Page 622 - Economy & Policy News
Tomato prices will cool down in next 15 days; normalise in a month: Govt
Consumer Affairs Secretary Rohit Kumar Singh, in a media briefing, also said the retail prices of tomato in the national capital will come down immediately on improved supplies from Solan and Sirmaur
 "Tomato prices will cool down in next 15 days; normalise in a month: Govt")
Rajasthan govt approves proposal to upgrade skills of weavers, spinners
A state government official said: "This will help them become self-reliant and boost sales of khadi products"
 "Rajasthan govt approves proposal to upgrade skills of weavers, spinners")
India's forex reserves drop $2.9 bn to $593.19 billion, shows RBI data
The overall reserves increased by USD 2.35 billion to USD 596 in the previous reporting week
 "India's forex reserves drop $2.9 bn to $593.19 billion, shows RBI data")
June sees e-two-wheeler registrations fall sharply across all players
Drop 60% over May record of 105,348 units
 "June sees e-two-wheeler registrations fall sharply across all players")
Six years of GST: Raking in at least Rs 1.5 trn every month is new normal
Data exchange, reduced costs of business also help increase direct tax collection
 "Six years of GST: Raking in at least Rs 1.5 trn every month is new normal")
Centre's fiscal deficit at 11.8% of full year target, shows CGA data
The fiscal deficit was 12.3 per cent of 2022-23 BE a year ago
 "Centre's fiscal deficit at 11.8% of full year target, shows CGA data")
Strong growth outlook to offset foreign mkt slowdown for India Inc: Fitch
Earlier this month, Fitch had raised India's economic growth forecast to 6.3 per cent for the current fiscal year 2023-24 from the 6 per cent it had predicted previously
 "Strong growth outlook to offset foreign mkt slowdown for India Inc: Fitch")
GST an engine for driving consumption, helped household save on bills: Govt
A nationwide GST, which subsumed 17 local levies like excise duty, service tax and VAT and 13 cesses, was rolled out at the stroke of midnight on July 1, 2017
Centre unlikely to launch PLI schemes for new sectors this year: Report
The proposed changes to the PLI schemes will allow new players to benefit from the incentives, sources said
 "Centre unlikely to launch PLI schemes for new sectors this year: Report")
Canada PR: Express Entry invites for skilled STEM newcomers on 5 July
Canada has introduced a new stream under its Express Entry immigration pathway to prioritise skilled newcomers with Science, Technology, Engineering, and Mathematics (STEM) experience.
 "Canada PR: Express Entry invites for skilled STEM newcomers on 5 July")
'Samriddhi' meet: Uttar Pradesh now an investor's favourite destination
So far, 25 sectoral policies have been prepared and implemented
 "'Samriddhi' meet: Uttar Pradesh now an investor's favourite destination")
Road to development: UP in fast lane to becoming a $1 trillion economy
Uttar Pradesh's recent Global Investor Summit has given a glimpse in this direction, where it managed to mop up investment proposals worth Rs 33.5 trn; this further increased to Rs 36 trn
 "Road to development: UP in fast lane to becoming a $1 trillion economy")
No deal for access to Britain's labour market: UK on India FTA talks
Britain launched trade talks with India in January last year, and Prime Minister Rishi Sunak has stressed that he won't sacrifice quality for speed in negotiations
 "No deal for access to Britain's labour market: UK on India FTA talks")
BRICS countries likely to induct five new members in August summit
Saudi Arabia's entry almost certain; Indonesia, UAE, Egypt also in the fray
 "BRICS countries likely to induct five new members in August summit")
Centre prohibits import of cigarette lighters priced less than Rs 20
The government on Thursday prohibited imports of cigarette lighters if the price per unit is less than Rs 20, with a view to discourage inbound shipments of the product.
 "Centre prohibits import of cigarette lighters priced less than Rs 20")
India, Philippines decide to commence negotiations on bilateral trade pact
India and the Philippines on Thursday agreed to commence negotiations on a bilateral preferential trade pact and vowed to step up defence cooperation, especially in the maritime security domain
 "India, Philippines decide to commence negotiations on bilateral trade pact")
I-T dept launches tax-evasion probe against social media influencers
The income-tax department has launched a probe against certain social media influencers and content creators on platforms like YouTube and Instagram for allegedly not showing their income and profits
 "I-T dept launches tax-evasion probe against social media influencers")
Govt unlikely to raise FY24 borrowing plan; bond yields may remain below 7%
Railways, NHAI asked not to borrow from market
 "Govt unlikely to raise FY24 borrowing plan; bond yields may remain below 7%")
Aadhaar-based face authentication crosses all time high of 10.6 mn in May
The number of face authentication transactions is on an upward trajectory, and the monthly numbers clocked in May is an increase of 38 per cent
 "Aadhaar-based face authentication crosses all time high of 10.6 mn in May")
Prices of tomato, ginger soar in Jammu amid heavy rainfall, landslides
The recent price surge due to a demand-supply gap has posed significant challenges for low-income individuals who struggle to afford essential commodities