Page 16 - Economy News
Central bank may pause repo rate hike next month, finds SBI Report
RBI is likely to apply the pause button on continuous hikes in repo rates during next week's meeting of its monetary policy committee (MPC), says a report by the SBI research wing
 "Central bank may pause repo rate hike next month, finds SBI Report")
The snack bag of the future won't be made from single-use plastic
Most bags for potato chips and other crispy snacks are made with three layers of polymer materials. Polymers are made from petroleum, and they'll never decompose
 "The snack bag of the future won't be made from single-use plastic")
Increased draft depth needed to handle large vessels: Parliamentary panel
A parliamentary committee has stressed on the need for increasing the draft depth of almost all the ports of the country under the Sagarmala Programme according to their respective cargo profile
 "Increased draft depth needed to handle large vessels: Parliamentary panel")
EV three-wheelers will be popular due to favourable operating economics
Electric three-wheelers are expected to gain traction due to favourable operating economics, and the government's focus on cleaner means of transportation, domestic credit rating agency
 "EV three-wheelers will be popular due to favourable operating economics")
Govt sets up committee to monitor tur dal stocks to check hoarding
The government on Monday said it has constituted a committee to monitor the stock of tur dal held by importers, mills, stockists and traders in order to check hoarding and speculation
 "Govt sets up committee to monitor tur dal stocks to check hoarding")
Parliament approves Budget for 2023-24 amid ruckus by Opposition
The Finance Bill was passed in the Lok Sabha with 64 official amendments on March 24 and was sent to the Rajya Sabha
 "Parliament approves Budget for 2023-24 amid ruckus by Opposition")
Revised norms to digitise fund flow architecture in MPLAD scheme
Parliamentarians will now be given the entire corpus of Rs 5 crore in a single tranche at the beginning of the fiscal year, unlike two tranches of Rs 2.5 crore released every six months
 "Revised norms to digitise fund flow architecture in MPLAD scheme")
India mulls building LNG reserve to avoid future price hike or shortages
The government has proposed we should have more storage space for LNG so that when prices are lower we should store, and supply when there is crisis
 "India mulls building LNG reserve to avoid future price hike or shortages")
India's shrinking current account gap provides a reprieve for Rupee
Barclays Plc expects the gap in current account - the broadest measure of trade in goods and services - to be 1.8% of gross domestic product in the year starting April 1
 "India's shrinking current account gap provides a reprieve for Rupee")
Centre hikes MGNREGA wages, new rates to be applicable from April 1
In a notification released on March 24, the Union Ministry of Rural Development declared revisions to the rural job guarantee programme for the financial year 2023-24
 "Centre hikes MGNREGA wages, new rates to be applicable from April 1")
No second thoughts on Great Nicobar Port, says Sarbananda Sonowal
"An area of land has already been earmarked for their protected habitation. There are also steps being taken to take care of the coral zone and mangroves"
 "No second thoughts on Great Nicobar Port, says Sarbananda Sonowal")
Export benefits under RoDTEP extended to 18 textile items including sari
The government has extended export benefits under RoDTEP scheme to 18 items related to textiles sector, including saari and lungi, with a view to boost shipments of these goods
 "Export benefits under RoDTEP extended to 18 textile items including sari")
Power challenge: Summer comes at a price for discoms as energy bills soar
Increase in cost has pushed states to seek tariff hike in the range of 15-30%
 "Power challenge: Summer comes at a price for discoms as energy bills soar")
Govt caps maximum GST cess rate on pan masala; links rate to sale price
The government has capped the maximum rate of GST compensation cess that would be levied on pan masala, cigarettes and other forms of tobacco and linked the highest rate to their retail sale price
 "Govt caps maximum GST cess rate on pan masala; links rate to sale price")
Cabinet to impose price caps on gas to stave off rising rates to $10.7
The Union Cabinet is likely to soon consider imposing caps or a ceiling on price for majority of natural gas produced in the country to keep input costs for users in check
 "Cabinet to impose price caps on gas to stave off rising rates to $10.7")
Statsguru: Six charts show an uncertain year amid global headwinds
India is relatively better placed than much of the world.
 "Statsguru: Six charts show an uncertain year amid global headwinds")
Here's how China, India plan to overhaul their financial sector regulations
The plans by both nations have become more significant in the wake of the convulsions expected in the global financial market with the sudden collapse of the Silicon Valley Bank
 "Here's how China, India plan to overhaul their financial sector regulations")
Centre notifies revised MGNREGA FY24 wage rates; highest for Haryana
The wage hikes, which range from Rs 7 to Rs 26, will come into effect from April 1
Govt hikes duty on X-ray machine imports from 10% to 15% starting April 1
The government has hiked customs duty on import of X-ray machines and non-portable X-ray generators to 15 per cent with effect from April 1
 "Govt hikes duty on X-ray machine imports from 10% to 15% starting April 1")
Finance Bill: Withholding tax on royalty and technical fee doubled to 20%
The decision is part of the 64 amendments introduced through the Finance Bill 2023
 "Finance Bill: Withholding tax on royalty and technical fee doubled to 20%")
