Page 291 - Economy
India to offer $4-$5 bn incentives to boost electronics, cut China reliance
India's electronic production has more than doubled in the last six years to $115 billion in 2024
 "India to offer $4-$5 bn incentives to boost electronics, cut China reliance")
RBI asks some lenders to reduce speculative positions against rupee
While the RBI has previously stopped banks from adding long positions on the dollar-rupee, they have not asked them to cut positions in recent years
 "RBI asks some lenders to reduce speculative positions against rupee")
Rupee falls below 84.50/$ for first time on dollar strength, outflows
The gains paused earlier in the week but restarted on Wednesday due to heightened geopolitical risks and after the Federal Reserve officials signalled caution on rate cuts
 "Rupee falls below 84.50/$ for first time on dollar strength, outflows")
Nov Flash PMI: Charge inflation hits 12-year high, but biz confidence rises
HSBC Flash November PMI: Composite output index rises to 59.5, up from October's final reading of 59.1. Manufacturing PMI dips to 60.2, services PMI rises to 59.2
 "Nov Flash PMI: Charge inflation hits 12-year high, but biz confidence rises")
Adani saga: Lack of takers for RE key reason behind corruption case
SECI could not find buyers for the said "Corrupt solar project," companies resorted to bribing states: SEC findings
 "Adani saga: Lack of takers for RE key reason behind corruption case")
Microfinance lending jumps 10% to Rs 40,840 crore in Uttar Pradesh
Microfinance institutions lent Rs 7,584 crore in the previous quarter (July-September 2024) in the state
 "Microfinance lending jumps 10% to Rs 40,840 crore in Uttar Pradesh")
Ensure employees' UAN is active to avail ELI scheme benefits: Govt to EPFO
EPFO will involve their zonal and regional offices for effective outreach, the ministry said in a statement
 "Ensure employees' UAN is active to avail ELI scheme benefits: Govt to EPFO")
Govt looks to reduce red tape and unmoor port infrastructure delays
New plan aims to expand financial powers, and level the playing field with private operators
 "Govt looks to reduce red tape and unmoor port infrastructure delays")
India may land in top 5 with 12.7% growth in airline seat capacity
On a more positive note, the report points out that with two major airlines, Air India and IndiGo, both having placed large aircraft orders, India's growth in aviation sector is expected to take off
 "India may land in top 5 with 12.7% growth in airline seat capacity")
Draft guidelines to upgrade 1,000 ITIs in the works; talks concluded
Talks with stakeholders for proposed scheme completed
 "Draft guidelines to upgrade 1,000 ITIs in the works; talks concluded")
Macroeconomic stability a joint effort, says RBI Governor Shaktikanta Das
Stable inflation is foundation for sustained growth, says Das
 "Macroeconomic stability a joint effort, says RBI Governor Shaktikanta Das")
New global climate finance draft poses challenges for developing world
Latest version of the Global Climate Finance plan fails on most counts to meet India and other developing countries' demands or expectations
 "New global climate finance draft poses challenges for developing world")
COP29 meet: Cannot accept attempts to shift focus from finance, says India
It also said that without adequate support in terms of finance, technology, and capacity building, the fight against climate change would be severely impacted
 "COP29 meet: Cannot accept attempts to shift focus from finance, says India")
Business & climate are no longer an either-or choice, says Philippe Varin
'Over the next 30 years, we're expected to extract as many resources from the planet as we have since the beginning of human civilisation'
 "Business & climate are no longer an either-or choice, says Philippe Varin")
India, Maldives ink pact for cross-border transactions in local currencies
The MoU was signed by Shaktikanta Das, governor, RBI, and Ahmed Munawar, governor, Maldives Monetary Authority
 "India, Maldives ink pact for cross-border transactions in local currencies")
'India shaping global climate action while upholding own development plan'
"Our initiatives to promote carbon and green credits align with global climate goals, while safeguarding India's developmental objectives,'' Environment Minister said
 "'India shaping global climate action while upholding own development plan'")
Govt's focus on FDI liberalisation to boost industrialisation: DPIIT
Initiatives like the National Industrial Corridor Program, Production Linked Incentive (PLI) scheme, and the ease of doing business reforms have facilitated industrial growth, DPIIT secy said
 "Govt's focus on FDI liberalisation to boost industrialisation: DPIIT")
CEA advises India Inc not to seek protective cover of weak currency
A weak currency can be good for exporters, making their products relatively less expensive for buyers abroad
 "CEA advises India Inc not to seek protective cover of weak currency")
A Constitution Museum to celebrate the 75th anniversary of the Constitution
The Constitution Museum will portray several milestones in its evolution, including important debates, discussions, individuals, and national and international events that have shaped it
 "A Constitution Museum to celebrate the 75th anniversary of the Constitution")
Ficci seeks PLI 2.0, tariff review to boost electric vehicle growth
For instance, eligibility for the auto original equipment manufacturer (OEM) PLI requires global group revenues of at least Rs 10,000 crore and investments in fixed assets of Rs 3,000 crore
 "Ficci seeks PLI 2.0, tariff review to boost electric vehicle growth")