Page 949 - Economy & Policy News
Centre to monetise The Ashok Hotel; Samrat to be retained by ITDC
The government, through its consultant, will hold a roadshow on August 22 to seek views of market participants on the proposed models for monetisation of ITDC properties
 "Centre to monetise The Ashok Hotel; Samrat to be retained by ITDC")
India won't make sovereign commitment on future digital services tax
May delay implementation of global tax deal
 "India won't make sovereign commitment on future digital services tax")
India targets 900 million tonne coal production in FY23: Minister
With regards to commercial mining, coal minister Pralhad Joshi said 43 mines have been awarded during the last two years and that they will generate employment for nearly 32,000 people
 "India targets 900 million tonne coal production in FY23: Minister")
Will Centre extend free foodgrains scheme beyond Sept or let it fade away?
Drawdown in wheat stocks, fear of fall in rice production raise doubts on scheme's sustenance beyond Sept 30 deadline
 "Will Centre extend free foodgrains scheme beyond Sept or let it fade away?")
Govt nods enhancing ECLGS limit to Rs 5 trn for hospitality, allied sectors
Union Cabinet has approved the enhancement in the limit of Emergency Credit Line Guarantee Scheme by Rs 50,000 crore Rs 5 Lakh crore, with the additional amount being earmarked entities in hospitality
 "Govt nods enhancing ECLGS limit to Rs 5 trn for hospitality, allied sectors")
Most economists see GDP growing at slower pace in Q1 than MPC projection
At the MPC's estimate of 16.2%, the economy would have grown 6.1% over the corresponding quarter of 2019-20
 "Most economists see GDP growing at slower pace in Q1 than MPC projection")
At $4.3 bn, imports from Russia jump nearly 7 times in June: Govt data
Oil makes up 71% of total imports from the country
 "At $4.3 bn, imports from Russia jump nearly 7 times in June: Govt data")
India's oil demand to rise by 7.7% in 2022, fastest growing in world: OPEC
India's demand for oil products is projected to rise from 4.77 million barrels per day (bpd) in 2021 to 5.14 million bpd in 2022, OPEC said in its monthly oil report.
 "India's oil demand to rise by 7.7% in 2022, fastest growing in world: OPEC")
1.5% interest subvention on short-term agri loans of up to Rs 3 lakh: Govt
This increase in nterest subvention support requires additional budgetary provisions of Rs 34,856 crore for the period of 2022-23 to 2024-25 under the scheme
 "1.5% interest subvention on short-term agri loans of up to Rs 3 lakh: Govt")
Top headlines:Airtel makes Rs 8k-cr spectrum payment; ECLGS corpus enhanced
New entrant Akasa Air is financially strong enough to place an aircraft order in the 18 next months that will be significantly larger than its first, its founder and CEO Vinay Dube said on Wednesday
 "Top headlines:Airtel makes Rs 8k-cr spectrum payment; ECLGS corpus enhanced")
Union Cabinet enhances ECLGS corpus by Rs 50,000 crore to Rs 5 trn
In the 2022-23 Union Budget, there was a proposal for raising the limit of ECLGS from Rs 4.5 lakh to Rs 5 lakh crore to help hospitality sector hit by the coronavirus pandemic.
 "Union Cabinet enhances ECLGS corpus by Rs 50,000 crore to Rs 5 trn")
Retail sector reports healthy over pre-pandemic level growth: RAI
Retail businesses across India continued to post healthy growth over pre-pandemic levels, registering an 18 % rise in July sales compared to the same month in 2019, Retailers Association of India said
 "Retail sector reports healthy over pre-pandemic level growth: RAI")
Gold flat as investors await cues on interest rate hikes from Fed minutes
Gold prices were flat today, as investors awaited the release of the minutes of the U.S. Federal Reserve's last policy meeting later in the day that could offer clues on further interest rate hikes.
 "Gold flat as investors await cues on interest rate hikes from Fed minutes")
Oil prices recover from 6-month lows following drop in US stockpiles
Oil prices rose, recovering from 6-month lows, as a larger-than-expected drop in US oil and gasoline stocks reminded investors that demand remains firm, if overshadowed by recession prospects.
Housing Scheme 2021: DDA plans 'mini draw' of waitlisted applicants in Sept
The DDA on April 18 had conducted a draw of lots for the its Special Housing Scheme, 2021 for applicants
 "Housing Scheme 2021: DDA plans 'mini draw' of waitlisted applicants in Sept")
Indian Railways plans to revamp passenger reservation system: Report
The Passenger Reservation System (PRS) of the Indian Railways is all set to undergo a revamp, a move that can help weed out 'malafide users'
 "Indian Railways plans to revamp passenger reservation system: Report")
Volatile cotton prices, weak domestic demand hurt Gujarat's denim industry
Most MSMEs running at 60 per cent capacity as high input prices have also made exports costlier
 "Volatile cotton prices, weak domestic demand hurt Gujarat's denim industry")
Should India go for bond issue to tap NRIs, other overseas investors?
The crucial issue is what should be the interest rate to attract overseas investors, mainly Indians to take part in it
 "Should India go for bond issue to tap NRIs, other overseas investors?")
Should India regulate freebies?
PM Modi recently slammed the 'culture' of distributing freebies - triggering a nationwide debate around it. Parties riding to power on the promise of freebies are not new. We wade into this debate
 "Should India regulate freebies?")
Inflation: Things might get 'better' towards Sept-end, says SBI chairman
He said the supply side constraints getting addressed and crude oil prices trending low will help ease the situation
 "Inflation: Things might get 'better' towards Sept-end, says SBI chairman")