Page 899 - Economy & Policy News
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.
 "India to produce 25% of its oil demand by 2030, says Hardeep Puri")
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
 "Bahubhashini can make education accessible to every corner: Pradhan")
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?
 "The challenge of getting India's 350-400 mn 2G users to upgrade to 4G or 5G")
Exports up 4.8% to $35.45 billion days after initial data showed a dip
The World Trade Organization (WTO) has also painted a grim picture for the outlook of global trade next year amid fears of a recession
 "Exports up 4.8% to $35.45 billion days after initial data showed a dip")
Mustard gains in initial rabi sowing, markets bullish on wheat
Wheat is usually sown in around 31 million hectares, mostly in the northern belt
 "Mustard gains in initial rabi sowing, markets bullish on wheat")
WPI inflation eases to 18-month low of 10.7% as pricing pressure softens
The data released on Wednesday showed CPI-based inflation again shot up to 7.6 per cent in September, up from 7 per cent in August
 "WPI inflation eases to 18-month low of 10.7% as pricing pressure softens")
FM Sitharaman offers open source network India Stack to other countries
Separately on Thursday, at the G-20 meeting, Sitharaman called on her counterparts to work together from the current geopolitical risks from worsening
 "FM Sitharaman offers open source network India Stack to other countries")
ONDC to start outreach programme to help sellers speed up their business
The first event of the programme will be an introductory session in Delhi NCR for restaurants, food entrepreneurs and cloud kitchens, on Oct 17
 "ONDC to start outreach programme to help sellers speed up their business")
India opposes group consultation on food subsidies programme at WTO
The members had expressed concern with India's "lack of full transparency" in taking recourse to the Bali Decision as well as in replies to certain questions raised in the Agri Committee
 "India opposes group consultation on food subsidies programme at WTO")
Import of thermal coal to stop by 2024-25, assures Pralhad Joshi
Union coal minister Pralhad Joshi on Friday said that the country will stop import of thermal coal by 2024-25
 "Import of thermal coal to stop by 2024-25, assures Pralhad Joshi")
Use dollar-denominated forex reserves wisely, IMF urges emerging economies
Asks these economies to reinstate swap lines with advanced economy central banks
 "Use dollar-denominated forex reserves wisely, IMF urges emerging economies")
Exports rise 4.82% to $35.45 bn in Sept; trade deficit widens to $25.71 bn
Imports during the month under review increased by 8.66 per cent to $61.61 billion
 "Exports rise 4.82% to $35.45 bn in Sept; trade deficit widens to $25.71 bn")
BIS should help facilitate zero defect, zero effect policy: Piyush Goyal
Hopes bureau will emerge as a global player and pioneer in standardisation, says standards are the new patents and those who control them, control markets, prices, manufacturing and innovations
 "BIS should help facilitate zero defect, zero effect policy: Piyush Goyal")
India to be among fastest growing economies despite global challenges: RBI
India is expected to be among the fastest growing major economies this fiscal, geopolitical turbulence notwithstanding, RBI Governor Shaktikanta Das opined at last month's meeting
 "India to be among fastest growing economies despite global challenges: RBI")
RBI's repo rate hike was necessary to combat inflation risks: MPC minutes
The MPC is of the view that further calibrated monetary policy action is warranted to keep inflation expectations anchored
 "RBI's repo rate hike was necessary to combat inflation risks: MPC minutes")
India will do all that is required to ensure energy security: Hardeep Puri
It was decided to cut oil production by 2 million barrels per day starting in November
India pushes oil refiners to diversify imports after surprise OPEC+ cuts
As the world's third largest consumer and importer of oil, India buys about 85% of its needs from overseas, while its energy demands are set to rise to power its economic expansion
 "India pushes oil refiners to diversify imports after surprise OPEC+ cuts")
Wholesale inflation eases to 10.7% in September from 12.41% in August
Inflation in September, 2022 is primarily contributed by rise in prices of mineral oils, food articles, crude petroleum & natural gas
 "Wholesale inflation eases to 10.7% in September from 12.41% in August")
FCI foodgrains stock down by 37% from last year; yet higher than buffer
Centre's foodgrains stock managed by the Food Corporation of India remains 66% higher than the buffer norm
 "FCI foodgrains stock down by 37% from last year; yet higher than buffer")
Sugar producers sign deals in 'golden opportunity' on tight global market
Mills in India, which vies with Brazil as the world's top sugar producer, have so far contracted to export about 1.2 million tons and aim to ship as much as 8 million tons in the 2022-23 year
 "Sugar producers sign deals in 'golden opportunity' on tight global market")