Page 579 - Economy & Policy News
Weekend Bites Special Edition: G20, Modi, Biden, Xi, India, and Bharat
In which we munch over the week's platter of news and views
 "Weekend Bites Special Edition: G20, Modi, Biden, Xi, India, and Bharat")
Modi-Biden bilateral meet: 'Our friendship to play big role in global good'
Confident of global consensus on MDB, India and US leaders say after meeting
 "Modi-Biden bilateral meet: 'Our friendship to play big role in global good'")
G20 Summit 2023: Delhi dressed to the nines to display the best of India
On display were various interactive immersive experiences showcasing digital India
 "G20 Summit 2023: Delhi dressed to the nines to display the best of India")
With the shadow of no consensus looming, can a footnote seal G20 deal?
With Chinese president Xi Jinping giving a miss to the G20 leaders' summit in Delhi, there is increasing speculation that China doesn't want to see a joint communique coming from Delhi
 "With the shadow of no consensus looming, can a footnote seal G20 deal?")
G20 Summit 2023: World Bank report bats for DPI for financial inclusion
Other examples of DPIs include Singapore's Singpass, the Philippines' PhilSys, UAE-Pass, and fast payment systems such as India's UPI, Brazil's Pix, Turkiye's FAST among others
 "G20 Summit 2023: World Bank report bats for DPI for financial inclusion")
Govt discusses 2 new criteria for import of information technology hardware
Move to link import value of companies' domestic manufacturing and exports
 "Govt discusses 2 new criteria for import of information technology hardware")
CEA rejects 'statistical discrepancy' criticism on Q1 growth numbers
This indicates that the expenditure side has explained only 97.2 per cent of the income side. It does not mean that the 2.8 per cent that has yet to be explained does not exist, Nageswaran said
 "CEA rejects 'statistical discrepancy' criticism on Q1 growth numbers")
India's tea producers urged to improve quality, move up the value chain
Addressing the annual general meeting of the Indian Tea Association, Bhatia said that India's share in world exports has declined
 "India's tea producers urged to improve quality, move up the value chain")
Rupee appreciates 26 paisa to settle at Rs 82.95 as RBI sells US dollars
The RBI set the cut-off yield on the five-year, 10-year, and 30-year bond at 7.19 per cent, 7.16 per cent, and 7.34 per cent, respectively
 "Rupee appreciates 26 paisa to settle at Rs 82.95 as RBI sells US dollars")
With 23-fold increase, Indian defence exports reach Rs 16,000 crore mark
The Indian indigenous defence industry has achieved the success in expanding exports with sale of major defence systems including the BrahMos supersonic cruise missiles
 "With 23-fold increase, Indian defence exports reach Rs 16,000 crore mark")
India's forex reserves jump by $4.03 billion to $598.89 billion: RBI data
In the previous reporting week, the overall reserves had dropped by USD 30 million to USD 594.858 billion
 "India's forex reserves jump by $4.03 billion to $598.89 billion: RBI data")
China slows fertiliser exports, raising concerns for Indian industries
As the world's largest producer of urea, China accounts for about a third of global supplies of the nitrogen-based fertiliser, which is critical to growing crops
 "China slows fertiliser exports, raising concerns for Indian industries")
Chhattisgarh govt's ambitious scheme on cow dung finds many takers
The Gothans (livestock-sheds) have emerged as a centre of livelihood for the villagers
 "Chhattisgarh govt's ambitious scheme on cow dung finds many takers")
In G20 document, World Bank lauds India's digital public infrastructure
India's JAM Trinity has propelled financial inclusion rate from 25 per cent in 2008 to over 80 per cent of adults in last six years, a journey shortened by up to 47 years owing to DPIs: WB
 "In G20 document, World Bank lauds India's digital public infrastructure")
'India needs to grow at 8-9% for 20 yrs to become developed nation by 2047'
Referring to the space sector, Shetty said India already has 200 startups and can attract investments of USD 100 billion by 2040
 "'India needs to grow at 8-9% for 20 yrs to become developed nation by 2047'")
Under new labour laws, unused leaves beyond 30 will be paid for by employer
The new regulation will do away with the system where unused leaves used to lapse beyond a certain time limit
 "Under new labour laws, unused leaves beyond 30 will be paid for by employer")
Delhi's business landscape braves impact as G20 summit takes centre stage
Shuttered for security reasons, markets to miss weekend crowds
 "Delhi's business landscape braves impact as G20 summit takes centre stage")
US, Saudi Arabia, India discuss possible rail, port connectivity deal
The plans for a sweeping, multi-national ports and rail deal would come at a critical time. To counter China's Belt and Road global infrastructure push, Biden is pitching Washington
 "US, Saudi Arabia, India discuss possible rail, port connectivity deal")
Crypto can't be legal tender; blanket ban not easy: IMF-FSB paper
Central banks should avoid holding crypto assets in their official reserve as they pose a risk to monetary and global financial stability, according to the synthesis paper
 "Crypto can't be legal tender; blanket ban not easy: IMF-FSB paper")
India fulfilled 87% of 15 key Bali commitments: G20 Research group
The European Union ranked first on the Bali commitments with a 97 per cent score, followed by Australia and Germany, and Canada, Korea and the United Kingdom
 "India fulfilled 87% of 15 key Bali commitments: G20 Research group")