Page 333 - Economy & Policy News
India's July palm imports surge, near one-year high on festive demand
India's palm oil imports rose more than 37 per cent in July from previous month to about 1.1 million metric tonnes, highest since Aug 2023 and in line with traders' estimates, SEA of India said
 "India's July palm imports surge, near one-year high on festive demand")
WPI inflation cools to 3-month low of 2.04% in July as food prices decline
On the other hand, the prices of potatoes (76.23 per cent) and fruits (15.62 per cent) accelerated during the month
 "WPI inflation cools to 3-month low of 2.04% in July as food prices decline")
India's exports fall 1.48% in July, trade deficit widens to $23.5 billion
Inbound shipments into the country rose 7.46 per cent to $57.48 billion during the month, leading to a trade deficit of $23.5 billion
 "India's exports fall 1.48% in July, trade deficit widens to $23.5 billion")
PE-VC funds investment declines sharply in July to $2.7 bn: Report
The bets were 42 per cent lower than $ 4.6 billion in the preceding month of June, and 35 per cent down from $ 4.1 billion in July last year
 "PE-VC funds investment declines sharply in July to $2.7 bn: Report")
India's short-term borrowing costs decline to lowest in two years
The yield on the 364-day treasury bill dipped to 6.7240 per cent in an auction on Wednesday, the least since September 2022
 "India's short-term borrowing costs decline to lowest in two years")
Govt looking at revising FDI policy, says commerce secretary Barthwal
Currently, the share of FDI equity inflows is a mere 0.01 per cent of the total inflows
 "Govt looking at revising FDI policy, says commerce secretary Barthwal")
HC sets aside assessment proceeding against NRI over faceless issue
It should be noted that the notification by the CBDT carved out an exception for international taxation cases, including NRIs, for reassessment
 "HC sets aside assessment proceeding against NRI over faceless issue")
'India, Russia central banks renew talks to expand local currency trade'
The discussions between the two central banks involve setting a reference rate between two local currencies for trade instead of determining the value of currencies against the US dollar
 "'India, Russia central banks renew talks to expand local currency trade'")
US consumer prices rebound in July, trend consistent with ease in inflation
The consumer price index increased 0.2 per cent last month after falling 0.1 per cent in June, the Labor Department's Bureau of Labor Statistics said
 "US consumer prices rebound in July, trend consistent with ease in inflation")
Imports from China up 13% to $10.2 bn, exports dip 9.44% to $1.5 bn in July
The country's exports also contracted to the UK, Germany, South Africa, Malaysia, France, Italy, Australia, Nepal, Brazil, Belgium, Turkey, and Indonesia during the month
 "Imports from China up 13% to $10.2 bn, exports dip 9.44% to $1.5 bn in July")
India's exports dip 1.2% to $33.98 bn in July, imports up by 7.45%
The trade deficit, or the gap between imports and exports, during the month under review stood at $23.5 billion
 "India's exports dip 1.2% to $33.98 bn in July, imports up by 7.45%")
UK inflation rises 2.2%, remains slightly less than expected in July
When the BoE cut interest rates from a 16-year high of 5.25 per cent at the start of this month, it said May and June's 2 per cent inflation readings probably marked a low point for inflation
 "UK inflation rises 2.2%, remains slightly less than expected in July")
MSMEs to get Rs 15,000-crore subsidy to boost recycling, efficiency
Set to launch by early 2025, the initiative will focus on establishing material recovery facilities (MRFs) and managing the treatment of post-consumption products
 "MSMEs to get Rs 15,000-crore subsidy to boost recycling, efficiency")
Govt likely to extend import regime for laptops, IT hardware products
The system kicked in on November 1 to promote domestic manufacturing of these goods and reduce dependence, especially on China
 "Govt likely to extend import regime for laptops, IT hardware products")
Eighth Economic Census likely next year; data for seventh awaited
Centre asks states, UTs to submit funds and manpower requirements to start work on 8th Census
 "Eighth Economic Census likely next year; data for seventh awaited")
Results of first-ever service sector annual survey to be out by year-end
In 2019-20, the government had decided to conduct ASSSE on a regular basis on the lines of Annual Survey of Industries (ASI), which is done annually
 "Results of first-ever service sector annual survey to be out by year-end")
Slowing consumer demand, growth risks fuel calls for interest rate cuts
The Reserve Bank of India has kept interest rates unchanged for more than 18 months, with Governor Shaktikanta Das saying last week that food prices remain a worry
 "Slowing consumer demand, growth risks fuel calls for interest rate cuts")
Wish I could bring down taxes to nil, says FM Nirmala Sitharaman
But there are challenges to overcome and the country needs money for that, says the finance minister
 "Wish I could bring down taxes to nil, says FM Nirmala Sitharaman")
Centre seeks legal path for labour codes amid state opposition: Report
The move comes amid West Bengal's hesitation to adopt the new labour codes which were introduced to improve the ease of doing business by the Centre
 "Centre seeks legal path for labour codes amid state opposition: Report")
Sugarcane set to reclaim dominance as ethanol feedstock next year: Industry
Industry experts anticipate a shift back to sugarcane-based molasses as the primary feedstock for ethanol production next year, driven by expected surplus sugar supplies and calls to lift restrictions
 "Sugarcane set to reclaim dominance as ethanol feedstock next year: Industry")