Page 901 - Economy & Policy News
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")
India festival spending booms despite inflation worries, global slowdown
Online and offline sales during the Hindu festival period starting in the last week of September and lasting until early November are estimated to cross $27 billion
 "India festival spending booms despite inflation worries, global slowdown")
Shriram Group likely to submit EoI for privatisation of IDBI Bank
Entry of Shriram Group as a bidder, could set the stage for at least a two-way contest for IDBI Bank with Prem Watsa's Fairfax Financial also believed to be a contender
 "Shriram Group likely to submit EoI for privatisation of IDBI Bank")
India briefs G20 FMs, central bank governors on its 2023 presidency agenda
India on Thursday briefed the finance ministers and central bank governors of G-20 countries about its agenda for the next year when it assumes the rotating annual presidency of the grouping
 "India briefs G20 FMs, central bank governors on its 2023 presidency agenda")
Coal India subsidiaries need to achieve annual targets: Pralhad Joshi
Union Coal Minister Pralhad Joshi on Thursday said to meet the coal requirements of the country, it is necessary that all subsidiaries of Coal India Ltd (CIL) achieve their annual targets
 "Coal India subsidiaries need to achieve annual targets: Pralhad Joshi")
India has set global benchmarks; economic revival on sustained path: FM
Union Finance Minister Nirmala Sitharaman said that India is setting the global benchmarks on the digital front and that it will be able to face geopolitical and economic uncertainties
 "India has set global benchmarks; economic revival on sustained path: FM")
What is low base effect?
India's GDP growth fell in the negative zone in 2020. The next year, growth numbers threw a surprise. The sudden jump in GDP growth was due to the previous year's low base. Let's know more about it
 "What is low base effect?")
Are RBI's hands tied when it comes to inflation?
Consumer inflation accelerated to five-month high in September. As retail inflation stayed above the upper limit of 2-6% band for the third straight quarter, we ask what the RBI can do to calm prices
 "Are RBI's hands tied when it comes to inflation?")
In a historic first, forest dwellers get land deeds in Chhattisgarh
The development will facilitate villagers in getting benefits of welfare schemes of the Central and state governments
 "In a historic first, forest dwellers get land deeds in Chhattisgarh")
Intensive negotiations ongoing for Diwali trade pact with India, says UK
Officials said that both countries continue to negotiate a high-ambition free trade agreement that could boost the UK economy by more than GBP 3 billion by 2035
 "Intensive negotiations ongoing for Diwali trade pact with India, says UK")
Centre to soon launch 600 Kisan Samriddhi Kendras to benefit farmers
Fertilizer shops to act as one-stop solution provider for all need of growers
 "Centre to soon launch 600 Kisan Samriddhi Kendras to benefit farmers")
MGNREGA improved earnings during Covid-19, but more funding needed: Report
According to the 'Employment Guarantee during Covid-19' report, the spending on the MGNREGA needs to go up by three times
 "MGNREGA improved earnings during Covid-19, but more funding needed: Report")
The process involved in preparing the Union Budget: An explainer
All of this culminates on February 1, when the Cabinet approves the budget, the Finance Minister presents it to the President, then proceeds to Lok Sabha, where she rises at 11 am to begin her speech
 "The process involved in preparing the Union Budget: An explainer")
Maharashtra to come out with a policy for data centres in a month: Official
"This government will provide an adequate, optimal policy for data centres, which is beneficial to the citizens and enables the entrepreneurs and the ecosystem," the official said.
 "Maharashtra to come out with a policy for data centres in a month: Official")
Govt to offer aid to set up paddy straw pelletisation, torrefaction plants
With supplemental efforts by other stakeholders, the guidelines are expected to enhance paddy straw utilisation in power plants and industries
 "Govt to offer aid to set up paddy straw pelletisation, torrefaction plants")
India to become world's third-largest economy by FY28, says IMF
Projected to grow bigger than Japan at $5.36 trillion
 "India to become world's third-largest economy by FY28, says IMF")
13 states can incur capex worth Rs 7.4 trillion in FY23: ICRA report
Spending space available without pressure to their fiscal profile, says agency
 "13 states can incur capex worth Rs 7.4 trillion in FY23: ICRA report")