Page 490 - Economy & Policy News
Master Direction part of Initiative for forex market risk management: Das
India's foreign reserves rise by $6 billion
 "Master Direction part of Initiative for forex market risk management: Das")
It's unprecedented time to invest in India, says PM Narendra Modi
Modi called upon the businessmen to focus on capacity building in India
 "It's unprecedented time to invest in India, says PM Narendra Modi")
RBI to come up with unified regulatory framework on connected lending
The central bank believes that the decision to set up a regulatory body will strengthen the pricing and risk management of credit by these entities
 "RBI to come up with unified regulatory framework on connected lending")
No plans to loosen rates, no complacency on inflation fight: RBI governor
Das said, "The primary objective of the monetary policy, as prescribed in the law, is ensuring price stability that's by maintaining inflation at 4% target for a durable time"
Centre imposes ban on onion exports until March 2024 to curb price surge
India had previously imposed a minimum export price of $800 per metric ton, until Dec. 31, 2023, to discourage exports, in an effort to curb surging local prices
 "Centre imposes ban on onion exports until March 2024 to curb price surge")
India has a 2-3 yrs window to attract cos moving out of China: Subrahmanyam
Subrahmanyam pointed out that it is not just non-Chinese companies but even Chinese companies which want to move out of China because of labour shortages
 "India has a 2-3 yrs window to attract cos moving out of China: Subrahmanyam")
Optimism should not cause premature triumphalism: CEA Nageswaran
India's growth engine can become faster and accelerate if the much-awaited private sector capital formation kicks into a higher gear, he said
Optimism should not cause premature triumphalism: CEA Nageswaran
India's growth engine can become faster and accelerate if the much-awaited private sector capital formation kicks into a higher gear, he said
 "Optimism should not cause premature triumphalism: CEA Nageswaran")
Cross-border remittances using e-rupee to halve cost of such payments: Seth
"So, for cross-border payments, CBDC can be very effective to bring down cost further to the range of 2-3%," the Secretary said at the Ficci Annual Convention here
 "Cross-border remittances using e-rupee to halve cost of such payments: Seth")
RBI's prolonged pause on repo rate favourable for corporate sector: Experts
The RBI expectedly left its key lending rates unchanged for the fifth consecutive time and predicted faster growth in the world's fastest-growing major economy
 "RBI's prolonged pause on repo rate favourable for corporate sector: Experts")
Upward revision in RBI's GDP growth forecast very well placed: Ajay Seth
RBI in its bi-monthly policy review revised upwards growth projection for current fiscal to 7%, from 6.5% earlier
 "Upward revision in RBI's GDP growth forecast very well placed: Ajay Seth")
'Working to prevent disruption of ethanol supplies for gasoline blending'
India's goal of raising ethanol blending in petrol to 20% from 2025/26 remains intact, Oil Secretary Pankaj Jain said
 "'Working to prevent disruption of ethanol supplies for gasoline blending'")
Govt tightens stock limits on wheat to curb hoarding, check price rise
Briefing media, Food Secretary Sanjeev Chopra said the stock limit has been reduced to 1,000 tonnes from the existing 2,000 tonnes for traders/wholesalers
 "Govt tightens stock limits on wheat to curb hoarding, check price rise")
India will address EU's carbon tax issue; will retaliate if required: Goyal
According to a report of the think tank Global Trade Research Initiative (GTRI), CBAM will translate into a 20-35 per cent tax on select imports into the EU, starting January 1, 2026
 "India will address EU's carbon tax issue; will retaliate if required: Goyal")
RBI MPC keeps repo rate unchanged at 6.5% for 5th straight policy review
The central bank raised the GDP growth forecast for FY24 to 7% from 6.5%
No 'spectacular announcements' in interim Budget, says FM Sitharaman
"Budget that will be announced will just be a vote on account because we will be in election mode, and elections will happen during the coming summer", the FM said
 "No 'spectacular announcements' in interim Budget, says FM Sitharaman")
India's fuel demand slips in Nov from 4-month peak, hit by reduced travel
It was down about 2 per cent compared with the same period a year earlier
 "India's fuel demand slips in Nov from 4-month peak, hit by reduced travel")
Proposal in works to buy 100K tonnes of maize at minimum support price
Broad contours of the purchase plan have been discussed
 "Proposal in works to buy 100K tonnes of maize at minimum support price")
Indian economy to grow at 6.5% in FY24: Chief Economic Advisor Nageswaran
India's economy grew 7.6 per cent in the September quarter of this fiscal and remained the fastest-growing large economy, mainly due to better performance by manufacturing, mining and services sectors
 "Indian economy to grow at 6.5% in FY24: Chief Economic Advisor Nageswaran")
Finance Ministry holds a review meeting on large value fraud cases
During the review meeting, it was emphasised that all measures should be taken to further improve coordination between the CBI and banks for expeditious investigation
 "Finance Ministry holds a review meeting on large value fraud cases")