Page 1849 - Economy & Policy News
Country's first round-the-clock solar power tender closes at Rs 2.9/unit
The project developer will have the option of building a hybrid plant with wind and hydro power or have energy storage systems
 "Country's first round-the-clock solar power tender closes at Rs 2.9/unit")
Covid-19: Relief for NRIs, foreign visitors as tax residency rules eased
The government imposed a lockdown on March 24 and is yet to open up travel, including international flights.
 "Covid-19: Relief for NRIs, foreign visitors as tax residency rules eased")
UP Ordinance a blow to industrial dispute resolution, say experts
The proposed Ordinance showed that the existing labour law - the Industrial Disputes Act of 1947 - which spells out the mechanism for resolving industrial disputes will become invalid
 "UP Ordinance a blow to industrial dispute resolution, say experts")
Additional borrowing to widen fiscal deficit, but help govt perk up economy
He did not think that the move will crowd out borrowings of the private sector, saying demand of the government and the private sector are not contradictory in these circumstances
 "Additional borrowing to widen fiscal deficit, but help govt perk up economy")
Vizag gas leak: NGT orders LG Polymers to deposit Rs 50 cr pending probe
NGT bench set up fact-finding committee, to be headed by former AP High Court judge
 "Vizag gas leak: NGT orders LG Polymers to deposit Rs 50 cr pending probe")
Nomura predicts Indian GDP to contract by 5.2% in FY21, more rate cuts
Analysts at Goldman Sachs expect the Indian economy to contract 0.4 per cent in FY21 versus consensus median 2.7 per cent
 "Nomura predicts Indian GDP to contract by 5.2% in FY21, more rate cuts")
Govt hikes borrowing limit by over 50% to Rs 12 trn as virus grips economy
Sources say the Centre has asked RBI to do whatever to keep yields in check, which may result in massive secondary market bond purchases
 "Govt hikes borrowing limit by over 50% to Rs 12 trn as virus grips economy")
India's credit profile to face further pressure due to Covid-19: Moody's
Moody's rating on the government of India is Baa2 with negative outlook
 "India's credit profile to face further pressure due to Covid-19: Moody's")
Franklin Templeton issues apology to Sebi for global chief's remarks
Stung by the comments made by the global chief, market regulator on Thursday issued a press release defending the new rules it introduced in October last year
 "Franklin Templeton issues apology to Sebi for global chief's remarks")
Sitharaman launches two exchanges to take on offshore currency market
The launch comes amid the world's most expansive coronavirus lockdown, which has crippled businesses and hurt trading volumes in the country's financial markets.
 "Sitharaman launches two exchanges to take on offshore currency market")
Gujarat eases labour laws, offers land to firms shifting base from China
The state government also offered land and infrastructure for companies and projects that were looking to shift base from China to other destinations
 "Gujarat eases labour laws, offers land to firms shifting base from China")
Lockdown period not to be counted for determining residency of NRIs: CBDT
There were apprehensions that this extended stay could lead to these individuals becoming Indian residents as per Section 6 of the Income Tax Act
 "Lockdown period not to be counted for determining residency of NRIs: CBDT")
HC orders closure of Liquor shops in Tamil Nadu, allows online sales
The opening of shops in districts, except Chennai on May 7, has resulted in people thronging the outlets without maintaining social distancing norms
 "HC orders closure of Liquor shops in Tamil Nadu, allows online sales")
Govt must work to revive consumption, not worry about rating: Rahul Gandhi
Congress wants lockdown lifted across country on May 18, save hotspots; Gandhi urges Centre to make citizens 'psychologically' prepared to for lockdown exit
 "Govt must work to revive consumption, not worry about rating: Rahul Gandhi")
Govt hikes market borrowing limit by over 50% to Rs 12 trillion
The government resorts to market borrowing to make up for the mismatch between its revenue and expenditure.
 "Govt hikes market borrowing limit by over 50% to Rs 12 trillion")
Amarinder Singh asks administration to ensure welfare of migrant workers
The chief minister asked the industry ministry to "aggressively" pursue the development of the four industrial parks already announced by the state government in the budget for this fiscal.
 "Amarinder Singh asks administration to ensure welfare of migrant workers")
Moody's pegs FY21 GDP growth at 0%, says upgrade unlikely in near term
The rapid and widening spread of the Covid-19, deteriorating global economic outlook, falling oil prices, and financial market turmoil are creating a severe and extensive economic and financial shock
 "Moody's pegs FY21 GDP growth at 0%, says upgrade unlikely in near term")
Only 13% of industrial units resume ops after Odisha eases lockdown
Micro units in the state have not been able to resume operations to catch up with their larger peers
 "Only 13% of industrial units resume ops after Odisha eases lockdown")
US Federal Reserve won't take rates negative, say fund managers, economists
Fed funds futures, which are a gauge of where markets expect the Fed's benchmark overnight lending rate to be, are now pricing in a slightly negative rate environment beginning in December
 "US Federal Reserve won't take rates negative, say fund managers, economists")
Uttarakhand hikes prices of fuel, alcohol to boost revenue amid lockdown
The price of Indian-made foreign liquor (IMFL) has been increased to Rs 20-Rs 200 per bottle, imported liquor by Rs 475 per litre and country-made liquor
 "Uttarakhand hikes prices of fuel, alcohol to boost revenue amid lockdown")