Page 996 - Economy & Policy News
Core sector output at 13-month high in May at 18.1% on capex push
The data shows broad-based improvement in core sector growth benefitting from a low base, with the exception of coal
 "Core sector output at 13-month high in May at 18.1% on capex push")
Rupee relatively better placed than other global currencies against USD: FM
The rupee breached the psychologically significant level of 79 per dollar level for the first time ever on Wednesday and has also hit a series of new lows this month
 "Rupee relatively better placed than other global currencies against USD: FM")
RBI's financial stability report flags risks with public debt profile
A credible strategy to ensure debt sustainability calls for reducing primary deficits, the central bank said in its Financial Stability Report
 "RBI's financial stability report flags risks with public debt profile")
Andhra, Gujarat 'top achievers' in govt survey on reforms for business
The latest fifth edition of the Business Reforms Action Plan (BRAP), 2020, by the industry department did not rank states on the ease of doing business measures undertaken by them
 "Andhra, Gujarat 'top achievers' in govt survey on reforms for business")
India made recommendation for Adani Green: Sri Lankan power board
Under the MoU signed with CEB, Adani Green is conducting a feasibility study for wind power projects, according to the report
 "India made recommendation for Adani Green: Sri Lankan power board")
Labour codes not to kick in from Friday even as states, UTs frame rules
The Centre has already finalised rules on all the four codes
 "Labour codes not to kick in from Friday even as states, UTs frame rules")
Credit growth to industry accelerates to 8.7% in May, shows RBI data
Credit growth to industry accelerated to 8.7 per cent in May 2022, while for agriculture and allied activities, the off-take increased by 11.8 per cent, according to RBI data released on Thursday.
 "Credit growth to industry accelerates to 8.7% in May, shows RBI data")
India's external debt rose to $620.7 bn in FY22, up 8% YoY: RBI data
India's external debt increased by USD 47.1 billion to USD 620.7 billion in the financial year ended March 2022, the Reserve Bank said on Thursday.
 "India's external debt rose to $620.7 bn in FY22, up 8% YoY: RBI data")
Core sector output expands by 18.1% in May, highest in 13 months
In May, the output of coal, crude oil, refinery products, fertiliser, cement and electricity rose by 25.1%, 4.6%, 16.7%, 22.8%, 26.3% and 22%, respectively
 "Core sector output expands by 18.1% in May, highest in 13 months")
Govt's total liabilities rise 3.7% to Rs 133.22 trn in March quarter
The report released by the finance ministry on Thursday said public debt accounted for 92.28% of the total outstanding liabilities at the end of March
 "Govt's total liabilities rise 3.7% to Rs 133.22 trn in March quarter")
Centre's fiscal deficit at 12.3% of full-year target in May: Govt data
The fiscal deficit was at 8.2 per cent of the Budget Estimate (RE) of 2021-22 during the corresponding period
 "Centre's fiscal deficit at 12.3% of full-year target in May: Govt data")
Online players, agents may have to disclose insurance commission
IRDAI is considering a proposal that seeks to have a single limit for expenses made by insurance companies
 "Online players, agents may have to disclose insurance commission")
Outlook for global credit conditions in 2022 is negative: Moody's
Credit rating agency Moody's Investors Service on Thursday said the outlook for global credit conditions this year has turned more negative amid slower global growth, rising borrowing costs
 "Outlook for global credit conditions in 2022 is negative: Moody's")
PM Modi inaugurates 'Raising & Accelerating MSME Performance' scheme
According to Prime Minister's Office (PMO), the scheme has outlay of around Rs 6,000 crore
 "PM Modi inaugurates 'Raising & Accelerating MSME Performance' scheme")
GST: Tech use to plug revenue leaks, Rs 1.3 trn monthly tax 'new normal'
As the government releases the June GST collection numbers on July 1, it is widely expected that the collections will follow the past four months' trend and be around Rs 1.4 lakh crore
 "GST: Tech use to plug revenue leaks, Rs 1.3 trn monthly tax 'new normal'")
War, US inflation impact: Export demand from big partners may taper off
Demand for items, such as steel, apparels, leather, iron ore has been lukewarm from some of India's largest export partners, such as the United States (US), European Union (EU)
 "War, US inflation impact: Export demand from big partners may taper off")
Assessing & delivering bad news on economy no longer taboo in FinMin
Change in mindset has been brought on by Chief Economic Advisor V Anantha Nageswaran who has ensured that discussions on the economy are now much more data-driven and without bluster
 "Assessing & delivering bad news on economy no longer taboo in FinMin")
What is MPC member Jayant R Verma on inflation & economic challenges?
In a chat with Business Standard's Manojit Saha, external MPC member Jayant R Verma said that the country will have to tolerate a modest growth sacrifice now as the RBI fights inflation. Listen in
 "What is MPC member Jayant R Verma on inflation & economic challenges?")
India steps up fuel imports amid shortage; Asia's pool of supplies shrinks
Rush to import petrol and diesel has already led to a surge in regional refining margins
 "India steps up fuel imports amid shortage; Asia's pool of supplies shrinks")
Govt allots Rs 2,516 cr for computerisation of primary agri co-op societies
The model bylaws will enable PACS to offer economic activities other than credit which includes developing cold-storage facilities in villages, running PDS shops and locker facilities for depositors
 "Govt allots Rs 2,516 cr for computerisation of primary agri co-op societies")