Page 1827 - Economy & Policy News
Higher FDI in defence sector to attract MNCs, give 'Make in India' a boost
The local companies will be at a disadvantage if they don't' get orders from the government
 "Higher FDI in defence sector to attract MNCs, give 'Make in India' a boost")
Defence more aggravated than other sectors amid coronavirus: Rajnath Singh
The Minister was addressing, via video conference, MSMEs E-conclave, jointly organised by SIDM, Confederation of Indian Industry (CII) and Department of Defence Production
 "Defence more aggravated than other sectors amid coronavirus: Rajnath Singh")
China hikes defence budget to $179 bn; nearly three times that of India
China, which has the world's largest military of two million troops, will continue to lower its defence budget growth rate to 6.6% in 2020
 "China hikes defence budget to $179 bn; nearly three times that of India")
Farm start-up Kamatan raises Rs 17.5 cr fresh equity during lockdown
UK-based Global Innovation Fund and existing investor Elevar have infused capital, which will help Kamatan leverage its partnerships with farmer producer organisations
 "Farm start-up Kamatan raises Rs 17.5 cr fresh equity during lockdown")
Gujarat's standing summer crop at risk as state braces for locust attack
Around 33 teams in Banaskantha, 15 in Patan and 10 in Mehsana districts have been formed to oversee the locust situation, apart from ensuring supply of pesticides
 "Gujarat's standing summer crop at risk as state braces for locust attack")
Covid-19 impact: Odisha to bring 3 ordinances to boost agriculture economy
It has been planned to engage 100,000 people daily in the plantation programme in the coming one month.
 "Covid-19 impact: Odisha to bring 3 ordinances to boost agriculture economy")
Poor, farm sector likely to be FM Nirmala Sitharaman's next focus
Some of the sectors which have been worst affected by the pandemic and the lockdown include hospitality, tourism, aviation, logistics, e-commerce, automobiles, manufacturing and others
 "Poor, farm sector likely to be FM Nirmala Sitharaman's next focus")
Linking farm sector fortunes to unpredictable monsoon could be premature
More than normal rainfall, it is the distribution, spread and timeliness that will play a bigger role in improving the lot of farmers
 "Linking farm sector fortunes to unpredictable monsoon could be premature")
Sonia launches Nyay scheme in C'garh, says farmers will become self-reliant
Former Congress president Rahul Gandhi also lauded the Chhattisgarh government for launching the scheme at a time when the poor and farmers were facing hardships due to the coronavirus
 "Sonia launches Nyay scheme in C'garh, says farmers will become self-reliant")
Govt to fix domestic air fares for 3 months: Hardeep Singh Puri
For the Delhi-Mumbai route, the upper limit for flight fare would be Rs 10,000, said Hardeep Singh Puri at a press conference in Delhi
 "Govt to fix domestic air fares for 3 months: Hardeep Singh Puri")
Govt cap on airfares will have 7 bands based on flight duration: Puri
The minister said the first band, which would have it's specific lower and upper limits of airfare, will consist of flights that are of less than 40 minutes duration
Airlines may sustain losses on limited operations, demand worries
Despite the limited number of flights and price restrictions, analysts believe that the fares are yield accretive for airlines
 "Airlines may sustain losses on limited operations, demand worries")
DGCA releases provisional schedule of domestic flights: Check details
While IndiGo, SpiceJet, GoAir, Air India, TruJet have started booking flight tickets from May 25; Vistara and GoAir have scheduled their flights from June 1, 2020
 "DGCA releases provisional schedule of domestic flights: Check details")
Banks bat for package for beleaguered aviation, hospitality, realty sectors
Public sector bank executives said these three sectors have been hit badly in the immediate aftermath of lockdown announced in March 2020
 "Banks bat for package for beleaguered aviation, hospitality, realty sectors")
RBI fortifies war-room with more manpower as coronavirus pandemic rages on
The central bank, which handles billions of transactions, is served by around 14,000 employees across its main office and 31 regional offices
 "RBI fortifies war-room with more manpower as coronavirus pandemic rages on")
Experts disagree with MPC stance that inflation will fall below 4% in H2
RBI acknowledges economy will contract in the current fiscal even as independent experts have already assessed so.
 "Experts disagree with MPC stance that inflation will fall below 4% in H2")
Restaurants urge FM for support as job losses across 500,000 outlets loom
National Restaurant Association seeks tax credits, low-cost finance in a half-hour video conference call with Sitharaman
 "Restaurants urge FM for support as job losses across 500,000 outlets loom")
Demand, supply chain disruption may see pvt manufacturing shrinking in FY21
Auto sector may suffer double-digit decline in FY21, cement sector under pressure despite early start in infra activity
 "Demand, supply chain disruption may see pvt manufacturing shrinking in FY21")
Coal washing not mandatory for supply to thermal plants: Environment min
In a gazette notification on Thursday, the ministry amended the Environment Protection Act to drop mandatorily washing coal for supply to thermal power plants.
 "Coal washing not mandatory for supply to thermal plants: Environment min")
ESIC social security scheme sees around 821,000 enrolments in March
The NSO report is based on the payroll data of new subscribers of various social security schemes run by ESIC, retirement fund body EPFO and pension fund regulator PFRDA.
 "ESIC social security scheme sees around 821,000 enrolments in March")