Page 649 - Economy & Policy News
India's forex reserves fall for second straight week at $589.14 billion
Reserves had fallen by $6.05 billion in the week ended May 19, the biggest fall in more than three months
 "India's forex reserves fall for second straight week at $589.14 billion")
India's April finished steel imports from China hit five-year high
India imported 0.5 million tonnes of finished steel in April - the highest since 2019 - up 38.2% from a year earlier, the data showed
 "India's April finished steel imports from China hit five-year high")
Defending GDP figures, former CEA K Subramanian attacks his predecessor
Former CEA Krishnamurthy Subramanian said that his predecessor Arvind Subramanian could have 'easily picked up the phone and spoken to the chief statistician' something was wrong with GDP figures
 "Defending GDP figures, former CEA K Subramanian attacks his predecessor")
Agriculture, fisheries subsidies on agenda at WTO meet in Paris next week
In the previous ministerial (MC12), India was hoping to get a permanent solution to the public stockholding issue for food security
 "Agriculture, fisheries subsidies on agenda at WTO meet in Paris next week")
India is taking its place on global economic map due to Modi: Rajnath Singh
Rajnath Singh stated that efforts were being made to create a strong, and tech-savvy armed forces on the back of a robust defence industry
Rooftop solar capacity increased 6.35% to 485 MW in Jan-Mar: Mercom
The rooftop solar capacity in India increased by 6.35 per cent to 485 megawatt (MW) in the January-March quarter of this year, according to Mercom India.
 "Rooftop solar capacity increased 6.35% to 485 MW in Jan-Mar: Mercom")
Coal production up 7.10% YoY at 76.26 MT in May, dispatch rises 5.7% MoM
Domestic coal production was 7.10 per cent higher year-on-year at 76.26 million tonne (MT) in May
 "Coal production up 7.10% YoY at 76.26 MT in May, dispatch rises 5.7% MoM")
Vedanta-Foxconn setback shows cracks in Modi's $24 bn manufacturing push
A $3 billion proposal that had Israeli foundry Tower Semiconductor Ltd. as a tech partner has also stalled, while a third plan is stuck because Singapore-based IGSS Ventures Pte wants to re-apply
 "Vedanta-Foxconn setback shows cracks in Modi's $24 bn manufacturing push")
GST collection to car sales: May data paints healthy picture of economy
GST collection, car sales post robust numbers
 "GST collection to car sales: May data paints healthy picture of economy")
Uttar Pradesh govt launches 15-day mega registration drive for MSMEs
UP govt on Thursday launched a 15-day registration campaign for Micro, Small and Medium Entreprises in all districts across the state, according to an official statement from the Chief Minister office
 "Uttar Pradesh govt launches 15-day mega registration drive for MSMEs")
IPEF's supply chain agreement to boost domestic manufacturing: Commerce min
"Once implemented, the Supply Chain Agreement is expected to bring in a number of benefits to India and the other IPEF partner countries," it said
Nepal PM seeks Indian investments in mining, agri, energy, hospitality, IT
He said that abundance of natural resources, large pool of human capital, a promising market with sound policies and regulatory framework makes Nepal an ideal attractive destination for investment
 "Nepal PM seeks Indian investments in mining, agri, energy, hospitality, IT")
India's FY24 GDP data: Spate of forecast hikes, but not all agree
Some say El Niño conditions may prove to be a headwind for the economy
 "India's FY24 GDP data: Spate of forecast hikes, but not all agree")
Huge opportunities will open up when exports touch $2 trn by 2030: Goyal
Commerce and Industry Minister Piyush Goyal on Thursday said huge opportunities for people and businesses will be opened up when the country's goods and services exports touch USD 2 trillion by 2030
 "Huge opportunities will open up when exports touch $2 trn by 2030: Goyal")
Strategic disinvestment push: Buyers of PSU shares exempt from gift tax
The relaxation will stay as long as the strategic investor retains at least 51 per cent in the PSU after the takeover
 "Strategic disinvestment push: Buyers of PSU shares exempt from gift tax")
RBI should continue with pause, change its stance to neutral: CII President
Says Indian economy likely to grow at 6.5-6.7% in FY24
 "RBI should continue with pause, change its stance to neutral: CII President")
PM SVANidhi scheme's spread among fastest, says Hardeep Puri
Union minister Hardeep Singh Puri on Thursday said the PM SVANidhi scheme, launched to help street vendors get easy loans, is witnessing one of the fastest roll-outs among all government schemes
 "PM SVANidhi scheme's spread among fastest, says Hardeep Puri")
7.2% GDP growth is historic given the global situation: Piyush Goyal
Commenting on Morgan Stanley's report, he said it reflects India's growing global image and fast economic growth
 "7.2% GDP growth is historic given the global situation: Piyush Goyal")
Rajasthan govt plans to give a push to weekend getaways, religious tourism
The state gets 20-25 million tourists each year
 "Rajasthan govt plans to give a push to weekend getaways, religious tourism")
GST mop-up rises 12% to Rs 1.57 trillion in May despite external headwinds
Strong increase in line with GDP growth estimate in FY24, say experts
 "GST mop-up rises 12% to Rs 1.57 trillion in May despite external headwinds")