Page 450 - Economy & Policy News
Govt to spend less on farmer fertiliser subsidy as world prices soften
India's budget deficit is projected to be 5.8% of gross domestic product in 2023-24. The government aims to curb the deficit to 5.1% in the next financial year
 "Govt to spend less on farmer fertiliser subsidy as world prices soften")
Power consumption rises nearly 6% to 133.83 billion units in January
In January 2023, power consumption stood at 126.30 BU, higher than 111.80 BU recorded in the same month a year ago, the data showed
 "Power consumption rises nearly 6% to 133.83 billion units in January")
India yet to see significant improvement in debt affordability: Moody's
Moody's in August had affirmed a 'Baa3' rating on India with a stable outlook. A higher rating implies lower economic risk, allowing a country to borrow at cheaper rates
 "India yet to see significant improvement in debt affordability: Moody's")
Govt extends export incentive scheme for apparel, garment till March 2026
The government on Thursday approved the continuation of an export incentive scheme - RoSCTL - for apparel, garments and made-ups up to March 31, 2026.
 "Govt extends export incentive scheme for apparel, garment till March 2026")
GST collections to drive FY25 gross tax revenue to Rs 38.31 trillion
Goods and Services Tax (GST) collection in 2024-25 is estimated to rise to Rs 10.68 trillion , an increase of Rs 1.1 trillion or 11.6 per cent
 "GST collections to drive FY25 gross tax revenue to Rs 38.31 trillion")
Landmark Indo-Pacific supply chain pact to come into force on February 24
The agreement is aimed at coordination among the IPEF partners on building resilient, efficient, productive, sustainable, transparent, diversified, secure, fair, and inclusive supply chains
 "Landmark Indo-Pacific supply chain pact to come into force on February 24")
Budget 2024: What is 'Blue Economy 2.0' announced to boost aquaculture
Budget 2024: Nirmala Sitharaman presented her sixth consecutive budget, an interim one, in the Parliament on Thursday
 "Budget 2024: What is 'Blue Economy 2.0' announced to boost aquaculture")
Govt projected to receive Rs 1.02 trn as dividend from RBI, PSBs in FY25
The government is set to earn a higher dividend of Rs 1.04 trillion in the current fiscal against the Budget Estimate of Rs 48,000 crore
 "Govt projected to receive Rs 1.02 trn as dividend from RBI, PSBs in FY25")
US announces key pact on supply chain resilience under Indo-Pacific
The US Department of Commerce said the Indo-Pacific Economic Framework for Prosperity (IPEF) agreement relating to supply chain resilience will enter into force on February 24
 "US announces key pact on supply chain resilience under Indo-Pacific")
India-Middle East-Europe corridor game changer for us, says FM Sitharaman
The Union Minister also underscored the success of India's G20 presidency and said that during the tough times engulfed by the COVID-19 pandemic, India navigated its way and addressed global problems
 "India-Middle East-Europe corridor game changer for us, says FM Sitharaman")
Proactive management helps keep inflation within manageable level: FM
The annual inflation based on the Consumer Price Index (CPI) was at 5.55 per cent in November and 5.72 per cent in the year-ago month
 "Proactive management helps keep inflation within manageable level: FM")
India's manufacturing PMI rises to four-month high of 56.5 in January
New orders placed with Indian goods producers rose at a sharp pace in January and were the strongest in four months
 "India's manufacturing PMI rises to four-month high of 56.5 in January")
Commercial LPG rates up by Rs 14 in Delhi, ahead of Budget 2024 session
Domestic LPG cylinder prices remain unchanged and ATF prices for domestic flights in Delhi saw a slight decrease
 "Commercial LPG rates up by Rs 14 in Delhi, ahead of Budget 2024 session")
At Rs 9.82 trillion, April-Dec fiscal deficit 55% of govt's annual target
The fiscal deficit was marginally lower at Rs 9.9 trillion, recorded during the corresponding period last year
 "At Rs 9.82 trillion, April-Dec fiscal deficit 55% of govt's annual target")
Core sector growth hits 14-month low of 3.8% in Dec due to high base
Only fertilisers and cement sectors see acceleration in output
 "Core sector growth hits 14-month low of 3.8% in Dec due to high base")
EPFO releases guidelines for EPS members having multiple accounts
The present guidelines are to streamline the claims process, as many times a member has multiple accounts and the contributed amount varies, causing trouble during the calculation of the amount
 "EPFO releases guidelines for EPS members having multiple accounts")
Regular wage employment for general category people worst in 5 years: PLFS
Decline in regular wage employment in general category led to an increase in self-employment and casual work
 "Regular wage employment for general category people worst in 5 years: PLFS")
Govt appoints 3 full-time, 1 part-time member of 16th Finance Commission
The Finance Commission is a constitutionally mandated body established once every 5 yrs to devise a formula for distributing net tax proceeds between the Centre and the states
 "Govt appoints 3 full-time, 1 part-time member of 16th Finance Commission")
China's factory activity shrinks again in January, demand still weak
The composite PMI, which includes manufacturing and services, was at a four-month high of 50.9 in January compared with 50.3 the previous month
 "China's factory activity shrinks again in January, demand still weak")
RBI's digital payments index jumps to 418.77 in Sept from 395.57 in Mar
RBI's Digital Payments Index comprises five broad parameters that measure the penetration of digital payments in the country over different time periods
 "RBI's digital payments index jumps to 418.77 in Sept from 395.57 in Mar")