Page 926 - Economy & Policy News

Indians optimistic on growth outlook amid high inflation: EY study

They are shifting to new brands in search for value, says multi-nation survey

India Inc's FY22 capex rises 9.1% YoY but lags pre-Covid growth

The rise in corporate assets, also called gross block, was largely led by top companies and industry leaders; small and medium firms lagged in capex terms

Maharashtra set to produce record sugar levels in new crop season

Higher production will weigh on local prices and may prompt New Delhi to allow sugar exports in the 2022/23 marketing year starting from Oct. 1. Indian exports could weigh on global sugar prices.

IFC MD Diop meets FM Sitharaman, discusses lending opportunities in India

She reiterated India's expectation of a rise in IFC's lending to India to $2-2.5 billion in the next 1-2 years and $3-3.5 billion in next 3-4 years, the finance ministry said in a series of tweets

Enough wheat stock in India; govt to keep check on hoarders: Food Secy

The government said there is sufficient wheat stock in the country and that it will take action against hoarders, if needed, to boost domestic supply

Ethanol purchase price may be hiked by up to Rs 2 per litre next year

Some officials feel increase should be limited to Rs 2 per litre

Centre to relax rules, fast-track new measures for oil & gas exploration

More processes to be brought under the self-certification framework while clearance portal is being upgraded

After Russian flows dry up, India pays up to double price for gas

GAIL India Ltd. bought several LNG cargoes for delivery between October and November at more than double the price it paid around this time last year.

UP's new tourism policy likely to attract Rs 10K-crore investments

Moreover, the Yogi Adityanath government has launched a campaign to promote rural tourism to boost rural income and integrate the countryside in the state's tourism blueprint

India to push big for multilateral reforms of WTO, IMF as G20 Chair

Focus will also be on climate justice, green financing

Centre to meet Naga leaders on Tuesday, kick-start peace talks

Nagaland has always been a battleground for the 35 Naga tribes

India Ratings revises FY23 bank credit growth estimates to 13% from 10%

The pressure on hiking interest rates on deposits is likely to intensify. However, the decline in credit could offset an increase in deposit costs

India's Aug crude imports fall 13% on monthly basis on monsoon demand lull

Crude imports last month fell to 17.55 mn tons from July, data from Petroleum Planning and Analysis Cell showed. But, imports in August were up 0.9%, compared with corresponding period last year

New amendments to bankruptcy code look to boost returns of stressed assets

IBBI had invited comments from the stakeholders to suggest if parts of stressed assets could be sold off instead of as a whole

India spending forex reserves at quicker pace than during taper tantrum

The Reserve Bank of India has sold a net of $38.8 billion from its forex reserves between January and July this year, data released on Friday showed

Govt to soon rope in private players for foodgrains procurement: Food secy

"We have written to states that the government wants to bring private sector in the procurement process besides FCI and state agencies," food secretary Sudhanshu Pandey said.

Current account deficit expected to reach 3.4% in Apr-June: India Ratings

Merchandise exports touched a record high of $121.2 bn in Q1FY23, outward shipments are likely to slow down and come in at $104.2 bn in Q2FY23, growing by a meagre 1.4% in Q2 due to global headwinds

Oil ministry seeks review of windfall tax; wants certain fields exempt

Ministry, according to the letter, was of the opinion that contracts have an in-built mechanism to factor in high prices as incremental gains get transferred in form of higher profit share for govt

Recovery tracker: Lower mobility, power generation in week ended Sept 14

Railway freight traffic numbers were higher than before

Morgan Stanley revises rate call on RBI to 50 bps on sticky inflation

In the RBI's monthly bulletin released late Friday, the central bank said it will have to front-load its monetary policy to fight high inflation and shield medium-term growth.