RBI must resume issuing LoUs, LoCs : parliamentary panel
The Parliamentary Standing Committee on Commerce said that the RBI must resume issuance of Letters of Undertaking (LoU) and Letters of Credit (LoC) for trade credit.
Growth in Core sectors
As per the official data released on 31st July, the eight core infrastructure sectors expanded to a 7-month high of 6.7 per cent in June on the back of better performance by cement, refinery and coal segments.
Government panel to study stressed power sector
Government has announced its intention to set up a high-level empowered committee under the Cabinet Secretary to resolve the stress in the thermal power sector.
FASTags
As per the latest data, around 26 lakh cars and trucks now use the radio frequency identification device (RFID)based FASTag system on windscreen to shorten their journey time.
Gold council to aid exports
The Centre has decided to set up a Domestic Council for Gold to aid exports of jewellery and to create an ecosystem to harness the true potential for jewellery making in the country.
Canada’s biggest public pension fund to step up investment in India
Canada’s biggest public pension scheme sees India as its main focus for investment in Asia as the country pours money into infrastructure development.
Rupee weakens to new closing low of 69.05
The rupee on Thursday plunged by 43 paise and closed below the 69 level for the first time at a historic low of 69.05 as the US currency rose to a one-year high level against global currencies.
DGTR proposes 25% safeguard duty on solar cells
The Directorate General of Trade Remedies (DGTR), a unit of the commerce ministry
has recommended imposing a 25% safeguard duty on solar cells from China and Malaysia.
India becomes sixth-largest economy
As per the World Bank’s updated data for 2017, India has edged past France and snatched the tag of the world’s sixth-largest economy from it.
Rise in exports
Exports during June 2018 were valued at US $ 27.70 Billion as compared to US $ 23.56Billion during June 2017 exhibiting a positive growth of 17.57 per cent.