Page 521 - Economy & Policy News
PM Modi reviews progress of 8 projects worth around Rs 31,000 crore
PRAGATI is the multi-modal platform for Pro-Active Governance and Timely Implementation of the projects involving the Centre and states. It was the 43rd edition of the meeting
 "PM Modi reviews progress of 8 projects worth around Rs 31,000 crore")
India's tourism challenge: Foreign arrivals remain below 2019 levels
CMIE data shows that in February 2020, just before the pandemic struck, 1.02 million foreign tourists had arrived in India. In August 2023, the number stood at 640,000
 "India's tourism challenge: Foreign arrivals remain below 2019 levels")
Tamil Nadu CM orders 4% DA increase for govt employees, teachers
The Chief Minister has ordered increasing the DA from the present 42 to 46 per cent from July 1 this year
 "Tamil Nadu CM orders 4% DA increase for govt employees, teachers")
Restaurant owners urge Maha govt to rollback 5% hike in VAT on liquor
"Tourism is a vital contributor to the country's economy, accounting for approximately 9 per cent of the GDP and employing over 12 per cent of the workforce
 "Restaurant owners urge Maha govt to rollback 5% hike in VAT on liquor")
India-Japan pact on semiconductor supply chain gets Cabinet green light
Japanese government-backed semiconductor venture Rapidus is likely to be a major element of the new partnership
 "India-Japan pact on semiconductor supply chain gets Cabinet green light")
Safe-haven gold gains buoyed by Middle East conflict; US data in focus
US business activity ticked higher in October while output in the euro zone took a surprise turn for the worse, surveys showed on Tuesday
 "Safe-haven gold gains buoyed by Middle East conflict; US data in focus")
US dollar edges higher as risk sentiment sours, treasury yields rise
Analysts, however, see limited room for yields and the dollar to extend gains
 "US dollar edges higher as risk sentiment sours, treasury yields rise")
India, Saudi Arabia commerce ministers discuss ways to promote trade ties
"Discussed how the robust India-Saudi trade ties can be further scaled to make global supply chains more resilient," Goyal said on social platform X
 "India, Saudi Arabia commerce ministers discuss ways to promote trade ties")
Carbon removal isn't just for corporations, individuals pay for it too
There are a number of ways to permanently remove carbon from the atmosphere, ranging from directly capturing CO2 from the air to spreading crushed volcanic rocks
 "Carbon removal isn't just for corporations, individuals pay for it too")
ADB approves $ 400 mn loan to support govt's urban reform agenda
India has recognised the potential for cities to be centres of economic growth: ADB Principal Urban Development Specialist Sanjay Joshi
 "ADB approves $ 400 mn loan to support govt's urban reform agenda")
Cabinet approves MoC between India, Japan for semiconductor development
The MoC envisages improved collaboration leading to employment opportunities in the field of Information technology (IT)
 "Cabinet approves MoC between India, Japan for semiconductor development")
India emerges as AIIB's top market for funding infrastructure projects
Formed in December 2015, the AIIB has to date funded sovereign Indian infrastructure projects to the tune of $ 10 billion
 "India emerges as AIIB's top market for funding infrastructure projects")
Amid diplomatic spat, contractors cut lentil imports from Canada
In 2022-23, Canada was the biggest exporter of lentils to India, accounting for more than half of the total imports of the legume into the country
 "Amid diplomatic spat, contractors cut lentil imports from Canada")
Dispute settlement reform, agri, e-commerce discussed at 2-day WTO meet
According to the chairperson's summary of the meeting, senior officials strongly supported the ongoing informal process on dispute settlement reform being carried out in Geneva by technical experts
 "Dispute settlement reform, agri, e-commerce discussed at 2-day WTO meet")
India set to be world's third-largest economy by 2030, says S&P Global
By 2030, India's GDP is forecast to surpass Germany's too
 "India set to be world's third-largest economy by 2030, says S&P Global")
GST enforcement action likely to fetch over Rs 50,000 crore in FY24
Could be highest recovery ever in a year
 "GST enforcement action likely to fetch over Rs 50,000 crore in FY24")
Centre likely to bring down floor price for basmati rice exports to $950 MT
India imposed a $1,200 per tonne MEP on basmati rice shipments in August to keep a lid on local prices ahead of key state elections
 "Centre likely to bring down floor price for basmati rice exports to $950 MT")
Higher pension issue likely on EPFO central board of trustees meet agenda
While the full agenda is not clear, sources familiar with the matter say that the issue of higher pension which has protracted for a long time now might come up in the meeting
 "Higher pension issue likely on EPFO central board of trustees meet agenda")
Floating-rate savings bonds on RBI online portal may not be instant hit
These bonds usually perform well in a rising rate environment, say mkt players
 "Floating-rate savings bonds on RBI online portal may not be instant hit")
75% beneficiaries of PM SVANidhi from non-general category: SBI research
The Scheduled Castes and Scheduled Tribes account for 22 per cent of the total disbursement of the PM Street Vendor's AtmaNirbhar Nidhi (PM SVANidhi) scheme
 "75% beneficiaries of PM SVANidhi from non-general category: SBI research")