Page 319 - Economy
Gandhi Jayanti: MSME raises wages for spinners by 25%, weavers by 7%
According to the official statement by the ministry, a special discount of 20 per cent on Khadi products and 10 per cent on Village Industries products has been launched at the flagship Khadi Bhavan
 "Gandhi Jayanti: MSME raises wages for spinners by 25%, weavers by 7%")
Majority of Indian businesses view UK as key market for expansion
A proposed India-UK free trade agreement (FTA), currently in the fourteenth round of negotiations, is seen as holding out great potential to further boost this two-way business attraction
 "Majority of Indian businesses view UK as key market for expansion")
Govt picks three new external members for MPC ahead of key RBI meet
Govt appoints Ram Singh, Saugata Bhattacharya, and Nagesh Kumar as new external members of RBI's Monetary Policy Committee
 "Govt picks three new external members for MPC ahead of key RBI meet")
U'khand GSDP up 1.3 times in 20 months, per capita income at Rs 2.6 lakh
New policies brought by the state government, amendments in the old ones besides employment and self-employment programmes underway have contributed to the GSDP growth
 "U'khand GSDP up 1.3 times in 20 months, per capita income at Rs 2.6 lakh")
In a first, PM Modi to address this year's Kautilya Economic Conclave
The Conclave will be inaugurated by Finance Minister Nirmala Sitharaman on October 4
 "In a first, PM Modi to address this year's Kautilya Economic Conclave")
'Conflict escalation in West Asia likely to push logistics cost up'
Think tank Global Trade Research Initiative (GTRI) stated that the conflict is already hurting India's trade with countries like Israel, Jordan, and Lebanon
 "'Conflict escalation in West Asia likely to push logistics cost up'")
Will 'White Revolution 2.0' propel India's dairy sector to new heights?
India's overall milk production increased from 188 million tonnes in 2018-19 to 231 million tonnes in 2022-23 but the annual growth rate has dropped from 6.47 per cent to around 4 per cent
 "Will 'White Revolution 2.0' propel India's dairy sector to new heights?")
IOC rights issue deferral signals no GOI shift on disinvestment policy
Indian Oil's decision to withdraw its Rs 22,000 crore rights issue highlights the govt's reluctance to reduce its stake in state-run enterprises, as fiscal priorities shift to sectors like rail, roads
 "IOC rights issue deferral signals no GOI shift on disinvestment policy")
Govt notifies Apr 1, 2025, as sunset date for GST anti-profiteering
AKM Global, Partner-Tax, Sandeep Sehgal said the move aims to enhance efficiency by reducing the burden on CCI and ensuring cases are resolved under the tax-specific mechanisms of GSTAT
 "Govt notifies Apr 1, 2025, as sunset date for GST anti-profiteering")
After fire at Tata's Hosur plant, stockpiles steady iPhone production ship
Tata Electronics is investing Rs 6,000 crore in this plant, which will make Tata the second-largest iPhone assembler in India, following Foxconn. The fire did not impact this facility
 "After fire at Tata's Hosur plant, stockpiles steady iPhone production ship")
Retail inflation for industrial workers inches up at 2.44% in August
Retail inflation for industrial workers inched up marginally to 2.44 per cent in August against 2.15 per cent in July this year.
 "Retail inflation for industrial workers inches up at 2.44% in August")
India's manufacturing PMI cools to 8-month low in Sept as output slows
'Mild setback' in manufacturing growth across India, according to HSBC survey
 "India's manufacturing PMI cools to 8-month low in Sept as output slows")
GST mopup growth in September slowest in H1FY25 amid high refunds
Net numbers fall 3.9% to Rs 1.5 trn
FY23 wage share in NVA below the pre-pandemic level, shows ASI data
This is despite a fall in the share of profits to NVA and a rise in the share of wages and emoluments in 2022-23 compared to 2021-22
 "FY23 wage share in NVA below the pre-pandemic level, shows ASI data")
As Saudi oil supplies rebound, India gets bargaining power in imports
New Delhi will have a variety of supply choices in the next few months at competitive rates from Russia, Iraq, Saudi Arabia
 "As Saudi oil supplies rebound, India gets bargaining power in imports")
RBI's stern warning to gold financiers likely to take a toll on NBFCs
While large players may not be impacted, lesser-vintage firms could have to mend ways
 "RBI's stern warning to gold financiers likely to take a toll on NBFCs")
Trai's whitelisting norms: Majority of banks, insurers in compliance
Mandatory registration of URLs, APKs, OTT links in SMS traffic starts
 "Trai's whitelisting norms: Majority of banks, insurers in compliance")
10 years of Swachh Bharat: Over 82% households had toilet access in 2019-21
For the 2023-24 financial year, Rs 7,192 crore was allocated for the rural sector, while Rs 5,000 crore was earmarked for urban areas
 "10 years of Swachh Bharat: Over 82% households had toilet access in 2019-21")
Post-monsoon showers to be 'above-normal' this year, predicts IMD
Most parts of northwest India, some parts of northeast India and the southernmost parts are likely to receive normal to below-normal rainfall
 "Post-monsoon showers to be 'above-normal' this year, predicts IMD")
Govt announces 3 new external members ahead of key RBI MPC meet
Govt appoints Ram Singh, Saugata Bhattacharya, and Nagesh Kumar as new external members of RBI's Monetary Policy Committee
 "Govt announces 3 new external members ahead of key RBI MPC meet")