Page 2111 - Economy & Policy News
Clear govt dues of Rs 9,100 crore towards pension schemes: EPFO to FinMin
At present, 8.33% of wage up to Rs 15,000 a month is remitted to the EPS account of a worker.
 "Clear govt dues of Rs 9,100 crore towards pension schemes: EPFO to FinMin")
Downward spiral: Industrial output shrinks by 1.1%; at nearly 7-year low
The Index of Industrial Production (IIP) is now expected to remain muted this fiscal year
 "Downward spiral: Industrial output shrinks by 1.1%; at nearly 7-year low")
Improve customer response system to help passengers: Regulator to airlines
The direction comes as winter season to start soon when fog forces airlines to cancel and divert multiple flights
 "Improve customer response system to help passengers: Regulator to airlines")
Average MLA has 24 more times in assets than constituents in Oct 21 polls
Gap is wider in parts of Haryana and Maharashtra
 "Average MLA has 24 more times in assets than constituents in Oct 21 polls")
Facing tight liquidity, NBFCs step up offshore fundraising exercise
Tight onshore liquidity is driving NBFCs into the overseas bond and loan markets in search of funding
 "Facing tight liquidity, NBFCs step up offshore fundraising exercise")
Govt may restrict palm oil import from Malaysia over Kashmir stand
The government wants to send a strong signal of its displeasure to Malaysian authorities, the sources said.
 "Govt may restrict palm oil import from Malaysia over Kashmir stand")
LIC Housing Finance raises Rs 19,000-crore through commercial papers, NCDs
The housing finance company has a strong fund-raising ability and will need to raise additional capital to meet the revised norms of the National Housing Bank
 "LIC Housing Finance raises Rs 19,000-crore through commercial papers, NCDs")
Irdai pulls up life insurers for under-reporting operating expenses
The regulator, in 2016, had set a limit for managing expenses of life insurers
 "Irdai pulls up life insurers for under-reporting operating expenses")
Govt invites bids from advisers for strategic disinvestment of 3 PSUs
In strategic disinvestment, a buyer also takes the management control.
 "Govt invites bids from advisers for strategic disinvestment of 3 PSUs")
Forex reserves surges by $4.24 bn to touch a record high of $437.83 bn
In the previous week, the reserves had surged by massive USD 5.02 billion to USD 433.59 billion
 "Forex reserves surges by $4.24 bn to touch a record high of $437.83 bn")
Industrial production drops by 1.1% in Aug, dragged down by manufacturing
The Index of Industrial Production (IIP) had expanded by 4.8 per cent in August 2018.
 "Industrial production drops by 1.1% in Aug, dragged down by manufacturing")
Iron ore prices expected to fall 10-15% after ops resume at Donimalai mine
Under the new rules, mining leases of state-owned companies will be renewed automatically without going through the auction process
 "Iron ore prices expected to fall 10-15% after ops resume at Donimalai mine")
UDAY comes a cropper, puts power distribution companies in the red
The rising cost of power, along with increased power demand due to electrification schemes, has increased the expenditure of discoms
 "UDAY comes a cropper, puts power distribution companies in the red")
Revenue crunch prompts govt to consider GST rate hike on low-tax products
Goods and services falling under zero and 5% slabs may be hit
 "Revenue crunch prompts govt to consider GST rate hike on low-tax products")
Xi's seaside summit with Modi aims to reset China-India ties beyond Kashmir
Trade, especially the Regional Comprehensive Economic Partnership, is also expected to be a focus
 "Xi's seaside summit with Modi aims to reset China-India ties beyond Kashmir")
India, China private sector inks 129 MoUs ahead of Modi-Xi Jinping meet
India has time and again raised the issue of widening trade deficit with China, which stood at over $50 billion in 2018-19.
 "India, China private sector inks 129 MoUs ahead of Modi-Xi Jinping meet")
FM Nirmala Sitharaman assures change in cooperative bank laws if required
Tells PMC Bank depositors that government and Reserve Bank working on solving their problems
 "FM Nirmala Sitharaman assures change in cooperative bank laws if required")
Gem and jewellery export down 7.6% to Rs 1.3 trillion in first half
Industry unable to take advantage of opportunity provided by US-China trade war
 "Gem and jewellery export down 7.6% to Rs 1.3 trillion in first half")
Input tax credit under GST regime restricted to 20% of claims: CBIC
Experts said it would block cash flow of businesses and increase their compliance burden
 "Input tax credit under GST regime restricted to 20% of claims: CBIC")
Firms opting for private placements, rather than issuing bonds in public
The main reason for this is the near absence of NBFCs from the market.
 "Firms opting for private placements, rather than issuing bonds in public")