Page 635 - Economy & Policy News
Amid safety concerns, railways to install Kavach on freight corridors
Anti-collision system on 1,465 route km of railway tracks
 "Amid safety concerns, railways to install Kavach on freight corridors")
India's forex kitty declines by $1.32 bn to $593.75 bn, shows RBI data
The overall reserves had jumped by $5.93 billion to $595.067 billion for the previous reporting week
 "India's forex kitty declines by $1.32 bn to $593.75 bn, shows RBI data")
India plans to challenge European Union's carbon border tax at WTO
The CBAM's transition phase will kick in from October, followed by levying carbon tax from January 2026
 "India plans to challenge European Union's carbon border tax at WTO")
CBIC redefining NAC role to make Customs assessment more efficient: Johri
Addressing the CII National Conference on Trade Facilitation, Johri said there are gaps in Customs faceless assessment and the department is looking at them
 "CBIC redefining NAC role to make Customs assessment more efficient: Johri")
Tamil Nadu eyes $6 bn investment in EVs, 150,000 jobs in five years
This comes after the state attracted nearly Rs 24,000 crore in investments in this space, creating almost 48,000 jobs during the pandemic period
 "Tamil Nadu eyes $6 bn investment in EVs, 150,000 jobs in five years")
Crude oil slumps on demand concerns amid rising rates offset supply cuts
Brent crude fell 49 cents, or 0.7%, to $75.18 a barrel by 1005 GMT while U.S. West Texas Intermediate (WTI) crude slipped 63 cents, or 0.9%, to $69.99
 "Crude oil slumps on demand concerns amid rising rates offset supply cuts")
Significant rise in demand for all categories of tea in Sale 24
A significant rise in demand for all categories of tea was in evidence during Sale-24, a Calcutta Tea Traders' Association (CTTA) official said here on Friday
 "Significant rise in demand for all categories of tea in Sale 24")
GST council may mull steps to prevent fake generation of ITC: Official
GST Council in its meeting next month, likely to discuss measures to ensure strict provisions for preventing fake generation of Input Tax Credit, aiming to prevent tax evasion, a senior official said
 "GST council may mull steps to prevent fake generation of ITC: Official")
India pitches for a rating upgrade with Moody's, questions methodology
A higher rating for India would mean the nation is less riskier, translating into lower interest rates on borrowings
 "India pitches for a rating upgrade with Moody's, questions methodology")
Merchandise import jump in May signals stable local economy: Economists
Merchandise imports advanced 14.5% over the previous month to $57.1 billion, while exports inched up 0.7% to $35 billion
 "Merchandise import jump in May signals stable local economy: Economists")
Private sector capex will be key contributor to growth: CEA Nageswaran
Chief Economic Advisor V Anantha Nageswaran expressed optimism about India's growth potential on Thursday during a special interactive session organized by FICCI
 "Private sector capex will be key contributor to growth: CEA Nageswaran")
India seals $3 billion drone deal with US ahead of PM Modi's visit
US National Security Advisor Jake Sullivan finished his two-day visit to New Delhi on Wednesday, meeting his Indian counterpart Ajit Doval, Foreign Minister S Jaishankar and Modi
 "India seals $3 billion drone deal with US ahead of PM Modi's visit")
India can look for FTA talks with Africa to further strengthen ties: Goyal
India can also look for negotiating a free trade agreement with Africa to further strengthen economic ties, he said
 "India can look for FTA talks with Africa to further strengthen ties: Goyal")
First e-auction of FCI wheat for pvt buyers under OMSS on June 28
State-owned Food Corporation of India (FCI) will offload 3-5 lakh tonne of wheat to small private buyers under the Open Market Sale Scheme (OMSS) via e-auction that will kick start on June 28
 "First e-auction of FCI wheat for pvt buyers under OMSS on June 28")
India seeks carve out for MSMEs from European Union's carbon tax
The CBAM's transition-phase will kick in from October, followed by levying of carbon tax from January 2026
 "India seeks carve out for MSMEs from European Union's carbon tax")
India's exports to UAE fall by 10.2% to $4.82 bn in April-May: Data
India's exports to the UAE contracted by 10.2% to $4.82 billion during April-May this fiscal against $5.37 billion in the year-ago period, according to the commerce ministry data
 "India's exports to UAE fall by 10.2% to $4.82 bn in April-May: Data")
States kept out of open market sale to preserve stocks, cool down inflation
It also said that the decision wasn't taken all of sudden and was the result of an inter ministerial meeting
 "States kept out of open market sale to preserve stocks, cool down inflation")
GST Council to meet in Delhi on July 11, may resolve online gaming issue
GGR is the total amount collected by casinos and online gaming companies before paying out money to winners
 "GST Council to meet in Delhi on July 11, may resolve online gaming issue")
Exports contract for 4th straight month; trade deficit hits 5-month high
Imports decline 6.6% in May
India seeks exemptions from EU's carbon tax for MSMEs: Commerce Secy
India has sought exemption for its MSMEs from the European Union's carbon tax, which would kick in from October this year, as the levy would impact the domestic industry, Commerce Secretary said
 "India seeks exemptions from EU's carbon tax for MSMEs: Commerce Secy")