Page 701 - Economy & Policy News
India lacks talent to meet chip manufacturing requirements: Meity official
No skilled talent available to handle chip manufacturing plants in India, and there will be a requirement of 10,000-13,000 human resources to meet industry requirements by 2027, a Meity official said
 "India lacks talent to meet chip manufacturing requirements: Meity official")
Govt planning PLI 2.0 to boost production of specialty steel: Scindia
The government is planning to introduce the second edition of the PLI scheme for specialty steel to boost production of value-added steel in the country, Union Minister of Steel
 "Govt planning PLI 2.0 to boost production of specialty steel: Scindia")
Parikh panel's plan to link gas prices to global crude comes a cropper
When the suggestion was made, crude was at a huge discount to gas; but now, with the unpredictable course of fossil fuel prices playing spoilsport, govt may be forced to do a rethink
 "Parikh panel's plan to link gas prices to global crude comes a cropper")
How wheat prices moved after FCI began liquidating stocks via open tenders
Millers see CPI inflation for atta reducing more sharply going ahead, as prices have already started softening at the mill gate
 "How wheat prices moved after FCI began liquidating stocks via open tenders")
As liquidity tightens, RBI injects Rs 1 trn for largest infusion in 4 years
This is the first time since 2019 that RBI has infused more than Rs 1 trillion
 "As liquidity tightens, RBI injects Rs 1 trn for largest infusion in 4 years")
Tea exports to Russia soar 21%, belying war worries; some lost share gained
Sri Lanka crisis, sanctions on Russia that made sourcing from other countries difficult help domestic industry post better numbers
 "Tea exports to Russia soar 21%, belying war worries; some lost share gained")
OECD raises India's FY24 growth forecast by 20 basis points to 5.9%
'Will pick up to recover to about 7% in FY25'
 "OECD raises India's FY24 growth forecast by 20 basis points to 5.9%")
Direct tax collection hits 95.2% of Revised Estimates for FY23
Net collection rises 15.3% to Rs 15.72 trn as of March 16
 "Direct tax collection hits 95.2% of Revised Estimates for FY23")
PLI scheme push: Electronics is India's fastest-growing export
The government has an aggressive target for exports of electronics
 "PLI scheme push: Electronics is India's fastest-growing export")
Sebi comes out with requirement to process investors' service requests
The new framework would come into force from April 1, the Securities and Exchange Board of India (Sebi) said in a circular
 "Sebi comes out with requirement to process investors' service requests")
States' capital budgets: Spending, classification can be variable exercise
Most of the other major states, including Gujarat, Uttar Pradesh, Karnataka, Kerala, Rajasthan, Telangana and Haryana, hew close to either extreme
 "States' capital budgets: Spending, classification can be variable exercise")
'2 million new jobs to be created under PM MITRA', says Piyush Goyal
Of the 13 states that competed, seven - Tamil Nadu, Telangana, Gujarat, Karnataka, Madhya Pradesh, Uttar Pradesh, and Maharashtra - were selected
 "'2 million new jobs to be created under PM MITRA', says Piyush Goyal")
Banking system remains stable, resilient: RBI governor Shaktikanta Das
RBI governor Das cautions banks against any build-up of asset-liability mismatches
 "Banking system remains stable, resilient: RBI governor Shaktikanta Das")
Foreign exchange reserves fall $2.4 bn to over 3-month low of $560 bn
The reserves stood at $562.40 billion in the week to March 3
 "Foreign exchange reserves fall $2.4 bn to over 3-month low of $560 bn")
PM Modi's adviser says India economy can withstand heat wave impact
Even if heat waves strike again and crops get affected, overall growth should not suffer, according to Poonam Gupta, head of the National Council of Applied Economic Research
 "PM Modi's adviser says India economy can withstand heat wave impact")
G20 must give more funds to World Bank for Global South: Rockefeller's Shah
The foundation's president says COP21 Pledge of $100 bn from richer nations hasn't been met and is no longer enough
 "G20 must give more funds to World Bank for Global South: Rockefeller's Shah")
PM Modi announces PM MITRA mega textiles parks to be set up in 7 states
Prime Minister Narendra Modi on Friday announced that PM MITRA mega textile parks would be set up in Tamil Nadu, Telangana, Karnataka, Maharashtra, Gujarat, Madhya Pradesh and Uttar Pradesh
 "PM Modi announces PM MITRA mega textiles parks to be set up in 7 states")
Sebi's tough norms for FPIs: Mandatory to disclose any material changes
Capital markets regulator Sebi has made stringent norms for Foreign Portfolio Investors (FPIs), asking them to disclose any material change in their structure and common ownership
Sebi looking for ways to plug gaps allowing founders to own stock options
The Securities and Exchange Board of India (SEBI) does not want founders to own stock options if they have rights akin to those enjoyed by promoters
 "Sebi looking for ways to plug gaps allowing founders to own stock options")
Corporates hopeful for green hydrogen; may pump Rs 16 trillion in 10 years
Industry experts have said that it will take a combination of technological advancements and regulatory support to boost the cost-effectiveness and viability of green hydrogen in the country
 "Corporates hopeful for green hydrogen; may pump Rs 16 trillion in 10 years")