Page 549 - Economy & Policy News

Cabinet hikes LPG subsidy to Rs 300, cylinder to cost Rs 603 in Delhi

The latest decision comes on the back of a series of steps taken by the Centre over the past one month to reduce the cost of LPG cylinder ahead of crucial state and general elections

Tamil Nadu govt to explore large scale green energy storage options

Tamil Nadu is exploring a hybrid storage model, in which pumped storage power plants (PSP) will be used to store excess energy from solar, wind, and other sources

India, UAE to discuss investment related challenges as FDI decline in India

The first half of the 2023 calendar year witnessed a 37 per cent drop in FDI equity inflows, totalling $20.21 billion, compared to the same period the previous year

PLI good for telecom, need to adjust for others: NITI Member Virmani

Virmani said that industry needs to reach the minimum efficient scale (MES), otherwise they cannot compete by themselves and will need subsidies to compete

India's experience of manufacturing GDP growth different: NITI member

According to Virmani, the country has put in dynamism for entrepreneurship and startups, and has instituted public sector and institutional reforms

Only 9 out of 100 surveyed company websites seek clear consent: PwC report

Only 2 out of the 100 analysed websites provided consent in multiple regional languages

NIIF launches $600 mn India-Japan bilateral fund in collaboration with JBIC

Fund aims investments renewables, e-mobility, and circular economy

Unsecured loan growth high, RBI unlikely to put restrictions: India Ratings

The domestic credit rating agency, a part of the Fitch Group, feels there are no issues on asset quality as a result of the fast-paced growth in the portfolios as yet

Govt forms National Turmeric Board, aims to boost sector's global dominance

India holds the title for being the world's largest producer, consumer, and exporter of turmeric

Domestic demand for non-ferrous metals to grow 9% over two fiscals: ICRA

The ratings agency also informed that the non-ferrous metal industry's profit margins to remain under pressure amid weak global environment

RBI's rate setting body starts deliberations amid expectation of status quo

The Reserve Bank started increasing the policy rate in May 2022 in tranches, in the wake of the Russia-Ukraine war and took it to 6.5 per cent in February this year

NPCI International to sign pact with Al Etihad Payments of UAE on Oct 5

Goyal will co-chair the eleventh meeting of India-UAE High-Level Task Force on Investments along with Sheikh Hamed Bin Zayed Al Nahyan, Managing Director of Abu Dhabi Investment Authority

Retail inflation may ease by Dec owing to seasonal factors: Finance secy

Retail inflation remained above the upper end of RBI's 2%-6% tolerance band for a second consecutive month in August, though it eased from a 15-month high of 7.44% in July

India caught between Davids & Goliaths in global clean energy face-off

The US and Europe are offering 8 to 10 times more subsidies amounting to a massive $650 billion, around 18 per cent of India's gross domestic product

Stubble burning cases top total of the last two years, shows data

The retreat of the southwest monsoon from northern India and an early harvest have contributed to the rise in instances of stubble burning in the six states

World Bank raises India's retail inflation forecast to 5.9% for FY24

Maintains GDP growth forecast at 6.3%

Unabated FPI selling pulls indices to 1-month low; now eyes on Q2 results

Yield on 10-yr US bond highest since 2007

OECD urges India to pare govt ownership in banks, insurance companies

OECD advised the government to further increase the share of renewable energy by facilitating long-term investment in clean energy development projects

Manufacturing PMI at five-month low in Sept but remains strong: Survey

Job creation in industry continues as firms continue getting new business, says S&P Global

Higher coal movement takes rail freight growth to 6.7% in September

Much of this growth was led by coal freight, which rose by 9.4 per cent to 59.7 mt in September, owing to higher coal demand at thermal power plants across the country