Page 538 - Economy & Policy News

Higher-for-longer rates will keep constricting global economy: World Bank

Both Ajay Banga, the institution's president, and Chief Economist Indermit Gill warned that the fallout from the sudden shift to an era of elevated borrowing costs may be tough

Haryana govt clears policy to eliminate crop residue, curb stubble burning

Recently, Chief Secretary Sanjeev Kaushal issued a series of stringent directives to prevent stubble burning incidents

EU's CBAM: Taxing trade for transition amid global climate concerns

Carbon Border Adjustment Mechanism strains global trade, questions Paris Agreement's ethos, writes Advocate Jatinder Cheema

Govt mulls extension of parboiled rice restrictions ahead of key polls

The govt is considering an extension to a 20% export levy, which is due to expire on Oct. 15, according to people familiar with the matter who asked not to be identified as the talks are confidential

Countries working to resolve differences over Global tax deal: OECD draft

FinMin says intensive capacity-building initiatives are imperative for effective implementation

Govt tweaks PLI white goods scheme norms for simplifying operation

The changes have been made on the basis of various suggestions received from the beneficiaries as well as industry association.

Israel crisis unlikely to have impact on pharma trade: Industry Experts

Pharmaceutical exports from India to Israel in FY 2020-21 amounted to $32.5 million, which represents only a minor segment of India's overall pharma exports

Russian oil price to India for August hits highest since December

Refiners in India largely buy Russian oil on a delivered basis, with sellers arranging for shipping and insurance

India keen to engage with IMF to purse G20 agenda on resource mobilisation

G20 New Delhi Leaders' Declaration urged IMF and the World Bank, in coordination with other relevant international institutions, to support efforts at enhancing domestic resource mobilisation

US wholesale inflation rises 2.2% in Sept, fastest pace since April

Labour Dept reported that producer price index which measures inflation before it hits consumers climbed 2.2 per cent from a year earlier. That was up from a 2 per cent uptick in August

High oil prices pose challenge to economic revival in many countries: Puri

E20 fuel is now being sold in more than 5000 pumps nationwide, the Petroleum Minister said

Road logistics industry anticipates favourable demand in FY2024: ICRA

Rating agency ICRA on Wednesday said that it anticipates a favourable demand scenario for the road logistics sector in FY2024, aided by stable domestic consumption and investment demand

Govt requests mills to stop raw jute imports on domestic oversupply

The jute commissioner's office, representing the Union textile ministry, in a notice on Tuesday also recommended mills not to import jute of TD 4 to TD 8 variants

FM Sitharaman stresses on need for IMF to remain well capitalised

The roundtable was hosted by US Treasury Secretary Janet Yellen on the sidelines of the World Bank-IMF Annual Meetings in Marrakech, Morocco

Important to maintain Indian Ocean as open, inclusive space: EAM Jaishankar

There have been global concerns over debt traps and regional hegemony by China using its Belt and Road (BRI) infrastructure projects

Cabinet approves royalty rates for mining of Lithium, 2 other minerals

"Critical minerals have become essential for economic development and national security in the country," the government said

Sept diesel flows to Europe reach all time peak, Oct volumes slowing

Russia banned diesel exports on Sept. 21 to stabilise domestic market fundamentals, though this was partially lifted from Oct. 6

India has high debt like China, but risks are moderated: IMF official

The current debt in India is also high. It stands at 81.9% of GDP. Compared to China, which is 83%, it is very similar, said Ruud de Mooij, Deputy Director, Fiscal Affairs Department at IMF

India expected to become $30-trillion economy by 2050: Chakraborty

International financial institutions have projected India's growth to be around 6.3% this year and inflation at about 6%, so nominal GDP would be around 10-12%, he said

Marketing strategy to help tap $112 bn export in 10 nations in 3 yrs: Study

Federation of Indian Export Organisations (FIEO) said that to tap this potential, a proper strategy is required