Banikinkar Pattanayak

Modi govt plans more features to flagship schemes to push inclusion

Govt working on adding new features to Jan Dhan, Mudra, Suraksha Bima Yojana and Atal Pension schemes.

Banking & Finance News

Trade winds: Big jump in electronics exports allays deficit fears

Massive electronics imports and their debilitating impact on trade balance have long pressured the country’s current account, but a spurt in electronics exports since last year has pleasantly surprised policymakers.

Economy News

PSU disinvestment: Govt to sell stake in 3 insurers to New India Assurance

Another option being considered is to merge all the four companies, instead of the proposed three, to create an LIC-type mega insurer in the general insurance space and avoid undercutting each other.

Markets News

Farm exports: Cabinet secretary-led panel may review curbs

In December 2018, the Cabinet Committee on Economic Affairs (CCEA) had approved an agriculture export policy that proposed to keep the outbound shipment of processed and organic items free of any restriction.

In March 2018, the commerce ministry had released the first draft farm export policy, seeking a stable trade policy regime with limited government interference for key farm items. News

Steel cost of engineering exporters to drop

Engineering goods exporters complain that local steel producers are charging them 15-20% more than the price at which the latter are shipping out to other countries.

For its part, the steel industry on Tuesday demanded that a 25% safeguard duty on ad valorem basis be imposed on six product categories News

Export subsidy programme to be phased out to meet WTO norms

MEIS to go; instead, tax remission scheme, now only for garments, to cover more sectors

export subsidies, WTO, Merchandise Exports from India Scheme, Piyush Goyal, central GST, GNI threshold News

Budget 2019 booster! Not just PSBs, 3 state-run insurance firms may get Rs 4,000 crore capital infusion

Union Budget 2019: Target is to shore up solvency of state-run insurers National Insurance, Oriental Insurance and United India Insurance

Budget 2019 News

Anti-fraud drive: New govt may bolster SFIO’s probe muscle

With increasing instances of corporate frauds, the new government could consider substantially raising the strength of the Serious Fraud Investigation Office (SFIO) to bolster its capacity to investigate

sfio, ibc, jet airways News

Asset liability management: NHB to tighten norms for housing finance companies

HFCs could be asked to submit their ALM data with the NHB on a weekly basis and in a more granular fashion.

ebi News

Modi 2.0: New govt plans big policy push in first 100 days. Here’s the priority list

A comprehensive strategy is being firmed up to counter the impact of the Trump-led trade war while ensuring that the strategic partnership with the US doen't falter.

Economy News

Individual insolvency: Relief from usury for the poor soon

The regulations will be among the first set of measures to be implemented under the new government, whatever its political hue.

Money News

In gold we trust: India’s household gold reserves valued at over 40% of GDP

Factoring in the central bank’s reserves (608.8 tonne) and an import duty of 10%, the domestic value of the gold stocks at most of the known sources in the world’s second-largest consumer will be even higher.

gold reserves, India household gold reserves, World Gold Council, gold price, gold schemes,  GDP,  Akshaya Tritiya festival  News

Tit for tat: US suspends self-handling rights of Indian airlines

The US has ordered the suspension of self-handling rights of Indian carriers at American airports, retaliating under a bilateral air services agreement against denial of similar concession to US passenger airlines here, sourc

For its part, India has asked the US to refrain from implementing the order. News

Lok Sabha polls spur cane payment to UP farmers, yet arrears too high

Cane payment to farmers in electorally-sensitive Uttar Pradesh — the epicentre of the sugar sector crisis — picked up pace since the poll dates were announced by the Election Commission but the arrears still remain stubbo

Cane crushing started around mid-November 2018 in UP and mills are still purchasing the raw material, although the peak crushing season was over by end-April. News

No tariff king: India’s import duties low, Donald Trump’s jibe misplaced

US President Donald Trump may call India the “tariff king”, but data show New Delhi has exercised “maximum self-restraint” in taxing imports.

Economy News

NBFC crisis: It’s a solvency issue manifest as liquidity crisis, says CEA Krishnamurthy Subramanian

The CEA asserted that the onus of ensuring the quality of ratings lies solely with the rating agencies; they can’t just crib that companies didn't provide enough information to them to be able to discharge their duty effici

Industry News

Will lose $3.2 billion if ICT tariffs scrapped, China will benefit, India tells US

Even that incentive amount might have dropped further in FY19 when the US first dropped 50 items from the list of items eligible for incentives and later, in March, announced the withdrawal of the programme in 60 days.

Economy News

India may ease price control regime for medical devices on US request

India has also sought to allay US concerns over latest e-commerce policy as well as Draft Personal Data Protection Bill, 2018, suggesting Washington’s observations will be considered “in a fair manner”, the source said.

India, indian economy, US, trade barriers, indian trade barriers, economy news

Gold rush: Jewellers make desperate bid to woo customers

Popley Group has launched a special edition of gold coins, which are being offered at cheaper rates, and is also selling luxury watches at a 25-50% discount.

Akshaya tritiya: know what is gold carats and its importance News

Pouring in: Duty hikes in September 2018 fail to check imports

Importantly, defying the duty hike, imports of household refrigerators rose by 12.9% between October and February last fiscal, those of compressor for ACs and refrigerators increased by 19.9%, washing machines (less than 10 k

Economy News

Pulwama-Balakot effect: India-Pakistan trade halves in February, plunges headlong since

While imports were expected to drop, given that India had slapped a 200% duty on purchases from Pakistan after the withdrawal of the MFN status, the massive fall in exports suggests Islamabad has quietly raised its non-tariff

Economy News

A make in India success story: Big surge in exports of electronics items, imports also at record high

Analysts say two aspects stand out. First, the damaging impact of the October 2014 shutdown of Nokia’s manufacturing plant in Tamil Nadu on exports is largely offset now.

Electronic imports, exports signals change, imorts of phone segment, electronics imports, India Cellular & Electronics Association News

Trade winds: Exports falter under Modi government’s watch, but value-added segments do well

Some of the segments among the ones that record decent value-addition levels (15-40%) seem to be contributing more to the overall export basket in recent years.

export, import, india economy, us economy, us, donald trump News

‘BJD govt has compromised long-term development for short-term political gains’

"The state government has been largely indifferent to the cause of the farmers for the last 19 years (Patnaik's rule). The very fact that 198 blocks out of a total 314 blocks have less than a 35% irrigation coverage suggests

Elections News

Big drop in trade deficit with China? Only if Hong Kong is not counted

Similarly, while its exports to China rose 31% up to January, its despatches to Hong Kong declined nearly 14%. This upset India’s trade equlibrium with Hong Kong —from a surplus of $4 billion in FY18 to a deficit of $4.7

India’s imports from China dropped 5% from a year before, its purchases from Hong Kong jumped almost 59%. News

States procure more than Centre on GeM portal in FY19

GeM was set up in August 2016 to improve transparency as well as efficiency of the public procurement system. The Centre has now made it mandatory to buy such items through GeM for its various departments.

States procure more than Centre on GeM portal in FY19 (Representational image) News

Developing country tag: US seeks review at WTO, targets China, India

Analysts say India, with poor per capita income and HDI ranks, can’t be compared with China, Singapore or South Korea.

Economy News
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