Sunflower seeds import from Ukraine affected, domestic market banks on mustard
There is some uncertainty and prices of some of the edible oils have gone up by $200 in the international market. India imports sunflower seeds from Ukraine as imports are relatively cheaper even when India's sunflower seed production ranges between 60,000-75,000 tonnes. With a view to keep prices in check and also check the rise in prices of domestic edible oils due globally hike.
India bans Sea Ltd's Free Fire, ripple effect felt in Chinese stock market
Indian government's recent ban on Sea Ltd's marquee game Garena Free Fire, among 53 other Chinese apps, sent its stocks tumbling in the stock market. Indian government's recent ban on Sea Ltd's marquee game Garena Free Fire, among 53 other Chinese apps, sent its stocks tumbling in the stock market.
Centre selects 20 Cos under auto PLI scheme
Last year, the Centre had approved the PLI scheme for enhancing the country's manufacturing capabilities for 'Advanced Automotive Technology' (AAT) products with a budgetary outlay of Rs 25,938 crore. The AATs based vehicles include types that are capable of running on hydrogen and electricity. Accordingly, the scheme proposes financial incentives to boost domestic manufacturing of AAT products and attract investments in the automotive manufacturing value chain.
Nuclear energy share in power generation to be increased: Govt
The share of nuclear power in the total electricity generation is planned to be increased by adding more nuclear power capacity in the country, Union Atomic Energy and Space Minister, Dr Jitendra Singh said.
Centre to issue sovereign Green Bonds to finance green infra
In her Budget speech to the Parliament, Sitharaman said: "As a part of the government's overall market borrowings in 2022-23, sovereign Green Bonds will be issued for mobilizing resources for green infrastructure.""The proceeds will be deployed in public sector projects which help in reducing the carbon intensity of the economy."
IPO-bound LIC's Chairperson, MD's tenure extended by one year
Prior to the latest extension, the Centre had extended the term of M.R. Kumar from June 30, 2021 till March 13, 2022, which is when he was to complete three years in LIC. This tenure extension comes at a crucial juncture when the company is expected to launch its IPO in the current financial year ending March. The listing of LIC is poised to be India's biggest IPO to date, with the government looking to raise up to Rs 1 lakh crore by selling shares.
Budget FY23: Kotak Securities sees incentives on agri commodities value addition
Five states set to go for Assembly polls is another reason why the agriculture sector could be in focus during the Budget. "Committed to increasing farmers' income, the government of India can come up with various plans in Budget 2022-23 in spite of the recent withdrawal of three farm laws late last year," it said. Further, it is expected that the Centre may announce something in order to achieve self-reliance in edible oil and pulses.
V Anantha Nageswaran named new Chief Economic Advisor
Prior to this, Nageswaran has worked as a writer, author, teacher and consultant. He has taught at several business schools and institutes of management in India and in Singapore and has published extensively. He was also a part-time member of the Economic Advisory Council to the Prime Minister of India from 2019 to 2021. He was the Dean of the IFMR Graduate School of Business and a distinguished Visiting Professor of Economics at Krea University.
Real estate sector pins hope on Budget FY23 to sustain growth momentum
It's noteworthy that the government has also paid constant attention to the suggestions, advice and recommendations of the real estate sector and has made many changes in the rules and regulations accordingly. Due to these efforts, the real estate sector in the country has received a lot of impetus and has been able to come out of its slowdown days. However, some issues and key areas still remain, which need to be resolved soon.
Centre gives nod for amalgamating PMC Bank with Unity Small Finance Bank
As per the Reserve Bank of India, the amalgamation will come into force with effect from the date of the notification of the scheme i.e. January 25. "All the branches of the PMC Bank will function as branches of Unity Small Finance Bank Ltd. with effect from this date. "USFBL is making necessary arrangements to implement the provisions of the scheme," it said.