Page 591 - Economy & Policy News
With effective market intervention, Kerala has lowest inflation: CM Vijayan
The inflation rate is also the lowest among the states, he said amid concerns about rising prices nationwide
 "With effective market intervention, Kerala has lowest inflation: CM Vijayan")
India's foreign exchange reserves snap a three-week losing streak
Rise by $708 mn to $602 bn in the week ended Aug 11
 "India's foreign exchange reserves snap a three-week losing streak")
Upgrade awaited: Govt considers Navratna status for Ircon and RCF
All time high net profits, annual turnover and net worth have enhanced such proposals from administrative ministries
 "Upgrade awaited: Govt considers Navratna status for Ircon and RCF")
Is the fairy tale of India's sugar sector facing multiple challenges?
The uneven monsoon in 2023 means that industry is already beginning to factor in a drop in production in Maharashtra, Karnataka and Gujarat
 "Is the fairy tale of India's sugar sector facing multiple challenges?")
Mapping Kharif sowing: Paddy acreage rises 4.3%; reservoir level dips
The last 10-years average during the same period was 63 per cent of FRL
 "Mapping Kharif sowing: Paddy acreage rises 4.3%; reservoir level dips")
Retail inflation for farm workers rises from 6.31% to 7.43% in July
The All-India Consumer Price Index Number for Agricultural Labourers (CPI-AL) and Rural Labourers (CPI-RL) for July 2023 increased by 19 points each to stand at 1,215 and 1,226 points, respectively
 "Retail inflation for farm workers rises from 6.31% to 7.43% in July")
Moody's affirms India's Baa3 rating, maintains 'stable' outlook on economy
Flags debt burden, warns of escalation of political tensions
 "Moody's affirms India's Baa3 rating, maintains 'stable' outlook on economy")
RBI allows IDF-NBFCs to raise money via external commercial borrowings
The revised framework envisages withdrawal of the requirement of a sponsor for the IDFs and making tripartite agreement optional for Public Private Partnership (PPP) projects
 "RBI allows IDF-NBFCs to raise money via external commercial borrowings")
Paddy sowing rises 4.3% in ongoing kharif season, shows govt data
Paddy-sowing areas in Andhra Pradesh were at 8.29 lakh hectares till August 18, down by 1.53 lakh hectares from the same period of the previous year
 "Paddy sowing rises 4.3% in ongoing kharif season, shows govt data")
Govt will stick to fiscal deficit target of 5.9% of GDP: Finance secretary
Although there would be a shortfall with respect to disinvestment, he said, this shortfall would be met by non-tax revenue mobilisation
 "Govt will stick to fiscal deficit target of 5.9% of GDP: Finance secretary")
Using all platforms to flag non-tariff barriers impacting trade: Official
India has already raised its concerns on issues like the European Union's (EU) carbon tax on different platforms, including the World Trade Organisation
 "Using all platforms to flag non-tariff barriers impacting trade: Official")
High-level meetings on FTA between India, UK scheduled for next week
Commerce Secretary Sunil Barthwal also said that bilateral meetings will also be held with the official teams of the European Union (EU) and Canada
The weekly government bond auction sees firm demand, say dealers
The cut-off at the auction was better than expected, which weighed on the yields in the secondary market by the end of the trade
 "The weekly government bond auction sees firm demand, say dealers")
Number of Jan Dhan accounts crosses the 500 million mark, shows data
The average balance in PMJDY accounts stands at Rs 4,076, and over 55 million PMJDY accounts are receiving Direct Benefit Transfer (DBT) benefits
 "Number of Jan Dhan accounts crosses the 500 million mark, shows data")
What is RBI's pilot project for facilitating frictionless credit?
The Reserve Bank Innovation Hub, a wholly-owned subsidiary of the central bank, has developed the end-to-end digital platform
 "What is RBI's pilot project for facilitating frictionless credit?")
Foreign exchange reserves up $700 mn to $602 bn, snap 3-week losing streak
The changes in foreign currency assets, expressed in dollar terms, include the effects of appreciation or depreciation of other currencies held in the Reserve Bank of India's (RBI) reserves
 "Foreign exchange reserves up $700 mn to $602 bn, snap 3-week losing streak")
Moody's affirms India's sovereign ratings, retains stable economic outlook
India's long-term local and foreign-currency issuer ratings and the local-currency senior unsecured rating remains at Baa3, while the other short-term local-currency rating stands at P-3, it said
 "Moody's affirms India's sovereign ratings, retains stable economic outlook")
Organic products export touches a new high during FY22 in Madhya Pradesh
Most of the organic farming is undertaken in the districts of Mandla, Dindori, Balaghat, Chhindwara, Betul, Katni, Umaria, Anuppur, Damoh, Sagar, Alirajpur and Jhabua
 "Organic products export touches a new high during FY22 in Madhya Pradesh")
Manufacturing push can add 50-100 bps to GDP till 2030: UBS Securities
On the overall growth for this fiscal, the brokerage firm has retained its previous forecast of 6.2 per cent, which is 10 basis points higher than the consensus average
 "Manufacturing push can add 50-100 bps to GDP till 2030: UBS Securities")
Laptop can be quite a potent source of leakage: Goyal on import restriction
"We are conscious that laptops are our continuous companion. Laptops are being used for all our privileged and confidential information. And they can be quite a potent source of leakage," Goyal said
 "Laptop can be quite a potent source of leakage: Goyal on import restriction")