Page 788 - Economy & Policy News
Govt mulls lifting rice export curbs as supply improves, prices stabilise
India imposed a 20% duty on shipments of white and brown rice in September and banned broken rice sales abroad
 "Govt mulls lifting rice export curbs as supply improves, prices stabilise")
BIS publishes standards for USB Type C receptacles, digital TV receivers
India has set March 2025 deadline to have common charging port in all electronic devices
 "BIS publishes standards for USB Type C receptacles, digital TV receivers")
UPI, Singapore's PayNow integration anytime soon: Official at G20 meet
Singapore already has such a tie-up with Indonesia's PromPay to facilitate seamless cross-border transfers
 "UPI, Singapore's PayNow integration anytime soon: Official at G20 meet")
Free food scheme moderated income inequality in many states: Report
Free food distribution of cereals during the pandemic has starkly reduced income inequality across laggard states and those at the bottom of the pyramid, according to a report
 "Free food scheme moderated income inequality in many states: Report")
Budget to be fiscally prudent without losing growth focus: DBS economist
DBS Bank expects the government to target a fiscal deficit of 5.8-5.9% of gross domestic product (GDP) in 2023/24 as against the 6.4% outlined for this financial year ending on March 31
 "Budget to be fiscally prudent without losing growth focus: DBS economist")
India's thermal coal imports up nearly 15% in 2022, says Coalmint
Indian imports of petcoke, mostly used by cement plants, doubled to 9.77 million tonnes in 2022 as they were cheaper compared with coal, whose prices hit record highs following Russia's invasion
 "India's thermal coal imports up nearly 15% in 2022, says Coalmint")
Credit worthiness of India, others in APAC to be stable, says Moody's
Most sovereigns have begun fiscal consolidation, but social pressures are slowing progress
 "Credit worthiness of India, others in APAC to be stable, says Moody's")
India, Bangladesh unlikely to cut subsidy bill as elections near: Moody's
Average fiscal deficit to be 4% of GDP in 2023, says agency's Sovereigns--Asia-Pacific report
 "India, Bangladesh unlikely to cut subsidy bill as elections near: Moody's")
Bank customers scramble to renew agreement as new locker rules kick in
People have also complained about the divergence in the value of the stamp paper required for agreement renewal
 "Bank customers scramble to renew agreement as new locker rules kick in")
Govt considering textile duty structure rejig in Union Budget: Report
The industry says a slowdown in exports of cotton yarn due to weakening global demand has tied their hands
 "Govt considering textile duty structure rejig in Union Budget: Report")
Private jets to jewellery: Customs duty to be hiked on 35 items in Budget
The government has also issued quality control orders to curb the imports of these non-essential items
 "Private jets to jewellery: Customs duty to be hiked on 35 items in Budget")
Economists peg India's FY24 growth at 6% after advance estimates
Say expectations of easing inflation levels, good rabi output will be supportive of domestic demand
 "Economists peg India's FY24 growth at 6% after advance estimates")
Financial inclusion, remittance cost focus areas in G20 meeting
In Kolkata, apart from the plenary meetings, there would be a symposium that would see participation of 12 international speakers
 "Financial inclusion, remittance cost focus areas in G20 meeting")
DPIIT working on policy for auction of salt land to private players
The Department for Promotion of Industry and Internal Trade (DPIIT) is working on formulating a policy for auction of salt land to private players, sources said
 "DPIIT working on policy for auction of salt land to private players")
Govt engaging with diff layers to ensure EoDB aid reach ground level: FM
Finance Minister on Sunday said the central government is engaging with states and local administrations to ensure that benefits of Ease of Doing Business (EoDB) initiatives reach the ground
 "Govt engaging with diff layers to ensure EoDB aid reach ground level: FM")
Urgent action needed to dilute risk of downturn, says World Bank
Even without another crisis, global growth this year "is expected to decelerate sharply" the World Bank said
 "Urgent action needed to dilute risk of downturn, says World Bank")
Remittance cost for workers outside India may drop to 3% by 2027: Official
G20 leaders have attached a lot of importance to the high remittance cost for workers outside India, and efforts are underway to bring the rate down to an average of 3% by 2027, a top official said
 "Remittance cost for workers outside India may drop to 3% by 2027: Official")
Centre creating ecosystem to benefit each of 140 crore Indians: NCGG chief
The Centre is creating an ecosystem where each of 140 crore Indians can take benefit of government policies, chief of National Centre for Good Governance (NCGG) Bharat Lal said on Sunday
 "Centre creating ecosystem to benefit each of 140 crore Indians: NCGG chief")
Huge potential to boost exports of processed food: Trade Promotion Council
India's agri exports are growing at a healthy pace and there is a need to focus on the processed food sector as it holds huge potential to boost the country's outbound shipments, TPCI said on Sunday
 "Huge potential to boost exports of processed food: Trade Promotion Council")
Statsguru: Opening door to foreign universities to set up campuses in India
Student numbers have grown meanwhile, with over 9.4 million students completing their studies annually
 "Statsguru: Opening door to foreign universities to set up campuses in India")