Page 432 - Economy & Policy News
Fresh formal jobs created last year fell nearly 10%, shows EPFO data
EPFO data shows 10.78 mn new users joined compared to 11.93 mn in 2022
 "Fresh formal jobs created last year fell nearly 10%, shows EPFO data")
Govt extends the interest equalization scheme until June 30, 2024
The scheme, inaugurated on April 1, 2015, was originally slated for a five-year duration until March 31, 2020
 "Govt extends the interest equalization scheme until June 30, 2024")
IMEC has potential to create more opportunities: Albanian foreign minister
Hasani, who is in the national capital to attend the Raisina Dialogue, said the India Middle-East Economic Corridor (IMEC) has the potential to create more market opportunities
Premature move on monetary policy could hurt inflation efforts: RBI Guv
He stressed that the MPC must remain committed to successfully navigate the "last mile" of disinflation that can be sticky
 "Premature move on monetary policy could hurt inflation efforts: RBI Guv")
India's GDP growth likely to moderate to 6.5% in FY25: India Ratings
On the consumption side, India Ratings expects private final consumption expenditure to grow by 6.1 per cent in FY25, up from 4.4 per cent in FY24
 "India's GDP growth likely to moderate to 6.5% in FY25: India Ratings")
Uttar Pradesh govt to tap into CSR funds for development projects
UP's Chief Secretary Durga Shankar Mishra said the state will organise a 'UP CSR Summit' to script a new chapter in the process of collaborative socioeconomic development
 "Uttar Pradesh govt to tap into CSR funds for development projects")
Mineral output increases by 5.1% in December, says mines ministry
In December, the production of coal stood at 929 lakh tonnes while that of lignite at 40 lakh tonnes, iron ore at 255 lakh tonnes and limestone at 372 lakh tonnes
 "Mineral output increases by 5.1% in December, says mines ministry")
Reforms in last 10 yrs are foundation of growth over next decade: Jefferies
It also said that India would become the third largest economy by 2027 and expected to achieve a market capitalization of USD 10 trillion by 2030
 "Reforms in last 10 yrs are foundation of growth over next decade: Jefferies")
Space leasing for light manufacturing activities rises 23% in 2023: C&W
The leasing of industrial space stood at 12.91 million square feet in the calendar year 2022
 "Space leasing for light manufacturing activities rises 23% in 2023: C&W")
January crude imports hit 21-month high due to strong Industrial demand
Crude oil imports in January rose 9.5% month-on-month to 21.39 million metric tons, and were up 5.7% on year-on-year basis, Petroleum Planning and Analysis Cell (PPAC) data showed on Thursday
 "January crude imports hit 21-month high due to strong Industrial demand")
Space industry says easing of FDI norms will pave way for innovation
Industry bodies Indian Space Association (ISpA) and Satcom Industry Association of India (SIA-India) also hailed the decision of the Union Cabinet to amend the FDI policy for the space sector
 "Space industry says easing of FDI norms will pave way for innovation")
Confident of India's growth at 6-8% for next 10 years, says Vaishnaw
The next five years will further lay the foundation for India to become a developed country by 2047, he said
 "Confident of India's growth at 6-8% for next 10 years, says Vaishnaw")
From ecosystems to economics: The potential of a 'species stock exchange'
Creating interdependence between funding and ecological outcomes can establish an accountable framework, augmenting the efficacy of conservation initiatives
 "From ecosystems to economics: The potential of a 'species stock exchange'")
Govt should boost Green Revolution 2.0 for less water-intensive crops: GTRI
Just two crops, paddy and wheat, account for around 90-95 per cent value of total MSP purchases and the maximum procurement of paddy is done in states like Punjab and Haryana
 "Govt should boost Green Revolution 2.0 for less water-intensive crops: GTRI")
Russia's disrupted oil trade squeezes profit margins for Indian refiners
Attacks in the Red Sea have driven up freight rates, while tougher US sanctions have stranded some Russian cargoes destined for India, adding to costs
 "Russia's disrupted oil trade squeezes profit margins for Indian refiners")
India-EU FTA must be fair, equitable and balanced: Goyal at CII event
The minister further elaborated on the plethora of opportunities in the various sectors across India
 "India-EU FTA must be fair, equitable and balanced: Goyal at CII event")
UK minister to discuss progress of 'ambitious' trade deal in India
According to official figures, the bilateral trade between India and the UK increased to $20.36 billion in 2022-23 from $17.5 billion in 2021-22
 "UK minister to discuss progress of 'ambitious' trade deal in India")
CRISIL SME tracker: Revenue outlook positive for security services MSMEs
In the next financial year, the revenue is expected to grow 9-11 per cent as Lok Sabha elections in April-May are expected to boost demand
 "CRISIL SME tracker: Revenue outlook positive for security services MSMEs")
FSDC meet discusses ways for simplification, digitisation of KYC process
Take more steps to curb illegal lending apps: FM
 "FSDC meet discusses ways for simplification, digitisation of KYC process")
India's GDP growth to moderate to 6.5% in FY25, projects Morgan Stanley
Morgan Stanley Research's report said that it maintained a constructive outlook on the Indian economy, while highlighting that risks emanate from global factors and elections in May 2024
 "India's GDP growth to moderate to 6.5% in FY25, projects Morgan Stanley")