Page 595 - Economy & Policy News

India's rice planting accelerates with revival of monsoon rains, shows data

Crop-nourishing monsoon rains picked up in July and August, allowing farmers to plant 32.8 million hectares (81 million acres) with rice by Friday, up 5.1 per cent from the same period last year

It rained Bills this monsoon session of Parliament amid cloud of protests

The just-ended session also witnessed the debate on the first no-confidence motion of the 17th Lok Sabha

UPI can play vital role as a global public asset: RBI Governor Das

RBI governor asks private sector to engage in provision of global public goods

FM calls for concerted global efforts to restructure debt of poor nations

Sitharaman said G20 also stresses the criticality of debt vulnerability in low- and middle-income countries through an effective, comprehensive, and systematic approach

Section 302 is not murder and Section 420 not cheating: Proposed Code

Govt tables Bill to replace colonial-era laws, proposes death for lynching, rape of minors

Direct tax collections rise 16% to Rs 6.53 trillion till Aug 10: I-T dept

The collection is 32.03 per cent of the total budget estimates of direct taxes for current fiscal 2023-24

Bank of Baroda, Canara Bank, BoM raise rates by up to 10 basis points

One year MCLR hiked to 8.7% with effect from Saturday

Indian economy to grow at 6% in FY24 due to global slowdown

"The Q1 industrial growth remained buoyant, especially construction and consumer non-durables; however, the agricultural growth was muted and the services growth was sluggish," it said

Overseas gamers too will have to pay 28% GST on domestic e-gaming platforms

Domestic online gaming companies will be required to deduct 28 per cent GST on bets placed from overseas locations, including by foreign players, as such bets will also be treated as actionable claims

PLI scheme incentive disbursement likely at Rs 13,000 crore in FY24

Separately, Singh noted that the Centre is working to modify the scheme for sectors that have not performed as expected

Industrial production rises 3.7% in June against 5.3% in May: NSO data

The data released by the National Statistical Office (NSO) showed that the manufacturing sector's output increased by 3.1 per cent in June 2023

Govt reviewing FTAs with ASEAN, Korea: MoS Patel informed Parliament

"India has signed 13 Free Trade Agreements (FTAs) and 6 Preferential Trade Agreements (PTAs) with its trading partners," the MoS said

Ministry set to implement two production-linked incentive schemes

The Ministry of Heavy Industries (MHI) is set to implement PLI scheme for automobile and auto components (PLI Auto), and PLI scheme for advanced chemistry cell (ACC) (PLI ACC)

Disbursement under PLI scheme to hit Rs 13k crore this year: DPIIT secy

The government disbursed only Rs 2,900 crore till March 2023 out of Rs 3,400 crore claims received under the scheme so far

Govt to release buffer onion in open market to keep prices under check

"We will release onion from the buffer stock immediately," Consumer Affairs Secretary Rohit Kumar Singh said

Govt to come up with 60 QCOs to curb imports of sub-standard goods

Joint Secretary in DPIIT Sanjiv said these orders are issued for goods like smart meters, nuts, bolts and fasteners

Govt expects PLI payouts to rise Rs 13,000 cr this year: DPIIT official

Under the $24 billion scheme, the federal government pays local manufacturers when targets such as sales are met, aiming to boost investment in manufacturing. Targets differ from sector to sector

LS passes amendments to GST bills to levy 28% tax on bets in online gaming

The Central Goods and Services Tax (Amendment) Bill, 2023, and The Integrated Goods and Services Tax (Amendment) Bill, 2023, were passed by the Lok Sabha by a voice vote, without a debate

Domino effect: India rice export ban puts market on edge for similar curbs

Thailand, Vietnam and Pakistan, world's second, third and fourth biggest exporters, respectively, have said they are keen to boost sales since demand for their crops has been rising after India's ban

Improved capacity, reduced turnaround time: India's ports mean business

Major ports have added more than 100 million tonnes in additional traffic since 2014-15