Economic News

BharatPe can now operate as payments aggregator

Fintech unicorn BharatPe recently announced that it has received in-principle approval from the Reserve Bank of India (RBI) to operate as a Payment Aggregator.  The RBI’s authorization was granted to the company’s wholly-owned subsidiary, Resilient Innovations Private Ltd. This P ...

India one of the fastest-growing economies with low inflation levels: Nirmala Sitharaman in Lok Sabha

India one of the fastest-growing economies with low inflation levels: Nirmala Sitharaman in Lok Sabha Finance Minister Nirmala Sitharaman on Wednesday assured the Lok Sabha that the government will take measures to further ease inflation, which has dipped below the RBI's upper tolerance level ...

Centre tables bill in Lok Sabha for cooperative sector reforms

Centre tables bill in Lok Sabha for cooperative sector reforms The bill says that “the aggregate value of the paid-up capital and provision of reserves along with liquidity norms” of the bodies might be laid down by the Reserve Bank from time to time New Delhi Amendments to the Mul ...

Economic output will expand 7% in this fiscal and 6% in the next, the ratings company said

Economic output will expand 7% in this fiscal and 6% in the next, the ratings company said S&P Global Ratings on Monday cut India’s economic growth forecast for the ongoing fiscal by 30 bps to 7% amid slowing global growth. The rating company, however, said India would be less impacted ...

Trudeau to meet PM Modi, wants close economic ties with India not China

Trudeau to meet PM Modi, wants close economic ties with India not China Canada sees China as a disruptive global power fraught with geopolitical risks unlike India which is the largest democracy with shared interests in the Indo-Pacific and addressing global challenges. Prime Minister Narendra ...

Union Finance Minister Smt. Nirmala Sitharaman attends the 7th Annual Meeting of Board of Governors of Asian Infrastructure Investment Bank

7th Annual Meeting of Board of Governors of AIIB: Union Minister of Finance & Corporate Affairs Nirmala Sitharaman recently attended the 7th Annual Meeting of the Board of Governors of Asian Infrastructure Investment Bank (AIIB) via video conference. About: Every year at the Annual Meet ...

Morning brief: Chidambaram suggests PM meets Raghuram Rajan to discuss rupee, and all the latest news

Morning brief: Chidambaram suggests PM meets Raghuram Rajan to discuss rupee, and all the latest news Here are today’s top news, analysis, and opinion. Know all about the latest news and other news updates from Hindustan Times. Senior Congress leader and former finance minister P Chidamb ...

Rupee depreciates 6 paise to hit record low of 83.06 against US dollar

Rupee depreciates 6 paise to hit record low of 83.06 against US dollar At the interbank foreign exchange, the domestic unit opened weak at 83.05 against the dollar, then slipped further to quote 83.06, a fall of 6 paise over its previous close. The rupee depreciated 6 paise to a record lo ...

Eager to secure trade deal with India: UK home secretary Suella Braverman

Eager to secure trade deal with India: UK home secretary Suella Braverman With Diwali no longer the target deadline for a draft free trade agreement (FTA), Braverman sought to reiterate that the Liz Truss-led government remains determined to build on the momentum set by Prime Minister Narendra Mo ...

LEADS 2022 Survey Report: 15 States among achievers in logistics performance index 2022

LEADS 2022 Survey Report: Union Minister for Commerce and Industry, Consumer Affairs, Food and Public Distribution and Textiles, Shri Piyush Goyal recently launched Logistics Ease Across Different States (LEADS) 2022 survey report. Key Points: The LEADS is an indigenous data-driven index to ...

PM Narendra Modi launches multi-crore development projects in Himachal Pradesh

Development projects in HP: Prime Minister Shri Narendra Modi in Himachal Pradesh (HP) introduced various development projects during his visit in the state. Developmental Projects in Chamba, HP: PM Modi laid the foundation stone of two hydropower projects and launched Pradhan Mantri Gram S ...

Second United Nations World Geospatial Information Congress begins in Hyderabad

2nd UNWGIC 2022: Prime Minister Narendra Modi recently inaugurated the 2nd edition of the United Nations World Geospatial Congress (UNWGIC) 2022 in Hyderabad, Telangana. Key Points: It has been organized from October 10 to 14, 2022 by the United Nations Department of Economic and Socia ...

No one told India to not buy oil from Russia: Hardeep Singh Puri; 'What Europe buys in one afternoon...'

No one told India to not buy oil from Russia: Hardeep Singh Puri; 'What Europe buys in one afternoon...' "Have I been told by anyone to stop buying Russian oil? The answer is a categorical No," Union minister Hardeep Singh Puri said on the issue of India buying Russian oil. &ldq ...

Centre extends Pradhan Mantri Garib Kalyan Ann Yojana (PMGKAY) for another three months

PMGKAY-Phase VII: The Union Cabinet recently approved the extension for the Pradhan Mantri Garib Kalyan Anna Yojana (PMGKAY-Phase VII) for a further period of 3 months i.e. October to December 2022. The decision to extend this scheme which was scheduled to end on September 30 comes ahead of the f ...

Palm oil Alliance formed by 5 South Asian Countries

Asian Palm Oil Alliance (APOA): The apex edible oil industry associations from five palm oil importing countries in South Asia – India, Pakistan, Sri Lanka, Bangladesh and Nepal have announced the setting up of Asian Palm Oil Alliance (APOA). Note: Globoil Summit is one of the World’s ...

REC accorded with 'Maharatna' company status

‘Maharatna’ company status to REC: Power sector-focused non-banking finance company (NBFC) REC Ltd. has recently been accorded the status of a ‘Maharatna’ Central Public Sector Enterprise (CPSE) by the Department of Public Enterprises, under the Ministry of Finance (MoF) thus ...

SCALE app launched for skill development in leather sector

SCALE App: Minister of Education and Skill Development Dharmendra Pradhan recently launched the SCALE (Skill Certification Assessment for Leather Employees) app. It was launched during his visit to the Council of Scientific and Industrial Research (CSIR)-Central Leather Research Institute (CLR ...

Sebi comes out with framework for social stock exchange

New Framework for Social Stock Exchange: The Securities and Exchange Board of India (SEBI) has come out with a detailed framework for Social Stock Exchange (SSE). This came after the SEBI, in July, notified rules for SSE to provide social enterprises with an additional avenue to raise funds. ...

Dr Mansukh Mandaviya launches National Lists of Essential Medicines (NLEM) 2022

National Lists of Essential Medicines (NLEM) 2022: Union Minister for Health and Family Welfare, Dr Mansukh Mandaviya, launched National Lists of Essential Medicines (NLEM) 2022. Key Points: 34 new medicines have been added and 26 old ones from the previous list have been dropped. A total ...

India ranks 132 in UNDP's Human Development Index, amid a global fall

UNDP Human Development Index2021: In the recently released Human Development Report (HDI) 2021-22 rankings by the United Nations Development Program (UNDP), India continued its decline in the second consecutive year. Key Points: India has been ranked 132 out of 191 countries. In 2021, In ...

India overtakes U.K. to become fifth largest economy in the world

Fifth Largest Economy in the world: India has recently overtaken the UK (United Kingdom) to become the fifth largest economy in the world. Highlights: The assumption of India overtaking the U.K.  is based on the calculations done using the database of the International Monetary Fund (I ...

Commerce Ministry organises Workshop on Development of Enterprises and Services Hub (DESH) Bill 2022 with stakeholders

Development of Enterprises and Services Hub (DESH) Bill, 2022: The Department of Commerce recently organized a Workshop on Development of Enterprises and Services Hub (DESH) Bill, 2022 in Vanijya Bhawan, New Delhi. Key Highlights: The workshop was organized under the Chairmanship of Shri BV ...

Centre implements 'One Nation One Fertiliser' plan under 'Bharat' brand

One Nation, One Fertiliser Scheme: The Union Government recently ordered the implementation of ‘One Nation, One Fertiliser’ (ONOF)scheme. Key Points: The new scheme aims to bring about uniformity in fertiliser brands across the country under the single brand name of ‘Bhara ...

Central Govt Amends Legal Metrology— Packaged Commodities Rules 2011 For Ease Of Doing Business

Legal Metrology (Packaged Commodities) Rules 2011: The central government recently amended the legal metrology (packaged commodities) rules 2011. Key Points: It has been amended for ease of doing business and reducing the compliance burden for the garment or hosiery sold in loose or open. ...

Government of India notifies Foreign Exchange Management (Overseas Investment) Rules, 2022

Foreign Exchange Management (Overseas Investment) Rules, 2022: In a bid to promote ease of doing business, the Finance Ministry of Finance (MoF) recently released the Foreign Exchange Management (Overseas Investment) Rules, 2022. Key Points: The Foreign Exchange Management (Overseas Investm ...

Centre launches Paalan 1000 National Campaign & Parenting App

Paalan 1000 National Campaign & Parenting App: Union Minister of State for Health Bharati Pravin Pawar recently launched the Paalan 1000 National Campaign and Parenting App in virtual mode as part of the Early Childhood Development Conclave. Key Highlights: It was virtually launched by ...

Central Government awards GI tag to Mithila Makhana to boost farmers’ income

GI Tag for Mithila Makhana: The Central government recently awarded Geographical Indication (GI) tag to Mithila Makhana to boost farmers’ income. Highlights: With this move, growers will get the maximum price for their premium produce. Over five lakh farmers of Mithila region of Bih ...

Union Cabinet approves of enhancement of limit of ECLGS Scheme

Emergency Credit Line Guarantee Scheme (ECLGS):  The Union Cabinet chaired by Prime Minister Narendra Modi recently approved the enhancement in the limit of Emergency Credit Line Guarantee Scheme (ECLGS) by Rs 50,000 crore. Key Points: It has been increased from Rs. 4.5 Lakh crore to R ...

The Union Cabinet approves to restore Interest Subvention on short term agriculture loans

Interest Subvention on short term agriculture loans: The Union Cabinet chaired by Prime Minister Shri Narendra Modi has approved to restore Interest Subvention on short term agriculture loans. Key Points: Interest Subvention of 1.5 per cent will be provided to lending institutions including ...

Union Cabinet Approves the Extension of PMAY-U

Pradhan Mantri Awas Yojana (Urban): The Union Cabinet recently approved the proposal of Ministry of Housing Affairs (MoHUA) for the extension of Pradhan Mantri Awas Yojana (Urban) (PMAY-U)  till December, 2024. Key Highlights: The (PMAY-U)-Housing for All Mission was launched in June 2 ...

          
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