Page 15 - Economy News
Export ban on wheat to continue; record output likely: FCI CMD
Wheat production will not be affected due to recent rains, confident of achieving the output target, he added
 "Export ban on wheat to continue; record output likely: FCI CMD")
Goods and services exports to cross $760 bn in FY23: Piyush Goyal
Asserts that India's self reliance drive isn't about closing doors but opening them wider, with the aim of letting competitive and comparative advantages determine international trade
 "Goods and services exports to cross $760 bn in FY23: Piyush Goyal")
UPI merchant transactions over Rs 2,000 to carry charge of 1.1% from Apr 1
National Payments Corporation of India, through a circular has recommended Prepaid Payment Instrument charges for UPI payments
 "UPI merchant transactions over Rs 2,000 to carry charge of 1.1% from Apr 1")
Too early to predict any damage to wheat crop because of heat stress: Govt
The government on Tuesday said it is too early to predict any damage to the wheat crop due to heat stress in February.
 "Too early to predict any damage to wheat crop because of heat stress: Govt")
Initial field work for annual survey of services sector begins for 2022-23
However, the survey itself may not come up before the end of 2024
 "Initial field work for annual survey of services sector begins for 2022-23")
GitHub fires its entire India engineering team, over 140 employees hit
Open source developer platform GitHub has laid off its entire engineering team in India, its second largest developer community after the US
 "GitHub fires its entire India engineering team, over 140 employees hit")
RIL, 10 other firms bag 39,600 MW solar capacity order under PLI scheme
As many as 11 companies, including Indosol, Reliance and First Solar, have bagged solar photovoltaic manufacturing projects of a total 39,600 MW capacity under the second tranche
 "RIL, 10 other firms bag 39,600 MW solar capacity order under PLI scheme")
Indian corporates likely to see 10%-12% capex growth in FY24: Fitch
The rising capital expenditure trend of Indian corporates is likely to continue and grow at 10%-12% a year during the next fiscal year to March 2024, Fitch Ratings said in a release on Tuesday
 "Indian corporates likely to see 10%-12% capex growth in FY24: Fitch")
Wind industry can expect record installations by 2025, says report
The wind industry can expect record installations in both onshore and offshore markets by 2025 with 680 GW of new capacity expected by 2027, said the Global Wind Energy Council annual report 2023
 "Wind industry can expect record installations by 2025, says report")
Niti Aayog and health ministry planning Ayushman 2.0, middle class in focus
The scheme is also exploring options to get a partial contribution or a top-up from individuals covered under the scheme
 "Niti Aayog and health ministry planning Ayushman 2.0, middle class in focus")
Capital expenditure of states shows improvement as year comes to a close
The biggest improvement year-on-year (YoY) has been by Uttar Pradesh, Maharashtra, Gujarat, and Karnataka
 "Capital expenditure of states shows improvement as year comes to a close")
EPFO raises interest rate to 8.15% for FY23 from 8.1% last year: Report
Earlier, in March 2022, EPFO had lowered the interest on EPF to over a four-decade low of 8.1% from 8.5% in 2020-21
 "EPFO raises interest rate to 8.15% for FY23 from 8.1% last year: Report")
Ahead of polls, states lure farmers with interest payout for defaulters
In the last assembly polls in MP, Chhattisgarh, and Rajasthan, the incumbent BJP lost power to Congress due to discontent among the farming class that saw consecutive years of low prices
 "Ahead of polls, states lure farmers with interest payout for defaulters")
Tobacco in gunny bags to attract 28% GST, 71% compensation cess: AAR
No new product emerges from the post-coating process, rules authority in Gujarat
 "Tobacco in gunny bags to attract 28% GST, 71% compensation cess: AAR")
India to cut gas prices from April 1 after review panel report: Sources
India's cabinet is set to adopt a gas panel report this week, which has recommended capping the price for most local gas at $6.50 per million British thermal units (mmBtu) in April
 "India to cut gas prices from April 1 after review panel report: Sources")
Uttar Pradesh govt set to launch 'New Ayodhya' project in the next 2 months
Recently, the Yogi Cabinet had cleared a slew of infra and development projects worth Rs 465 crore for Ayodhya
 "Uttar Pradesh govt set to launch 'New Ayodhya' project in the next 2 months")
S&P keeps India's economic growth forecast unchanged at 6% in FY24
S&P Global Ratings on Monday kept its forecast for India's economic growth unchanged at 6 per cent in the fiscal year starting April 1, before rising to 6.9 per cent in the following year
No new incentive plan for services exports under foreign trade policy
Services exports, however, grew over 36 per cent in February at $29.15 billion, according to the Department of Commerce's estimates
 "No new incentive plan for services exports under foreign trade policy")
Indian govt has 54 Chinese investment proposals pending: Finance Minister
The Indian government has received about 54 foreign direct investment proposals from China since last year that are pending for approval, said Finance Minister Nirmala Sitharaman
 "Indian govt has 54 Chinese investment proposals pending: Finance Minister")
India needs to boost reforms push to raise potential growth: World Bank
The report said addressing the aftermath of financial sector distress in India could unlock significant growth
 "India needs to boost reforms push to raise potential growth: World Bank")
