Page 555 - Economy & Policy News
India's foreign exchange reserves fall to 4-month low of $590.70 billion
Over the last few trading sessions, the RBI has been likely selling dollars via public sector banks to prevent the rupee from falling to a record low against the dollar, traders said
 "India's foreign exchange reserves fall to 4-month low of $590.70 billion")
National Highway projects worth Rs 3,659 cr inaugurated in Maha's Washim
In the last nine years, 227 km of highway network connecting Vidarbha and Marathwada has been constructed in Maharashtra's Washim
 "National Highway projects worth Rs 3,659 cr inaugurated in Maha's Washim")
India's fiscal deficit rises to Rs 6.42 trillion, 36% of FY24 target
In the same period in FY23, the deficit was 32.6 per cent of the full-year target
 "India's fiscal deficit rises to Rs 6.42 trillion, 36% of FY24 target")
Adani partnership remains steadfast: IHC on Adani units' stake sale
IHC said that it continually strives to enhance shareholder value and additional information about the transaction will be included in its quarterly financial disclosure
 "Adani partnership remains steadfast: IHC on Adani units' stake sale")
Sugar market eyes restrictions from India after lower monsoon rains
The global sugar market has been jittery for weeks on concerns that poor rains will crimp output and prompt India to restrict shipments to contain local prices ahead of an election next year
 "Sugar market eyes restrictions from India after lower monsoon rains")
Net claims of non-residents on India rise to $379.7 bn in Q1: RBI
"Inward portfolio investment (USD 15 billion) and foreign direct investment (USD 8.9 billion) together accounted for two-thirds of the rise in foreign liabilities of Indian residents," it added
 "Net claims of non-residents on India rise to $379.7 bn in Q1: RBI")
India's external debt at $629.1 bn at Jun-end, debt-GDP ratio declines: RBI
Valuation effect due to the appreciation of the US dollar vis--vis the major currencies such as yen and SDR amounted to $3.1 billion
 "India's external debt at $629.1 bn at Jun-end, debt-GDP ratio declines: RBI")
India-US bond yield spread falls to lowest level in more than 17 years
This makes Indian bonds less attractive to foreign investors
 "India-US bond yield spread falls to lowest level in more than 17 years")
Credit to retail sector dips to 18.3% in August 2023, shows RBI data
Picks up speed in lending to agri, services
 "Credit to retail sector dips to 18.3% in August 2023, shows RBI data")
MoUs for investments worth Rs 3,000 crore in Uttarakhand signed in UK
An MoU for investment worth Rs 2,000 crore was signed with Aager Technology and another for investment worth Rs 1,000 crore with Fira Barcelona, an official release here said
 "MoUs for investments worth Rs 3,000 crore in Uttarakhand signed in UK")
Adman Piyush Pandey to step down, transition into advisory role at Ogilvy
The 41-year-long association between Pandey and Ogilvy began in 1982 when he started his career as a client servicing executive
 "Adman Piyush Pandey to step down, transition into advisory role at Ogilvy")
Showcause to egaming companies in line with legal provisions: CBIC
Parliament last month passed amendments to the Central GST and Integrated GST laws to give effect to the Council's decision
 "Showcause to egaming companies in line with legal provisions: CBIC")
MNRE issues tender for construction of India's first offshore wind projects
Offers seven locations off TN coast; cumulative capacity at 7 GW
 "MNRE issues tender for construction of India's first offshore wind projects")
Exporters seek more sops for value-added products under Rodtep scheme
Say current structure provides higher refund rates on lesser value-added goods
 "Exporters seek more sops for value-added products under Rodtep scheme")
Govt approves 18 R&D projects of technical textiles worth Rs 46.74 crore
The cleared projects include those under key strategic areas of Geotech, Protech, Indutech, Sustainable Textiles, Sportech, Smart E-Textiles and Meditech segments
 "Govt approves 18 R&D projects of technical textiles worth Rs 46.74 crore")
Rice export ban a regulation, safeguards food security: India to WTO
This was stated by India in response to concerns raised by a group of countries including the US during a meeting of the WTO's Committee on Agriculture in Geneva on September 27
 "Rice export ban a regulation, safeguards food security: India to WTO")
Centre extends RoDTEP scheme till June 30 amid faltering exports
The RoDTEP scheme, which refunds the embedded non-creditable central, state, and local levies paid on inputs to exporters, was due to expire on September 30
India retains its 40th position in the Global Innovation Index 2023
The index by the World Intellectual Property Organisation (WIPO) was released on Thursday and ranked 132 economies on the Innovation index
 "India retains its 40th position in the Global Innovation Index 2023")
Higher compliance has boosted monthly GST collections: CBIC chief
Agarwal said the government is taking all possible measures to encourage tax compliance and dissuade fraudsters from entering the GST system
 "Higher compliance has boosted monthly GST collections: CBIC chief")
Higher 20% TCS on overseas remittances, foreign tour kicks in from Oct 1
Currently, LRS transfers up to Rs 7 lakh in a fiscal do not attract any TCS. The same provision will continue from October 1
 "Higher 20% TCS on overseas remittances, foreign tour kicks in from Oct 1")