Page 2638 - Economy & Policy News

Finance Ministry simplifies process for additional borrowing by states

States are eligible for 0.25% over and above the 3% for any given year for which the borrowing limits are to be fixed, if their debt-GSDP ratio is less than or equal to 25% in the preceding year

Infrastructure development can't be done locally, says AIIB

The panel stressed on the importance of both hard and soft infrastructure to boost cross-border trade and relations

India needs $4.5 trillion infra spending over next decade: FM Piyush Goyal

Goyal refuted any charges that Indian banks are shying away from infrastructure projects, but said they have provided yeoman services to the country's infrastructure growth will continue to do so

AIIB annual meeting 2018: Some states yet to warm up to agency funding

The interest rates are high at 9 to 9.5 per cent, Fadnavis said on the sidelines of the conference

UCBs with deposits of Rs 1bn should have Boards of Management, says RBI

BoM will be in addition to the Board of Directors (BoD), said the RBI's draft guidelines on which it has invited public comments by July 24.

Mineral block auctions hit speed bump, only 41 of 78 identified blocks sold

In current fiscal, six mineral blocks have passed auction test, though Notice Inviting Tenders are ongoing for 22 others

Government mulls injecting Rs 4.6 bn into pharma to reduce bulk drugs cost

Five sub-schemes have been announced under the pharma development programme with the objective to reduce the cost of production by 20-25 per cent in bulk drug parks.

UP Defence Manufacturing Policy coming soon, says Industry Minister

To boost Rs 200 billion Bundelkhand Defence Corridor

Ban on import of milk products from China extended by 6 months to Dec 2018

Although India does not import milk, milk products from China, it has imposed the ban as a preventive measure

AIIB is willing to invest in cross-border projects in Asia: Najeeb Haider

Lending agency to debate on how to come closer to being the region's bank of choice for the segment

Capital cost for $4.5 trillion infra investment a challenge: Piyush Goyal

Capacity building to handle big infra projects is also a challenge, he added

A Jharkhand power plant could herald a $38 bn headache for India's banks

The problem is especially acute for state-owned banks, which are already reeling under the weight of their problem debts

Arun Jaitley kept in the loop, while Piyush Goyal runs finance ministry

Since Goyal was given the additional charge of Finance on May 14, the most visible work he has done has been on state-owned banks

Srikrishna committee trying for consensus on data localisation

The latest meet, on June 17, had some members saying they wanted a more open eco-system, instead of asking all data to be stored in the country

AIIB to give India $200 million for road, energy and infrastructure

In contrast, 75 per cent of the capital at the AIIB has been contributed by Asian economies

Legal challenge to 360-degree appraisal of IAS officers fizzles out

Officer who challenged it in court again found unfit to serve at Centre, but made Himachal Pradesh chief secretary

On the rise: EPFO monthly payroll count jumps 43% in just a month

EPFO says the data is raw and though it is indicative of jobs to some extent, it does not give a clear explanation on creation of livelihoods

GST impact: Going gets rough for Surat's diamond, textile traders

The impact of GST is particularly stark in the highly fragmented synthetic textile industry, which attracts different GST rates at different stages of production and sale

AIIB meet to face people's challenge as activists attack infra financing

A large number of representatives from various people's movements across the country are gearing up for a fight with the Asian Infrastructure Investment Bank

Monsoon to bring relief from heat in central, north India in 2-3 days: IMD

The monsoon is expected to hit Delhi on June 29, its normal onset date for the national capital