Page 707 - Economy & Policy News

Domestic passenger traffic estimated to rise by 54% YoY in Feb: ICRA

Daily departures averaged 2,967, up from 2,044 in February 2022 and 2,900 in January 2023, but down from 3,137 in February 2020

MSME competitive scheme part of efforts to strengthen sector: PM Modi

Under the revamped scheme, the Centre's contribution will be 90 per cent of the implementation cost for hand holding and consultancy fees as against 80 per cent previously

Russia remains India's main arms supplier but imports dip sharply

India has been the world's largest arms importer since 1993 and "tensions with Pakistan and China largely drive its demand for arms imports," the report added

Duty-free sunflower oil imports from Black Sea set to drop this year

India, the world's biggest vegetable oil importer, buys sunflower oil from the Black Sea region, which accounts for 60% of the world's sunflower oil output and 76% of exports

Retail inflation above 6% in February, may trigger another rate hike

CPI inflation has remained above RBI's tolerance level in 12 of the past 14 months

Manufacturing output in IIP still shows weakness as headline numbers grow

One reason for decline is muted domestic demand, particularly in rural areas due to high inflation

India, US, and Japan talk greater cooperation on 5G, telecom stacks

Telecom Minister Ashwani Vaishnaw's met with senior government figures from Japan, US over the weekend

Electric two-wheeler companies pencil in slow sales growth for FY24

For FY23, SMEV's projection was close to that of the government as it expected sales to be over 1 million

Meity forms task force to draft roadmap for IndiaAI ecosystem by April end

The Ministry of Electronics and IT on Monday set up a task force for framing a draft roadmap for the artificial intelligence ecosystem by end of April

Domestic air passenger traffic projected at 11.9 million in Feb: Icra

Domestic air passenger traffic is projected to have touched around 11.9 million in February, only about 4 per cent lower compared to pre-Covid levels, rating agency Icra said on Monday

Inflation and business pressure weigh on India Inc growth, says S&P

Along with Brazil and Japan, the S&P Global India business activity net balance slipped to 21 per cent in January

India's exports to cross $750 billion this fiscal, says Piyush Goyal

The country's goods and services exports are marching ahead to cross $750 bn in the current financial year and talks for expanding rupee trade with certain countries are at an advanced stage

India's manufacturing growth to continue in Q4, says Ficci survey

The responses have been drawn from over 400 manufacturing units from both large and SME segments with a combined annual turnover of over Rs 10 trillion

Mandaviya seeks report from Kerala govt on Brahmapuram plant fire

Union Health Minister Mansukh Mandaviya on Monday sought a report from the Kerala government on a fire that broke out at the Brahmapuram waste treatment plant in Kochi over 10 days ago

Govt will take a call on who can access Indian datasets, says MoS IT

The meeting discussed the possible incentives that can be given to the private sector to open the non-personal datasets held by them

Ensure airlines do not practice predatory pricing: Parl panel tells govt

A Parliamentary panel on Monday asked the civil aviation ministry to cap the upper and lower levels of airfares, and ensure that predatory pricing mechanism is not adopted by the airlines

Ownership rights of 123 Waqf Board properties rest with Centre: Puri

Days after absolving the Delhi Waqf Board from all matters pertaining to 123 properties, including mosques, dargahs, and graveyards, the Union Housing Ministry said the ownership vests with Centre

Fiscal slippage in FY23 likely as govt seeks to spend Rs 1.5 trillion more

The additional spending demands are led by fertiliser subsidy, defence pensions, allocation for Universal Service Obligation Fund (USOF) and GST compensation to states and UTs

State-owned IREDA gets Infrastructure Finance Company status from RBI

State-owned IREDA on Monday said it has received Infrastructure Finance Company status from the Reserve Bank of India

Domestic aluminum players need to invest to meet net zero target: ICRA

Domestic aluminium players would need to increase their renewable energy or low carbon-intensive power sources to meet their ambitious targets of 25% reduction in carbon emissions in the next 5-7 year