Economy

India can be among top-5 agri goods exporters with effective policies: Report

The report comes at a time when the government has announced some reforms in the farm sector by allowing farmers to sell produce outside the regulated APMC markets, and relaxing the Essential Commodit

rice, wheat, maize, bihar agriculture, agriculture in bihar, world bank

ADB approves $3 million grant to India to combat COVID-19

The grant, which is financed by the Japanese government, will be used to procure thermal scanners and essential commodities to strengthen the India's COVID-19 response, Asian Development Bank (ADB) sa

ADB, COVID-19 pandemic, ADB covid 19 fund fund for india, Asia Pacific Disaster Response Fund, CARES programme, latest news on coronavirus pandmeic

Modi’s free food scheme rescues farmers, poor: FCI procures record amount of wheat, rice this season

The FCI has procured 389.76 LMT wheat and 504.91 LMT rice in the just concluded crop season.

rice, wheat, PM garib kalyan ann yojana

Exporters lose over two-thirds of duty remission benefits after govt caps MEIS outlay

The MEIS would remain valid until December this year and is to be replaced with a more WTO-compatible scheme, RoDTEP, which reimburses all levies (that are not subsumed by GST) paid on inputs consumed

Merchandise exports have been contracting since March.

Rabi sales mostly profitable to farmers despite early market disruptions

For the April-June quarter as whole, mandi prices of many crops including masur and mustard were higher than the year-ago period, although many crops were still sold below their MSP levels.

rice, wheat, PM garib kalyan ann yojana

India’s GDP growth to lose momentum from Q3: Oxford Economics

It further said India fares the worst in its Asia recovery scorecard, implying that the country will likely take the longest among major economies to converge to its pre-coronavirus growth level. 

"The outlook beyond that, however, has turned more worrisome. The reopening drive is already beginning to hit roadblocks, amid the surge in COVID-19 cases," it observed. 

High frequency indicators showing material improvement, pointing at V-shaped recovery: CII

CII Director General Chandrajit Banerjee said that in order to nurture the nascent signs of recovery, it is important to mitigate the uncertainties that are currently prevailing regarding the restrict

"Corporates are unable to plan beyond a horizon of a few weeks, affecting all operations," he said.

World economy’s sputtering recovery threatened by flaring coronavirus

Even when a vaccine does come, there’s going to be a wait before it’s available globally, former Indian central banker Raghuram Rajan told an online conference last week organized by DBS Group Hol

The U.S. rebound is stalling after coronavirus infections spiked in a host of states.

Bihar doubles rice, wheat, maize crop yield; now, this widening concern remains: World Bank report

Bihar, India’s poorest state, witnessed impressive yield growth in each of its three principal crops over 2005–17.

rice, wheat, maize, bihar agriculture, agriculture in bihar, world bank

Digital India enables better services beyond metros, creates local employment

Digital has not only enabled the availability of better services beyond large cities but also helped in creating local employment.

On the one hand, digital transformation will be at the heart of the shift, enabling people to seamlessly work from wherever they choose.

IMF OKs $4.3 billion emergency loan to South Africa

The fact that Africa's most developed country for the first time approached the IMF for a loan is the latest sign of pain.

International Monetary Fund, IMF loan for south africa, Unemployment in south africa, African nations, coronavirus pandemic

Will RBI cut repo rate again in upcoming MPC meet? Experts fear cutting policy rates won’t help much

The MPC may consider another round of rate cut to signal its intent to address the increased growth concerns and provide comfort to the volatile markets.

RBI, Reserve Bank of India, shaktikanta das, repor rate, reverse repo rate

Another blow to China: India to cut low-quality imports from March 2021; BIS to frame new standards

BIS is set to frame quality norms for 371 items by March 2021. These 371 tariff lines include multiple segments, ranging from steel, chemicals, pharmaceuticals, and electrical machinery to furniture a

BIS, ram vilas paswan, BIS standards, china imports, boycott china

Modi’s Atmanirbhar Bharat: How palm oil cultivation can make India self-reliant in edible oil

The domestic consumption of edible oils in India has been outstripping the production and the gap between the two is quite significant which is being met by imports.

palm oil, palm oil imports, edible oil imports

One Nation One Ration card: Coronavirus spurs digitization of food rationing; govt eyes migrant return

The coronavirus outbreak is accelerating a push to digitize India’s food-rationing system, allowing citizens to receive entitlements anywhere in the country -- boosting labor mobility and the countr

Govt caps export sops under MEIS at Rs 9,000 crore for April-December

The latest offering will give consumers access to shows before telecast on TV, apart from select Zee5 and Alt Balaji shows, Zee Zindagi shows and over 90 Live TV channels.

MEIS, commerce ministry, piyush goyal, Nirmala Sitharaman, export sops, CBIC, RoDTEP, gst, gst in exports, exporters

In slow gear: Pace of recovery nowhere near comfort level

The pace of recovery remains stuck at around 30pp below normal, as worsening mobility and employment data offset higher power demand.

employment data offset, post lockdown, power demand, indian economy, Nomura

Taxmen dodge massive GST fraud as exporters claiming Rs 2,000 cr refund go missing on verification

As many as 1,474 exporters have gone untraceable after fraudulently claiming over Rs 2,000 crore of integrated GST (I-GST) refunds, in what shows the extent of tax evasion attempts in the GST regime.

GST aid to states 70% higher than cess fund, gulf to widen this fiscal

The guaranteed growth to states’ revenue during the time of slowing GST collection (FY 20 collection grew at 3.8% to Rs 12.2 lakh crore) growth has created a wide gulf between the states' protected

Aatmanirbhar Bharat package: 45% of targeted 2.5 crore farmers covered under Kisan Credit Card

The government has set Rs 15 lakh crore agriculture credit target for FY21, up from Rs 13 lakh crore last year.

Govt to go ahead with divestment of 23 PSUs cleared by Cabinet: Nirmala Sitharaman

Nirmala Sitharaman, in a conversation with Hero Enterprise Chairman Sunil Kant Munjal, said the government as part of the Aatmanirbhar Bharat package had announced opening up of all sectors for privat

Land bank and single window approvals: Piyush Goyal shares what Centre is planning to bring investment

Piyush Goyal said six states have already given their consent for land bank, and potential investors would be able to locate and identify land from their distant offices for industries, without freque

RBI signs USD 400 million currency swap pact with Central Bank of Sri Lanka

The SAARC currency swap framework came into operation on November 15, 2012, to provide a backstop line of funding for short term foreign exchange liquidity requirements or short-term balance of paymen

RBI, reserve bank of india, MPC, interest rate, real interest rate, policy rate, repo rate

Banks sanction about Rs 90,000 crore concessional credit to 1.1 crore KCC holders

As part of the Rs 20.97 lakh crore stimulus package, the government had announced Rs 2 lakh crore of concessional credit through KCC to 2.5 crore farmers, including fishermen and those involved in ani

Trade, technology at risk in US-China feud

China is also a top market for Apple and other U.S. tech brands, and is increasingly becoming a technology competitor with its own brands in smartphones, medical equipment and other fields.

Nirmala Sitharaman says govt will open all sectors for private firms; invites industry to tell what they want

Nirmala Sitharaman said that the government will open all sectors for private participation and the list of strategic sectors is yet to be revealed.

Indian economy to see sharp V-shaped recovery in Q3, Q4: NK Singh

While World Bank had projected Indian economy to contract 3.2 per cent, the International Monetary Fund (IMF) and Asian Development Bank (ADB) pegged it at 4.5 per cent and 4 per cent respectively.

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