Page 844 - Economy & Policy News
Oil ministry to seek compensation for petrol, diesel losses from FinMin
The oil ministry will seek compensation from the finance ministry for the losses state-owned fuel retailers incurred on holding petrol and diesel prices in the last 8 months despite a spike in cost
 "Oil ministry to seek compensation for petrol, diesel losses from FinMin")
Food processing sector critical for economy, job creation: Niti Aayog CEO
Niti Aayog CEO Parameswaran Iyer Friday said the food processing sector is critical for the Indian economy as well as job creation and stressed on ramping up production and exports of processed items
 "Food processing sector critical for economy, job creation: Niti Aayog CEO")
India to continue buying oil from all countries including Russia: Official
India will continue to buy crude oil from anywhere in the world, including Russia, to meet its energy needs, a top official said ahead of EU restrictions on Russian oil kicking in
 "India to continue buying oil from all countries including Russia: Official")
Govt likely to roll back states' ability to borrow more, says report
New Delhi has already stopped compensating states for the switch to the Goods and Services Tax regime from this year
 "Govt likely to roll back states' ability to borrow more, says report")
Global economy must start bracing for low inflation, says Raghuram Rajan
Central banks must ask themselves if their policies were nimble enough when inflation shifted from low to a high regime, said Rajan
 "Global economy must start bracing for low inflation, says Raghuram Rajan")
Rail passenger revenue zooms 76% YoY, speeds past pre-Covid levels
Unreserved tickets garner 422% more; bookings still 72% of pre-pandemic period
 "Rail passenger revenue zooms 76% YoY, speeds past pre-Covid levels")
Indian Railways seeks quicker land acquisition for stalled projects
Zonal Railways asked to designate more works as special projects for quicker clearance
 "Indian Railways seeks quicker land acquisition for stalled projects")
States to set up district-wise price monitoring centre for essential items
A senior government official indicated that the Center is making every effort to manage the prices of basic commodities through the Price Monitoring Division
 "States to set up district-wise price monitoring centre for essential items")
Nafed buys 24,000 tonnes moong so far under price support scheme
PSS, which is under the Agriculture Ministry, is operationalised only when prices of agri-produce fall below the minimum support price (MSP)
 "Nafed buys 24,000 tonnes moong so far under price support scheme")
Centre tells fertiliser companies, states to promote Nano urea use
At present, the capacity of Nano urea is 50 million bottles per year
 "Centre tells fertiliser companies, states to promote Nano urea use")
Steady pace: Wheat acreage rises 5.4% due to favourable prices
Highest week-on-week numbers since 2017-18; hopes of strong harvest
 "Steady pace: Wheat acreage rises 5.4% due to favourable prices")
MOIL registers growth of 60% during month over Oct: Steel ministry
State-owned miner MOIL produced 1.2 lakh tonne of manganese ore last month, registering a growth of 60 per cent over October
 "MOIL registers growth of 60% during month over Oct: Steel ministry")
UP to uplift nursing, medical institutions quality under 'Mission Niramaya'
Aimed at improving healthcare services in UP under 'Mission Niramaya', as many as 12 institutes have signed a MoU with the State Medical Faculty to mentor nursing and paramedical education
 "UP to uplift nursing, medical institutions quality under 'Mission Niramaya'")
UP becoming top choice of investors due to safe environment: CM Adityanath
CM Yogi Adityanath on Friday claimed that under the BJP rule, Uttar Pradesh has transformed into a "safe" and "riot-free" state, and is set to become the first choice of investors
 "UP becoming top choice of investors due to safe environment: CM Adityanath")
Coal production for April-Nov period up 17% to touch 524mn tonnes
Domestic coal production went up by 17.13% to 524.20 million tonnes during April-November 2022 as compared 447.54 million tonnes of production recorded during the corresponding period of last year
 "Coal production for April-Nov period up 17% to touch 524mn tonnes")
Wheat sowing up 5.36% in first two months of rabi season, shows data
Area sown to wheat has increased by 5.36 per cent annually to 211.62 lakh hectares in the first two months of the ongoing rabi (winter) season, with higher coverage being reported in Rajasthan, Bihar
 "Wheat sowing up 5.36% in first two months of rabi season, shows data")
India extends deadline to levy cap on digital payment transactions
India has decided to extend the deadline on capping the share of digital payment transactions by about two years to Dec. 31, 2024, the National Payments Corporation of India (NPCI) said on Friday
 "India extends deadline to levy cap on digital payment transactions")
Dollar slips to 5-month low, yuan set for biggest weekly gain since 2005
The dollar index, which measures the currency against six major peers including the yen and euro, fell 0.2% to 104.47, having earlier touched its lowest level since June 29 at 104.36
 "Dollar slips to 5-month low, yuan set for biggest weekly gain since 2005")
India's forex reserves rise for third straight week to $550.14 billion
India's foreign exchange reserves rose for the third straight week, to $550.14 billion in the week through November 25, RB) weekly statistical supplement showed on Friday
 "India's forex reserves rise for third straight week to $550.14 billion")
Bank credit grows nearly 17% for fortnight ended Nov 18, says RBI
Indian banking system's outstanding credit grew by 16.96 per cent for the fortnight ended November 18, the Reserve Bank said on Friday
 "Bank credit grows nearly 17% for fortnight ended Nov 18, says RBI")