Page 992 - Economy & Policy News

Credit lines exhausted, India asks Sri Lanka to pay for fuel in advance

Sri Lanka, which has depleted its foreign exchange reserves, was hoping for a fresh approval from India of a $500 million credit line for fuel purchases

Alternative to SWIFT: NPCI plans to take the UPI system to 32 million NRIs

Indians overseas remitted $87 billion last year, the biggest inflow for any country tracked by the World Bank

States must push farmers to up sowing to boost exports: Piyush Goyal

Goyal told state governments that there is no shortage of funds with the Centre for settling old food subsidy claims but the delay was because states are not filing their claims with proper documents

Russia signs pact for supplying tech for Kudankulam nuclear power plant

LUCH Scientific Production Association, which is a part of Science and Innovations, the R&D unit of Rosatom will provide the new sensors designed for thermal control of NPP process equipment

States' borrowing cost remains high at 7.86% despite fall in G-secs yield

The borrowing cost for states continues to remain elevated, sniffing at the 7.9-per cent mark for the fourth consecutive week despite the average cut-off slipping marginally by 2 bps to 7.86 per cent

Food ministry calls meeting of edible oil firms to reduce retail prices

The food ministry has called a meeting on Wednesday with edible oil industry bodies and manufacturers to discuss reduction in the retail prices of cooking oils amid a fall in global prices

Production-linked incentive scheme can add 4% to GDP annually: Report

PLI scheme, which seeks to boost manufacturing in key areas by offering nearly Rs 2.4 lakh crore in incentives over next five years, can add 4 per cent to GDP annually in terms of incremental revenue

Railways stakes claim for coal transport planning, fix 'big mismatch'

Coal freight is railways' biggest source of revenue, earning it Rs 67,000 crore in 2021-22

Tussle over $5 billion in wages is new risk to India's coal supply

Workers are seeking a 47 per cent increase in wages - having earlier demanded a 50 per cent hike - while Coal India has offered a 3 per cent raise

New infrastructure finance secretariat to boost capacity, financing

The new framework is expected to be out by the end of this calendar year

India may not need to import urea after 2025, says Mansukh Mandaviya

This is owing to rising domestic production, nano supplies

Scope for further pruning of GST exemption list: Revenue secy Tarun Bajaj

Industry body Ficci in a letter to the finance ministry on Monday said that 5 per cent GST on non-ICU hospital rooms above Rs 5,000 will increase the cost of healthcare services

India's services activity rises to 59.2 in June, highest in 11 years

Unrelenting inflation continued to worry businesses that were cautiously optimistic about the year-ahead outlook for business activity

Odisha top among states on Food Act implementation; UP in second place

Goa and Chhattisgarh at the bottom of the pile on implementation of National Food Security Act

UP, Gujarat ask Centre to restore wheat quota under two food schemes

States raise matter in central government's meeting on food security, say beneficiaries complaining

Rupee slips 41 paise to 79.36; dollar index surges to 2-decade high

Rupee may sink to 82 against dollar in Q3, high trade deficits will be the norm now, says Nomura

Indian influence in South Asia declines as China expands foothold

China's exports to the region grew over five times between 2005 and 2020

India says Big Tech must obey law of the land as Twitter goes to court

The Indian government said that all Internet intermediaries and social media platforms have to comply with the law of the land, after Twitter moved Karnataka High Court

Service charge: Staff at many restaurants fear tips may dwindle

The decision has drawn mixed response from hoteliers, restaurant owners and associations, across India, some of whom said the move will ''not impact'' their businesses

Unemployment rate rises to 7.8% in June with loss of 13 mn jobs: CMIE

The country's unemployment rate has shot up at 7.80 per cent in June with the loss of 13 million jobs, mainly in the agriculture sector, according to the data released by CMIE