Page 94 - Economy & Policy News
India's foreign exchange reserves drop by $6.93 billion to $695.36 billion
RBI data shows foreign currency assets and gold holdings declined in the week ended Oct 24, pulling total reserves below the $700-billion mark
 "India's foreign exchange reserves drop by $6.93 billion to $695.36 billion")
India's Apr-Sep fiscal deficit hits ₹5.73 trillion, 36.5% of FY26 estimate
The Centre's receipts stood at ₹17.3 lakh crore, or 49.5% of the FY26 target, while expenditure reached ₹23.03 lakh crore, or 45.5% of the estimate, led by higher interest and subsidy payments
 "India's Apr-Sep fiscal deficit hits ₹5.73 trillion, 36.5% of FY26 estimate")
Some companies in India get China licences to import REMs, says MEA
MEA confirms licences for Indian companies to import rare earth magnets from China; also announces US waiver on Chabahar port sanctions for six months
 "Some companies in India get China licences to import REMs, says MEA")
Rupee slips sharply as hopes of US Federal Reserve rate cut in Dec fade
The rupee weakened as much as 0.56 per cent, the most since August 29, to 88.70 per dollar on Thursday, closing in on its September record of 88.8050
 "Rupee slips sharply as hopes of US Federal Reserve rate cut in Dec fade")
Piyush Goyal stresses need for export diversification amid tariff heat
At a meeting with exporters, Goyal reviewed FTA talks with EU, Chile and New Zealand, and discussed challenges from US tariffs and quality control orders
 "Piyush Goyal stresses need for export diversification amid tariff heat")
Stats ministry plans fresh look at CPI housing gauge, seeks public feedback
Housing is an important component of the CPI series as it has a weightage of 21.67 per cent in urban areas and 10.07 per cent at the all-India level in the current series
 "Stats ministry plans fresh look at CPI housing gauge, seeks public feedback")
Assocham for easing direct tax measures to spur investor confidence
Chamber urges fiscal clarity for global data players, IBC loan waiver relief, and revival of the 15 per cent corporate tax rate to attract new investments
 "Assocham for easing direct tax measures to spur investor confidence")
India to impose 30% import duty on yellow peas to support domestic prices
Move effective from November 1 aims to curb cheap imports from Canada, Australia and Russia
 "India to impose 30% import duty on yellow peas to support domestic prices")
Global CEOs have committed massive maritime investments to PM: Govt
Rs 5.5 trillion has started funnelling from previous MoUs, says Sonowal
 "Global CEOs have committed massive maritime investments to PM: Govt")
IOCL seeks up to 24 million oil barrels from Americas amid Russia curbs
The state-backed refiner, India's largest, is seeking grades from the US, Canada, Brazil and Latin America
 "IOCL seeks up to 24 million oil barrels from Americas amid Russia curbs")
Manufacturing the one cylinder that isn't firing: NITI's Suman Bery
Bery called for the future of manufacturing success to be built through fostering regional clusters focused on local competitive advantages and not a uniform national approach
 "Manufacturing the one cylinder that isn't firing: NITI's Suman Bery")
BS BFSI Summit: 'Inflation-targeting worked, no major revamp required'
At BS BFSI Insight Summit 2025, a high-level panel of economists said that flexible inflation targeting has largely worked in keeping inflation under control and no major revamp is required
 "BS BFSI Summit: 'Inflation-targeting worked, no major revamp required'")
SME tracker: Strong demand to rev up growth for auto component SMEs
Exports to key destinations such as North America, however, are expected to be hit by US tariffs.
 "SME tracker: Strong demand to rev up growth for auto component SMEs")
Fiscal policy strongly supportive of growth: RBI Deputy Guv Poonam Gupta
What India should aspire to be, a developed nation, an emerged nation, or an emerged market, is an important one, says Gupta
 "Fiscal policy strongly supportive of growth: RBI Deputy Guv Poonam Gupta")
BS BFSI Summit: Economists torn between rate cut and pause in next MPC
The MPC kept the repo rate unchanged at 5.5 per cent in its October meeting, while striking a dovish tone and hinting that inflation risks were ebbing faster than anticipated
 "BS BFSI Summit: Economists torn between rate cut and pause in next MPC")
BS BFSI Insight Summit: On track for GDP growth exceeding 6.8%, says CEA
At Business Standard BFSI Insight Summit 2025, Nageswaran said that inflation and the rupee are stable, and fiscal discipline keeps deficits and borrowing costs under control
 "BS BFSI Insight Summit: On track for GDP growth exceeding 6.8%, says CEA")
UP govt raises sugarcane SAP by ₹30 per quintal for 2025-26 season
Millers say the hike will raise costs and squeeze margins; opposition calls it inadequate, while the state claims the 8% rise will add Rs 3,000 crore to farmers' income
 "UP govt raises sugarcane SAP by ₹30 per quintal for 2025-26 season")
PHDCCI bats for concessional 15% tax rate for new manufacturing units
PHDCCI urges revival of concessional tax for new manufacturing units, reinstatement of R&D incentives, and GST reforms to ease compliance and boost India's competitiveness
 "PHDCCI bats for concessional 15% tax rate for new manufacturing units")
India to be steady lighthouse for global rough seas: PM Narendra Modi
PM tells int'l shipping cos to invest and expand in India
 "India to be steady lighthouse for global rough seas: PM Narendra Modi")
EU team to visit India next week for 15th round talks on trade deal
Goyal expects both sides to make substantial progress towards closure by Dec
 "EU team to visit India next week for 15th round talks on trade deal")