Page 592 - Economy & Policy News

Maha coop sugar mills mull paying more to farmers as tax demand settles

Sugar farmers hold key to several seats in the state

RBI bought $4.50 billion in the spot foreign exchange market in June

The RBI's net outstanding forward purchase by the end of June stood at $19.47 billion, slightly higher than the previous month's figure of $19.27 billion

Govt eyes ethanol to meet its 5% biodiesel blending target by 2030

Widely used in Europe, biodiesel refers to biodegradable fuel traditionally manufactured from vegetable oils, animal fats, or recycled restaurant grease

Modi govt seeks to free up $12 billion to tackle inflation before LS vote

It would be the second straight year of similar adjustments to contain costs for consumers after the government unveiled a $26-billion plan last year

Tightening India-US 10-year bond yield spread puts rupee under pressure

The yield on 10-year Indian government bonds is now only 295 basis points higher than that of US 10-year treasury bonds, the lowest since January 2007

Sustainable, planned stay with Indian food: What Indian travellers want

Looking back at the last year, people from Vietnam (95 per cent) and India (89 per cent) embarked on the most journeys

Investment cycle gaining momentum, envisaged capex to jump over 80%: RBI

Cleaning up of balance sheets by both corporates and banks makes room for upping lending activities, the article, which draws from the RBI's data from banks

Familiarise with newer global areas: FM Nirmala Sitharaman to CAs

On the use of technology and generative artificial intelligence, Sitharaman said: "The traditional image of accounting as a manual and tedious process is rapidly evolving; and for your good"

Oil rises on strong travel demand, China's move to soothe economic woes

Brent crude futures rose $1.24, or 1.5% to $84.70 a barrel by 11:18 a.m. ET (1518 GMT). U.S. West Texas Intermediate crude (WTI) was up $1.48, or 1.8% at $80.86 a barrel

Participation of non-bank entities in govt debt mkt rose during pandemic

The report also found that non-bank investors are more sensitive to changes in government securities yields compared to their banking counterparts

ESIC added 2.02 million members, 24,298 new establishments in June

Out of the total 2.02 million employees added in June, 977,000 employees were up to the age group of 25 years, which translates to 48.22% of the total number

RBI bought net $4.50 billion in spot foreign exchange market in June

The RBI purchased $7.79 billion and sold $3.28 billion, the bulletin showed. In May, the central bank had bought a net of $7.37 billion in the spot market

Economic ties between US and India flourishing: Christopher W. Hodges

On his first visit to Bengaluru, Hodges is meeting with government officials, scientists, business leaders, & entrepreneurs to underscore the United States & India's strong economic & commercial ties

Domestic consumption, Chinese market can lift Darjeeling tea: ITEA chairman

Teas from Nepal, sharing similar characteristics with Darjeeling tea, have made inroads. Kanoria warned that the threat from Nepal was serious

Economy gathering momentum in Q2, inflation remains concern, says RBI

High frequency food price data for August so far (up to 14th) show that prices of cereals and pulses continued to increase in August

RBI launches 'UDGAM', centralised web portal for unclaimed deposits

The web portal will help users identify and approach their banks for either claiming unclaimed deposits or making their deposit accounts operative at their banks, the RBI said

PM-eBus Sewa to act as catalyst for EV promotion across urban centres: SMEV

It will also play an instrumental role in propelling India towards self-reliance, environmental stewardship, and its envisioned status as a hub for EVs

CBDT issues draft form for biz to report inventory valuation by accountants

Beginning this fiscal, tax officers have been empowered to order for inventory valuation from a cost accountant at any stage of the proceedings pending before him/her

Govt likely to slash duty on UK cars, scotch whisky under trade pact

Striking a trade accord is critical for India's ambition to become a manufacturing powerhouse, while the UK is seeking to clinch new deals to highlight the benefits of Brexit

Digital economy to contribute over 20% of GDP by 2026: Chandrasekhar

Chandrasekhar said 'the centre of gravity of tech', which used to be in a few countries and centred around a few corporations is moving to open source systems to young startups