Page 890 - Economy & Policy News

Sanjay Malhotra succeeds Bajaj as revenue secy; Giridhar named defence secy

Malhotra will take over as secretary, Department of Revenue, after Tarun Bajaj completes his term on November 30

PM-Kisan scheme benefit discontinued for over 1.5 mn farmers in Jharkhand

The financial benefit under Pradhan Mantri Kisan Samman Nidhi (PM-Kisan) has been discontinued for over 1.5 million people in Jharkhand as they fail to provide the necessary documents

India's economic growth outlook stagnates, stuck in lower gear: Report

India's economy will grow well below its potential over the next two years, with inflation staying above the mid-point of the RBI's tolerance band, according to a Reuters poll

Indian industry ready to catch momentum of country's growth: Ficci official

The Indian industry is ready to catch the momentum of the country's growth story and be a part of its march to 2047 to become a developed nation, a top industrialist has said.

Number of petrol pumps selling biofuels jumped threefold in 5 years: Puri

Hardeep S Puri said that the number of petrol pumps selling biofuels has increased threefold from 29,897 in 2016-17 to 67,641 in 2021-22

PSU dividend targets may be missed due to impact on oil industry

The budget estimate for dividends from PSUs is Rs 40,000 crore. So far, the centre has garnered Rs 15,766 crore. Even with such healthy receipts so far, a shortfall is expected

India trade deal matters more than date, says UK trade minister

The Diwali timeline for a draft FTA had been announced by former British Prime Minister Boris Johnson during his meeting with Prime Minister Narendra Modi in New Delhi in April

MeitY gets legal dept approval for govt-backed GACs in IT rules

The entire process, from the filing of an appeal to taking a decision, will be concluded online

Penalties on OYO, MakeMyTrip, GoIbibo big win for hospitality sector: FHRAI

With the penalties of Rs 223.48 crores and Rs 168.88 crores on MMT-Go and OYO for anti-competitive conduct, the FHRAI described it as "one of the biggest wins for the hospitality industry"

Finance ministry releases Rs 1,764-cr grant to four states for MPC/UAs

The finance ministry on Wednesday released Rs 1,764 crore grant to four states

MGS, Light Tank, WhaP: DRDO presents 3 'Make in India' successes at DefExpo

The DRDO has chosen Larsen & Toubro as a "design cum production partner"

After wheat, iron ore, Railways raises wagon registration fee for all goods

Moreover, the charge for booking an entire rake, or goods train, has been revised to Rs 1,00,000 from the earlier Rs 50,000

PSU general insurer employees irked with move to link pay with performance

Experts say the government's decision to link wage revision with performance could have been pivoted on the financial health of the four public-sector insurers

GST Council to meet before mid-Nov; GoM report on tax casinos on agenda

The GST Council is likely to meet in the first half of November to discuss the reports of the panel of ministers on setting up GST appellate tribunal and levy of tax casinos and online gaming

Tussle over secrecy delays trade data compilation by Commerce Dept: Sources

The development comes in the backdrop of India's merchandise exports witnessing 4.8 per cent year-on-year rise to $35.45 billion in September

India to examine Russia oil price cap as refiners line up Dec crude buys

India has emerged as Russia's second biggest oil client after China as some western entities shunned purchases form Moscow following its late February invasion of Ukraine

Inflation to fall below 6% next year amid RBI rate hikes: Ashima Goyal

RBI MPC member Ashima Goyal said that the efforts of the Reserve Bank to contain price rise by increasing interest rates will help in containing inflation, which is likely to fall below 6 next year

MSMEs can continue to avail non-tax benefits post re-classification: Govt

Micro, small and medium enterprises will continue to avail all non-tax benefits in their respective categories post re-classification for three years, the government said on Wednesday

5G service will take education system to next level: PM Narendra Modi

Prime Minister Narendra Modi on Wednesday said the recently launched 5G telecom service will take the education system to the next level in the country

Risk to India's sovereign rating from external pressures limited: Fitch

Country relatively insulated from volatility due to limited reliance on external financing, says rating agency