Page 961 - Economy & Policy News
Gold rebounds as dollar retreat, Sino-US tensions offset higher bond yields
Gold prices rose on Wednesday as a pullback in the dollar and Sino-US tensions helped counter pressure from a rise in US Treasury yields after hawkish comments from Federal Reserve officials.
 "Gold rebounds as dollar retreat, Sino-US tensions offset higher bond yields")
Telangana bets big on oil palm, to cut $19 billion vegoil imports
Telangana is targeting 2 million additional acres under oil palm cultivation in the next four years, and is going to great lengths to achieve this goal
 "Telangana bets big on oil palm, to cut $19 billion vegoil imports")
Is the telecom sector staring at disruption after 5G auction?
The 5G auctions added Rs 1.5 trillion to the govt exchequer. As the dust is settles, let us explore how each player is placed, and will the 5G rollout be a watershed moment for the telecom sector
 "Is the telecom sector staring at disruption after 5G auction?")
GST e-invoicing must for entities with Rs 10 cr turnover from Oct 1
Presently, the process is mandatory for businesses with an annual turnover of Rs 20 cr and above
 "GST e-invoicing must for entities with Rs 10 cr turnover from Oct 1")
Govt cuts windfall tax on fuel export, raises levy on domestic crude oil
Centre lowers export tax on diesel and ATF; new rates to be effective from Aug 3
 "Govt cuts windfall tax on fuel export, raises levy on domestic crude oil")
Delhi's liquor policy U-turn: Problems that interrupted the private party
Monday was the first day when clubs and restaurants in Delhi had to refuse alcohol to visitors as the state government's new excise policy was scrapped and there was no clarity on the way forward
 "Delhi's liquor policy U-turn: Problems that interrupted the private party")
India's July trade deficit widens to record $31 bn; exports dip marginally
Gold imports declined 43.6% to $2.4 bn after the Centre raised import duty on gold last month to discourage buyers in the world's second-largest consumer
 "India's July trade deficit widens to record $31 bn; exports dip marginally")
Govt eyes ending schemes, including PAHAL, with wasteful expenditures
The PAHAL scheme, launched in 2013, is aimed at reduce diversion and eliminate duplicate or bogus LPG connections
 "Govt eyes ending schemes, including PAHAL, with wasteful expenditures")
Centre revokes mandatory coal import target after many flip-flops
NTPC and Coal India had awarded import contracts to Adani
 "Centre revokes mandatory coal import target after many flip-flops")
Govt revises windfall tax levied on crude, diesel and ATF
India has increased the export tax on petroleum crude and cut the tax on aviation turbine fuel and diesel
No GST on chequebooks for customers, only on bank buying from printer: FM
Also, there is no GST on crematorium, funeral, burial, or mortuary services, the minister said and explained the Goods and Service Tax has been levied on the construction of new crematoriums.
 "No GST on chequebooks for customers, only on bank buying from printer: FM")
India's unemployment lowest in six months at 6.8% in July: CMIE data
Urban unemployment jumped to 8.21 per cent in July from 7.80 per cent in June as the number of jobs fell both in industry as well as services
 "India's unemployment lowest in six months at 6.8% in July: CMIE data")
India's July trade deficit widens to $31 bn on costly imports, weak rupee
July's data comes after the Centre raised import duty on gold last month to discourage buyers in the world's second-largest consumer and rein in the yawning trade deficit
 "India's July trade deficit widens to $31 bn on costly imports, weak rupee")
Govt eases coal import targets as inventories improve in some states
Power ministry has asked PSU utilities and private power producers to assess the amount of coal needed to be imported for blending, according to a notice issued
 "Govt eases coal import targets as inventories improve in some states")
5G: How much money did the govt collect in previous auction rounds?
In the 2022 5G Spectrum auction, Reliance Jio emerged as the top buyer in the auction of airwaves, spending over Rs 88,000 crore, more than half the total bidding amount of Rs 1.5 trillion
 "5G: How much money did the govt collect in previous auction rounds?")
Telangana to launch insurance scheme to support bereaved weavers' families
Aiming to provide financial support to the bereaved families of handloom and power loom weavers in Telangana, the state government will launch the 'Nethana Beema' scheme on August 7
 "Telangana to launch insurance scheme to support bereaved weavers' families")
Will the govt be fifth-time lucky in bailing out discoms?
PM Modi announced a Rs 3 trillion package for reforms in the power distribution sector, while blaming 'freebies culture' for their mounting dues. Will the package address problems of the power sector?
 "Will the govt be fifth-time lucky in bailing out discoms?")
GAIL rationing gas as former Gazprom unit cuts supplies: Report
An industrial consumer said GAIL has restricted its gas quantities to a 'take or pay level', the lowest level at which it will not attract a penalty from the customer
 "GAIL rationing gas as former Gazprom unit cuts supplies: Report")
ONDC in advanced stage of integration with another 17 platforms
Platforms that have already integrated with ONDC's network include PayTM, Digiit, eSamudaay, Go Frugal, Growth Falcons, Seller App, Dunzo and Loadshare
 "ONDC in advanced stage of integration with another 17 platforms")
UPI records 6 billion transactions in July, highest ever since 2016
UPI crossed 1 billion transactions for the first time in October 2019, almost three years after its launch
 "UPI records 6 billion transactions in July, highest ever since 2016")