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Economy

PM Modi launches financing facility of Rs 1 lakh crore under Agriculture Infrastructure Fund

PM Modi also released the sixth installment of funds of Rs 17,000 crore to 8.5 crore farmers under the PM-KISAN scheme. The Cabinet had approved the Scheme of financing facility for farmers as part of the Fund.

PM to launch financing facility under Agriculture Infrastructure Fund at 11 am

On Sunday, Modi will also release the sixth instalment of funds of Rs 17,000 crore to 8.5 crore farmers under the PM-KISAN scheme.

Signs of recovery? Export contraction just 5% in August: Piyush Goyal

Goyal, who also holds the railways portfolio, said, over the past 11 days, freight trains have doubled their speed and moved larger volumes of goods. The average speed of such trains is 46 km per hour, against just 23 km a year before.

India attracts $22 billion FDI during COVID-19: Amitabh Kant

Kant further said that almost 90 per cent plus of the USD 22 billion foreign direct investment in India during the pandemic came through the automatic route.

‘Music to ears for those worried about recovery’: India’s export has grown in July, says Piyush Goyal

The world is "looking for trusted partners...who have a rule of law, who have transparency in the system, who have a court of appeal, which have vibrant media, strong judiciary and democratic traditions.

India may need stimulus on demand side as growth begins to pick up: Arvind Panagariya

Panagariya also said that imposing import licensing will be a violation of WTO norms that India has signed.

Robust online dispute resolution can facilitate affordable justice delivery, ease of doing business: Amitabh Kant

He was addressing a virtual seminar on 'Unlocking Online Dispute Resolution to Enhance the Ease of Doing Business'.

Gadkari exhorts industry to identify sectors to boost exports, make India ‘self-reliant’

Asserting that a case study is in the offing based on three years of imports and exports, Gadkari said China's 70 per cent of exports pertained to ten sectors that included electrical machinery and equipment accounting for 26.09 per cent of its exports worth USD 671 billion and machinery including computers grabbing 10.70 per cent of its exports worth USD 417 billion.

UP revenue collection improves in July due to financial discipline, says FM Suresh Khanna

Revenue collection was hit in previous three months due to disruptions caused by coronavirus pandemic, he said.

India not interested to know money shortfall as hole won’t be filled; truth is as scarce as capital

It is in nobody’s interest to discover the extent of the money shortfall in India because the hole won’t be filled.

PM Modi to launch financing facility of Rs 1 lakh cr under Agri Infra Fund tomorrow; check details

PM Modi will launch the financing facility of Rs 1 lakh crore under the Agriculture Infrastructure Fund via video-conferencing tomorrow.

RBI’s repo rate cut unlikely in October too; these two factors will decide interest rates

Since the inflation reading will be uncomfortably high till the October policy, the space for additional easing will open only towards the December policy.

Converting risk into opportunity: These 4 sectors may see massive growth in post-Covid era

While the overall economy has taken a hit, some sectors have converted this threat into an opportunity and are set to see immense growth in the post-COVID era.

No harassment: Govt to soon bring in taxpayers’ charter, says Nirmala Sitharaman

Highlighting several steps taken by the government to protect honest taxpayers from unnecessary harassment, the minister said only a very few countries, such as Australia and the US, currently have such charters in place.

RBI sets up 5-member panel under KV Kamath to assist in loan recasts

Diwakar Gupta and TN Manoharan will be part of committee after they complete their terms in their respective organisations.

Rural jobs scheme won’t face any funds constraint, Centre tells MPs

Already half of the estimated 300 crore persondays for the whole year were created in the first four months of the current fiscal.

‘Will have to shut down’: SEZ-based solar manufacturers oppose basic customs duty on import of solar cells

If the BCD is imposed, those in the domestic tariff area who buy cells and modules from the SEZ units will have to pay the duty under the 2005 SEZ Act.

India’s forex reserves increase by $11.9 billion to hit $534.5 billion

Movement in the FCA occurs mainly on account of purchase or sale of foreign exchange by the RBI, income arising out of the deployment of foreign exchange reserves, external aid receipts of the government and revaluation of assets.

Consumer confidence plummets to all-time low in July: RBI Survey

However, the future expectations index (FEI) charted back into the positive territory, indicating signs of recovery for the year ahead.

Solar equipment makers in SEZs pitch for equalisation levy

The government is contemplating imposing basic customs duty (BCD) on solar equipment to discourage imports, mainly from China.