BUSINESS
Trade deficit may continue to widen in 2nd half of FY22
Kotak Economic Research report noted that imports in August increased further as economic activity continued to normalize and exports continued to be strong but have stagnated at the current levels, for now, leading to a widening of the trade deficit. Imports in August increased 51.5 per cent to $47 billion while increasing sequentially by 1.3 per cent (July: $46.4 billion).
700 organic farming clusters set up in UP
According to the government spokesman, a special campaign has been launched in 11 districts of the state and along with the objective of cleaning the Ganga River, organic farming is being done on both the banks of the river. Due to this initiative, not only the cost of agriculture has been reduced but the agricultural production and income of the farmers has also been increased.
FPIs make net investment of over Rs 16,500 cr in August
The net investment in the equities segment stood at Rs 2,083 crore, while that in the debt segment stood at Rs 14,376 crore, including those debt investments made through VRR. Further investments in hybrid securities, consisting of the investments in REITs and InvITs stood at Rs 97 crore.
Sivasankaran to appeal in NCLAT against liquidation order
The matter is listed for hearing on Monday. In its order in August, the NCLT Chennai said that Sivasankaran application under section 12 (A) does not stand. NCLT has also dismissed the SBI application. Siva Industries and Holdings Limited (Siva Industries) will go into liquidation after the NCLT rejected the application. This is as per provisions of the Insolvency and Bankruptcy Code where 90 per cent of the lenders had not given approval.
Petrol price cut by 15 paise in Delhi after 3-day hiatus
In the national capital, petrol price was cut by 15 paise to Rs 101.19 per litre, from the previous level of Rs 101.34 per litre. Similarly, petrol prices in the other key cities of Mumbai, Chennai and Kolkata were reduced to Rs 107.26, Rs 98.96 and Rs 101.62 a litre, respectively, down from the previous levels of Rs 107.39, Rs 99.08 and Rs 101.72 a litre.
As glitches galore I-T portal, can govt's faceless scheme become its face saver
Ever since its June 7 launch, the revamped I-T portal developed by Infosys has which was suppose as to usher taxpayers into a new era of tax administration, has become a system generating heartburns with problems at it each step be it faced in generating passwords, linking data for past returns, and filing of returns.
Govt looks at revising coal stock rules to address fuel shortage
At a review meeting of thermal power plants, Union Power Minister R.K. Singh asked the power secretary to look at the possibility of reducing the benchmark of 14 days of coal stocks to 10 days for identifying and diverting coal to plants with extremely depleted stocks. Once implemented, this could address the issues of a number of thermal plants having critical level of coal supplies while others functioning with adequate or excess coal stocks.
Punjab, American Chamber of Commerce sign pact
The MoU between Punjab American Chamber of Commerce in India (AMCHAM India) was signed by CEO, Invest Punjab, Rajat Agarwal and AMCHAM India Program Director Wing Cdr Rajiv Anand in the presence of Principal Secretary (Investment Promotion) Hussan Lal.
Equities likely to rise further but valuations cast a concern
Accordingly, FPIs expect an accelerated economic recovery in India based on healthy macro numbers and monsoon rains. They now await July industrial production figures slated to be released next Friday.
India - Sri Lanka's 2nd largest trading partner - worried as economic crisis hits island nation
India is Sri Lanka's second-largest trading partner after China. "Exporters are concerned with the recent development in Sri Lanka particularly the sharp depreciation of the currency as well as the tightening of forex requirements," Ajay Sahai, Director General, Federation of Indian Export Organisation told India Narrative.
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