Plan and Policy

Plan & Policy

October trade deficit may widen to $10.8 billion

Dhanteras-induced demand for gold and rise in Brent crude oil prices may have widened India’s trade deficit in October, according to a poll.

“We expect trade deficit to widen to approximately $10.8 billion in October from $9 billion earlier, led by seasonal factors (dhanteras-induced gold import) along with a stronger sequential decline in exports growth as compared with that in imports growth,” said Derrick Y Kam, economist at Morgan Stanley.

Government was underprepared to replace banned notes: RTI reply

It now seems that the government was not fully prepared to replace scrapped Rs 500 and Rs 1,000 notes, 86 per cent bills in value terms, after it announced demonetisation on November 8, 2016.

The central bank started printing new Rs 2,000 notes only two-and-half months before the note ban.

“The first stage of printing process of Rs 2,000 bank-notes started at BRBNMPL on August 22, 2016.” an RBI subsidiary has said in response to an RTI query.

Despite winter, prices of veggies continue to soar

Consumers waiting for cooling down of vegetables prices with the onset of winter may have to wait longer. Prices of onion, tomato and potato, the most staple of all veggies, continue to rule high while others such as green peas are soaring without any respite.

Indo-US cooperation can rise beyond bilateral ties: Modi tells Trump

Prime Minister Narendra Modi on Monday held wide-ranging talks with US President Donald Trump and told him that both nations can rise beyond bilateral ties and work jointly for the future of Asia, reflecting their growing convergence on strategic issues in the Indo-Pacific region.

Demonetisation helped formalising large part of economy: Modi

The demonetisation of high-value currency notes along with a series of other reform measures have resulted in formalising a large part of the Indian economy, Prime Minister Narendra Modi said here today.

In an address at an ASEAN business forum, Modi also highlighting rolling out of the Goods and Services Tax (GST) as well as measures for bankruptcy and insolvency proceedings, besides the linking of Aadhaar database with financial transactions as part of broader policy initiatives to bring transparency in the financial sector.

Odd-even: AAP govt moves NGT seeking modification of its order

The Delhi government today moved the National Green Tribunal seeking modification of its November 11 order refusing to exempt women and two-wheelers from the odd-even car rationing scheme to tackle pollution.

The application, filed before a bench headed by NGT Chairperson Justice Swatanter Kumar, sought exemption of women drivers from the scheme, saying it may affect the safety and security of women.

It sought that the exemptions be allowed for one year till the government procured 2,000 buses for public transport to tackle lakhs of commuters.

Govt to dispose of 5 lakh tons of pulses buffer stock by March

The Centre, which is sitting on a buffer stock of 18 lakh tonnes of pulses, is aiming to dispose of up to 5 lakh tonnes of lentils by March 2018, a senior food ministry official said today.

Last week, the cabinet committee on economic affairs (CCEA) gave approval for distributing a part of the pulses buffer stock to central schemes like Midday Meal and other state-run agencies besides state governments.

"The recent CCEA approval will help clear at least 3.5 to 5 lakh tonnes of pulses from the buffer stock by end of this fiscal," the official told PTI.

October CPI seen at 3.45%

Retail inflation in the country may have inched higher in October owing to increase in prices of miscellaneous and personal care items and impact of rise in housing rent allowances, but will remain well below the Reserve Bank of India’s (RBI) medium-term outlook of 4 per cent, according a poll of economists.

India consumer price index-based inflation, the key policy target of the central bank is likely to have quickened to 3.45 per cent in October from 3.28 per cent in September, according to the median estimate of 18 economists polled by TickerNews.

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