Page 967 - Economy & Policy News
High freight rates, rake shortage hit coastal coal shipping plan
Inadequate rake supply continues to haunt railways despite its numerous claims of intervention
 "High freight rates, rake shortage hit coastal coal shipping plan")
Centre appoints NLMC interim head; to initiate surplus land monetisation
The interim CEO's job is learnt to have gone to Sanjay Kumar Jain, and the government has appointed its nominees to the board of the corporation
 "Centre appoints NLMC interim head; to initiate surplus land monetisation")
New SEZ law to focus on job creation and research, not foreign exchange
Enterprise hubs will have land-based area requirements and shall permit both manufacturing and services activities
 "New SEZ law to focus on job creation and research, not foreign exchange")
Statsguru: 160,000 Indians gave up citizenship in 2021 for greener pastures
The top countries for which Indian citizenships were relinquished include the US, Australia, Canada, the UK, and Italy
 "Statsguru: 160,000 Indians gave up citizenship in 2021 for greener pastures")
Consumer IT spending to slide further amid recession fears in Asia-Pacific
Consumer IT spending in the Asia-Pacific region, already taking the brunt in the ongoing tight market conditions, is set to further slide in 2023, depending on the severity of the economic slowdown
States to meet 25% of their energy needs from renewable energy sources
The stringent targets come in the wake of India committing an ambitious 500 gigawatt (GW) of RE by 2030 at the Glasgow COP26 climate summit last year
 "States to meet 25% of their energy needs from renewable energy sources")
Insurance companies made Rs 40,000 cr in 5 years under PMFYB scheme
The companies paid claims worth Rs 119,314 crore to farmers against the total premium collection of Rs 159,132 crore under PMFBY
 "Insurance companies made Rs 40,000 cr in 5 years under PMFYB scheme")
Gujarat kesar mango exports get fillip with US nod for irradiation facility
At 1 million curie capacity, the facility in Gujarat is largest among the four in India
 "Gujarat kesar mango exports get fillip with US nod for irradiation facility")
Casual workers PSUs hired fell 44% in first Covid-19 pandemic year
Experts say lockdown and near stalling of business may have prompted the decline
 "Casual workers PSUs hired fell 44% in first Covid-19 pandemic year")
MoD bans imports from 18 top defence platforms, items to be made in India
Items include light-weight tanks, self-healing minefields, "plug-and-play housing" for soldiers at extreme altitudes, 127 mm naval gun, multi-role helicopter, among others
 "MoD bans imports from 18 top defence platforms, items to be made in India")
PLI will spur white goods sector to compete globally, help it scale: Goyal
Minister says 61 companies had set up component plants in 14 states and UTs. They are expected to invest about Rs 6,632 crore and create 46,368 direct job opportunities
 "PLI will spur white goods sector to compete globally, help it scale: Goyal")
Don't exceed your licence brief: RBI governor Das tells fintech firms
The RBI's notification regarding PPIs had sent the entire fintech world, especially the buy now pay later (BNPL) industry, into a tizzy
 "Don't exceed your licence brief: RBI governor Das tells fintech firms")
Wheat stocks likely to be 80% higher than buffer norm by next April: Govt
The govt suspended wheat export on May 13, moving all varieties of wheat, including high-protein durum, from 'free' to the 'prohibited' category
 "Wheat stocks likely to be 80% higher than buffer norm by next April: Govt")
Opposition targets Centre over imposing GST on pre-packaged food items
The BJP, however, accused Opposition parties of doing politics over the issue, saying states not ruled by the BJP were also part of the decision taken by the GST council
 "Opposition targets Centre over imposing GST on pre-packaged food items")
Exploration, imports, private firms: India's search for lithium spreads out
'White gold', needed for electric car batteries, is scarce in the country and getting expensive internationally
 "Exploration, imports, private firms: India's search for lithium spreads out")
Despite fiscal steps, wheat, pulses and LPG see high inflation in July
The government announced a number of fiscal steps after overall inflation refused to come below six per cent since January this year.
 "Despite fiscal steps, wheat, pulses and LPG see high inflation in July")
India's non-oil exports to Nepal fell 13% to $943 mn in April-May
Himalayan neighbour bans imports of non-essentials amid depleting forex; dip could impact India's FY23 trade deficit which is already worsening on fears of recession in developed countries
 "India's non-oil exports to Nepal fell 13% to $943 mn in April-May")
PSUs' buy from small business rose 11% to Rs 41,699 crore in FY21
About 239 of 389 PSUs owned about 1.61 million acres land collectively, the survey showed
 "PSUs' buy from small business rose 11% to Rs 41,699 crore in FY21")
Bulk of India Inc's overseas debt is hedged: RBI governor Shaktikanta Das
No particular level of rupee in mind but have zero tolerance for volatile movements: Das
 "Bulk of India Inc's overseas debt is hedged: RBI governor Shaktikanta Das")
Sugar output may fall; still there'll be 8 mt surplus for exports: ISMA
ISMA estimates that the diversion of cane juice and B-molasses to ethanol shall cut sugar production by about 4.5 mt during the next marketing year.
 "Sugar output may fall; still there'll be 8 mt surplus for exports: ISMA")