Page 648 - Economy & Policy News
Indian economy to be the fastest-growing in FY24, says World Bank
Global growth forecast lifted to 2.1%
 "Indian economy to be the fastest-growing in FY24, says World Bank")
India's JAM trinity to push Africa's digital reach: Sunil Bharti Mittal
B20 Council on African economic integration to submit report to G20 in August
 "India's JAM trinity to push Africa's digital reach: Sunil Bharti Mittal")
Fall in equity flows, flat reinvested earnings pull down gross FY23 FDI
If the global economy slows down and interest rates harden further, it may hit foreign investments again
 "Fall in equity flows, flat reinvested earnings pull down gross FY23 FDI")
India, UAE to review CEPA progress next week, to chalk out data sharing
A delegation from the UAE will be in the national capital next to meet key officials from the department of commerce, a person aware of the matter said
 "India, UAE to review CEPA progress next week, to chalk out data sharing")
Over-emitting nations owe India $1,446 per capita as compensation: Study
Industrialised nations of the Global North, such as US and Germany, are responsible for 90 percent of excessive levels of carbon dioxide emissions
 "Over-emitting nations owe India $1,446 per capita as compensation: Study")
Saudi oil output cuts unlikely to lift prices to high $80s-low $90s: Citi
Prices are expected to be range-bound, the analysts added, with Brent averaging $81 a barrel through the year
 "Saudi oil output cuts unlikely to lift prices to high $80s-low $90s: Citi")
 "Crude Oil falls as economic fears overshadow Saudi Arabia's output cut")
Visits to banks, physical presentation of documents can be avoided: Report
The report also suggested that REs may adopt Faceless / Straight Through Processes' (STPs) in order to close accounts, and/or accept, acknowledge, and track the communication by the customer
 "Visits to banks, physical presentation of documents can be avoided: Report")
Rupee rises 1 paisa against US dollar to close at 82.62 ahead of RBI meet
The rupee consolidated in a narrow range to settle just 1 paisa higher at 82.62 (provisional) against the US dollar on Tuesday amid a muted trend in domestic equities.
 "Rupee rises 1 paisa against US dollar to close at 82.62 ahead of RBI meet")
Signals, systems, checks, balances: Explaining the Odisha train disaster
The Indian Railways is deploying a new train control system, as pressure on its infrastructure increases
 "Signals, systems, checks, balances: Explaining the Odisha train disaster")
Indian households to make over 50% non-cash transactions by FY26: Report
Indian e-commerce market will be worth Rs 900,000 crore then, says the research
 "Indian households to make over 50% non-cash transactions by FY26: Report")
RBI not to remove its finger from repo rate pause button: Experts
The Reserve Bank of India's (RBI) Monetary Policy Committee (MPC) may not remove its finger from the repo rate pause button it had hit in April 2023, said experts
 "RBI not to remove its finger from repo rate pause button: Experts")
Jaitley and Sitharaman: A look at divestment under the two NDA FMs
In his early days, PM Modi had said that the government would get out of most sectors, a vision which was given credence through the new policy of 'strategic sectors' announced by Sitharaman in 2020
 "Jaitley and Sitharaman: A look at divestment under the two NDA FMs")
RBI's MPC starts deliberations on policy rate, decision on Thursday
The Reserve Bank's rate-setting monetary policy panel began deliberations on Tuesday amid expectations that the central bank will keep the benchmark interest rates unchanged at 6.5 per cent
 "RBI's MPC starts deliberations on policy rate, decision on Thursday")
Will not face shortage of coal this year, even during Monsoon: Pralhad
India will not face any shortage of coal this year even during the monsoon, Coal and Mines Minister Pralhad Joshi said on Tuesday.
 "Will not face shortage of coal this year, even during Monsoon: Pralhad")
India's internet economy to grow 6-fold to $1 trn by 2030: Report
According to the report, the growth will be led by the B2C e-commerce segment, followed by B2B e-commerce, software-as-a-service providers and online media led by over-the-top players
 "India's internet economy to grow 6-fold to $1 trn by 2030: Report")
India's palm oil imports hit 27-month low, buyers pick cheaper soft oils
India buys palm oil mainly from Indonesia, Malaysia - the top two producers - and Thailand, while it imports soyoil and sunflower oil from Argentina, Brazil, Russia and Ukraine
 "India's palm oil imports hit 27-month low, buyers pick cheaper soft oils")
RBI Governor launches financial inclusion dashboard 'Antardrishti'
The dashboard, presently intended for internal use in the RBI, will further facilitate greater financial inclusion through a multi-stakeholder approach
India and Indonesia to drive Asia's growth: Morgan Stanley, Nomura
While Morgan Stanley projected a 6.2 per cent GDP growth forecast for India in FY24, Nomura estimated the Indian economy to grow at 5.9 per cent in 2023
Cargo traffic handled by major ports up 3.2% YoY at 68.06 MT in May: IPA
Cargo traffic handled by major ports in the country witnessed an annual rise of 3.2 per cent to 68.06 million tons (MT) in May this year, an official release said on Monday
 "Cargo traffic handled by major ports up 3.2% YoY at 68.06 MT in May: IPA")