Page 588 - Economy & Policy News
Trade unions call for PDS universalisation, scrapping monetisation pipeline
To intensify their agitation from December onwards
 "Trade unions call for PDS universalisation, scrapping monetisation pipeline")
India, US looking at ending poultry dispute at WTO, says official
In July, India and the US mutually resolved six trade disputes pending at the WTO, in line with the commitment made by the two countries during the US visit of Prime Minister Narendra Modi in June
 "India, US looking at ending poultry dispute at WTO, says official")
Oil down on weak economic data, US Fed chief's speech in spotlight
Brent crude fell 19 cents, or 0.2%, to $83.02 a barrel by 0619 GMT, while U.S. West Texas Intermediate crude dropped 24 cents, or 0.3%, to $78.65 a barrel
 "Oil down on weak economic data, US Fed chief's speech in spotlight")
Rupee appreciates 25 paise to 82.47 against US dollar amid foreign inflows
Rupee's sharp gain of 52 paise in the past two sessions was attributed to the Reserve Bank of India's move to prevent banks from indulging in short-term trading in offshore currency markets
 "Rupee appreciates 25 paise to 82.47 against US dollar amid foreign inflows")
Diesel exports to Singapore set for highs in Aug, drop for Europe: Trade
India is on track to ship between 330,000 and 439,000 tons of diesel in August to Singapore, shiptracking data from Refinitiv, Vortexa and Kpler showed
 "Diesel exports to Singapore set for highs in Aug, drop for Europe: Trade")
Relative to GDP, India's space spends higher than half of G20 peers
Chandrayaan-3's successful soft landing on the lunar south pole on Wednesday has ensured India's place in the elite group of nations to have achieved this feat
 "Relative to GDP, India's space spends higher than half of G20 peers")
Green energy: UP plans hydropower projects totalling Rs 15,000 crore
UP has set a target to generate 22,000 mw of renewable energy over the next five years spanning solar and other sources
 "Green energy: UP plans hydropower projects totalling Rs 15,000 crore")
Housing demand has power to unlock economy's potential: HDFC Bank Director
"The structural demand for housing in the country will always be strong," Mistry said, adding that "housing loans are safe and have better credit risk profile"
 "Housing demand has power to unlock economy's potential: HDFC Bank Director")
FTA talks 'laser-focussed': UK officials as trade minister heads to India
Official estimates peg bilateral trade between the two countries at around GBP 36 billion in 2022, a figure expected to significantly benefit from an FTA
 "FTA talks 'laser-focussed': UK officials as trade minister heads to India")
Tax dept plans to reduce average time taken for issuing refunds to 10 days
Currently, refunds get disbursed in 16 days
 "Tax dept plans to reduce average time taken for issuing refunds to 10 days")
T-bill auction witnesses firm demand from Mutual Funds, private banks
Reserve Bank of India set the cut-off yield on the 91-day, and 364-day T-bills at 6.86 per cent, and 7.05 per cent respectively
 "T-bill auction witnesses firm demand from Mutual Funds, private banks")
Vegetable prices might ease from September led by tomato: RBI Governor Das
"Will guard against second round effect of price rise"
 "Vegetable prices might ease from September led by tomato: RBI Governor Das")
CCI brings draft regulations for Settlement and Commitment scheme
The antitrust watchdog has invited stakeholders to submit written comments on these draft regulations within 21 days ending September 13, 2023
 "CCI brings draft regulations for Settlement and Commitment scheme")
Vegetable price inflation to decline from Sept, says RBI Governor Das
He said despite core inflation in the country remaining elevated, the steady easing seen in the last few months indicates that monetary policy transmission is happening
 "Vegetable price inflation to decline from Sept, says RBI Governor Das")
Govt set to ban sugar exports from October for first time in 7 years
India allowed mills to export only 6.1 million tonnes of sugar during the current season to Sept. 30, after letting them sell a record 11.1 million tonnes last season
 "Govt set to ban sugar exports from October for first time in 7 years")
India's retail inflation surges on food prices in challenge to Modi govt
Food inflation, which accounts for nearly half of the overall consumer price basket, hit a staggering 11.51% in July as compared with a revised 4.55% in June
 "India's retail inflation surges on food prices in challenge to Modi govt")
Social welfare spending by states to touch 10-year high this year: CRISIL
CRISIL added that the rise in allocation towards social welfare has coincided with a moderation in the growth of revenue receipts, resulting in continuing revenue deficits for the states
 "Social welfare spending by states to touch 10-year high this year: CRISIL")
Centre to procure additional 200K-tonne onions amid farmer protest
Purchase price set at Rs 2,410 per quintal, close to original export rate
 "Centre to procure additional 200K-tonne onions amid farmer protest")
Crude oil refining output rose 2.2% to 21.9 MMT in July: Oil Ministry
Domestic crude production rose 2.1 percent to 2.5 million metric tonnes
 "Crude oil refining output rose 2.2% to 21.9 MMT in July: Oil Ministry")
India to become growth engine for world, will be $5 trn economy soon: PM
He told the gathering that India has the world's third-largest startup ecosystem and there are over 100 unicorns in the country
 "India to become growth engine for world, will be $5 trn economy soon: PM")