Page 378 - Economy & Policy News
India to sign IPEF agreements after formation of the new government
IPEF clean energy investor forum identifies projects worth $23 billion
 "India to sign IPEF agreements after formation of the new government")
Monthly natural gas trades shoot up 480% in May: Indian Gas Exchange
Higher demand from gas-based power plants amid hot weather fuelled the rise
 "Monthly natural gas trades shoot up 480% in May: Indian Gas Exchange")
Costlier vegetables made your thali more expensive by 9% in May: CRISIL
A vegetarian thali has roti, onion, tomato, potato, rice, dal, curd, and salad. A non-vegetarian thali has the same foods but chicken (broiler) replaces dal
 "Costlier vegetables made your thali more expensive by 9% in May: CRISIL")
Coalition, weak mandate may hinder passing ambitious reforms: Fitch
Weaker fiscal metrics relative to peers are a significant constraint for India's sovereign rating, which we affirmed at 'BBB-' with a Stable Outlook in January 2024
 "Coalition, weak mandate may hinder passing ambitious reforms: Fitch")
RBI MPC June meeting underway: It's goal, members; everything explained
The RBI MPC is entrusted with the responsibility of monetary policy in India with the primary objective of maintaining price stability while keeping in mind the objective of growth
 "RBI MPC June meeting underway: It's goal, members; everything explained")
Scorching heat fuels India's gas-fired power use to multi-year highs in May
More than 75 per cent of India's power generation was from coal in 2023, while gas-fired plants have accounted for only about 2 per cent in recent years, largely because of the high cost of gas
 "Scorching heat fuels India's gas-fired power use to multi-year highs in May")
RBI may keep interest rates on hold as slim Modi win boosts fiscal risks
Economists had already been pushing their forecasts for rate cuts to later in the year, predicting the RBI won't move until the US Federal Reserve pivots
 "RBI may keep interest rates on hold as slim Modi win boosts fiscal risks")
Rupee rises 1 paisa to 83.43 against US dollar in early trade
Forex traders said an upward movement in the crude oil prices resisted a sharp rise in the Indian currency even as investors moved cautiously ahead of the RBI's monetary policy decision.
 "Rupee rises 1 paisa to 83.43 against US dollar in early trade")
RBI Monetary Policy June 2024: Check date, time and what to expect
RBI Policy: The six-member committee tasked with setting India's benchmark interest rate, the repo rate, will meet from June 5 to June 7
 "RBI Monetary Policy June 2024: Check date, time and what to expect")
India seeks arbitration proceedings with Aus under WTO rules on services
The official said India has already communicated to the World Trade Organisation (WTO) regarding its request for arbitration on the issue
 "India seeks arbitration proceedings with Aus under WTO rules on services")
No exemption for SEZ units under the proposed Central Excise Bill
Officials get to audit businesses; duty recovery time increases to three years
 "No exemption for SEZ units under the proposed Central Excise Bill")
Rail coal freight volume rises 9.3% on summer demand pull: Govt data
All other commodities flat or lower as rail freight grows 3.9% in May
 "Rail coal freight volume rises 9.3% on summer demand pull: Govt data")
May services growth at five-month low as domestic demand weakens
HSBC India Services PMI says firms optimistic and hiring up as input costs rise
Govt borrowing cut expectations fade as coalition govt takes shape
The bond market anticipates that the Reserve Bank of India (RBI) will continue conducting buyback auctions to manage the government's surplus cash
 "Govt borrowing cut expectations fade as coalition govt takes shape")
Passing major reforms may prove difficult for next govt: Rating agencies
Rating agencies, such as Fitch and Moody's, said broad policy continuity may persist
 "Passing major reforms may prove difficult for next govt: Rating agencies")
ARAI to invest Rs 500 cr over next 4-5 yrs to enhance H2ICE testing infra
The agency already has testing capabilities for ethanol 20 fuel-compliant vehicles
 "ARAI to invest Rs 500 cr over next 4-5 yrs to enhance H2ICE testing infra")
White collar hiring improves on demand from oil & gas, banking sectors
Hiring activity grew by 6 per cent in May compared to April driven by sectors like Healthcare and the Travel and Hospitality, according to the report
 "White collar hiring improves on demand from oil & gas, banking sectors")
Tight election will increase prospect of productive reforms: CEA Nageswaran
Voters returned Prime Minister Narendra Modi for a third term but with a reduced margin that has left his Hindu nationalist party needing coalition partners to govern
 "Tight election will increase prospect of productive reforms: CEA Nageswaran")
Modi 3.0: Moody's anticipates steady policies but sees reform delays
The rating agency said although it projects India to grow faster than all other economies in the G20 through fiscal 2025-26, near-term economic momentum masks structural weaknesses
 "Modi 3.0: Moody's anticipates steady policies but sees reform delays")
RBI's Monetary Policy Committee second meeting of FY25 from June 5-7
A poll by Bloomberg revealed that economists expected the India's central bank to maintain the repo rate at 6.5 per cent for the eight consecutive time