Page 978 - Economy & Policy News

Remittances from Gulf countries dropped sharply in FY21 due to Covid: RBI

The share of inward remittances from Gulf nations dipped sharply during 2020-21 on account of the economic stress created by the COVID-19 pandemic, said an RBI article

Front-loading monetary policy action can anchor inflation expectations: RBI

By front-loading rate hikes, RBI can cement the credibility of its monetary policy intent and action when it fights supply-side inflation on one hand and also contains the negative impact on growth

Muted impact of Fed's Taper 2 on India due to strong external position: RBI

The impact of US Federal Reserve's announcement in November last year to taper its asset purchases was "moderate" on Indian financial markets largely due to the country's strong external position

Govt likely to introduce bills to amend competition, insolvency laws

The government is likely to propose amendments to the competition and insolvency laws as it seeks to further strengthen the regulatory regime as well as address the needs of new age markets.

IMA urges FM Sitharaman to grant GST exemption to healthcare services

Indian Medical Association (IMA) on Saturday wrote a letter to Union Finance Minister Nirmala Sitharaman requesting to grant exemption in Goods and Services Tax (GST) for healthcare services.

Rajesh Bhushan gets charge of Secretary, Department of Health Research

Union health secretary Rajesh Bhushan was given the additional charge of the Secretary, Department of Health Research, Ministry of Health and Family Welfare

Worst of inflation may be behind us, RBI staff say in July 2022 Bulletin

According to the July Bulletin article, the current level of reserves were equivalent to 9.5 months of imports projected for 2022-23

Monsoon rains will progress, too early to comment on paddy sowing: Tomar

Data from Agriculture Ministry showed that as of July 15, the paddy sowing was down by 17.4% to 128.50 lakh hectares this Kharif season as against 155.53 LH in corresponding period of previous year

Maharashtra: MMRDA allowed to take loans up to Rs 60k cr for infra projects

The Maharashtra government will stand guarantor for the loans and stamp duty on the government guarantee has been waived off for an amount of Rs 12,000 crore to be raised in the first phase, CMO said.

Delhi grain markets remain closed as traders protest GST on packed food

Wholesale grain markets at Narela, Bawana and other parts of the city wore a deserted look due to the market bandh called by traders. Many retail grain markets in the city were also closed.

Centre set to abolish reverse auction bidding in wind energy sector

"The lowest tariff, or L1, would be averaged for these states. The power from these projects will be bundled and sold by SECI," said a source

Funding in startups drops by 17% to USD 6 billion in April-June: Nasscom

Funding in startups dropped by 17 per cent on quarter-on-quarter basis to USD 6 billion (about Rs 47,800 crore) in the April-June period, industry body Nasscom has said

Govt releases Natural Resource Accounting to track mineral, energy deposits

The asset accounts would help identify alternate economic and energy-based resources, and aid in developing an ecosystem for containing illegal mining

FinMin seeks industry views on changes in monthly GST payment form

The finance ministry on Friday released a paper suggesting changes in the monthly GST payment form and sought industry comments by September 15.

India set to be self-sufficient in urea by 2025 with six new plants

The commissioning of new plants is expected to bring down import dependency to less than half the current levels

Overall kharif sowing improves even as paddy and arhar remain muted

Experts say a fall in paddy output could hugely impact cereal prices going forward as wheat stocks in central pool aren't enough to quell any surge in prices

22 states, UTs see rise in inflation, despite marginal reduction overall

Lakshadweep was the only UT where the urban inflation rate was in double digits in June

Let India export foodgrains from public stock: FM Sitharaman at G20

Says India could help in reducing hunger or food insecurity

Bengal plans to take renewable energy generation from 5% to 20% by 2030

West Bengal is aiming to take its renewable energy generation to 20 per cent of the total installed capacity by 2030, a senior official said on Friday.

A deep dive into the success of Gujarat's school education model

Under the Gyankunj Project, over 15,000 smart classrooms have been built across Gujarat, according to MIS data. In 2022-23, as many as 24,000 more such classrooms are expected to be made functional