Page 464 - Economy & Policy News
UK economy grew more than expected in Nov but still risks recession
Britain's economy struggled to gain momentum in 2023, as households were squeezed by rapid inflation and the highest Bank of England (BoE) interest rates in 15 years
 "UK economy grew more than expected in Nov but still risks recession")
Flying high: Phone exports near FY23's tally in just 9 months of FY24
iPhones have contributed $7 bn to India's total $10.5 bn exports
 "Flying high: Phone exports near FY23's tally in just 9 months of FY24")
Energy security: India considering options for strategic petroleum reserves
India's plans to replace most petrol vehicles with electric ones may fall well short of the target, forcing the country to continue depending on crude oil
 "Energy security: India considering options for strategic petroleum reserves")
Delays in IBC erode value of assets, says RBI governor Shaktikanta Das
Das says cybersecurity threat remains a major challenge
 "Delays in IBC erode value of assets, says RBI governor Shaktikanta Das")
Interim Budget: MedTech industry urges govt action to cut import reliance
According to the Global Trade Research Initiative (GTRI) report on August 2023, the Indian medical devices industry has the potential to expand from $12 billion to $50 billion by 2030
 "Interim Budget: MedTech industry urges govt action to cut import reliance")
Need to rationalise customs duties in sectors with healthy growth: Official
The official, however, said that providing a protection of high duty is required for the infant domestic industry
 "Need to rationalise customs duties in sectors with healthy growth: Official")
India to press for social security pact at Trade Policy Forum meet with US
New Delhi will raise issues of visa delay, exports of pharma goods and marine products
 "India to press for social security pact at Trade Policy Forum meet with US")
Direct listing of stocks at GIFT City soon, says FM Nirmala Sitharaman
Sitharaman said that IFSC should become the platform for the trade of carbon credit
 "Direct listing of stocks at GIFT City soon, says FM Nirmala Sitharaman")
India negotiating with UK to avoid double contribution to social security
Indian professionals working for a limited period in Britain contribute to their social security funds but not able to get its benefit as they return once the projects are complete
 "India negotiating with UK to avoid double contribution to social security")
Inter-ministerial meeting next week to discuss ongoing Red Sea crisis
The development comes in the backdrop of the Red Sea crisis impacting global trade
 "Inter-ministerial meeting next week to discuss ongoing Red Sea crisis")
Inter-ministerial meet next week over issues on trade from Red Sea crisis
The commerce ministry has also set up an internal strategic group, comprising additional secretaries of the ministry, to discuss global issues impacting the country's trade on a daily basis
 "Inter-ministerial meet next week over issues on trade from Red Sea crisis")
5 ways to increase cyber resilience against increasingly diverse threats
All signs are that 2024 will be another challenging year, but by shifting practices and pursuing cooperation and best practice sharing, progress can be made
 "5 ways to increase cyber resilience against increasingly diverse threats")
BOJ considers lowering FY2024 inflation outlook to mid-2% range: Report
The central bank's latest inflation outlook for the year starting April stands at 2.8%, in the last report released in October
 "BOJ considers lowering FY2024 inflation outlook to mid-2% range: Report")
Amazon Great Republic Day Sale 2024 to start on 13 Jan, all details inside
Amazon Great Republic Day Sale will start on Jan 13. The yearly sale that starts around the Republic Day will allow exclusive early permit for Prime subscribers of multiple deals and discounts
 "Amazon Great Republic Day Sale 2024 to start on 13 Jan, all details inside")
Net direct tax collection grows 19% to Rs 14.70 trillion so far in FY24
The government has budgeted to collect Rs 18.23 trn from direct taxes (personal income tax and corporate tax), 9.75 per cent higher than Rs 16.61 trn mopped up last fiscal
 "Net direct tax collection grows 19% to Rs 14.70 trillion so far in FY24")
Disinvestment target for FY25 likely to be pegged below Rs 50,000 cr: Icra
Interim Budget 2024: For FY24, the Centre had set a disinvestment target of Rs 51,000 crore but has only been able to meet one-fifth of it so far
 "Disinvestment target for FY25 likely to be pegged below Rs 50,000 cr: Icra")
More than 2.9 mn people benefited in Viksit Bharat Sankalp Yatra: Assam CM
The Chief Minister, during the meeting, also took stock of the progress of distribution of ration cards to the beneficiaries
 "More than 2.9 mn people benefited in Viksit Bharat Sankalp Yatra: Assam CM")
Russia-Ukraine, Israel-Hamas conflict hit tourist inflow to Goa: Minister
With the Goa government promoting some of its unique tourism destinations, the state is expecting a steady growth in the tourist influx, state Tourism Minister Rohan Khaunte said
 "Russia-Ukraine, Israel-Hamas conflict hit tourist inflow to Goa: Minister")
Rajnath Singh, David Cameron praise momentum of India-UK partnership
Cameron reiterated the UK government's desire to collaborate with India in defence areas. The leaders held the meeting at the UK Foreign, Commonwealth and Development Office
 "Rajnath Singh, David Cameron praise momentum of India-UK partnership")
Govt plans to raise capital spending as much as 20% in FY25: Report
The government is trying to raise capital spending on building infrastructure to as much as Rs 12 trillion ($144.59 billion) from the current year's plan of Rs 10 trillion
 "Govt plans to raise capital spending as much as 20% in FY25: Report")