Page 2008 - Economy & Policy News

Surat textile industry still under subdued capacity utilisation

As against a 40 mn metres per day of production in the Rs 500 bn synthetic textile hub of Surat, the current production is down to 2.5 mn metres per day

Surat's textile sector faces cost-push crisis as key input prices surge

Polyester yarn prices increased 6-8 per cent in the past one month and 12-15 per cent in past 3 months

Scandal and slowdown: Diamond hub Surat latest pillar of economy to wobble

Banks have been scared off from lending to jewelers in Surat after the Nirav Modi scandal broke, with credit to the sector down 14% in October from March 2018.

NBFCs, HFCs rated up to BBB+ come under partial credit guarantee scheme

This will allow public sector banks (PSBs) to buy pooled assets from financially sound entities

Bill to provide social security to workers introduced in Lok Sabha

This code seeks to make Aadhaar mandatory for availing of benefits under various social security schemes

Das meets heads of PSBs, discusses transmission of rates, stressed assets

The meeting focused on credit flow to the 'productive sectors' which include micro, small and medium enterprises and non-banking financial companies

CAG report says discrepancies in Ujjwala scheme data; safety norms violated

The report stated that at least 859,000 connections were released to beneficiaries who were minor, according to SECC-2011 data

Personal data protection Bill may bring new usage consent managers: Experts

Industry experts fear massive implementation hurdles, going forward

Higher GST rate on mobiles, fabrics likely to boost revenue collection

The GST rate on mobile phones is 12%, whereas that on phone parts and batteries is 18%

Stressed asset buyers get protection after Cabinet clears IBC amendment

Cabinet clears Code amendments to shield new owners from criminal liabilities

ADB scales down India's GDP growth forecast from 6.5% to 5.1% for FY20

The ADB said growth would pick up to 6.5 per cent in 2020-21 with "supportive" policies, but also said it would be lower than its earlier forecast of 7.2 per cent for the fiscal year

Irdai okays debt ETFs of CPSEs as eligible class of investment for insurers

Irdai said such debt ETFs should be issued by mutual funds registered by Sebi and governed by its regulations.

Rajasthan govt to launch farmer welfare fund of Rs 1,000 cr on December 17

The IM Shakti (Indira Mahila Shakti) Yojana dedicated to women empowerment will also be launched on this occasion. Chief Minister Ashok Gehlot has given a budget of Rs 1,000 crore for this scheme.

Change in IGST panel triggers speculation on fresh faces in Modi cabinet

A young face from the North-East may be brought in to articulate the government's stand in those states

Not a drop to drink: Chennai still caught in cyclical water crisis

The third of a five-part series highlights how recycling of waste water is the only way to fight drought

Cabinet authorises NHAI to set up InvIT to monetise national highways

IRB Infrastructure Developers was the first private company in the sector to come out with an INvIT

Govt clears IBC amendments to ring-fence successful bidders from risks

It assumes significance against the backdrop of instances of enforcement agencies taking action in case of companies where the resolution process has already been completed.

India's fuel consumption grew 10.5% in November: Oil Ministry data

Sales of gasoline, or petrol, were 9.2 percent higher from a year earlier at 2.53 million tonnes.

Govt okays Rs 5,300 cr capital infusion into IIFCL via recap bonds in FY20

Another Rs 10,000 crore will be infused in 2020-21

LS passes Bill to set up unified authority to regulate all IFSC activities

The unified authority will act as a single-window for regulating various financial activities in the IFSC, said Finance Minister Nirmala Sitharaman