The wholesale price-based inflation rose to an eight-month high of 1.48 per cent in October, as manufactured products turned costlier. The WPI inflation was 1.32 per cent in September and zero per cent in October last year. This is the highest level of wholesale price index-based (WPI) inflation since February when it was 2.26 per cent.
The output of eight core sectors grew 8.9 per cent in June, mainly due to a low base effect and uptick in production of natural gas, steel, coal and electricity, official data showed on Friday. The eight infrastructure sectors of coal, crude oil, natural gas, refinery products, fertilisers, steel, cement and electricity had contracted by 12.4 per cent in June 2020 due to the lockdown restrictions imposed to control the spread of coronavirus infections. In May this year, these key sectors had recorded a growth of 16.3 per cent, while it was 60.9 per cent in April.
Sitharaman, who was holding the Commerce portfolio (Independent charge), was on Sunday promoted to the Cabinet rank as was Goyal.
The Appointments Committee of Cabinet has named Ravneet Kaur, a Punjab cadre IAS officer of 1988 batch, as chairperson of the Competition Commission of India (CCI). Kaur will hold the post for five years or until attaining the age of 65. She is the second woman to serve in an 'economic regulator' role after Madhabi Puri Buch, who was appointed chairperson of the Securities and Exchange Board of India last year and the first woman to head the country's chief national competition regulator.
With the shifting of the Foreign Investment Promotion Board to the finance ministry, the government has now reconstituted the board appointing Finance Secretary S Narayan as its chairperson.\n\n\n\n
As per the procedure of World Trade Organisation, consultation is the first stage of a complaint filed with the global trade body.
The ban has been in force since last Friday.
"We have close to about 175 press notes circulating... the Industry Ministry has taken a decision to put all of these together in a booklet so that the FDI rules become much simpler for a foreign investor."
Talks are also on with YES Bank for three other zones, in which the ministry hopes to attract private investment.
It floated a strategy paper for this purpose where it had recommended certain specific areas such as skill development, focus on research and development and channelising incentives in a proper manner.
Coal, crude oil, natural gas, cement, and electricity recorded a negative growth of 8.6 per cent, 5.4 per cent , 3.9 per cent, 4.9 per cent and 2.9 per cent, respectively, in August.
In July 2011, the country had received foreign investment worth $1.10 billion.
The wholesale price-based inflation shot up to an all-time high of 10.49 per cent in April, on rising prices of crude oil and manufactured items. Also, a low base of April last year contributed to the spike in inflation in April 2021. The WPI inflation was 7.39 per cent in March 2021, and (-) 1.57 per cent in April 2020. This is the fourth straight month of uptick seen in the wholesale price index (WPI)-based inflation.
The ED had arrested Chatterjee, who is also the Trinamool Congress secretary-general, on July 23 in connection with its investigation into alleged irregularities in the recruitment drives by the School Service Commission.
The government is likely to extend interest subvention for some export-oriented sectors for another year to sustain the current growth in exports. This will be announced during the coming Union Budget for 2011-2012.
Spurring the economy, currently in the throes of a slowdown, remains the prime focus for most ministries, but the government is also looking to make women's welfare and environmental protection key to policymaking in this term.
India is now a biz friendly nations, say Arun Jaitley.
Says allow companies with up to 49% FDI to invest in restricted sectors.
Slow growth in the key sectors would have implications on the IIP number as these segments account for about 41 per cent of the total factory output.
Candidates will be short-listed for interview on the basis of the information provided by them in their online application, the statement said.
With just a month left in this financial year, electric two-wheeler sales, so far, are at just 62 per cent of the ambitious target of 1 million units set for 2022-23 by the NITI Aayog. According to VAHAN data, compiled by the Society of Manufacturers of Electric Vehicles (SMEV), 620,006 units of electric two-wheelers were sold across the country in FY23 until February 21. Though the industry may miss the 1-million target, sales in FY23 are already up 146 per cent from 249,621 units sold in FY22.
Production of coal, crude oil, natural gas, refinery products, fertiliser, steel, cement and electricity contracted. The record contraction in the growth rate of eight core sectors will affect the Index of Industrial Production.
Export oriented units have approached the finance ministry for abolishing "sunset clause" in the Income Tax Act to get tax exemptions beyond March 2009, so as to attract more investments and maintain their competitiveness globally.
Shell gets govt's nod to import petrol, diesel
The government on Tuesday announced incentives worth Rs 450-500 crore (Rs 4-5 bllion) for exporters encouraging them to aggressively market products in China and Japan and build on the recovery witnessed since November last year.
The move is aimed at dealing with any possible emergency situation on account of a spurt in coronavirus cases.
It is for the first time in the history of Independent India that not a single Muslim is part of the Union Cabinet.
Will consider extending full support after reviewing the situation, says Sharma.
India and the US on Thursday said they are looking forward to the reconvening of the India-US Trade Policy Forum later this year to further enhance trade relationship and identify new areas for engagement.
The commerce and industry ministry has fixed a tentative export target of $104 billion for the next fiscal, against a target of $92 billion for the current fiscal.
The government on Thursday tweaked curbs on imports of laptops and computers as it allowed importers to bring in shipments of IT hardware from overseas on a mere 'authorisation' upon detailing quantity and value. The new 'import management system' is aimed at monitoring shipments of laptops, tablets and computers into the country without hurting market supply or creating a cumbersome licensing regime. The announcement is likely to provide relief to companies in the IT hardware segment in India as they had flagged concerns over the imposition of a strict licensing regime for importers.
The government decision to permit 100 per cent foreign direct investment in medical devices will take effect from January 21, the Commerce and Industry Ministry said on Tuesday.
After rising in September, Foreign Direct Investment (FDI) inflows in the country dipped by about 40 per cent to $1.4 billion in October over the same period last year.
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