Page 2505 - Economy & Policy News

Govt may finalise revival package for ailing Air India in a month: Official

The disinvestment of Air India may be possible only after the macroeconomic conditions and market conditions are favourable, says Civil Aviation Secretary

Inflation likely rose to RBI's 4% target in Sept on high fuel cost: Poll

The rupee tumbled to a new low of 74.395 against the US dollar on Tuesday and Brent crude, India's costliest import item, hit a four-year high this month

States to bear brunt of fuel price cuts, impact to be felt in H2 of FY19

States will bear 42% of the loss on account of the Rs 1.5-a-litre cut in basic excise duty, apart from the additional cuts they have announced; Gujarat, Maharashtra, Haryana to be worst hit

Besides import curb, farm exports to China key to India cutting deficit

Expanding agricultural exports such as soybeans and cotton to China by exploiting opportunities from a global trade war will help cut the deficit

SFIO narrows on five IL&FS firms for fund diversion, mismanagement

The 5 firms constitute for more than 50% of the entire group's revenue and may have diverted funds in projects that were worth Rs 300 bn

India considering tapping NRIs to boost dollar inflows, strengthen rupee

India is seeking to boost flows to support its currency that has declined more than 14 per cent against the dollar this year making it Asia's worst performer

Ajit Doval-led Strategic Policy Group to assist National Security Council

The group will assist the National Security Council and undertake among other tasks, a long-term strategic review of the country's security affairs

Bank unions stage protest against BoB-Vijaya Bank-Dena Bank merger

The protest was carried out by the United Forum of Bank Unions (UFBU), an umbrella body of nine unions, here in the Fort area

40-60% haircut may help resolve Rs 1-trillion stressed power debt: CRISIL

The report by Crisil is based on assessment of 16,000 Mw power assets, which account for nearly two-thirds of stressed and operational coal-based capacities

Centre sanctions Rs 296 bn cash credit limit for Punjab's paddy procurement

Amarinder Singh had been pursuing the issue of early release of CCL to ensure a timely payment of the paddy farmers

Finance ministry to recast direct tax panel after discord on suggestions

The government set up the panel in November last year to review the decades-old Income Tax Act and to draft a new Direct Tax Law

40-50% debt haircut can help boost stressed coal plants: CRISIL report

If haircuts are also supported with elongated repayment structures, lower interest rates, comfortable liquidity and adequate working capital, CRISIL says will make these projects financially viable

Fresh set of problems for India as Iran demands payment in euros

A bank guarantee in euros is impossible for India to offer since it will have to be made through a foreign bank

84 railway projects worth Rs 990 billion on cards to boost coal traffic

Once the coal projects are completed, the railways expects freight movement of 2 billion tonnes in three to five years

IL&FS crisis: Gujarat should take over GIFT City, says former director

In a petition, its first independent director also asks for an SFIO investigation

Firms could lose over Rs 100 billion due to rupee fall: CARE Ratings

India's total external debt as on March 31 was $529.3 billion, of which $202.2 billion are external commercial borrowings

Nirmala Sitharaman blames UPA for bad loans, defaulters fleeing country

She said that under the guise of providing loans to do business, banks were made to lend without assessing factors like repayment capabilities

1,600 combination drugs under govt lens, may face ban over safety issues

Of the 1,600 FDC drugs that are under watch now, around 600 are learnt to be vitamins

Rate cut must be passed on for each packet size, says GST authority

A retailer of Maggi had alleged that despite reduction in GST, the base price of a 35g pack was increased to bring it at par with the pre-rate change price, including taxes

RBI to inject Rs 120 bn into system on Oct 11 to manage liquidity

When the liquidity conditions are tight, RBI buys securities from the market, thereby releasing money into the market