Page 945 - Economy & Policy News
17 mineral mines taken back from states over non-production: Pralhad Joshi
In March, Lok Sabha passed the Mines and Minerals (Development and Regulation) Amendment Bill, 2021
 "17 mineral mines taken back from states over non-production: Pralhad Joshi")
Inflation, rates may hit $114-billion firm debts: Standard and Poor's
'Deterioration in credit profile may not lead to large-scale defaults even in stressed scenario'
 "Inflation, rates may hit $114-billion firm debts: Standard and Poor's")
New ODI regulations: Govt allows investment in financial services abroad
Holding less than 10% in an overseas entity not considered 'control'
 "New ODI regulations: Govt allows investment in financial services abroad")
What's a freebie? Experts dissect basic definition amid SC hearings
'Strain on exchequer arising from sops to industry, bad loan waivers, etc., must be discussed'
 "What's a freebie? Experts dissect basic definition amid SC hearings")
SBI and ICRA see economy growing in double-digits in June quarter
Low base, robust recovery in contact-intensive services sector to boost expansion
 "SBI and ICRA see economy growing in double-digits in June quarter")
Providing HSN code responsibility of bidder, not tendering authority: SC
Apex court says it is the bidders' responsibility to find out the relevant HSN code
 "Providing HSN code responsibility of bidder, not tendering authority: SC")
Merchandise exports likely to be around $470-480 bn in FY23: Commerce Secy
India's merchandise exports are likely to be around $470-480 billion in the current fiscal against $420 billion in 2021-22, Commerce Secretary BVR Subrahmanyam said on Tuesday
 "Merchandise exports likely to be around $470-480 bn in FY23: Commerce Secy")
Department of Commerce to set up a dedicated trade promotion body
The commerce department plans to overhaul the data and analytics ecosystem via centralised data management and embedded analytics capabilities
 "Department of Commerce to set up a dedicated trade promotion body")
Re-examine financial sector architecture to build MSMEs better: Pronab Sen
According to Sen, the relationship between a bank and NBFC needs to be not of a borrower and a lender as it is today, but that of a partner
 "Re-examine financial sector architecture to build MSMEs better: Pronab Sen")
One year of Taliban takeover: 'Hing' spices up India-Afghanistan trade
However, the quantity imported isn't to meet overall demand, say traders; plans are on to start producing the condiment at home
 "One year of Taliban takeover: 'Hing' spices up India-Afghanistan trade")
India to make second foray into chip manufacturing as demand seen rising
Country's chip industry has another chance amid the global trend toward domestic semiconductor manufacturing.
 "India to make second foray into chip manufacturing as demand seen rising")
Is India ahead of 'unacceptably and uncomfortably high' phase of inflation?
The state of the economy report authored by RBI staff said the fall in the inflation rate in July was a heartening development
 "Is India ahead of 'unacceptably and uncomfortably high' phase of inflation?")
After wheat, retail price of rice rises 6.31% on supply concerns: Govt data
The All India average retail price of wheat has risen by over 22 per cent to Rs 31.04 per kg as of August 22 compared to Rs 25.41 per kg in the year-ago period, Consumer Affairs Ministry's data showed
 "After wheat, retail price of rice rises 6.31% on supply concerns: Govt data")
190 major mineral blocks auctioned in seven years, says Pralhad Joshi
"Mineral exploration will be carried out without adverse environmental impact through enhanced use of drones and other latest technologies," he said.
India bond yields up for fourth day in a row as inflation, US yields weigh
The benchmark 10-year government bond yield ended at 7.2811%. The yield has risen 9 basis points in last three sessions and had ended at 7.2702% on Monday.
 "India bond yields up for fourth day in a row as inflation, US yields weigh")
India's crude oil production falls 3.8% to 2.45 MT in July: Govt data
Oil and Natural Gas Corporation (ONGC) produced 1.7% less oil at 1.63 million tonnes on lower output from western offshore. Fields operated by private firms saw a 12.34% decline in production
 "India's crude oil production falls 3.8% to 2.45 MT in July: Govt data")
Can the new Irdai chief bring in much-awaited reforms in insurance sector?
For Irdai Chairman Debasis Panda, LIC's fortune and reforms in health insurance sector will be the two most difficult tests to pass
 "Can the new Irdai chief bring in much-awaited reforms in insurance sector?")
Q1 GDP growth seen at 15.7% with possibility of upward bias: SBI Ecowrap
India's GDP is expected to be much higher in Q1FY23 and growth is expected around 15.7% with a large possibility of an upward bias because several indicators have shown good progress
 "Q1 GDP growth seen at 15.7% with possibility of upward bias: SBI Ecowrap")
Lanka aims to lower fiscal deficit to 6.8% in budget 2023: Senior minister
Sri Lanka is planning to cut the budget deficit to 6.8 per cent of gross domestic product in 2023 from an expected 9.9 per cent in 2022
 "Lanka aims to lower fiscal deficit to 6.8% in budget 2023: Senior minister")
Rated Indian firms better placed to withstand rising rates, inflation: S&P
Companies and banks in India could feel the bite of rising rates and inflation, but rated firms are better cushioned to withstand the pressure, S&P Global Ratings said
 "Rated Indian firms better placed to withstand rising rates, inflation: S&P")