Page 928 - Economy & Policy News

MSMEs contribute 30% to India's GDP, to grow further: Narayan Rane

India's youth would be the flag bearer of the growth and hence need to be supported by better work opportunities, said Narayan Rane

India Inc overseas direct investment drops 59% to $1.03 bn in Aug: RBI data

The RBI data on Outward Foreign Direct Investment (OFDI) for August 2022 showed that the total financial commitment by the domestic firms was worth USD 1,027.67 million in August, 2022-23.

FSDC discusses ways to ease inter-regulatory issues at IFSC-GIFT City

Council held meeting in Mumbai on Thursday, chaired by Union Finance Minister Sitharaman

Deficit in paddy sowing narrows to 4.5%; Jharkhand worst hit: Agri Ministry

About 80 per cent of India's total production comes from this season. The government expects 6-7 million fall in kharif rice production based on the crop condition till last week.

Toy sector pitches for PLI scheme, export council to promote growth

Extending the PLI scheme to the toy sector and setting up a separate export promotion council would propel the sector by creating jobs and boosting exports, industry experts said.

More firms to have reduced compliance burden as govt revises norms

The latest decision by the corporate affairs ministry, which is implementing the companies law, has again revised the definition of small companies

Need to build resilient supply chains, boost connectivity: PM Modi at SCO

India assumes rotational annual presidency of SCO summit nations; China, Russia and other countries offer support for summit next year in India

Maha transport department issues draft for fee hike of VIP vehicle numbers

Citizens can submit suggestions and objections to the proposed fee structure by October 14, the regional transport official informed

India's high govt borrowing may be offset by lower debt issuance: ICICI Sec

Indian government's potential higher borrowing in the second half of this financial year could be offset by lower debt issuance by states, ICICI Securities Primary Dealership said.

CPSEs need ministerial panel's nod to to sell units to govt entities

Providing impetus to privatisation, cabinet recently empowered the boards of the CPSEs to privatise, disinvest or close their subsidiaries and sell stakes in JVs

Odisha to get 5G in first phase of launch: Telecom Minister Vaishnaw

Odisha will have access to 5G telecom service in the very first phase. It will provide users 10 times the speed of 4G, he said on the sidelines of a programme here

Banks seek clarity on 'grey areas' from RBI on Rupee Vostro accounts

India has stepped up its purchase of cheaper Russian crude despite international opposition and sanctions. New Delhi is looking to settle this trade in rupees to continue with its purchases

Controlling blood sugar level can predict risk to type 1 diabetics

New research states that blood sugar level should be lower than 53 mmol/mol (7%) to avoid health complications

India set to become $10 trillion economy by 2030, says Hardeep Singh Puri

Union Minister for Petroleum and Natural Gas Hardeep Singh Puri said that India is on the path to becoming a $10 trillion economy in 2030 and the third largest economy in the world by 2047

India's non-petroleum exports to UAE underperform after FTA, shows data

In comparison, India's overall non-petroleum exports grew 8 per cent during May-July while overall exports grew 15.1 per cent during the same period

Fitch cuts India FY23 GDP growth forecast to 7%; world GDP growth at 2.4%

At a more macro level, Fitch now expects world GDP to grow by 2.4 per cent in 2022 - revised down by 0.5 percentage points (ppt) since the June assessment

Govt to provide subsidy to set up EV-charging infra, says power secy

'We would give subsidy to firms setting up EV charging infrastructure to pay the discoms or utilities setting up upstream infrastructure'

Delhi govt offers power subsidy opt-out amid dwindling liquor revenue

AAP says enough money to pay subsidy, only giving an option to those who don't want it and the move would expose "double talk" of BJP

PSU units' privatisation to require extensive due diligence, clearance

As per the process for privatisation of PSU units, minority sale and stake sale in JVs shared by the DIPAM, boards will recommend mode of transaction to their administrative department

Sunil Barthwal named new Commerce Secy, Vivek Bhardwaj appointed Mines Secy

Senior IAS officers Sunil Barthwal and Vivek Bharadwaj have been named as the Commerce and Mines Secretary, respectively, as part of a top-level bureaucratic reshuffle effected on Thursday