Page 573 - Economy & Policy News
Insolvency & Bankruptcy Code cannot be used as tool for recovery: NCLT
The Principal Bench of the National Company Law Tribunal (NCLT) was hearing the plea for initiating insolvency against Orris Infrastructure over an alleged default of Rs 3.60 lakh
 "Insolvency & Bankruptcy Code cannot be used as tool for recovery: NCLT")
Wheat farmers lost Rs 40,000 crore due to govt policy: Icrier report
The report says that judicious use of trade policy is needed to tame inflation at home without hurting farmer earnings
 "Wheat farmers lost Rs 40,000 crore due to govt policy: Icrier report")
Child travel norms: Railways earned over Rs 2,800 cr more in 7 years
CRIS, an organization under the Ministry of Railways, provides IT solutions in core areas such as ticketing and passengers, freight services, train traffic control and operations, among others
 "Child travel norms: Railways earned over Rs 2,800 cr more in 7 years")
Global debt hit record $307 trn in Q2 despite rising interest rate
The financial services trade group said in a report that global debt in dollar terms had risen by $10 trillion in the first half of 2023 and by $100 trillion over the past decade
 "Global debt hit record $307 trn in Q2 despite rising interest rate")
India trade talks 'continue as before' amid Canada allegations: Britain
The Ministry of External Affairs in New Delhi on Tuesday strongly rejected the allegations as "absurd and motivated" and dismissed a senior Canadian diplomat in a reciprocal move
 "India trade talks 'continue as before' amid Canada allegations: Britain")
ISC raises concern on WHO report suggesting nutrition-based tax on food
It also advocated for the implementation of point-of-sale marketing restrictions, curbing of freebies and discounts offered by small grocers or Kirana stores
 "ISC raises concern on WHO report suggesting nutrition-based tax on food")
Switzerland's gold exports up in August due to higher shipments to India
Switzerland is the world's biggest bullion refining and transit hub, while China and India are the largest consumer markets with local demand sensitive to high prices and time of the season
 "Switzerland's gold exports up in August due to higher shipments to India")
Govt may soon tweak PLI schemes for pharma, textiles to boost investment
These sectors have been identified after inter-ministerial consultations on the performance of the scheme for various products
 "Govt may soon tweak PLI schemes for pharma, textiles to boost investment")
Trade talks between India, Canada have taken hit amid rise in tensions
On Tuesday, New Delhi dismissed the allegations as "absurd", and asked Canada instead to crack down on anti-India elements operating in its territory
Can IT look beyond BFSI? US banking crisis threatened to create a domino
But things are getting better and demand outlook remains strong
 "Can IT look beyond BFSI? US banking crisis threatened to create a domino")
NHAI arm to develop logistics park in Bengaluru at Rs 1,770 crore
The agreement has been signed between Bengaluru MMLP Pvt Ltd -- a government Special Purpose Vehicle (SPV) -- and concessionaire SPV M/s PATH Bengaluru Logistics Park Pvt Ltd
 "NHAI arm to develop logistics park in Bengaluru at Rs 1,770 crore")
Economy gaining strength, inflation to slide further in Sept: RBI report
India's retail inflation, which softened in August from the previous month's peak, is expected to trend down further in September, it said
 "Economy gaining strength, inflation to slide further in Sept: RBI report")
Outward remittances dropped about 40% in July to $2.36 bn: RBI data
During the reported month, deposits remitted declined to $50.12 million from $227.23 million in June
 "Outward remittances dropped about 40% in July to $2.36 bn: RBI data")
India's net direct tax collection up 23% at Rs 8.65 trillion till Sept 16
Improved profitability, compliance lead to jump in direct tax collection
 "India's net direct tax collection up 23% at Rs 8.65 trillion till Sept 16")
Difference between AIR of DBK & actual duty incidence can be rebated
You have to make appropriate declarations in the shipping bill and then file the brand rate fixation application to your jurisdictional authorities
 "Difference between AIR of DBK & actual duty incidence can be rebated")
Subsidy of Rs 150 cr distributed under PM's Employment Generation Programme
In the presence of KVIC Chairman Manoj Kumar, these fundamental agreements were signed with Prasar Bharati, NBCC (India) Limited, and Digital India Corporation, said an official statement
Russia and Switzerland outliers amid contracting imports, shows data
Imports from Russia second-largest in April-August period, shows data
 "Russia and Switzerland outliers amid contracting imports, shows data")
Rupee hits all-time closing low of 83.27 to dollar amid rise in oil prices
The rupee had hit an all-time low of Rs 83.29 per dollar on October 20, 2022
 "Rupee hits all-time closing low of 83.27 to dollar amid rise in oil prices")
Reserve Bank of India net-purchased $3.5 bn foreign currency in July
The rupee depreciated by 0.3 per cent in July. In June, the RBI had recorded a net purchase of $4.5 billion in the spot market
 "Reserve Bank of India net-purchased $3.5 bn foreign currency in July")
Inflows into gold ETF hit 16-month high at Rs 1,028 crore in August
Apart from inflow, the asset base of Gold ETFs and investors' account or folio numbers increased in the period under review
 "Inflows into gold ETF hit 16-month high at Rs 1,028 crore in August")