Page 703 - Economy & Policy News
India's edible oil imports up 12% to 1.098 million tonnes in February
India's edible oil imports rose 12 per cent year-on-year in February to 10.98 lakh tonnes on higher imports of crude palm oil, according to industry body SEA
 "India's edible oil imports up 12% to 1.098 million tonnes in February")
Despite SVB-triggered turmoil, European central banks hint rate hike
The European Central Bank is still leaning towards a half-percentage-point rate hike on Thursday, despite turmoil in the banking sector, given high inflation
 "Despite SVB-triggered turmoil, European central banks hint rate hike")
Only 22% of candidates trained under PMKVY found a job, shows data
The government has allocated Rs 11,880.5 crore under PMKVY since 2015
 "Only 22% of candidates trained under PMKVY found a job, shows data")
Indian exports dip for third consecutive month by 8.8% to $33.88 bn in Feb
India's exports dipped in February for the third consecutive month by 8.8 per cent to $33.88 billion against $37.15 billion in the same month last year, according to the data by commerce ministry
 "Indian exports dip for third consecutive month by 8.8% to $33.88 bn in Feb")
Oil prices recoup losses after OPEC upgrades China demand outlook
The Organization of the Petroleum Exporting Countries (OPEC on Tuesday further raised its forecast for Chinese oil demand growth in 2023 due to the relaxation of the country's COVID-19 curbs
 "Oil prices recoup losses after OPEC upgrades China demand outlook")
India likely to keep April-Sept borrowing under 60% of FY24 goal: Report
India aims to raise 15.43 trillion rupees ($187.18 billion) from the market in the financial year starting April 1, higher than the 14.21 trillion rupees it raised this year
 "India likely to keep April-Sept borrowing under 60% of FY24 goal: Report")
As cost of capital rises, VC funding for new-age firms drops to $26 bn
The global economic downturn has made investors reconsider their commitments towards the deployment of capital into new-age firms
 "As cost of capital rises, VC funding for new-age firms drops to $26 bn")
Top headlines: FPIs seek six more mths from FinMin, 1st India chip fab soon
Business Standard brings you the top headlines at this hour
 "Top headlines: FPIs seek six more mths from FinMin, 1st India chip fab soon")
Monthly old-age pension coverage increased to Rs 1500: Uttarakhand CM Dhami
"The state government is working to provide employment to our youth while also providing better healthcare to the general public," the chief minister added
 "Monthly old-age pension coverage increased to Rs 1500: Uttarakhand CM Dhami")
National highway construction in February at 42 km/day, highest in FY23
National highway development near FY22 levels, but likely to miss target
 "National highway construction in February at 42 km/day, highest in FY23")
First India chip fab to be announced in a few weeks: Ashwini Vaishnaw
The government had announced a $10 billion package to incentivise the manufacturing of chips in India in December 2021
 "First India chip fab to be announced in a few weeks: Ashwini Vaishnaw")
Ukraine war: Is India complying with the Russian crude oil price cap?
Uncertainty about how much India pays is part of the murkiness around Russian oil flows more generally, as the trade shifts from the Atlantic basin to Asia and from large traders to smaller entities
 "Ukraine war: Is India complying with the Russian crude oil price cap?")
Hiring intentions to remain marginally low in Apr-Jun quarter: Survey
Hiring intentions will remain marginally lower during the second quarter (April-June) this year as employers continue to have difficulty in finding people with the right skills, according to a survey
Govt to form high-level committee to fast-track infra along China border
The government on Tuesday decided to set up a committee of secretaries to fast-track implementation of infrastructure projects along the border with China
 "Govt to form high-level committee to fast-track infra along China border")
Not in favour of setting up Fiscal Council, Centre tells Rajya Sabha
The central government on Tuesday informed the Rajya Sabha said that it is not in favour of setting up a Fiscal Council as was suggested by the different Finance Commissions.
 "Not in favour of setting up Fiscal Council, Centre tells Rajya Sabha")
Too early to speak on impact of high temp on wheat crop: Agriculture Min
Union Agriculture Minister Narendra Singh Tomar said there has not been any effect seen so far on wheat crop due to high temperatures and it will be too early to say about the likely impact
 "Too early to speak on impact of high temp on wheat crop: Agriculture Min")
External situation worsens as India aims to grow 6-6.8% in FY24
India may have to hugely rely on domestic consumption to drive growth as the external environment as cited above is facing a slowdown
 "External situation worsens as India aims to grow 6-6.8% in FY24")
India-European Union trade council's first ministerial meet by June
Last month, both sides constituted three trade working groups under the council that will cover key issues, such as strategic technologies, digital governance, connectivity and trade
 "India-European Union trade council's first ministerial meet by June")
WPI inflation eases to 25-month low in Feb as manufacturing prices cool
Inflation for manufactured items eased to 1.94% in Feb from 2.99% in Jan
 "WPI inflation eases to 25-month low in Feb as manufacturing prices cool")
Searing summer on the cards, all eyes on reservoirs, grain storage
Reservoir levels lower than last year but higher than 10-yr average; ample elbow room in grain storage for now
 "Searing summer on the cards, all eyes on reservoirs, grain storage")