Page 850 - Economy & Policy News
S&P Global Ratings lowers India's FY23 GDP growth forecast to 7%
Says domestic demand recovery will support growth
 "S&P Global Ratings lowers India's FY23 GDP growth forecast to 7%")
Cut in tax, schemes to generate jobs among demands in pre-Budget meet
Sitharaman held eight rounds of discussions starting with India Inc on November 21 and ending with a round of consultation with economists on Monday
 "Cut in tax, schemes to generate jobs among demands in pre-Budget meet")
Farmer groups demand end to GM mustard trials; write to PM Narendra Modi
Activists claims Centre misleading SC on GM mustard
 "Farmer groups demand end to GM mustard trials; write to PM Narendra Modi")
Uttar Pradesh govt asks commercial banks to step up credit flow
The UP government has said unless the credit flow is equitable across the different regions, the goal of a $1-trillion economy would remain elusive
 "Uttar Pradesh govt asks commercial banks to step up credit flow")
Power Min launches schemes to procure 4,500 MW electricity supply for 5 yrs
Power Ministry launch a scheme for the procurement of aggregate electricity of 4,500 MW for five years under of the SHAKTI (Scheme for Harnessing and Allocating Koyala Transparently in India) policy
 "Power Min launches schemes to procure 4,500 MW electricity supply for 5 yrs")
PowerMin invites bids to supply 4.5 Gw electricity during coming summer
Power to be supplied for five years, qualifying gencos to get coal under SHAKTI scheme
 "PowerMin invites bids to supply 4.5 Gw electricity during coming summer")
Sebi revises framework for approving changes in control of stock brokers
Sebi has put in place a revised framework for seeking its prior approval for changes in control of stock brokers, depository participants and other market intermediaries
 "Sebi revises framework for approving changes in control of stock brokers")
Passenger vehicle makers to invest Rs 65,000 crore by FY25: Report
Passenger vehicle makers are expected to invest around Rs 65,000 crore by FY25 to ramp up production capacities to cater to enhanced demand, rating agency Icra said on Monday
 "Passenger vehicle makers to invest Rs 65,000 crore by FY25: Report")
Govt's paddy procurement up 9% at 306 lakh tonnes so far this year
The government's paddy procurement for the central pool rose over nine per cent to 306.06 lakh tonnes so far in the ongoing 2022-23 kharif marketing season, according to the food ministry data.
 "Govt's paddy procurement up 9% at 306 lakh tonnes so far this year")
Festivals boost credit card spends to record high of Rs 1.29 trillion
On a year-on-year (YoY) basis, spends were up over 25 per cent, despite a high base
 "Festivals boost credit card spends to record high of Rs 1.29 trillion")
3,600 kg of ration rice diverted to open market in Tamil Nadu's Villuparam
The Villupuram police on Monday arrested a truck driver for transporting 3,600 kg of rice meant for public distribution through ration shops to the open market
 "3,600 kg of ration rice diverted to open market in Tamil Nadu's Villuparam")
Slower annual economic growth will be good for India, for now: Economists
India's annual economic growth is forecast to slow to about 6% for a few years, according to economists from Goldman Sachs Group Inc. and Barclays Plc.. And they say that's not such a bad thing
 "Slower annual economic growth will be good for India, for now: Economists")
Handicraft far superior than machine-made products, exports rising: Goyal
Piyush Goyal said that the country's handicraft exports have been rising steadily and were far superior than any machine-made products
 "Handicraft far superior than machine-made products, exports rising: Goyal")
S&P Global Ratings cuts India's economic growth forecast to 7% for FY23
S&P Global Ratings cut India's economic growth forecast for current fiscal year to 7 per cent, but said the domestic demand-led economy will be less impacted by the global slowdown
 "S&P Global Ratings cuts India's economic growth forecast to 7% for FY23")
Japan trade body praises PM Gati Shakti plan as a 'game changer' for biz
PM Gati Shakti focusing on easing logistics will be a game changer for businesses and will attract foreign investments, Kazuya Nakajo, Executive Vice President, Japan External Trade Organisation said
 "Japan trade body praises PM Gati Shakti plan as a 'game changer' for biz")
I-T dept sends notices to firms to enquire about their foreign assets
The Income Tax department's intelligence unit has sent notices to at least eight firms in Mumbai and has also asked for information on their directors
 "I-T dept sends notices to firms to enquire about their foreign assets")
Centre confident of meeting fiscal deficit target for FY23: Report
Centre expects the gross tax revenue to be "at least" Rs 3-3.5 trillion above the FY23 target of Rs 27.6 trillion
 "Centre confident of meeting fiscal deficit target for FY23: Report")
India's economy likely slowed to annual 6.2% in July-Sept qtr: Poll
In April-June, Indian economy showed explosive growth of 13.5% from a year
 "India's economy likely slowed to annual 6.2% in July-Sept qtr: Poll")
Liberal eligibility key criteria in largest commercial coal mines auction
The Centre is hoping to entice interest from a variety of sectors beyond the core infrastructure
 "Liberal eligibility key criteria in largest commercial coal mines auction")
China plus one: Low labour costs and growing workforce give India the edge
A large and abundant workforce also gives it an edge against South East Asian rivals
 "China plus one: Low labour costs and growing workforce give India the edge")