Page 1908 - Economy & Policy News
RBI may slash rates by 0.75% before next policy review on April 3: BofA
Amid talk of a review of the flexible inflation targeting framework, it said the revised contracts will introduce growth and financial stability as co-objectives of monetary policy along with price st
 "RBI may slash rates by 0.75% before next policy review on April 3: BofA")
Govt approves Rs 7,660 cr green highway project in UP, 3 other states
The project comprises components like sustainable development and maintenance of National Highways, Institutional Capacity Enhancement, Road Safety and Research and Development.
 "Govt approves Rs 7,660 cr green highway project in UP, 3 other states")
Airports Authority of India to raise $300 mn to fund new infrastructure
The airport authority aims to spend a minimum of Rs 5,000 crore each year on the infrastructure in line with the government's announcement that 100 new airports will be developed in five years
 "Airports Authority of India to raise $300 mn to fund new infrastructure")
Cabinet clears 4% DA hike for central government employees
Briefing the media I&B Minister Prakash Javadekar said the Cabinet had approved 4 per cent hike in DA to 21 pc for 4.8 million govt employees, 6.5 million pensioners.
 "Cabinet clears 4% DA hike for central government employees")
Cabinet approves reconstruction scheme for cash-strapped YES Bank
The moratorium imposed on the bank will be lifted within three days after the notification is issued
 "Cabinet approves reconstruction scheme for cash-strapped YES Bank")
Govt approves tax reimbursement scheme for exporters, MEIS to be phased out
These taxes include value added tax (VAT), electricity duties and fuel used for transportation, which are not exempt or refunded under any other existing mechanism.
 "Govt approves tax reimbursement scheme for exporters, MEIS to be phased out")
Govt hikes milling Copra MSP by Rs 439/qtl; ball Copra up by Rs 380/qtl
The new MSP for milling copra for 2020 season will be Rs 9,960 per quintal and that of ball copra Rs 10,300 per quintal
 "Govt hikes milling Copra MSP by Rs 439/qtl; ball Copra up by Rs 380/qtl")
Cabinet Highlight: YES Bank moratorium to be lifted within 3 days, says FM
Cabinet has cleared a draft resolution scheme for cash-starved YES Bank. Last week, the Reserve Bank of India (RBI) had announced a draft scheme of reconstruction for the lender. Follow LIVE UPDATES
 "Cabinet Highlight: YES Bank moratorium to be lifted within 3 days, says FM")
RBI says closely monitoring situation, will take steps for market stability
Both Sensex and Nifty plunged over 10% in the opening session, hitting their lower circuit levels
 "RBI says closely monitoring situation, will take steps for market stability")
Pvt airports want fliers to pay more as Coronavirus hurts their profits
Delhi, Mumbai, Hyderabad, Bangalore airports say that infrastructure they set up is a fixed asset and not flexible to respond to a sudden loss in business
 "Pvt airports want fliers to pay more as Coronavirus hurts their profits")
Parliament approves direct tax Vivad Se Vishwas Bill by voice vote
The Direct Tax Vivad Se Vishwas Bill was passed by voice vote and returned by Rajya Sabha as it was a money bill. It was approved by Lok Sabha on March 4
 "Parliament approves direct tax Vivad Se Vishwas Bill by voice vote")
As markets get hysterical over Coronavirus, CEA says govt ready to step in
The rupee, which earlier fell to a record low of 74.5075 against the dollar, also reversed some losses
 "As markets get hysterical over Coronavirus, CEA says govt ready to step in")
Providing safety, security measures at stations: Railways to Delhi HC
The bench was hearing the petition by a lawyer, Kush Kalra, seeking safety and security measures like baggage scanners, hand-held metal detectors and CCTV cameras at all railway stations
 "Providing safety, security measures at stations: Railways to Delhi HC")
New POCSO rules make law on sexual offences against children more stringent
Some of the significant additions in the new rules include provision of mandatory police verification of staff in schools and care homes
 "New POCSO rules make law on sexual offences against children more stringent")
BS-VI transition, economic slowdown drag auto sales down 19.8% in Feb
Vehicle sales across categories stood at 16,46,332 units last month as against 20,34,597 units in February
 "BS-VI transition, economic slowdown drag auto sales down 19.8% in Feb")
Global travel industry in agony as airlines cut flights, coronavirus grows
American Airlines Group Inc and United said they would continue normal flights to and from Europe for the next week but would be reducing capacity to Europe
 "Global travel industry in agony as airlines cut flights, coronavirus grows")
Industrial production rises 2% in January, investments still weak
The Index of Industrial Production was revised up for December to 0.07% growth, from a contraction of 0.3% in the provisional estimate
 "Industrial production rises 2% in January, investments still weak")
GST Council likely to defer simplified returns over glitches in system
Officials say that Finance Minister Nirmala Sitharaman in an outreach with taxpayers was disappointed to hear complaints about GST Network platform
 "GST Council likely to defer simplified returns over glitches in system")
Coronavirus: Exporters seek duty reduction, logistics support from Centre
Meanwhile, Irdai was asked to review existing insurance products to ensure risk cover against loss because of abnormal delay in delivery of shipments
 "Coronavirus: Exporters seek duty reduction, logistics support from Centre")
BSNL, SBI partner to launch UPI-based payment platform Bharat InstaPay
According to BSNL officials, the new payment facility developed by the company will enable its partners, especially prepaid sellers, to buy service immediately for sale
 "BSNL, SBI partner to launch UPI-based payment platform Bharat InstaPay")