Page 254 - Economy & Policy News
Fintech sector voices concerns amid regulatory fears in meeting with FinMin
The fintech sector has expressed its concerns about declining investments, particularly from abroad, as the narrative around this sector has become less positive
 "Fintech sector voices concerns amid regulatory fears in meeting with FinMin")
Consumption jump, slower capex likely in FY25: NSO's 1st advance estimates
Rural spending may drive consumption growth, while capex may moderate amid fiscal constraints
 "Consumption jump, slower capex likely in FY25: NSO's 1st advance estimates")
FY25 GDP growth may slip to 4-yr low of 6.4%: NSO's first advance estimates
Falls short of RBI estimate; better showing in agri and manufacturing expected in H2
 "FY25 GDP growth may slip to 4-yr low of 6.4%: NSO's first advance estimates")
10th oil and gas bidding round only after passage of oilfield Bill
Upcoming legislation meant to streamline exploration and production
 "10th oil and gas bidding round only after passage of oilfield Bill")
India's real GDP growth to come in at 6.2% in FY25, 6.5% in FY26: HSBC
The Q2FY25 growth number at 5.4 per cent was disappointing, HSBC said in a report, adding that it expects the gross value added growth in the December quarter to go up to 6.5 per cent
 "India's real GDP growth to come in at 6.2% in FY25, 6.5% in FY26: HSBC")
India's fuel consumption rises 2.1% to hit seven-month high in December
On a monthly basis, fuel demand was up over 1 per cent from 20.46 million tons in November, data from the Petroleum Planning and Analysis Cell's (PPAC) website showed
 "India's fuel consumption rises 2.1% to hit seven-month high in December")
Monthly natural gas trades shoot up 129% in Dec: Indian Gas Exchange
Rising global prices, cut in APM gas allocation behind higher trades
 "Monthly natural gas trades shoot up 129% in Dec: Indian Gas Exchange")
FinMin to hold meeting with MFI players on Wed amid rising bad loans
Credit to the microfinance sector by banks (including SFBs), NBFC-MFIs and other NBFCs has decelerated during the current financial year so far after witnessing rapid growth during the last three year
 "FinMin to hold meeting with MFI players on Wed amid rising bad loans")
India's GDP likely to grow 6.4% in 2024-25, show first advance estimates
Economic Survey had projected a GDP growth of 6.5% to 7%. This was later revised to 6.5% by the finance ministry in November 2024
 "India's GDP likely to grow 6.4% in 2024-25, show first advance estimates")
2023 income inequality exceeded 1950s levels in India, says report
The Gini coefficient measures the extent to which the distribution of income among individuals or households within an economy deviates from a perfectly equal distribution
 "2023 income inequality exceeded 1950s levels in India, says report")
Demand buoyancy pushes services PMI to 4-month high of 59.3 in December
The higher demand supported output growth and prompted firms to recruit additional workers
 "Demand buoyancy pushes services PMI to 4-month high of 59.3 in December")
Railways ministry spends 76% of FY25 capital expenditure by December
The ministry has spent Rs 1.91 trillion from the gross budgetary support, Rs 824 crore from external resources, and Rs 8,733 crore from extra-budgetary resources on infrastructure creation
 "Railways ministry spends 76% of FY25 capital expenditure by December")
Trade unions urge FM to prioritise jobs, 8th Pay Commission, MGNREGA boost
The unions further demanded an increase in the income tax exemption rebate limit to Rs 10 lakh per annum and a social security scheme for gig workers
 "Trade unions urge FM to prioritise jobs, 8th Pay Commission, MGNREGA boost")
Jobs, growth, demand in focus as FinMin concludes pre-Budget talks
The Union Budget for FY 2025-26 assumes significance as it comes on the back of lower than expected growth numbers in the second quarter and geopolitical uncertainty
 "Jobs, growth, demand in focus as FinMin concludes pre-Budget talks")
Gujarat HC provides relief, says no GST on transfer of state land leases
The court's decision not only alleviates the financial strain on affected businesses but also addresses long-standing concerns regarding double taxation
 "Gujarat HC provides relief, says no GST on transfer of state land leases")
Industry seeks extension of RoDTEP scheme to SEZs, EOUs till Sep-end
Currently, the RoDTEP scheme for exports from the domestic tariff area (DTA) or the domestic market is in place until September 30
 "Industry seeks extension of RoDTEP scheme to SEZs, EOUs till Sep-end")
For goods sent abroad for repairs, no tax implication based on value
The facility to import components under EPCG scheme for assembly or manufacture of capital goods by the importer was available earlier but has been discontinued since 2004
 "For goods sent abroad for repairs, no tax implication based on value")
DPDP Act's long gestation period raises questions about its efficacy
The DPDP Act comes with a long gestation period. What does that mean for its efficacy?
 "DPDP Act's long gestation period raises questions about its efficacy")
Outlook 2025: Govt capex, safeguard duty key to steel sector performance
The monthly average price for December 2023 was Rs 55,000 per tonne while for December 2024, it stood at Rs 46,900 per tonne
 "Outlook 2025: Govt capex, safeguard duty key to steel sector performance")
Saudi oil giant ups crude prices for Asian buyers amid tightening supply
The world's top oil exporter Saudi Aramco announced its first crude oil price hike in three months
 "Saudi oil giant ups crude prices for Asian buyers amid tightening supply")