Rs 2,000-crore fund infusion in ECGC to boost exports
The Cabinet Committee on Economic Affairs on Wednesday approved capital infusion of Rs 2,000 crore in the Export Credit Guarantee Corporation (ECGC) to enhance insurance coverage to micro, small medium enterprises exports.
India-US meet over trade issues
Commerce Ministry officials at the Joint Secretary level and delegation from US is to discuss ways forward to resolve the escalating trade issues between the U.S. and India.
Joint bidding for oil blocks with UAE
With the firms based in UAE, India is considering jointly bidding for oil blocks.The statement came on the sidelines of the MoU signing ceremony with Saudi Aramco and ADNOC for their investment in the Ratnagiri refinery.
Govt plans Pariwartan scheme for power sector revival
The government plans to warehouse stressed power projects totalling 25,000 megawatts (MW) under an asset management firm to protect the value of the assets and prevent their distress sale under the insolvency and bankruptcy code till demand for power picks up.
Current Account Deficit rises to 1.9 per cent for 2018 fiscal year
As per the RBI data, India’s current account deficit (CAD) jumped over three times to $48.7 billion, or 1.9 per cent of gross domestic product (GDP), in 2017-18, compared with $14.4 bn, or 0.6 per cent, in the previous financial year, driven by higher trade deficit.
SEBI panel to study option of direct overseas listings
The Securities and Exchange Board of India (SEBI) has constituted an expert committee to examine the possibility of allowing unlisted Indian companies to directly list equity overseas while also allowing foreign companies to list directly on the Indian bourses.
RBI finds no evidence of destocking by companies despite note ban, GST
Despite demonetisation and implementation of the Goods and Services Tax (GST), there was no evidence that listed private sector manufacturing firms have de-stocked or liquidated their inventories, the Reserve Bank of India (RBI) said.
Credit enhancement fund of 500 crore to be unveiled
Government is set to unveil Rs. 500¬ crore credit enhancement fund next month to facilitate infrastructure investments by insurance and pension funds.
FDI inflows fell 9% in 2017: UNCTAD
According to the latest World Investment Report, 2018, released by the United Nations Conference on Trade and Investment (UNCTAD), India’s foreign direct investment (FDI) outflows more than doubled in 2017 to $11.3 billion while FDI inflows fell 9% to $40 billion during the year.
NITI Aayog ropes in IBM to use AI in agriculture
The government’s policy think-tank NITI Aayog decided to partner with leading technology company IBM to develop a crop yield prediction model using artificial intelligence (AI) to provide real time advisory to farmers in “aspirational districts”.