Page 12 - Economy News
Revamp of Credit Guarantee Scheme, limit on ceiling for guarantees enhanced
With a view to revamp the Credit Guarantee Scheme for Micro and Small Enterprises, Credit Guarantee Fund Trust for Micro & Small Enterprises (CGTMSE) issued guidelines
 "Revamp of Credit Guarantee Scheme, limit on ceiling for guarantees enhanced")
RBI likely to follow Fed, keep rates higher for a while, says economist
The RBI's six-member rate-setting panel will meet April 3, 5 and 6 to likely raise the benchmark rate for a seventh successive time
 "RBI likely to follow Fed, keep rates higher for a while, says economist")
World Bank says recoveries in developing Asian economies losing steam
Developing economies in Asia have mostly regained ground lost during the pandemic but are seeing their recoveries stall as productivity lags, the World Bank said in a report released Friday
 "World Bank says recoveries in developing Asian economies losing steam")
'India ready for rupee trade with countries facing currency crises'
Changes have been made in the FTP to allow international trade settlement in Indian Rupee with a view to making INR a global currency
 "'India ready for rupee trade with countries facing currency crises'")
Govt releases Foreign Trade Policy 2023, eyes $2 trn export target by 2030
India is likely to end this fiscal year with total exports of $760-770 billion as against $676 billion in FY22
 "Govt releases Foreign Trade Policy 2023, eyes $2 trn export target by 2030")
States may fall short of spending targets, posing growth risk: Economists
The states - including Maharashtra, Uttar Pradesh and Gujarat - are estimating expenditure to have risen 21.5% in 2022-23, and plan to increase it further by 11% in 2023-24
Current saving, investment rate insufficient for 8% growth: India Ratings
Savings and investment rates in the financial year (FY) 2021-22 were 30.2 per cent and 29.6 per cent, respectively
 "Current saving, investment rate insufficient for 8% growth: India Ratings")
The Big 5 Viral Acharya mantras to benefit from China Plus One strategy
"It is hard therefore to find many products outside India that are manufactured by Indian firms," he said
 "The Big 5 Viral Acharya mantras to benefit from China Plus One strategy")
UPI transactions will be free until govt reviews, says NPCI MD & CEO
The NPCI quickly clarified that the circular was only pertaining to PPI-based merchant transactions on UPI and the basic UPI transactions remain completely free
 "UPI transactions will be free until govt reviews, says NPCI MD & CEO")
G-20 Sherpas' meeting: India to fund digital payments infrastructure abroad
"This is about spreading India's soft power and also enabling Indian private sector, which is well versed in these technologies, to get business opportunities abroad," a second senior official said
 "G-20 Sherpas' meeting: India to fund digital payments infrastructure abroad")
Either G20 cooperates or banking crisis deepens, says Jeffery Sachs
'The year 2023 was already shaping up to be a difficult year, even before the banking crisis'
 "Either G20 cooperates or banking crisis deepens, says Jeffery Sachs")
G20 issues bigger than the Russia-Ukraine war, says Amitabh Kant
Kant said that India had presented its deliverables to G20, and negotiations had begun on the text of these deliverables
 "G20 issues bigger than the Russia-Ukraine war, says Amitabh Kant")
India remains a bright spot among global economies: Piyush Goyal
"We aim to use technology in every sphere to serve the people of India in a big way. Today, we are showcasing our developmental model to the rest of the world," Goyal said
 "India remains a bright spot among global economies: Piyush Goyal")
Guns vs Butter-III: Much of Army's war-fighting equipment remains vintage
The third of a five-part series looks at the state of the Army's weaponry and the need for greater funding to transition to a more state-of-the-art arsenal
 "Guns vs Butter-III: Much of Army's war-fighting equipment remains vintage")
Imported drugs for rare diseases to be exempt from customs duty
Normally, medicines attract a basic customs duty of 10%, while some life-saving drugs or vaccines attract a concessional rate of 5%, or are completely exempt from duties
 "Imported drugs for rare diseases to be exempt from customs duty")
Govt signs Rs 19,600-crore deal to buy patrol, missile vessels
The construction of these ships will generate employment of 4.5 million man-days over a period of nine years
 "Govt signs Rs 19,600-crore deal to buy patrol, missile vessels")
Rising sugar prices posing threat, putting pressure on global inflation
The jump in sugar prices has already worsened the impact of inflation in the UK with shoppers paying more for baked goods, sweets and fizzy drinks
 "Rising sugar prices posing threat, putting pressure on global inflation")
Era of low interest, easy credit over, inflation pronounced in India: S&P
The era of low interest rates and easy credit is over in the Asia Pacific region. Amid greater market volatility and slower Asia-Pacific economies
 "Era of low interest, easy credit over, inflation pronounced in India: S&P")
Why does this ex-deputy guv of RBI want India's biggest firms dismantled?
Part of his reasoning was that consumers could not fully benefit from input price declines as Big 5 companies control manufacturing of all major sectors as well as retail trade and telecommunications
 "Why does this ex-deputy guv of RBI want India's biggest firms dismantled?")
Sugar getting even pricier now poses new threat to global food inflation
Prices of refined sugar surged to the highest in more than a decade this week, while the raw variety is near to the costliest in over six years
 "Sugar getting even pricier now poses new threat to global food inflation")
