Page 2291 - Economy & Policy News
NYAY is undoubtedly a potential game changer, but communication the key
NYAY is undoubtedly a potential game-changer, if Congress can convince beneficiaries about it
 "NYAY is undoubtedly a potential game changer, but communication the key")
MCA tightens noose on ponzi scheme operators, wants ban on cryptocurrencies
About 60% of the money in these schemes comes from the small investors who never come forward to claim the money. They usually put money in such schemes in the range of Rs 500 to Rs 1,000
 "MCA tightens noose on ponzi scheme operators, wants ban on cryptocurrencies")
Oil prices tumble as Donald Trump dials Opec to lower gasoline prices
Futures in New York fell as much as 4.5 per cent on Friday, wiping away gains from earlier in the week that had followed the US' vow of tougher sanctions on Iran
 "Oil prices tumble as Donald Trump dials Opec to lower gasoline prices")
New e-commerce norms: Faced downtime but bounced back, says Amazon CFO
Besides Walmart, Amazon is set to face competition from the yet to be launched e-commerce business of Reliance Industries
 "New e-commerce norms: Faced downtime but bounced back, says Amazon CFO")
Indian consumers face post-election fuel price shock, economy could be hit
Higher oil prices will mean Asia's third largest economy is likely to see growth of less than 7 percent rate this fiscal year, economists said
 "Indian consumers face post-election fuel price shock, economy could be hit")
Power cos complain about increase in reserve prices for spot coal by CIL
The APP also said that power units are facing huge under-recoveries of cost, owing to delayed payment from the state-owned power distribution companies
 "Power cos complain about increase in reserve prices for spot coal by CIL")
IOC, BPCL, OIL may be at risk as govt seeks more shareholder returns: Fitch
Struggling to meet budget targets, the government had in the just concluded fiscal (2018-19) asked cash-rich PSUs to pay second interim dividend as well as undertake share buyback
 "IOC, BPCL, OIL may be at risk as govt seeks more shareholder returns: Fitch")
At $44 bn foreign interest, oil could be India's next geopolitical currency
In any war-like situation with Pakistan, both Saudi and UAE will be induced to pressurise Islamabad because of their high stakes in India's oil sector
17 factories in Uttarakhand asked to shut over pollution, jobs at stake
Court had asked state to take action on units for causing pollution
 "17 factories in Uttarakhand asked to shut over pollution, jobs at stake")
PepsiCo offers out-of-court settlement to sued Gujarat potato farmers
In the interim, the court's previous order of a stay on the farmers from growing and selling the potatoes continues till the next hearing on June 12
 "PepsiCo offers out-of-court settlement to sued Gujarat potato farmers")
India to skip global e-comm talks despite chances of draft policy overhaul
New Delhi would instead push the draft e-commerce policy back home, with talks on data repatriation, taxation and corporate control
 "India to skip global e-comm talks despite chances of draft policy overhaul")
Retaliatory tariffs: India may extend deadline on 29 US items by 14 days
The government has already extended this deadline over half a dozen times since June 2018
 "Retaliatory tariffs: India may extend deadline on 29 US items by 14 days")
US economy posts 3.2% growth in first quarter on shrinking trade deficit
Fears of a recession were stoked by a brief inversion of the US Treasury yield curve last month
 "US economy posts 3.2% growth in first quarter on shrinking trade deficit")
Forex reserves decline by $739 million to $414.14 billion, shows RBI data
In the previous week, the reserves had increased by $ 1.105 billion to touch $ 414.886 billion
 "Forex reserves decline by $739 million to $414.14 billion, shows RBI data")
Finance Ministry ratifies 8.65% interest on EPF for 2018-19
The EPFO had earlier reduced the interest rate in 2016-17 to 8.65 per cent from 8.8 per cent in 2015-16
 "Finance Ministry ratifies 8.65% interest on EPF for 2018-19")
Nirav Modi, Mehul Choksi's luxury cars auctioned for Rs 3.3 crore
The Enforcement Directorate had in March obtained the permission of a special PMLA court in Mumbai for auctioning 13 cars of the Modi-Choksi duo
 "Nirav Modi, Mehul Choksi's luxury cars auctioned for Rs 3.3 crore")
Businesses can use IGST credit to settle centre, state tax dues: CBIC
Importers typically pay IGST on goods they bring into the country. Also IGST is paid on inter-state movement of goods
 "Businesses can use IGST credit to settle centre, state tax dues: CBIC")
Why Railways' target of electrifying 28,000 km of tracks is a tough ask
Official data shows, the national transporter electrified 8,411 RKM between 2014-15 and 2017-18, compared to just 2,617 km added in the previous four years
 "Why Railways' target of electrifying 28,000 km of tracks is a tough ask")
RBI duty bound to disclose wilful defaulters' information, rules SC
SC takes serious view of non disclosure by RBI, says further violation to invite contempt
 "RBI duty bound to disclose wilful defaulters' information, rules SC")
US black list for IP theft: China leads, India takes second spot
In second place on the list is India, with the USTR emphasising "longstanding deficiencies" in its IP framework and a lack of adequate measurable improvements concerning patents, copyrights etc
 "US black list for IP theft: China leads, India takes second spot")