Page 360 - Economy
Unemployment rate will drop below 3%, no concern for job losses: Mandaviya
Union Labour Minister Mansukh Mandaviya assured the Lok Sabha that employment generation efforts by Prime Minister Narendra Modi has led to significant reduction in the unemployment rate
 "Unemployment rate will drop below 3%, no concern for job losses: Mandaviya")
India's power generation capacity rose to 4.46 GW in last decade: Govt
In a reply to Rajya Sabha, Union Minister of State for Power Shripad Naik, said installed capacity of coal-based power has increased from 1,39,663 MW in March 2014 to 2,10,969 MW in June 2024
 "India's power generation capacity rose to 4.46 GW in last decade: Govt")
India should grow at 7-10% for 20-30 yrs to avoid middle income trap: NITI
PM Modi said emphasis on skill, research, innovation and job based knowledge necessary for making 'Viksit Bharat'
 "India should grow at 7-10% for 20-30 yrs to avoid middle income trap: NITI")
Most of the PSUs in Chhattisgarh are in very bad shape: CAG report
The long-term loans in 28 state PSUs comprised Rs 977.03 crore advanced by the central and state governments and Rs 12,900.87 crore raised from other sources
 "Most of the PSUs in Chhattisgarh are in very bad shape: CAG report")
Andhra Pradesh, Bihar package likely to cost Rs 20-30K crore to Centre
While Andhra Pradesh is expected to receive Rs 15,000-20,000 crore, Bihar is likely to receive Rs 5,000-10,000 crore in FY25
 "Andhra Pradesh, Bihar package likely to cost Rs 20-30K crore to Centre")
Rupee may bounce back in Aug on weak dollar, US rate cut hopes: BS poll
But some see it hitting 84/$ tracking Asian peers
Meity receives lion's share of PLI scheme and semiconductor outlay
The good news is that the automotive sector, which provides incentives for electric vehicles and components, is finally taking off
 "Meity receives lion's share of PLI scheme and semiconductor outlay")
Russian oil prevails in India's July imports despite refinery shutdowns
Low discounts fail to impact pecking order; continuing reliance on Russian supplies helps prop up GRMs of refiners
 "Russian oil prevails in India's July imports despite refinery shutdowns")
Removal of angel tax for startups to help attract investors: Piyush Goyal
Angel tax (income tax at 30 per cent rate) was imposed on funding raised by unlisted companies, or startups, if their valuation exceeded the company's fair market value
 "Removal of angel tax for startups to help attract investors: Piyush Goyal")
Statsguru: Six charts explain the agriculture sector's next decade
In her Budget speech, Union Finance Minister Nirmala Sitharaman announced a review of the agriculture research framework to increase productivity and develop climate-resilient crop varieties
 "Statsguru: Six charts explain the agriculture sector's next decade")
High PSF provision in Budget 2024 revives buzz about merger with PSS
But PM-AASHA allocation indicates otherwise
 "High PSF provision in Budget 2024 revives buzz about merger with PSS")
Tax certificate not mandatory for all travelling abroad: Finance Ministry
Applicable to those involved in serious financial irregularities, tax dues over Rs 10 lakh
 "Tax certificate not mandatory for all travelling abroad: Finance Ministry")
Need to become a $30 trn economy with $18,000 per capita income: NITI paper
NITI Aayog in a paper titled 'Vision for Viksit Bharat @ 2047:An Approach Paper' said India needs to avoid the Middle-Income trap and carefully work towards breaking out of it
 "Need to become a $30 trn economy with $18,000 per capita income: NITI paper")
Bill for NFIR likely to be introduced in next session, says DEA Secretary
The objective is to build a public infrastructure for credit-related information, and the right information can be made available by the NFIR to lending agencies
 "Bill for NFIR likely to be introduced in next session, says DEA Secretary")
Commerce Secy Sunil Barthwal meets Russian, UAE ministers on trade issues
Barthwal held these meetings on the sidelines of the 14th BRICS (Brazil, Russia, India, China and South Africa) Trade Ministers' meeting in Moscow on July 26
 "Commerce Secy Sunil Barthwal meets Russian, UAE ministers on trade issues")
NCCF to sell tomatoes at subsidised price in Delhi-NCR from July 29
Move comes as tomato prices have surged due to supply disruptions caused by recent rains in producing centres, while Consumer Affairs Ministry data showed retail tomato prices at Rs 77 per kg in Delhi
 "NCCF to sell tomatoes at subsidised price in Delhi-NCR from July 29")
Hike in capital gains taxes won't adversely impact market sentiment: Goyal
The Commerce minister termed the criticisms against the hike in capital gains tax and securities transaction tax in derivatives trading as fear-mongering
 "Hike in capital gains taxes won't adversely impact market sentiment: Goyal")
PM Modi urges states to attract FDI, suggests 'investor-friendly charter'
Investor friendly charter, zero poverty and demographic management plans highlights of NITI Aayog meet
 "PM Modi urges states to attract FDI, suggests 'investor-friendly charter'")
CMs of 10 states, UTs skip governing council meeting: NITI Aayog CEO
The absentees were Kerala, Tamil Nadu, Karnataka, Telangana, Bihar, Delhi, Punjab, Himachal Pradesh, Jharkhand and Puducherry, he said adding 'It is their loss if they did not participate'
 "CMs of 10 states, UTs skip governing council meeting: NITI Aayog CEO")
Steel ministry knocks on finance ministry's door for RINL support
The request to finance ministry is to help RINL continue as a going concern
 "Steel ministry knocks on finance ministry's door for RINL support")