Page 880 - Economy & Policy News
Irdai allows foreign reinsurance branches, Lloyd to deport excess capital
The Insurance Regulatory and Development Authority of India (IRDAI) on Wednesday allowed foreign reinsurance branches (FRB) and Lloyd's India to repatriate excess capital
 "Irdai allows foreign reinsurance branches, Lloyd to deport excess capital")
PM Modi pitches for promotion of indigenous products, self-reliance
Prime Minister Narendra Modi emphasised on promoting indigenous products and self-reliance for prosperity, and said by adopting them, one can keep the art, culture and civilization of India alive
 "PM Modi pitches for promotion of indigenous products, self-reliance")
FM asks AIIB to scale up investments in clean energy, infrastructure
India on Wednesday asked Beijing-based multilateral lending agency AIIB to scale up investments in priority areas like clean energy and infrastructure sector with special focus on education and health
 "FM asks AIIB to scale up investments in clean energy, infrastructure")
India, China trade crosses $100 bn during Jan-Sept; deficit up at $75 bn
India and China bilateral trade continued to boom, crossing $100 billion for the second year in the first nine months of 2022 while India's trade deficit climbed to over $75 billion
 "India, China trade crosses $100 bn during Jan-Sept; deficit up at $75 bn")
Manufacturing states see dip in net new EPF subscriptions in August
Net payroll additions, which are calculated taking into account new additions, number of exits, and return of old subscribers, has grown only slightly from 1,652,818 in July to 1,694,211 in August.
 "Manufacturing states see dip in net new EPF subscriptions in August")
Spat over format of Andhra Pradesh's capital city rattles global investors
The three-capital plan proposed by the YSR Congress implies a significant shrinkage of the Amaravati project.
 "Spat over format of Andhra Pradesh's capital city rattles global investors")
Better for Indian policymakers to understand what makes oil prices move
India imports more than 85% of its crude, half of its gas, and 60% of the cooking fuel, and any uptick in rates reduces the purchasing power of Indian households, something that is called inflation
 "Better for Indian policymakers to understand what makes oil prices move")
Centre lays down 75-point climate-friendly agenda under Mission LiFE
Initiatives cover actions under seven categories--energy, water saving, single-use plastic, sustainable food systems, waste reduction (Swachhata actions), healthy lifestyle, and e-waste
 "Centre lays down 75-point climate-friendly agenda under Mission LiFE")
Housing sales in top 7 cities gain momentum, likely to breach 2014 peak
Going by the momentum of housing sales this year, 2022 is likely to breach the previous peak of 2014 with an all-time high sales across the top seven cities
 "Housing sales in top 7 cities gain momentum, likely to breach 2014 peak")
Assets worth Rs 18,400 crore attached under Benami Act till July 31: Report
Till July 31, the I-T Department had issued notices in 3,175 cases amounting to Rs 19,222 crore
 "Assets worth Rs 18,400 crore attached under Benami Act till July 31: Report")
Cash-out: Issues with direct benefit transfer's growing ambit
In-kind schemes, introduced in 2017-18, accounted for only 10.8 per cent of total benefits (cash and kind) dispensed under DBT. Today, in-kind transfers account for 60 per cent of total benefits.
 "Cash-out: Issues with direct benefit transfer's growing ambit")
Yielding little results, does govt need to review PM-AASHA scheme?
Yielding little results, does govt need to review PM-AASHA scheme?
 "Yielding little results, does govt need to review PM-AASHA scheme?")
Rupee trade with few nations may start, internationalisation will take time
Negotiations are on with Russia, Cuba and Sudan among others to do so. Officials are hopeful that Saudi Arabia, UAE and Luxembourg would also come on board
 "Rupee trade with few nations may start, internationalisation will take time")
RBI's liquidity infusion largest since April 2019 as surplus cash dries up
Lack of repo suggests RBI tolerance of higher money mkt rates: Analysts
 "RBI's liquidity infusion largest since April 2019 as surplus cash dries up")
CAG set to conduct comprehensive audit of country's health sector
Current approach to be based in common parameters, goals and analysis, as opposed to earlier exercises done on the basis of some research or state-specific issues
 "CAG set to conduct comprehensive audit of country's health sector")
Average cut-off yield spikes by 12 bps to 7.84% at state bond action
Dealers said Bengal and UP raised amounts via bonds with 15-17 year maturity and cut-off yield above 7.9%; pricing likely to remain under pressure in near term
 "Average cut-off yield spikes by 12 bps to 7.84% at state bond action")
Rupee trade with few nations may start, internationalisation will take time
Rupee trade with few nations may start, internationalisation will take time
 "Rupee trade with few nations may start, internationalisation will take time")
Hopes for India-UK FTA talks impetus with new Prime Minister Rishi Sunak
An India trade deal could be one of the most ambitious and commercially meaningful deals to the UK, said Chris Hayward, Policy Chairman at the City of London Corporation.
 "Hopes for India-UK FTA talks impetus with new Prime Minister Rishi Sunak")
Wheat procurement fell in Rabi season due to geopolitical situation: Govt
Wheat procurement as well as its minimum support price (MSP) to farmers and also number of farmers benefiting from minimum price fell in 2022-23 Rabi marketing season due to prevailing tensions
 "Wheat procurement fell in Rabi season due to geopolitical situation: Govt")
Govt, corporate bond yield spread to widen on rising supply: Analysts
The spread between Indian government bond yields and their corporate counterparts is expected to widen in the second half of this year
 "Govt, corporate bond yield spread to widen on rising supply: Analysts")