Page 311 - Economy & Policy News
AI will spur jobs but repetitive roles to be impacted: Deloitte top leader
Deloitte's Romal Shetty said that while AI could create more jobs but roles involving repetitive tasks are at risk. He also stressed that while regulations are crucial, it shouldn't stifle innovation
 "AI will spur jobs but repetitive roles to be impacted: Deloitte top leader")
Govt steps up buffer stock sale to control onion prices after duty removal
The government plans to increase retail sales of onions at a subsidised rate of Rs 35 per kg across India
 "Govt steps up buffer stock sale to control onion prices after duty removal")
Slowdown in business activity pulls flash PMI to its lowest levels in 2024
The rise in employment in the service sector was the steepest since August 2022
 "Slowdown in business activity pulls flash PMI to its lowest levels in 2024")
Centre to integrate EPFO, e-Shram database to track workforce formalisation
Move aims at tracking workforce formalisation in India
 "Centre to integrate EPFO, e-Shram database to track workforce formalisation")
India on right track to become Viksit Bharat by 2047: FM Sitharaman
The country needs to build institutional capabilities which is to look at the strength of the banks, the infrastructure the country has and the health of the companies
 "India on right track to become Viksit Bharat by 2047: FM Sitharaman")
Indian steel firms under pressure from rising imports, drop in exports
Global steel industry is facing a major threat due to surge in steel exports, particularly from China at predatory prices
 "Indian steel firms under pressure from rising imports, drop in exports")
Wheat markets not overpriced, say millers; warn against cutting import duty
The millers argue that wheat prices at current levels of around Rs 2,700-2,800 per quintal are well justified, given that the MSP of the crop has been raised
 "Wheat markets not overpriced, say millers; warn against cutting import duty")
India's maiden auction for critical minerals turns out to be a dampener
Govt back to drawing board to improve prospects in future rounds, industry expects more support
 "India's maiden auction for critical minerals turns out to be a dampener")
China testing us, Biden tells Quad leaders; Modi discusses Bangladesh
Quad a force for good, more strategically aligned than ever, says joint statement
 "China testing us, Biden tells Quad leaders; Modi discusses Bangladesh")
India signs IPEF's clean, fair economy agreement as PM Modi visits US
The pacts were signed during Prime Minister Narendra Modi's three-day visit to the US for the Quad Summit
 "India signs IPEF's clean, fair economy agreement as PM Modi visits US")
Window for pvt entry into CPSEs open; PESB takes steps to widen talent pool
Over the past one year, the PESB has taken steps to expand the talent pool from which it selects candidates
 "Window for pvt entry into CPSEs open; PESB takes steps to widen talent pool")
Operation Moonshot: Quad nations announces war on cervical cancer
Quad countries will work together with United Nations agencies on bulk purchasing of HPV diagnostics to bring down the cost of cervical cancer screening
 "Operation Moonshot: Quad nations announces war on cervical cancer")
Plan to open offices abroad to assist foreign investors: Piyush Goyal
This move reinforces India's commitment to deepening investment partnerships and making it easier for global investors to engage with India
 "Plan to open offices abroad to assist foreign investors: Piyush Goyal")
India, EU to begin next round of talks on free trade pact on Monday
The agreement is aimed at further boosting bilateral trade and investments between the two regions
 "India, EU to begin next round of talks on free trade pact on Monday")
Secrecy in IPEF talks raises concerns on protection of key interests: GTRI
The framework is structured around four pillars relating to trade, supply chains, clean economy and fair economy. India has joined all the pillars except the trade
 "Secrecy in IPEF talks raises concerns on protection of key interests: GTRI")
GoM on GST rate rationalisation to discuss slab, rate tweaks on Sep 25
During the August meeting, the panel had tasked the fitment committee comprising tax officers from the Centre and states to analyse implication of tax rate change on some items and gather more data
 "GoM on GST rate rationalisation to discuss slab, rate tweaks on Sep 25")
India likely to clock 7% growth in FY25 despite headwinds: Deloitte
According to Deloitte projections, growth is likely to be 6.7 per cent in the next fiscal year (2025-26), Indian economy grew 8.2 per cent in the previous fiscal year- 2023-24
 "India likely to clock 7% growth in FY25 despite headwinds: Deloitte")
India signs IPEF bloc's clean, fair economy agreements to boost cooperation
The agreements would help facilitate development, access, and deployment of clean energy and climate-friendly technologies; catalyse investment and strengthen measures for anti-corruption
 "India signs IPEF bloc's clean, fair economy agreements to boost cooperation")
Policymaking is nothing if not about trade-offs: CEA V Anantha Nageswaran
During his speech on policymaking at the launch of the Isaac Centre for Public Policy (ICPP) by Ashoka University in Bengaluru, Nageswaran emphasised the role of researchers
 "Policymaking is nothing if not about trade-offs: CEA V Anantha Nageswaran")
GCCI seeks urgent review of Supreme Court's mineral taxation ruling
It may adversely impact the downstream industries and lead to mining cost push inflation affecting the entire economy
 "GCCI seeks urgent review of Supreme Court's mineral taxation ruling")