Page 898 - Economy & Policy News

India aims to develop tech-driven crypto regulatory framework: Sitharaman

India is aiming at developing standard operating procedures for cryptocurrency during its G20 presidency next year, Finance Minister Nirmala Sitharaman has said

PE investments in retail real estate down 63% to $303 mn in Jan-Sep: Report

Private equity investments in retail real estate space fell 63% to $303 million during January-September as investors were concerned about possible impact of high inflation on consumption

Reform to boost FDI opportunities to $475 bn in 5 years: EY-CII report

India's focus on reforms and economic growth will give rise to foreign direct investment opportunities of $475 billion in the next five years, a report said

PM Modi to launch 75 digital banking units across 75 districts today

With an objective to boost financial inclusion, Prime Minister Narendra Modi will launch 75 Digital Banking Units (DBUs) today via video conferencing.

Indian Rupee has performed much better, says FM Nirmala Sitharaman

Union Minister for Finance & Corporate Affairs Nirmala Sitharaman said that Indian Rupee has performed much better than many other emerging market currencies

Inflation 'manageable' at 7.4%, love to see it down to 4%, says Sitharaman

However, anticipating critics, Sitharaman added that the government is working to bring it down under 6% and would like to bring it down under 6% and "ideally" to 4%

Govt notifies 12% wage hike for employees of PSU general insurers

The Finance Ministry has notified an average 12 per cent wage hike for employees of four public sector general insurance companies effective from August 2017.

Centre hikes windfall tax on domestic crude oil, jet fuel and diesel export

The govt has hiked tax on domestically produced crude oil to Rs 11,000 per tonne from Rs 8,000 per tonne.

Aadhaar enrolment for newborns to be expanded to all states in few months

Aadhaar enrolment for newborns along with birth certificates is expected to be available in all states in the next few months, expanding beyond 16 states currently offering the facility

PM Modi to release funds worth Rs 16,000 cr during PM Kisan Samman Sammelan

Prime Minister Narendra Modi will inaugurate "PM Kisan Samman Sammelan 2022" on October 17 at Indian Agricultural Research Institute in the national capital

Rajasthan CM Gehlot approves Rs 35 crore for gyms, fitness centres in state

Rajasthan Chief Minister Ashok Gehlot has approved Rs 35 crore to set up state-of-the-art gyms and fitness centres at all divisional headquarter cities/towns

Major rail infra project commissioned; boost to AP coastal economy

The South Central Railway (SCR) has completed and commissioned a major 221-km rail line doubling and electrification project that could give a boost to agro and aqua economies in Andhra Pradesh

India has been a leader in digitalisation over last few years: IMF official

India has been a leader in digitalisation over the last few years and has overcome some of the administrative bottlenecks through increased innovation, a senior IMF official said

Despite global headwinds, Indian economy will stay on course: Sitharaman

The Indian economy will stay on course despite global headwinds and is projected to grow at seven per cent in fiscal 2022-23, Finance Minister Nirmala Sitharaman has said

India among very few standout performers in a world of uncertainties: FM

In a world of uncertainties, India is one of the very few standout performers, Nirmala Sitharaman said, a day after the IMF described the country as a bright spot in a global economy

India allows exports of wheat flour processed from imported grain

India has allowed export-oriented units and the firms set up in Special Economic Zones to export flour made from imported wheat, a government order said

India unlikely to be hit hard by global recession, says SBI chairman

The impact of a global recession, which is increasingly being feared by IMF and World Bank, is unlikely to be as pronounced in India as compared to other countries, SBI Chairman Dinesh Khara said

India to produce 25% of its oil demand by 2030, says Hardeep Puri

Indian petroleum industry is at the cusp of opportunity and will be able to produce 25 per cent of its crude oil demand by 2030, Union Petroleum and Urban Affairs Minister Hardeep Singh Puri said.

Bahubhashini can make education accessible to every corner: Pradhan

Pradhan further added that technology will drive the next phase of growth and development with IT and communications technology among the front runners in India

The challenge of getting India's 350-400 mn 2G users to upgrade to 4G or 5G

With India rolling out 5G services, can telcos get the sizeable 350-400 million 2G customers to upgrade to 4G, or even better - but very improbably - straight to 5G?