Page 2285 - Economy & Policy News
INS Vela: Late and over-budget, fourth Scorpene submarine enters water
The first Scorpene (French for Scorpion), INS Kalvari, was commissioned into operational service by Prime Minister Narendra Modi on December 14, 2017
 "INS Vela: Late and over-budget, fourth Scorpene submarine enters water")
IT, biz services market likely to grow 8%, reach $14.3 bn by 2020: IDC
In India, growth in the IT services market is being propelled by the banking, financial services and insurance
 "IT, biz services market likely to grow 8%, reach $14.3 bn by 2020: IDC")
Subdued gold prices trigger brisk jewellery sales on Akshaya Tritiya
Jewellers etch symbols of political parties on coins and jewellery, offer 25% off on making charges to attract customers in ongoing election season
 "Subdued gold prices trigger brisk jewellery sales on Akshaya Tritiya")
Dollar-rupee swap, open market operations: RBI plans steps to inject cash
These moves are expected to increase cash in the financial system and help push interest rates down, potentially helping borrowers where an interest rate cut has not
 "Dollar-rupee swap, open market operations: RBI plans steps to inject cash")
Kerosene subsidy bill builds up 21% to Rs 5,800 cr in FY19; LPG jumps 49.4%
The rise in subsidy burden on LPG was because of an increase in consumption and a rise in international prices during the period
 "Kerosene subsidy bill builds up 21% to Rs 5,800 cr in FY19; LPG jumps 49.4%")
Rooftop solar power must for India to meet 175 Gw energy goal by 2022
According to IEEFA estimates, for the next three years, solar rooftop installation will grow at a compound annual growth rate of 50 per cent
 "Rooftop solar power must for India to meet 175 Gw energy goal by 2022")
Iran Steel imports: Indian industry flags concerns over predatory pricing
Price difference is about Rs 5,000 a tonne when compared to China; apart from IBA, the Indian Steel Association has also moved steel ministry and and customs
 "Iran Steel imports: Indian industry flags concerns over predatory pricing")
US wants India to eliminate trade barriers for American companies: Ross
He also alleged that India imposes very high import duties on goods like automobiles, motorcycles and agriculture products
 "US wants India to eliminate trade barriers for American companies: Ross")
10-yr bond yield drops as RBI mulls injecting more cash into economy
RBI plans to conduct more open market operations of up to Rs 500 billion over the next two months
 "10-yr bond yield drops as RBI mulls injecting more cash into economy")
GST will not reduce state deficits as social expenditure rises: S&P Report
According to S&P Global Ratings the institutional framework for Indian states is evolving, but there is structural deficits due to persistent revenue expenditure mismatch
 "GST will not reduce state deficits as social expenditure rises: S&P Report")
Eyeing investment, India considers new solar tender with focus on factories
There has been little interest from solar equipment makers in the previous manufacturing tenders, a hurdle to PM Modi's ambitious plans of building 100 gigawatts of solar power capacity by 2022
Why record high GST collection is an exception and not a norm yet
The government had touted GST as a tool to increase tax compliance when it was introduced in July 2017
 "Why record high GST collection is an exception and not a norm yet")
Policy to boost exports on anvil as trade deficit hits new high of $176 bn
Imports of raw materials and capital goods are duty-free till their final clearance
 "Policy to boost exports on anvil as trade deficit hits new high of $176 bn")
Lighthouse closes capital raise for Fund III at Rs 1,750 crore
Of the amount, $20 million came from co-invest capital from World Bank's IFC and a family office from the Middle East
 "Lighthouse closes capital raise for Fund III at Rs 1,750 crore")
GSP fails to find a mention in India-US talks: Here're key facts from meet
US Commerce Secretary Wilbur Ross and Suresh Prabhu discuss data localisation and e-commerce norms
Odisha seeks Rs 17,000 cr relief after Fani, PM Modi lauds relief efforts
The demand was made by Chief Minister Naveen Patnaik to Narendra Modi on Monday as the Prime Minister conducted an aerial survey of cyclone-devastated Puri and Khurda districts
 "Odisha seeks Rs 17,000 cr relief after Fani, PM Modi lauds relief efforts")
E-filing of tax returns saw 19% growth in AY19, says Finance Ministry
The ministry said a total of 66.8 million returns were e-filed in FY19, which included 64.9 million for AY19
 "E-filing of tax returns saw 19% growth in AY19, says Finance Ministry")
MSMEs forced to approach moneylenders as PSBs steer clear despite govt push
While the average cost of bank lending to MSMEs is between 12-15%, it goes up to as high as 18% from NBFCs, and 24% from moneylenders
 "MSMEs forced to approach moneylenders as PSBs steer clear despite govt push")
US cannot ensure crude sale to India at concessional rate: Wilbur Ross
India this month stopped importing crude oil from Iran following the US move to end sanction waivers
 "US cannot ensure crude sale to India at concessional rate: Wilbur Ross")
E-comm policy, data localisation figure in Indo-US meet; GSP not discussed
Although India has said the withdrawal of GSP benefits by the US will not impact domestic exporters, local industry has demanded for continuation of the incentives
 "E-comm policy, data localisation figure in Indo-US meet; GSP not discussed")