Page 2204 - Economy & Policy News
Adityanath invokes 'dinner diplomacy' before launch of mega projects
Top industrialists invited for 'power dinner' to be hosted by CM tonight
 "Adityanath invokes 'dinner diplomacy' before launch of mega projects")
Boeing hands over first four of 22 AH-64E Apache attack helicopters to IAF
IAF had signed a contract with the US government and Boeing Ltd in September 2015 for 22 Apache helicopters
 "Boeing hands over first four of 22 AH-64E Apache attack helicopters to IAF")
Govt's big push for EVs: GST Council trims rate on EVs, chargers to 5%
Hiring of electric buses (of carrying capacity of more than 12 passengers) by local authorities was exempted from GST
 "Govt's big push for EVs: GST Council trims rate on EVs, chargers to 5%")
GST rate on EVs cut from 12% to 5%; reduced rate effective from August 1
The GST Council has also approved exemption from GST on hiring of electric buses by local authorities
 "GST rate on EVs cut from 12% to 5%; reduced rate effective from August 1")
Govt drops plan for easier retrenchment, moots fixed-term employment
The government had earlier proposed allowing factories with up to 300 workers to retrench, lay off, or shut shop without seeking its nod in the Industrial Relations Bill proposed in 2015
 "Govt drops plan for easier retrenchment, moots fixed-term employment")
NIIF eyes $1 bn more from overseas investors in fresh fundraising round
The fund already has commitments from two sovereign wealth funds-- Abu Dhabi Investment Authority and Singaporean Temasek
 "NIIF eyes $1 bn more from overseas investors in fresh fundraising round")
Cabinet likely to soon decide on 2 ambitious semi-high speed train projects
Russian Railways will come out with a report on the speed upgrade of the Nagpur-Secunderabad section by September. India and Russia had signed a memorandum of understand for this in December 2015
 "Cabinet likely to soon decide on 2 ambitious semi-high speed train projects")
Retirement decision not linked to transfer, says ex-finance secy S C Garg
He says no one in govt had opposed sovereign bonds
 "Retirement decision not linked to transfer, says ex-finance secy S C Garg")
Uncertain times ahead, EMs lack safety net: RBI governor Shaktikanta Das
The general government debt of AEs as a group has surpassed 100 per cent of gross domestic product (GDP), whereas the fiscal space is also constrained in many of these countries
 "Uncertain times ahead, EMs lack safety net: RBI governor Shaktikanta Das")
IBBI sets one-year timeline for liquidation process of insolvent companies
New regulations also say that a compromise between the stakeholders must happen within 90 days of the liquidation order
 "IBBI sets one-year timeline for liquidation process of insolvent companies")
Will think 'deeply' on issuing sovereign bonds, says CEA Subramanian
The BJP-led govt announced in the Budget that it will raise a part of its market borrowing by issuing foreign exchange-denominated bonds in overseas markets
 "Will think 'deeply' on issuing sovereign bonds, says CEA Subramanian")
Govt sets up a separate advisory board for medical devices sector
This will be on the lines of the Drugs Technical Advisory Board (DTAB), which looks into issues in the pharmaceuticals sector
 "Govt sets up a separate advisory board for medical devices sector")
Rs 5 trillion needed for Har Ghar Jal, says water resources ministry
Equal contribution of Rs 1.8 trillion may come from states and Centre; remaining through convergence of govt schemes
 "Rs 5 trillion needed for Har Ghar Jal, says water resources ministry")
Govt plans to privatise 20-25 airports in next phase: AAI chairman
Last year, the government had decided to privatise airports in Lucknow, Ahmedabad, Jaipur, Mangaluru, Thiruvananthapuram, and Guwahati for operation, management and development through PPP model
 "Govt plans to privatise 20-25 airports in next phase: AAI chairman")
Farm income can't be doubled by 2022 at current growth rate: Govt
The government had so far spent Rs 720 crore through 61 projects for promoting organic farming in the country
 "Farm income can't be doubled by 2022 at current growth rate: Govt")
Rain in August to determine final output of kharif crops this year
The southwest monsoon has picked up over central and western India, but it is still below last year's average
 "Rain in August to determine final output of kharif crops this year")
When it comes to debt, size doesn't matter anymore
To address an evaporation of investor demand and potential forced selling, policymakers would have to increase their intervention in markets by mandating minimum capital and liquidity reserves
 "When it comes to debt, size doesn't matter anymore")
IBBI amends norms for insolvency resolution process for corporate persons
Regarding liquidation process, the amendments specify the process for sale of corporate debtor as going concern and sale of business of corporate debtor as going concern under liquidation
Summer crop planting lags as monsoon rains remain patchy in India
Planting of rice, the key summer crop, was at 18.5 million hectares on Friday, against 19.8 million hectares at the same time last year.
 "Summer crop planting lags as monsoon rains remain patchy in India")
US economic growth slows in Q2, 2018 falls below Trump's target
New data shows the world's largest economy actually slowed in the year after Donald Trump pushed through a sweeping tax overhaul.
 "US economic growth slows in Q2, 2018 falls below Trump's target")