Page 302 - Economy & Policy News
RBI decides to hold policy repo rate; changes stance gear to neutral
Das says inflation-growth balance well-poised; rates may start falling from Dec
 "RBI decides to hold policy repo rate; changes stance gear to neutral")
Net direct tax collection grows 18% to Rs 11.25 trillion: Govt data
Refunds worth Rs 2.31 trillion were issued between April 1 and October 10, a growth of 46 per cent
 "Net direct tax collection grows 18% to Rs 11.25 trillion: Govt data")
European Union's deforestation regulation, carbon tax unfair: Piyush Goyal
Major agriculture-exporting countries, including Brazil, India, Indonesia and the US, have raised objections to the EU Deforestation Regulation (EUDR)
 "European Union's deforestation regulation, carbon tax unfair: Piyush Goyal")
Russian exporters fear liquidity crunch as payments stall on sanctions risk
That's adding to pressures on their cash reserves, the people said, particularly as overnight borrowing costs on domestic and foreign currencies have surged above 20% and there's little
 "Russian exporters fear liquidity crunch as payments stall on sanctions risk")
Life insurers' new business premium rises 14% to Rs 35K cr in September
Meanwhile, Life Insurance Corporation (LIC) collected new premium of Rs 20,369 crore as against Rs 18,126 crore in September 2023, recording a growth of 25 per cent
 "Life insurers' new business premium rises 14% to Rs 35K cr in September")
Edible oils import falls 29% in Sep tonnes on lower palm oil shipments
According to the data, import of vegetable oils in September declined 30 per cent to 10,87,489 tonnes compared to 15,52,026 tonnes a year earlier
 "Edible oils import falls 29% in Sep tonnes on lower palm oil shipments")
WTO cuts 2025 world merchandise trade growth forecast to 3% from 3.3%
The first half of 2024 saw 2.3 per cent year-on-year increase. The rebound came against the backdrop of a slump in 2023 - of 1.1 per cent - driven by high inflation and rising interest rates
 "WTO cuts 2025 world merchandise trade growth forecast to 3% from 3.3%")
Economists caution on RBI's growth optimism, project FY25 growth below 7.2%
RBI's confidence on growth has surprised market participants at a time when high frequency indicators pointing towards slowing economic activity
 "Economists caution on RBI's growth optimism, project FY25 growth below 7.2%")
Centre considers seed funding to establish a shipping insurance entity
The finance ministry may undertake an amendment to the Insurance Act, which will allow mutual insurance associations
 "Centre considers seed funding to establish a shipping insurance entity")
Manufacturing output to jump 9% if more women join workforce: World Bank
The report said that in all South Asian countries, output gains from closing the gender gap in labour force participation would be driven by the manufacturing sector, followed by the services sector
 "Manufacturing output to jump 9% if more women join workforce: World Bank")
Bernstein quants downgrade Indian stocks, predict further upside for China
The quant strategists lowered their call on India to underweight from neutral, citing expectations for continued foreign outflows and weak earnings
 "Bernstein quants downgrade Indian stocks, predict further upside for China")
How MoSPI is tackling methodological concerns via GDP base year revision
MoSPI's move to revise the GDP base year aims to improve accuracy, address past controversies, and align with updated economic realities, while consulting experts on new datasets and methodologies
 "How MoSPI is tackling methodological concerns via GDP base year revision")
Govt repurchases Rs 24,453 crore worth of bonds through buyback auction
The demand at the auction was better than in previous buyback auctions conducted by the RBI in the current financial year
 "Govt repurchases Rs 24,453 crore worth of bonds through buyback auction")
Give borrower info until loan cycle or shutdown: RBI to credit institutions
In these cases, the repayment history of these entities' borrowers is not updated, even if they continue to repay or clear their dues
 "Give borrower info until loan cycle or shutdown: RBI to credit institutions")
Centre releases Rs 1.78 trn advance for states ahead of festive season
By norm, money from the divisible tax pool is devolved to states in 14 annual instalments: 11 in 11 months and three in March
 "Centre releases Rs 1.78 trn advance for states ahead of festive season")
Rajasthan to launch new mineral policy to boost revenue, streamline mining
The policy will be unveiled before the "Rising Rajasthan" summit in December based on stakeholder input
 "Rajasthan to launch new mineral policy to boost revenue, streamline mining")
World Bank raises S Asia growth forecast to 6.4% on Indian domestic demand
India's economic growth forecast for the current fiscal year, ending in March 2025, was revised to 7 per cent year-on-year
 "World Bank raises S Asia growth forecast to 6.4% on Indian domestic demand")
Retail inflation in September likely overshot RBI's 4% target: Poll
Food items, especially vegetables and other perishables, which make up a significant share of overall household spending in the country, saw an uptick in prices
 "Retail inflation in September likely overshot RBI's 4% target: Poll")
Nearly 50,000 internship opportunities posted on portal: MCA officials
The Ministry of Corporate Affairs would make the portal open for candidates to apply from October 12th to October 25th
 "Nearly 50,000 internship opportunities posted on portal: MCA officials")
Consumer confidence improves in Sept on better economic conditions: RBI
Price and inflationary pressures eased across all product groups
 "Consumer confidence improves in Sept on better economic conditions: RBI")