Page 572 - Economy & Policy News
Local sugar supplies may pip demand in 2023-24, industry estimates
This comes even as there could be a deficit globally
 "Local sugar supplies may pip demand in 2023-24, industry estimates")
India counting on potash supplies despite diplomatic row with Canada
Ties between India and Canada deteriorated sharply after New Delhi and Ottawa expelled one of the other's diplomats in a dispute over the murder of a Sikh separatist leader
 "India counting on potash supplies despite diplomatic row with Canada")
India's green hydrogen ambitions ride the coat-tails of Chinese equipment
India's ambitions for green hydrogen are riding the coat-tails of Chinese equipment, with Beijing's global stranglehold on the green hydrogen business now extending to New Delhi
 "India's green hydrogen ambitions ride the coat-tails of Chinese equipment")
ADB lowers FY24 GDP forecast to 6.3%, India Ratings raises it to 6.2%
ADB has, however, retained FY25 growth forecast at 6.7 per cent, citing rising private investment and industrial output are expected to drive growth
 "ADB lowers FY24 GDP forecast to 6.3%, India Ratings raises it to 6.2%")
Major Port Cargo grows 4% in August, lags further behind private peers
Non-major port traffic grew 16% as pvt ports winning coastal game
 "Major Port Cargo grows 4% in August, lags further behind private peers")
RBI infuses liquidity as banking system faces highest deficit since 2020
Market analysts predict that the disbursement of Rs 25,000 crore as the second tranche of Incremental Cash Reserve Ratio (I-CRR) will be insufficient to ease liquidity strains
 "RBI infuses liquidity as banking system faces highest deficit since 2020")
Sai Silks' IPO with fresh issue of Rs 600 cr subscribed 7% on first day
The IPO received bids for 26,16,752 shares against 3,84,86,309 shares on offer, as per data available with the NSE
 "Sai Silks' IPO with fresh issue of Rs 600 cr subscribed 7% on first day")
Fresh formal job creation slows to 1.02 mn in July, shows EPFO data
the share of women gaining employment declined to 26.8 per cent (274,967) in July as compared to 27.6 per cent (286,984) in the previous month
 "Fresh formal job creation slows to 1.02 mn in July, shows EPFO data")
EPFO asks zonal offices to prepare budget estimates for its pension schemes
The prepared estimates are set to be submitted for approval to the Central Board of Trustees (CBT)
 "EPFO asks zonal offices to prepare budget estimates for its pension schemes")
Explore new financing models for skill development: Ficci-KPMG report
The study pointed to emerging trends in skill financing such as private equity and venture capital investment, working capital financing for training partners
 "Explore new financing models for skill development: Ficci-KPMG report")
Apparel retailers likely to register 7-8% revenue growth FY24: CRISIL
Continued store expansion, including into tier-II and III cities, will also help revenue growth this fiscal and over the medium term, Crisil Ratings said in a report on Wednesday
 "Apparel retailers likely to register 7-8% revenue growth FY24: CRISIL")
NMET allots Rs 2,100 cr for 309 mineral exploration projects, 151 completed
Union Minister for Coal and Mines Pralhad Joshi highlighted that efforts are also made to speed up the auction process of critical minerals in India
 "NMET allots Rs 2,100 cr for 309 mineral exploration projects, 151 completed")
Govt plans over $2 billion in incentives for new manufacturing sectors
A fraction of the PLI incentives has been claimed so far, prompting the government to allocate unused funds to new sectors
 "Govt plans over $2 billion in incentives for new manufacturing sectors")
Labour market shows progress in key areas but challenges remain: Report
Labour markets has shown better intergenerational mobility, increased regular wage workers and narrowed caste based segregation, according to State of Working India report 2023
 "Labour market shows progress in key areas but challenges remain: Report")
Rajasthan govt charts plan for export promotion of agricultural commodities
The state is one of the top producers of mustard, moth beans, bajra, guar, and Isabgol
 "Rajasthan govt charts plan for export promotion of agricultural commodities")
India Ratings revises GDP growth estimate for FY24 to 6.2% from 5.9%
India Ratings and Research on Wednesday upwardly revised its FY24 real GDP growth estimate to 6.2 per cent from the 5.9 per cent expected earlier
 "India Ratings revises GDP growth estimate for FY24 to 6.2% from 5.9%")
Not acquiring Vodafone Idea: Verizon executive denies media reports
Denying that it was in discussions with Vodafone Idea with Verizon, Amazon, or Starlink, Vodafone Idea said that India is an important part of the company's growth plans
 "Not acquiring Vodafone Idea: Verizon executive denies media reports")
1.98 mn new workers enrolled under health insurance scheme ESI in July
Employees' State Insurance Corporation added 19.88 lakh new workers under its health insurance scheme ESI in July 2023.
 "1.98 mn new workers enrolled under health insurance scheme ESI in July")
Employment jumped post-Covid but 2 in 5 young graduates still have no jobs
The workforce participation rate of females has improved in the last five years, especially in rural areas. But this is not due to the rise in the number of jobs but self-employment
 "Employment jumped post-Covid but 2 in 5 young graduates still have no jobs")
Economy doing well even in unsupportive global environment: RBI MPC member
"But over-reaction to the global financial crisis after 2008 and many corruption scandals weakened the economy," she said
 "Economy doing well even in unsupportive global environment: RBI MPC member")