Page 611 - Economy & Policy News

Third finance track of G20 starts brainstorming on draft communique

In Gandhinagar, preparations were in full swing for the upcoming meeting of the finance ministers and central bank governors, scheduled for July 17-18

Banks park Rs 59,875 cr against notified amount in RBI's VRRR auction

In July, the central bank conducted seven VRRR auctions so far to remove surplus liquidity from the system

Private equity dealings at listed firms to face shareholders' test

Increased scrutiny could impact fresh investments, say experts

Govt offers firms more time to seek IT hardware production incentives

The window to apply for the scheme - PLI 2.0 for IT Hardware - was previously supposed to close on July 15

Sowing of kharif crops picks up pace, but still 4.3% deficit YoY

Pulses, soybean, cotton still laggards; monsoon deficit in 40% of 717 districts

Foreign exchange reserves rise $1.2 billion to $596 billion: RBI data

The overall reserve had increased by $1.8 billion to $595 billion in the previous reporting week

India-UK FTA: Ongoing talks to clear thorny issues like labour, environment

Till now, out of 26 policy areas or chapters, 14 chapters have been closed for negotiations, while significant progress has been made in other chapters

Exports see sharpest decline in 3 years; trade deficit narrows to $20.1 bn

Merchandise exports witnessed contraction in 21 of the 30 key sectors in June

WPI inflation sinks to near eight-year low of minus 4.12% in June

Third straight month of dip in inflation, mainly due to high base and moderation across all three major components

Rupee weakens despite fall in dollar index as RBI stepped by buying

The dollar index measures the strength of the US dollar against a basket of six major currencies

Edible oil imports up by 39.31% to 13.11 lakh tonnes in June on high demand

India's import of edible oils grew by 39.31 per cent in June to 13.11 lakh tonnes compared to the same month last year due to increased demand, Solvent Extractors' Association of India (SEA) said

Indian refiners used Chinese yuan to pay for some Russian oil imports

The official also said the Reserve Bank of India will release guidance for banks in two to three days to resolve some teething issues on the rupee trade mechanism

Despite decades of power reforms, discoms still an area of darkness

The emphasis for these discoms is to only ensure power supply reaches to the farthest corner of their grid. Quoting Power Finance Corporation data, Barnwal notes

Transmission planning should take renewable energy into account: Minister

R K Singh told officials that by 2030, the country's installed power capacity is likely to grow to over 777 GW

India's trade deficit falls to $20.13 bn in June from $22.1 bn in May

Services exports in June were $27.12 billion, while imports were $15.88 billion

No GST on replacement of parts during warranty period, says council

Clarification provides certainty on the tax treatment of warranty repairs, say experts

WPI inflation declines to -4.12% in June on easing prices of food

The wholesale price index (WPI) based inflation in May was (-) 3.48 per cent. In June last year, it was 16.23 per cent

21% unorganised workers opted out of Centre's pension scheme in six months

PM-SYM is a voluntary contributory pension scheme that aims to bring millions of unorganised workers into the social security net

Civil aviation sector witnessing growth phase: Jyotiraditya Scindia

Union Minister Jyotiraditya Scindia on Friday said that the civil aviation sector is contributing to the rise of the economic power of India

Dollar buckles on US disinflation signs as Fed nears end of hiking cycle

Against a basket of six currencies, the dollar index fell 0.8% to 99.738, after dropping earlier to 99.767, a new 15-month trough. The dollar index was headed for its biggest weekly slide in 2023