Page 938 - Economy & Policy News
Coal stock at electricity generating plants rises to about 30 MT: CIL
Coal stocks at power generating plants rose to about 30 million tonnes last month, state-run Coal India said on Thursday, dispelling fears of shortages of dry-fuel during the monsoon season
 "Coal stock at electricity generating plants rises to about 30 MT: CIL")
Top headlines: GST collections rise 28% in Aug; export tax on diesel hiked
The government raised the tax on the export of diesel and jet fuel (ATF) and hiked the windfall profit levy on domestically-produced crude oil in line with rising product margins and oil prices
 "Top headlines: GST collections rise 28% in Aug; export tax on diesel hiked")
GST collection rises 28% in August to Rs 1.43 trillion: Finance Ministry
The GST collection remained above the Rs 1.4-trn mark for the sixth straight month in August and the ensuing festival season will help continue the trend
MCA tweaks rules about company deposits, enhances statutory auditors' role
The new rules, according to experts, will widen the responsibility of directors to the statutory auditors. They came into effect on August 29
 "MCA tweaks rules about company deposits, enhances statutory auditors' role")
India could soon approve sugar exports in two tranches, says report
Exports by India, which has restricted shipments in the current season, could weigh on global prices, and help swell supplies across Asia
 "India could soon approve sugar exports in two tranches, says report")
India wants local settlement if its bonds join global index, says report
Media reports last week said JP Morgan had started new consultations with investors about adding India to its emerging market index, rekindling expectations of an imminent listing
 "India wants local settlement if its bonds join global index, says report")
Govt won't extend anti-dumping duty on ammonium nitrate from 3 nations
The government has decided not to extend the anti-dumping duty imposed on ammonium nitrate imported from Russia, Iran and Georgia
 "Govt won't extend anti-dumping duty on ammonium nitrate from 3 nations")
What changes can consumers expect in Delhi after change in liquor policy?
From September 1, private liquor vendors in New Delhi and the national capital region (NCR) will shut down their stores and state government will regain control
 "What changes can consumers expect in Delhi after change in liquor policy?")
Centre's fiscal deficit at 5.2% of GDP in Q1; experts say it may widen
Expect capex to pick up in the second half of the year and inch closer to 6.4% Budget estimate for full year
 "Centre's fiscal deficit at 5.2% of GDP in Q1; experts say it may widen")
Centre aims to boost refining capacity as fuel demand continues to rise
The oil ministry has been asked by the government to prepare a report on the country's future fuel demand and refining capacity needs
 "Centre aims to boost refining capacity as fuel demand continues to rise")
RBI ready to relax norms to facilitate LIC, government stake sale in IDBI
The largest stake in IDBI is currently held by the LIC. It holds 49.2 per cent of all the shares in the bank. It is followed by the govt, which holds 45.5 per cent
 "RBI ready to relax norms to facilitate LIC, government stake sale in IDBI")
India's power consumption grows by 2% to 130.35 bn units in August
India's power consumption grew marginally by nearly 2 per cent year-on-year to 130.35 billion units (BU) in August 2022, according to the power ministry data
 "India's power consumption grows by 2% to 130.35 bn units in August")
RBI may slow pace of rate hikes over growth concerns: Deutsche Bank
Das added that the central bank may consider 35 bps rate hike, should the U.S. Federal Reserve deliver a 75 bps rate hike on Sep. 21
 "RBI may slow pace of rate hikes over growth concerns: Deutsche Bank")
Moody's slashes India's economic growth forecast to 7.7% for 2022
Moody's Investors Service slashed India's economic growth projection for 2022 to 7.7 per cent, saying that rising interest rates, uneven monsoon and slowing global growth will dampen economic momentum
 "Moody's slashes India's economic growth forecast to 7.7% for 2022")
Goldman cuts India's growth forecast to 7%; M Stanley sees downside risks
Goldman Sachs has revised lower its growth projections for India after the April-June quarterly gross domestic product readings missed market estimates.
 "Goldman cuts India's growth forecast to 7%; M Stanley sees downside risks")
Rice export ban won't lower inflation or meaningfully improve food security
The last time India blocked grain exports, in 2007 and 2008, the decision precipitated a years-long food-security crisis
 "Rice export ban won't lower inflation or meaningfully improve food security")
India's Q1 GDP grows at 13.5%: What does it mean?
Indian economy grew by 13.5% in Q1 FY23, slower than what economists predicted, but high enough to keep hopes alive. The growth was driven by a rise in private consumption. Here's an insight into it
 "India's Q1 GDP grows at 13.5%: What does it mean?")
India Inc's foreign investment declines over 50% to $1.11 billion in July
Outward Foreign Direct Investment, the domestic companies had invested over $2.56 billion in July 2021 in the form of equity, loan and issuances of guarantees
 "India Inc's foreign investment declines over 50% to $1.11 billion in July")
13.5% growth hides warts
The 13.5% print is lower than consensus estimates, and more so, when compared with the Reserve Bank of India's Q1 forecast of 16.2%
India's April-July fiscal deficit recorded at 20.5% of FY23 target
The centre spent Rs 1.1 trillion or 35% of the full year's estimate for food, fertiliser and petroleum subsidies
 "India's April-July fiscal deficit recorded at 20.5% of FY23 target")