Page 278 - Economy & Policy News
Govt's focus on FDI liberalisation to boost industrialisation: DPIIT
Initiatives like the National Industrial Corridor Program, Production Linked Incentive (PLI) scheme, and the ease of doing business reforms have facilitated industrial growth, DPIIT secy said
 "Govt's focus on FDI liberalisation to boost industrialisation: DPIIT")
CEA advises India Inc not to seek protective cover of weak currency
A weak currency can be good for exporters, making their products relatively less expensive for buyers abroad
 "CEA advises India Inc not to seek protective cover of weak currency")
Ficci seeks PLI 2.0, tariff review to boost electric vehicle growth
For instance, eligibility for the auto original equipment manufacturer (OEM) PLI requires global group revenues of at least Rs 10,000 crore and investments in fixed assets of Rs 3,000 crore
 "Ficci seeks PLI 2.0, tariff review to boost electric vehicle growth")
Karnataka Milk Federation launches Nandini products in Delhi-NCR market
The Federation is introducing its dairy products at a discount to key competitors' products in a bid to gain a foothold in the new market
 "Karnataka Milk Federation launches Nandini products in Delhi-NCR market")
ECBs net inflows rise to $7.9 bn in H1FY25 from $6.8 bn in H1FY24: RBI data
Analysis of the end-use of registrations showed that ECBs for import or local sourcing of capital goods were pegged at $1.3 billion in H1FY25, sharply down from $9.4 billion in H1FY24
 "ECBs net inflows rise to $7.9 bn in H1FY25 from $6.8 bn in H1FY24: RBI data")
Outward remittances under LRS drop 14.88% in H1FY25, shows RBI data
The remittances for maintenance of close relatives fell by 37.17 per cent Year-on-Year (YoY) to $1.92 billion as compared to $3.05 billion
 "Outward remittances under LRS drop 14.88% in H1FY25, shows RBI data")
RBI buys a net $8.52 billion in first half of FY25, says bulletin
The RBI had net sold $6.49 billion in the spot market in August. In the current financial and calendar year, the central bank has been a net seller of dollars in three months - April, June, and August
 "RBI buys a net $8.52 billion in first half of FY25, says bulletin")
EPFO net member addition rises 9.33% to 1.88 million in September
This surge in new memberships can be attributed to growing employment opportunities, increased awareness of employee benefits and EPFO's outreach programmes, it noted
 "EPFO net member addition rises 9.33% to 1.88 million in September")
Govt prepares city logistics plan for Delhi, Bengaluru to tackle pollution
Thakur noted that the plan aligns with the government's Ease of Doing Business (EoDB) agenda and India's goal of achieving carbon Net Zero by 2070
 "Govt prepares city logistics plan for Delhi, Bengaluru to tackle pollution")
Finance ministry directs major PSBs to fast-track re-KYC verification
Out of 53.9 crore Pradhan Mantri Jan-Dhan Yojana accounts, 11.2 crore are inoperative and 10.5 crore accounts are pending for re-KYC
 "Finance ministry directs major PSBs to fast-track re-KYC verification")
Inflation other than in food sector is not a challenge: Ajay Seth
Economic affairs secy refuses to comment on rate cut, saying 'that's a monetary policy action'
 "Inflation other than in food sector is not a challenge: Ajay Seth")
India's REER in FY24 lower than consistent levels, says RBI Bulletin
In October 2024, the rupee appreciated by 1.8 per cent month-on-month (M-o-M) in terms of the 40-currency REER
Gross FDI in India rises 25.7% in H1FY25; net FDI moderates to $3.6 bn
With rising global investments in artificial intelligence start-ups, India is well-positioned to leverage its rapidly growing AI ecosystem to attract further investments and stimulate innovation
 "Gross FDI in India rises 25.7% in H1FY25; net FDI moderates to $3.6 bn")
Pvt consumption back, medium-term economic outlook bullish: RBI Bulletin
Record production estimates for kharif foodgrains as well as promising rabi crop prospects augur well for farm income and rural demand, going forward
 "Pvt consumption back, medium-term economic outlook bullish: RBI Bulletin")
Growth likely slowed in Q2 but no significant downside risk in FY25: DEA
On capex, Seth said the government's capital expenditure may see some undershooting of the Rs 11.11 trillion in the current fiscal year
 "Growth likely slowed in Q2 but no significant downside risk in FY25: DEA")
India, Australia firm up clean energy partnership; pushing mega trade pact
Both sides are keen to build on the momentum created by the Economic Cooperation and Trade Agreement (ECTA) which was signed in 2022
 "India, Australia firm up clean energy partnership; pushing mega trade pact")
India-UK FTA talks: Both sides seek to bridge gaps to close deal swiftly
Starmer and PM Modi met on the sidelines of the summit in Rio de Janeiro on Monday
 "India-UK FTA talks: Both sides seek to bridge gaps to close deal swiftly")
GDP growth likely to slip to 6.5%, FY25 growth estimate at 7%: ICRA
The RBI is sticking to its estimate of 7.2 per cent growth for the fiscal, but a majority of watchers expect it to be under the 7 per cent
 "GDP growth likely to slip to 6.5%, FY25 growth estimate at 7%: ICRA")
Coal plants in India set to miss pollution goal as smog chokes Delhi
About three-quarters of the coal-fired generators near major cities are set to miss a year-end deadline to install equipment to curb sulfur-dioxide emissions
 "Coal plants in India set to miss pollution goal as smog chokes Delhi")
India, UK to relaunch FTA talks in 2025, 'address remaining issues'
Announcement follows first meeting between Prime Minister Modi and his British counterpart during G-20 summit in Brazil
 "India, UK to relaunch FTA talks in 2025, 'address remaining issues'")