Page 1905 - Economy & Policy News
Govt plan to set up 10,000 groups to promote farm produce needs pruning
A farmer-producer organisation is a means to help small farmers maximise their income by offering distribution and marketing support for their produce
 "Govt plan to set up 10,000 groups to promote farm produce needs pruning")
WPI-based inflation eases to 2.26% in February on cheaper food items
The data released last week also showed that the consumer price index- (CPI-) based inflation rate declined to 6.58 per cent from 68-month high of 7.59 per cent over this period
 "WPI-based inflation eases to 2.26% in February on cheaper food items")
Govt ramps up capacity of the NCLT Benches to boost decision-making
Since inception, close to 62,000 cases came to the NCLT. These include the ones which transferred from board of industrial and financial reconstruction and high courts
 "Govt ramps up capacity of the NCLT Benches to boost decision-making")
Lok Sabha passes Appropriation Bill authorising govt to draw Rs 110 trn
The house passed the Bill, envisaging spending of Rs 110.4 trillion during the financial year 2020-21 after Speaker Om Birla applied 'guillotine' on demands of grants for various ministries.
 "Lok Sabha passes Appropriation Bill authorising govt to draw Rs 110 trn")
Saudi Aramco likely to sustain higher April oil output through May: CEO
Aramco said last week it would be raising its output in April to a record 12.3 million barrels per day in a fight for market share with Russia that has helped to hammer global oil prices
 "Saudi Aramco likely to sustain higher April oil output through May: CEO")
No decision to discontinue printing of Rs 2,000 banknotes: FinMin
The total face value of banknotes of Rs 2,000 denomination in circulation and in currency chests was Rs 5.49 lakh crore and Rs 0.93 lakh crore, respectively.
 "No decision to discontinue printing of Rs 2,000 banknotes: FinMin")
Govt backs telcos in SC, seeks payment of AGR dues over 20 years
Adverse impact on the functioning of telecom companies will hurt economy and consumers, says telecom department.
 "Govt backs telcos in SC, seeks payment of AGR dues over 20 years")
Chhattisgarh govt in a fix; activists warn Dantewada-like action in Hasdeo
State government in process to scrap clearances for NMDC's iron-ore mine in Dantewada
 "Chhattisgarh govt in a fix; activists warn Dantewada-like action in Hasdeo")
NMDC reduces iron ore prices after poor demand from industries last year
Domestic steel prices fell during most of 2019 due to low demand from industries and a slowdown in the economy.
 "NMDC reduces iron ore prices after poor demand from industries last year")
RBI says can't rule out any policy measure to counter coronavirus impact
RBI governor Shakikanta Das announces US dollar sell/buy swap and Long Term Repo Operation.
 "RBI says can't rule out any policy measure to counter coronavirus impact")
'Don't miss the March 31 deadline': I-T Dept on PAN-Aadhaar linking
The CBDT had also issued a notification amending I-T rules and inserted Rule 114AAA that stipulates the "manner of making permanent account number inoperative" for those who do not link the two by Mar
 "'Don't miss the March 31 deadline': I-T Dept on PAN-Aadhaar linking")
Will the RBI cut rates today? Fiscal boost also needed to battle slowdown
The Reserve Bank of India is expected to hold a media interaction later in the day today. It is widely expected that the central bank will cut rates and announce measures to boost sentiment.
 "Will the RBI cut rates today? Fiscal boost also needed to battle slowdown")
WPI-based inflation eases to 2.26% in February against 3.1% in Jan
The food index-based inflation consisting of food articles and food products decreased from 10.12 per cent in January to 7.31 per cent in February
 "WPI-based inflation eases to 2.26% in February against 3.1% in Jan")
FinMin may cut interest rates on small savings schemes for April-June qtr
The govt last cut the small savings rates for the July-September 2019 quarter, except for one scheme
 "FinMin may cut interest rates on small savings schemes for April-June qtr")
Statsguru: Oil price fall, coronavirus fear trigger global growth concerns
Fears that the spread of COVID-19 would push the global economy into recession have led to extreme risk aversion among investors
 "Statsguru: Oil price fall, coronavirus fear trigger global growth concerns")
Centre to relook long-term power sale pacts between generators and states
PPAs are typically of 25-30 years duration. The ministry is designing a policy paper to dwell on the alternative for long-term PPAs.
 "Centre to relook long-term power sale pacts between generators and states")
YES Bank fiasco: Mutual funds to approach Sebi on 3-year lock-in
Nifty, Bank Nifty funds will have to sell stock after index exclusion
 "YES Bank fiasco: Mutual funds to approach Sebi on 3-year lock-in")
CAIT writes to FM, seeks insurance cover for coronavirus-hit businesses
CAIT suggested that insurance companies may be mandated to introduce 'disruptions due to coronavirus' as an additional cover to fire and materials damage policies
 "CAIT writes to FM, seeks insurance cover for coronavirus-hit businesses")
Uttar Pradesh mandates 25% procurement from MSMEs by govt depts and PSUs
Fixes procurement sub-quota for MSMEs owned by women
 "Uttar Pradesh mandates 25% procurement from MSMEs by govt depts and PSUs")
2 Russian arms deals likely next week, weaponry worth $15 bn in pipeline
Weaponry worth $15 billion in Moscow pipeline, underlining Russia's status as India's premier arms supplier
 "2 Russian arms deals likely next week, weaponry worth $15 bn in pipeline")