Page 931 - Economy & Policy News
Consultations in progress on revising WPI base year to 2017-18: DPIIT secy
Inter-ministerial consultations are progressing on revising the WPI base year from 2011-12 to 2017-18
 "Consultations in progress on revising WPI base year to 2017-18: DPIIT secy")
Oil prices at 7-month low, but no change in petrol, diesel prices in India
International oil prices have hit a seven-month low but there is no change in retail selling price of petrol and diesel in India as state-owned fuel retailers recoup losses incurred for holding rates
 "Oil prices at 7-month low, but no change in petrol, diesel prices in India")
Sri Lanka's economic crisis powers 22% spike in Indian orthodox tea exports
Sri Lanka accounts for half the global trade in orthodox teas. Sources say exports from India could pick up further in second and third quarters, will help meet target of 240 mkg by year-end
 "Sri Lanka's economic crisis powers 22% spike in Indian orthodox tea exports")
Pvt players will benefit: Workers federation leader slams electricity bill
The Electricity Amendment Bill 2022 tabled in Parliament in August will benefit private players and hurt common citizens, a senior functionary of an employees' outfit said
 "Pvt players will benefit: Workers federation leader slams electricity bill")
India opts out of joining IPEF trade pillar, to wait for final contours
India to wait for final contours before formally associating with IPEF trade pillar, says Goyal
 "India opts out of joining IPEF trade pillar, to wait for final contours")
Identifying works and funding key to national urban job scheme
The financial burden depends on the design of the scheme.
 "Identifying works and funding key to national urban job scheme")
Kharif acreage nears last year's level, except for paddy and pulses
The Centre has clamped export curbs on several paddy varieties as it feels that total production might drop by 10-12 million tonnes due to delayed sowing.
 "Kharif acreage nears last year's level, except for paddy and pulses")
Output of kharif rice may drop by 4-5 mn tonnes due to drought: Govt
In full 2021-22, around 81,000 tonnes of broken rice was allotted from FCI's godowns for ethanol production
 "Output of kharif rice may drop by 4-5 mn tonnes due to drought: Govt")
Crackdown on illegal loan apps: RBI to make 'whitelist' of legal platforms
MeitY will ensure only authorised apps are hosted on app stores; all ministries to take possible action
 "Crackdown on illegal loan apps: RBI to make 'whitelist' of legal platforms")
Railways floats tender to procure 80,000 indigenous forged wheels a year
Invites industry to set up domestic manufacturing facility at estimated cost of Rs 1,000 crore
 "Railways floats tender to procure 80,000 indigenous forged wheels a year")
Crude oil output to go up substantially from next year: Petroleum Secy
Pankaj Jain's comments follows contracts signed by govt for 34 oil exploration blocks; minister Hardeep Singh Puri asserts energy crisis in Europe far worse than India
 "Crude oil output to go up substantially from next year: Petroleum Secy")
Infra lending gains traction, but may see gradual growth going forward
Lenders are waiting for clear demand patterns to emerge and policy stability, say analysts
 "Infra lending gains traction, but may see gradual growth going forward")
India's broken rice exports had gained over 90% in FY22, shows data
China is the biggest recipient of India's broken rice exports
After duty hike on some varieties, Centre bans broken rice exports
India exported around 1.8 MT broken rice between April-June
 "After duty hike on some varieties, Centre bans broken rice exports")
Deflating gas economy: Kirit Parikh has a tough task on hand as prices soar
As global prices soar, another committee to review gas pricing policies may find the going more challenging
 "Deflating gas economy: Kirit Parikh has a tough task on hand as prices soar")
Direct tax mop-up jumps 35.5% to Rs 6.48 trillion in FY23: Govt
The ministry said refunds amounting to Rs 1.19 trillion have been issued till September 8 this fiscal year, 65.3 per cent higher than the refunds issued for the same period in FY22.
 "Direct tax mop-up jumps 35.5% to Rs 6.48 trillion in FY23: Govt")
Top headlines: Indian forex reserves, Kharif rice production, and more
Foreign exchange reserves declining to government making first disbursement under PLI scheme, here are the top headlines of the day
 "Top headlines: Indian forex reserves, Kharif rice production, and more")
Passenger vehicle dispatches surge 21% in Aug on better chip supply, demand
As per the latest data released by industry body SIAM, passenger vehicle (PV) dispatches to dealers stood at 2,81,210 units last month, against 2,32,224 units in August 2021
 "Passenger vehicle dispatches surge 21% in Aug on better chip supply, demand")
India considers further coal imports as concern over energy supply grows
Stockpiles of the fossil fuel at power plants have fallen about 11% since mid-August, meaning utilities have an average of 10 days supply, well below required levels of more than three weeks
 "India considers further coal imports as concern over energy supply grows")
India, US to soon hold trade policy forum meet to promote trade, investment
India and the US will "very soon" hold the next ministerial-level meeting of the Trade Policy Forum (TPF) in America to discuss ways for promoting trade and investment between the countries.
 "India, US to soon hold trade policy forum meet to promote trade, investment")