Page 599 - Economy & Policy News
India's sovereign ratings by global agencies utterly absurd: Sanjeev Sanyal
India should be rated at least one or two grades higher than what it is at present by global rating agencies, Sanjeev Sanyal, Member of the Economic Advisory Council to the Prime Minister said
 "India's sovereign ratings by global agencies utterly absurd: Sanjeev Sanyal")
Rising food prices may push July inflation up by 190 bps to 6.7%: Report
Citing the sharp rise in food prices, economists at a foreign bank have forecast a steeply higher retail inflation print for July, pegging it at 6.7 per cent
 "Rising food prices may push July inflation up by 190 bps to 6.7%: Report")
EPFO to appoint actuary to get consultancy for insurance, pension scheme
The proposal to elicit response from the interested actuarial firms was issued on Friday and the process is slated to commence by August 17
 "EPFO to appoint actuary to get consultancy for insurance, pension scheme")
A veg thali cost 28% more in July than June, thanks to tomatoes: CRISIL
A veg thali comprises roti, vegetables (onion, tomato, and potato), rice, dal, curd, and salad
 "A veg thali cost 28% more in July than June, thanks to tomatoes: CRISIL")
Panel wants Centre to allow bundling of millets with PDS rice, wheat
The report also highlights that procurement of coarse cereals, including jowar, bajra, ragi, and maize (both millets and non-millets), has seen a ninefold increase between 2016-17 and FY23
 "Panel wants Centre to allow bundling of millets with PDS rice, wheat")
Centre to scrap tender for 4,675 e-buses amidst lacklustre OEM response
The tender, issued on January 4, 2023, failed to attract bids from automakers such as Tata Motors, Ashok Leyland, and PMI Electro Mobility, leading to speculation about its cancellation
 "Centre to scrap tender for 4,675 e-buses amidst lacklustre OEM response")
Digital Personal Data Protection Bill, 2023 clears Lok Sabha test
The Bill prescribes penalties of up to Rs 250 crore for each instance of a data breach arising from a lack of reasonable safeguards on platforms
 "Digital Personal Data Protection Bill, 2023 clears Lok Sabha test")
Individuals reporting annual income of above Rs 1 cr doubles in 2 yrs
Individuals reporting annual total income of over Rs one crore have doubled to 1.69 lakh in the two-year period ending March 2022, the income tax department data showed
 "Individuals reporting annual income of above Rs 1 cr doubles in 2 yrs")
Niti Aayog looking at tax related issues of engineering, textile industry
The exercise assumes significance as these three sectors are labour-intensive and contribute significantly to the country's merchandise exports
Delhi's draft climate action plan aims to reduce dependence on hydropower
As Delhi prepares for the impact of climate change, the city government's draft action plan proposes a reduction in the national capital's reliance on hydropower from other states
 "Delhi's draft climate action plan aims to reduce dependence on hydropower")
Climate change could downgrade India's credit rating, study finds
We find material impacts of climate change as early as 2030, with significantly deeper downgrades across more countries as climate warms and temperature volatility rises, Klusak said
 "Climate change could downgrade India's credit rating, study finds")
India's rice export ban now sparks concern that sugar might be next
The rice export ban is a clear signal the government is concerned about food security and inflation, said Henrique Akamine, head of sugar and ethanol at Tropical Research Services
 "India's rice export ban now sparks concern that sugar might be next")
Statsguru: Six charts explain expansion in India's services trade
An analysis of global numbers suggests that other commercial services dominate services trade globally
 "Statsguru: Six charts explain expansion in India's services trade")
No end in sight? Food price hike likely to disturb India's inflation maths
But, the price rise has not been only limited to vegetables, infact, wheat, rice, spices and even edible oil rates have shown an upward movement off late
 "No end in sight? Food price hike likely to disturb India's inflation maths")
Oil-marketing companies raise prices of ethanol from maize, damaged food
New price applicable for the remaining 3 months of 2022-23 supply year
 "Oil-marketing companies raise prices of ethanol from maize, damaged food")
Policy repo rate cut not likely before Q1FY25: Business Standard poll
Despite inflation worries, MPC to maintain status quo on rates in its meet this week
 "Policy repo rate cut not likely before Q1FY25: Business Standard poll")
Curbs on PC, tablet, laptop imports: WTO dispute unlikely in near future
India needs to give a notification to the WTO at the Committee of Import Licensing, though a date for this has not been decided yet
 "Curbs on PC, tablet, laptop imports: WTO dispute unlikely in near future")
Surging prices: Indian refiners push the envelope on Russia crude oil
With Urals crude prices on the rise, refiners are negotiating for bigger discounts and alternative currencies for payment
 "Surging prices: Indian refiners push the envelope on Russia crude oil")
No sugar mill in Maharashtra should be without ethanol distillery: Shah
Union Home and Cooperation Minister Amit Shah said there should not be a single sugar mill in Maharashtra that is not producing ethanol
 "No sugar mill in Maharashtra should be without ethanol distillery: Shah")
We changed perception tax paid by citizens is squandered in corruption: PM
PM Modi asserted that his govt has changed the perception that the tax paid by citizens is squandered in corruption and said the 16 per cent increase in the number of people filing income tax returns
 "We changed perception tax paid by citizens is squandered in corruption: PM")