Page 1923 - Economy & Policy News
India Ratings lowers domestic steel sector outlook for FY21 to negative
High iron ore premiums for new mine owners could alter costs for steel mills
 "India Ratings lowers domestic steel sector outlook for FY21 to negative")
Govt approves 32 projects under Pradhan Mantri Kisan Sampada Yojana
The projects spread across almost 17 states would leverage an investment of Rs 406 crore, an official release said
 "Govt approves 32 projects under Pradhan Mantri Kisan Sampada Yojana")
First phase of India-US mega trade deal expected to be sealed soon
Official sources said India and the US have almost completed negotiations for first phase of the ambitious deal and it will be formalised soon
 "First phase of India-US mega trade deal expected to be sealed soon")
Not sure if ease of doing business improved with India's ranking: Damodaran
Damodaran said India has been pushing for single-window clearances for the last two decades and quipped, "there are no single windows, but only closed doors" here.
 "Not sure if ease of doing business improved with India's ranking: Damodaran")
Odisha investments tank 67% by value in FY19, job creation potential halves
Not all investment intents of Make in Odisha 2018 translated into commitments; several projects stuck in 'labyrinth of approvals'
 "Odisha investments tank 67% by value in FY19, job creation potential halves")
Coronavirus: Firms haven't expressed raw material supply concerns, says FM
The deadly virus which originated in China has claimed the lives of more than 2500 people in the country
 "Coronavirus: Firms haven't expressed raw material supply concerns, says FM")
Pay taxes honestly to generate funds for development works: Prasad
"Only two crore people in a country with a population of 130 crore fall in the category of tax-paying professionals. Is this fair where people are prospering?" Prasad asked.
 "Pay taxes honestly to generate funds for development works: Prasad")
240,000 ATMs to be recalibrated, but consumers need not worry, says FIS
In case of recalibration the number of withdrawals would increase as only lower denomination notes were likely to be dispensed
 "240,000 ATMs to be recalibrated, but consumers need not worry, says FIS")
UP govt drafting 'Startup Policy 2020', eyeing top 3 domestic ranking
Plans to harness 9 million MSMEs base to boost start-ups
 "UP govt drafting 'Startup Policy 2020', eyeing top 3 domestic ranking")
India's GDP seen growing at 4.7% in Dec quarter, with virus impact to come
GDP data due to be released on Friday will cover up to the end of last year, before the epidemic had sparked fears of a pandemic
 "India's GDP seen growing at 4.7% in Dec quarter, with virus impact to come")
India's wearables market recorded 14.9 million shipments in 2019: IDC
At the same time, truly wireless devices with improved battery life and connectivity are attracting users to spend more, Dumbre added
 "India's wearables market recorded 14.9 million shipments in 2019: IDC")
CRR-exempt loans: Deduction only on incremental lending, clarifies RBI
In its bid to boost retail credit flow, the RBI on February 6 announced that incremental loans towards automobile purchases, residential housing and loans to MSMEs will be set against the mandatory ca
 "CRR-exempt loans: Deduction only on incremental lending, clarifies RBI")
India's annual defence exports to touch Rs 35,000 cr by 2024: Rajnath Singh
Singh also said he has no doubt about India emerging as among the three major economies of the world by 2030 and the defence industries will have an important role to play
 "India's annual defence exports to touch Rs 35,000 cr by 2024: Rajnath Singh")
Coronavirus may hit global GDP by $250 bn, cut growth: Industry body PHDCCI
PHDCCI President D K Aggarwal said disruptions in the global supply chains will not only hit China's exports but also the exports of the importing countries
 "Coronavirus may hit global GDP by $250 bn, cut growth: Industry body PHDCCI")
India's gas demand at inflexion point, to rise by 66% in 5 years: Report
Gas demand is expected to rise from 148 million standard cubic meters per day in 2018-19 to 250 mmscmd by FY25, Elara Securities said in a report
 "India's gas demand at inflexion point, to rise by 66% in 5 years: Report")
Cut in taxes, infra spending will help revive Indian economy: Anil Agarwal
Besides spending on building infrastructure, the government should focus on exploiting natural resources the country has and look at stake sale in most PSUs, said the mining baron
 "Cut in taxes, infra spending will help revive Indian economy: Anil Agarwal")
Coronavirus can hit Indian companies amid supply chain disruptions: Report
The coronavirus outbreak has brought a large part of the world's second-largest economy China to a standstill and its impact has been felt across industries
 "Coronavirus can hit Indian companies amid supply chain disruptions: Report")
Ind-Ra lowers outlook on domestic steel sector from stable to negative
High iron ore premiums for new mine owners both captive and merchant could shift the cost positions of steel mills, it said
 "Ind-Ra lowers outlook on domestic steel sector from stable to negative")
Gujarat govt's debt swells by Rs 28,000 cr in 2019 to Rs 2.4 trn: Dy CM
On Wednesday, Nitin Patel had presented a Rs 2,17,287 crore state budget for 2020-21, with healthy allocations to education, health and agriculture sectors
 "Gujarat govt's debt swells by Rs 28,000 cr in 2019 to Rs 2.4 trn: Dy CM")
Telecom industry body writes to govt seeking breather for crisis-hit sector
COAI's letter comes at a time when Vodafone Idea has reportedly made it clear to the govt that it won't be able to pay court mandated AGR dues in their entirety, unless a bailout is extended
 "Telecom industry body writes to govt seeking breather for crisis-hit sector")