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Economy

No better place to invest than in India, govt continuously working to bring reforms, says Nirmla Sitharaman

Responding to a question on why investors should allocate funds for India, she said that even if the court system is a bit delayed, India is a transparent and open society. 

New set of reforms: Discoms’ roles to be redefined, multiple private franchises in each area to recover full tariffs

The ministry has also laid down the broad contours of the revenue streams and the basic roles and responsibilities of the new franchisees.

Discoms get relief as Andhra HC stays Centre’s order

Effective August 1, it has been mandatory for discoms to open/maintain bank guarantee to buy power from gencos.

India imposes anti-dumping duty on certain steel imports

JSW Steel Coated Products had moved a petition before the DGTR for imposition of the trade remedial measure on imports

Maharashtra withdraws subsidy on milk powder exports

Gokul Milk MD DV Ghanekar said the GR issued by the government was being interpreted wrongly and there was no connection between the two sops. Therefore, the government should not stop this.

Livestock count touches 140 million, 6% lower than last census

Total number of buffaloes rose about 1%to 109.85 million while the the count of milch animals (in-milk and dry) in cows and buffaloes is 125.34 million, an increase of 6%over the previous census.

Coal shortage has impacted aluminium production: Nalco

Since the supply of coal has not improved, Nalco has been drawing around 190 MW of power from the state grid. As on date, 80 electrolytic pots in the smelter plant have been stopped.

IMF urges largest economies to be prepared to engage in coordinated policy action

Speaking at the IMF headquarters on the occasion of release of Fiscal Monitor, Gasper said that major economies should be prepared for coordinated action in case of a severe downturn.

Govt taps traditional skills to boost jobs, production; faces execution glitch on ground

Despite the good intention of increasing employability, skilled manpower, production and thus exports, the government has lagged on the execution front.

Stable outlook for global construction industry supported by infra spending: Moody’s

Revenue growth will be the strongest in China, averaging 6 per cent for rated construction companies over the coming 12-18 months, although down from 10 per cent in 2018. Growth will be driven by an increase in infrastructure spending, which is partially offset by weakness in the property and industrial sectors, it added.

IMF MD Kristalina Georgieva says labour force participation of women in India is quite low

According to the report titled 'Empowering Women & Girls in India for the Fourth Industrial Revolution', 95 per cent or 195 million women are employed in the unorganised sector or are in unpaid work.

Indo-US trade: FM Nirmala Sitharaman says talks between two countries to conclude soon

I don't want my statement to be sounding any bit with overconfidence.

Why not Nobel prize for China for poverty alleviation ask Chinese netizens

They are two different things." Xu noted that winning the Nobel Prize is not the criteria for judging a country's contribution and achievements in tackling poverty.

Kashmir remark sparks trade war between India, Malaysia; palm oil businesses suffer

India will replace Malaysian palm oil imports by buying more from Indonesia and increasing edible oil supplies from Ukraine.

India’s aim of being a $5 trillion economy ‘challenging’ but ‘realisable’, says FM Nirmala Sitharaman

The Modi government has underlined its priorities in the first 50 days of its second term, setting sights on making India a USD 5 trillion economy and hitting the ground running on spurring growth.

Fundamentals of economy ‘very very strong’, says CEA K V Subramanian

Large companies must play a critical role in clearing cash dues to smaller companies, he said at an event organised by industry chamber Ficci being attended by several corporates.

Rs 2,000 note introduced to curb black money, hoarding stopped from printing for same reasons

The Rs 2,000 note, which was brought into the system after demonetisation to curb black money and hoarding, has now been completely stopped from printing due to promoting the same problems. 

GST slab rejig: Govt can rationalise rates in many other items, but here’s what should be watched

Even as the government can go for rate rationalisation in many other items, the revenue and budgetary requirements of the states and the Centre must be considered, revenue secretary Ajay Bhushan Pandey.

India worst in ‘weight for height’ among children; 90% children up to two years age are malnourished

Over 90 per cent children between the ages of 6 and 23 months are not even fed a minimum acceptable diet in the country.

1/3 large firms not to switch to new tax regime; none planning new capex or pay higher dividends: Crisil survey

The government had last month announced a massive 10-12 percentage points reduction in corporate tax rate to 25.17 percent in a bid to push investment-ironically at a time when already the existing capacity across industries is heavily underutilised as demand keeps falling month after month.