Page 2413 - Economy & Policy News
High cost of banking services hindering financial inclusion: NITI
Efforts to improve financial literacy should be complemented by mass media campaigns to spread information on financial products and how they are used, NITI Aayog said
 "High cost of banking services hindering financial inclusion: NITI")
NITI unveils 'New India' strategy paper to achieve $5-trn economy by 2030
The development strategy includes doubling farmers' income, boosting 'Make in India', upgrading the science, technology and innovation ecosystem, and promoting sunrise sectors
 "NITI unveils 'New India' strategy paper to achieve $5-trn economy by 2030")
Tax on tyres likely to be slashed to 18% at GST Council meet on Saturday
Modi Tuesday indicated that the 28 per cent slab of GST would only be restricted to a few select items, such as luxury and sin goods
 "Tax on tyres likely to be slashed to 18% at GST Council meet on Saturday")
NITI flags 'inadequate' cybersecurity, constraints in broadband access
The national e-governance unit should periodically audit compliance of e-services, and bring out a performance report with a view to improving service delivery, NITI Aayog said in its report
 "NITI flags 'inadequate' cybersecurity, constraints in broadband access")
Govt to seek interim dividend from RBI, funds for public banks: S C Garg
The Finance Ministry is likely to seek approval from Parliament for additional funding for state-run banks on Thursday
 "Govt to seek interim dividend from RBI, funds for public banks: S C Garg")
New norms by govt's electricity board helpful for power generators: Ind-Ra
In the proposed norms, CERC has reduced the normative availability to 83 per cent from 85 per cent, which would improve fixed cost recovery
 "New norms by govt's electricity board helpful for power generators: Ind-Ra")
7,500 food quality complaints till Oct, Rs 15-mn fines imposed: Railways
It imposed Rs 15.5 million fines on vendors, warned 2,322 of them, terminated the contract of one and found 555 complaints unsubstantiated
 "7,500 food quality complaints till Oct, Rs 15-mn fines imposed: Railways")
I-T dept takes steps to prevent refund claims based on bogus investments
Regretting that people are claiming bogus refunds, CBDT Chairman said it was time that people change their mentality and pay their due share of taxes honestly
 "I-T dept takes steps to prevent refund claims based on bogus investments")
Niti's roadmap for power reform: Privatisation of discoms, more auctions
Niti also pitched for introduction of time-of-day tariff to promote the use of renewable energy and performance-based incentives in the tariff structure
 "Niti's roadmap for power reform: Privatisation of discoms, more auctions")
India may miss 2019 sugar MIEQ target on sustained fall in global prices
Missed 2018 target by 80%, sugar mills lower supply on delay in recovery of subsidy amount resulting into fear of working capital blockage
 "India may miss 2019 sugar MIEQ target on sustained fall in global prices")
RBI's committee on interest rate sounds cautious on inflation
The six-member Monetary Policy Committee had unanimously decided to maintain the rates two weeks ago, while staying optimistic on growth.
 "RBI's committee on interest rate sounds cautious on inflation")
NITI Aayog releases strategy for new India, aims to accelerate growth to 8%
According to the NITI Aayog's strategy, the government aims to increase tax-to-GDP ratio to 22 per cent
 "NITI Aayog releases strategy for new India, aims to accelerate growth to 8%")
NITI's strategy for New India: Bring labour reforms, expand social security
On social security, the Niti Aayog report asked the government to enact a comprehensive occupational health and safety legislation based on risk assessment and employer-worker cooperation
 "NITI's strategy for New India: Bring labour reforms, expand social security")
Poor need sound policy, not slogans: Jaitley at NITI strategy paper launch
The document aims to accelerate GDP growth to 8% and propel the country towards a $5-trillion economy by 2030
 "Poor need sound policy, not slogans: Jaitley at NITI strategy paper launch")
Yogi government tables Supplementary Budget of over Rs 80 billion
Allocates Rs 5 billion for airports in Noida, Ayodhya
 "Yogi government tables Supplementary Budget of over Rs 80 billion")
CERC's tariff regulations: In tandem with electricity sector's trends
The CERC announced the regulations for the 2019-2014 this week
 "CERC's tariff regulations: In tandem with electricity sector's trends")
Govt to set up 20 additional tech centres to help MSMEs: Giriraj Singh
Currently, 10 such centres are operational in different states of the country
 "Govt to set up 20 additional tech centres to help MSMEs: Giriraj Singh")
Drugmakers make lowest return on R&D investments in 9 years: Deloitte
The average cost of bringing a new medicine to market is now $2.18 billion, up from $1.19 billion back in 2010
 "Drugmakers make lowest return on R&D investments in 9 years: Deloitte")
RBI officers unhappy with new promotion policy, seek return to old system
With the new policy, only 75% of the officers with a particular rank would be promoted, while it was 90% earlier
 "RBI officers unhappy with new promotion policy, seek return to old system")
Note ban shaved off GDP growth by 2 percentage points in Q4 2016: Economist
The Indian economy grew at 7 per cent in the third quarter (when demonetisation was implemented) of 2016-17 and at 6.1 per cent in the subsequent quarter
 "Note ban shaved off GDP growth by 2 percentage points in Q4 2016: Economist")