Page 568 - Economy & Policy News
Private sector must cover 90% of climate investment in Ems, says IMF
The IMF said phasing out coal is necessary to reach climate goals, though it is challenging as many EMDEs highly depend on coal
 "Private sector must cover 90% of climate investment in Ems, says IMF")
West Bengal, Centre spar over unpaid MGNREGS and housing scheme funds
Union Rural Development Minister Giriraj Singh hit back, alleging that West Bengal had issued 2.5 million fake MGNREGS job cards due to which crores of rupees of government funds were siphoned off
 "West Bengal, Centre spar over unpaid MGNREGS and housing scheme funds")
High on G20 bonhomie, India readies 4th summit with African Union
Delayed for 5 years, the key meet likely in Nairobi in three months
 "High on G20 bonhomie, India readies 4th summit with African Union")
India to clock GDP growth of 6.5% in FY24: NITI Aayog Ex-VC Rajiv Kumar
On the domestic side, Kumar said inflation is beginning to come down to the target levels and the government tax revenues have shown a good 16 per cent increase over last year
 "India to clock GDP growth of 6.5% in FY24: NITI Aayog Ex-VC Rajiv Kumar")
CIL's coal supply to power sector rises 3.4% to 294.8 MT during Apr-Sept
The total amount of coal supplied was 1.8 MT more than the 293 MT demand projected for this period, Coal India Ltd (CIL) said in a statement
 "CIL's coal supply to power sector rises 3.4% to 294.8 MT during Apr-Sept")
Power consumption grows 10.7% due to increase in use of cooling appliances
In the year-ago period, power consumption stood at 126.91 Billion Units (BU), higher than 112.43 billion units in September 2021, according to government data
 "Power consumption grows 10.7% due to increase in use of cooling appliances")
Amid dull job market, tech graduates enlist in boot camps to boost skills
The demand for boot camps in firms like Upgrad, Coding Ninjas, Scaler, Great Learning, and Newton School has risen by 2-3 times in the last 6-12 months
 "Amid dull job market, tech graduates enlist in boot camps to boost skills")
Between manufacturing and services, can AI show India a third way to grow?
Even if generative artificial intelligence has been overhyped, it's safe to assume that ChatGPT-type bots will only get better at routine tasks like writing computer software
 "Between manufacturing and services, can AI show India a third way to grow?")
The curious case of govt-owned Bank Note Paper Mill's private status
A government-backed JV's legal limbo tests the boundaries of procurement norms
 "The curious case of govt-owned Bank Note Paper Mill's private status")
Gross GST collection rises 10.2% to over Rs 1.62 trillion in September
GST collection in the first half of this financial year reported 11 per cent growth to touch Rs 9.92 trillion compared to the same period a year ago
 "Gross GST collection rises 10.2% to over Rs 1.62 trillion in September")
MPC in no rush to change benchmark rate, stance: Business Standard poll
Some expect upward revision in FY24 inflation forecast
 "MPC in no rush to change benchmark rate, stance: Business Standard poll")
RoDTEP issues must be addressed quickly
The RoDTEP scheme was introduced in September 2021 for exports made with effect from January 1, 2021
 "RoDTEP issues must be addressed quickly")
Indian companies prep for EU's CBAM as transitional phase kicks in
Starting from October 1, the carbon border adjustment mechanism (CBAM) will be applicable to exports of cement, iron and steel, aluminium, fertilisers, and hydrogen to the EU
 "Indian companies prep for EU's CBAM as transitional phase kicks in")
ATF price increases by 5% in 4th straight hike, commercial LPG up by Rs 209
However, the price of domestic LPG - the one used in household kitchens for cooking purposes - remained unchanged at Rs 903 per 14.2-kg cylinder
 "ATF price increases by 5% in 4th straight hike, commercial LPG up by Rs 209")
UPI growth flat in September, but over 10 billion payments processed
According to data from NPCI, this represented a 56 per cent rise in volume and a 41 per cent increase in value compared to September of the previous year. In September 2022
 "UPI growth flat in September, but over 10 billion payments processed")
Gas price for Reliance cut by 18% to $10, in line with international prices
However, the price of gas that is largely used for making CNG for fueling automobiles or piping to households kitchens for cooking purposes will remain unchanged due to a price cap
 "Gas price for Reliance cut by 18% to $10, in line with international prices")
India's share in exports in labour-intensive sectors declining: FIEO
It added that the most "pressing concern" regarding the negative export growth is the "poor" performance of labour-intensive sectors
20% export duty woes: Parboiled rice exports fall over 80% in a month
Duty woes: Basmati rice exports down 30% from Aug 25 to Sep 20
 "20% export duty woes: Parboiled rice exports fall over 80% in a month")
Odisha's GST collections rose by 12.85% to Rs 4,249 cr in September
The state generated 20.66 lakh waybills in September, as compared to 17.66 lakh waybills during the corresponding period of last year
 "Odisha's GST collections rose by 12.85% to Rs 4,249 cr in September")
As new 28% GST on online gaming takes off, gamers brace for impact
Rishi Raj, a Gurgaon-based avid player of online poker, believes that the government has been successful where most of his family failed - getting him to quit the real money game
 "As new 28% GST on online gaming takes off, gamers brace for impact")