Page 625 - Economy & Policy News
Govt seeks industry feedback on challenges in PLI to enhance effectiveness
Goyal urged officials to hold regular consultation and roundtables with PLI beneficiaries
 "Govt seeks industry feedback on challenges in PLI to enhance effectiveness")
Indo-US ties in a regulatory bind; aligning regulations can be a challenge
The dissonance will be the most glaring in the role of the Competition Commission of India, or CCI
 "Indo-US ties in a regulatory bind; aligning regulations can be a challenge")
Fair & remunerative price of Rs 315 per qtl for sugarcane this season: Govt
In the current sugar season, mills purchased approximately 335.3 million tons of sugarcane, worth more than Rs 1.11 trillion
 "Fair & remunerative price of Rs 315 per qtl for sugarcane this season: Govt")
Spurring fiscal equality: Ratio of GST to GSDP higher in poorer states
One aspiration for the GST system was that it would lead to regional development as it is a destination-based tax regime
 "Spurring fiscal equality: Ratio of GST to GSDP higher in poorer states")
Mahila Samman Savings Certificate open to PSBs and some pvt sector banks
In case remittances are delayed beyond the specified period, the bank shall pay a penalty equal to the rate of interest payable to the depositor plus 0.5% or 1%, depending on period of delay
 "Mahila Samman Savings Certificate open to PSBs and some pvt sector banks")
India's average growth rate likely to be 6.7% till FY27, says S&P
Indian economy is expected to clock an average growth rate of 6.7 per cent till 2026-27 fiscal driven by domestic consumption, S&P Global Ratings Senior Economist (Asia Pacific) Vishrut Rana said
 "India's average growth rate likely to be 6.7% till FY27, says S&P")
States offered Rs 1.4 trillion loans linked to power sector reforms
States are also eligible for bonus marks for privatisation of power distribution companies (discoms)
 "States offered Rs 1.4 trillion loans linked to power sector reforms")
Indian economy makes solid recovery despite global headwind: RBI Governor
Economic fragmentation is threatening macroeconomic prospects, especially among emerging market and developing economies (EMDEs), he said
 "Indian economy makes solid recovery despite global headwind: RBI Governor")
Go Green, Earn Credits: Govt starts Green Credits scheme under Mission LiFE
Mechanism will be implemented in phases. Initially, 2-3 activities from eight sectors are being considered for piloting the Programme. Later, more activities will be added from the selected sectors
 "Go Green, Earn Credits: Govt starts Green Credits scheme under Mission LiFE")
Govt seeks industry feedback on PLI scheme to enhance effectiveness
The govt announced the PLI scheme in 2021 for as many as 14 sectors, such as telecommunication, white goods, textiles and pharma with an outlay of Rs 1.97 lakh crore
 "Govt seeks industry feedback on PLI scheme to enhance effectiveness")
12 states to get Rs 66,413 crore in incentives for power sector reforms
The Ministry of Finance has granted permission to 12 state governments to raise financial resources of Rs 66,413 crore through borrowing permissions
 "12 states to get Rs 66,413 crore in incentives for power sector reforms")
India's rating upgrade hinges on sustainable fiscal consolidation: S&P
The RBI will not be in a hurry to cut rates until inflation risks have fully ebbed, said Vishrut Rana, senior economist, Asia-Pacific at S&P
 "India's rating upgrade hinges on sustainable fiscal consolidation: S&P")
Rising tomato prices: Heatwaves and heavy rain impact supply in India
Consumer affairs ministry maintains that these price hikes are normal for this time of year and are a temporary phenomenon while households cut back on their tomato budgets
 "Rising tomato prices: Heatwaves and heavy rain impact supply in India")
Goldman Sachs CEO projects high growth trajectory for India: Report
Global CEOs are thinking about India as a big growth opportunity while recognising some of the challenges with investing in the country, Solomon told the newspaper in an interview
 "Goldman Sachs CEO projects high growth trajectory for India: Report")
Can India continue with purchasing spree of Russian oil as discounts narrow
The shift to date has suited the Kremlin, looking for new markets as Western buyers and established oil traders pull back. It's worked for India too, eager to snap up cheaper fuel
 "Can India continue with purchasing spree of Russian oil as discounts narrow")
Govt prepares new multibillion-dollar battery subsidy scheme: Report
The draft proposal for a production-linked incentive subsidy scheme would offer Rs 21,600 crore ($2.63 billion) from this year through to 2030 for companies
 "Govt prepares new multibillion-dollar battery subsidy scheme: Report")
TCS on foreign remittances: FinMin evaluates issues flagged by banks
July 1 deadline extension not ruled out
 "TCS on foreign remittances: FinMin evaluates issues flagged by banks")
States borrowing cost rises 4 basis points to 7.4%, says Icra Ratings
In the last weekly auction of the June quarter, 12 states raised Rs 22,500 crore in debt on Tuesday
 "States borrowing cost rises 4 basis points to 7.4%, says Icra Ratings")
Delhi govt sets up GST registration cell to boost revenue collection
The Delhi government has set up a centralised GST registration cell Sewa Kendra to improve the registration process, combat tax evasion and boost revenue, said an official statement on Tuesday
 "Delhi govt sets up GST registration cell to boost revenue collection")
Centre to renew consultation with firms shortlisted under PLI scheme
DPIIT asked to nudge ministries to hold talks with beneficiaries