Economy

Date Heading Details
27-Jan-2020   12:45 Hrs IST Structural reforms, fiscal measures need to be continued to boost growth: RBI Governor <p align="justify">In order to provide a durable push to demand and boost growth, the Reserve bank of India (RBI) Governor Shaktikanta Das has said that structural reforms and fiscal measures may have to be continued and further activated. </p><p align="justify">Das further said that the RBI constantly updates its assessment of the economy based on incoming data and survey-based information juxtaposed with model-based estimates for policy formulation. He also added that this approach helped the RBI to use the policy space opened up by the expected moderation in inflation and act early, recognizing the imminent slow down before it was confirmed by data subsequently.<br></p><p align="justify">Besides, RBI Governor said that the government is also focusing on infrastructure spending which will augment the growth potential of the economy. As per the Das, states should also play an important role by enhancing capital expenditure which has a high multiplier effect.<br></p>
27-Jan-2020   10:51 Hrs IST India, US decide to engage in talks in good faith to resolve dispute over steel import duty <p align="justify">India and the US have decided to engage in talks in good faith to sort out the dispute over American import duties on certain Indian steel products, wherein Washington is yet to fully comply with the WTO rulings. The WTO dispute resolution body has ruled against the US in this case stating that the high duty imposed by America on certain hot-rolled carbon steel flat products from India was inconsistent with various provisions of the WTO's Agreement on Subsidies and Countervailing Measures. The US agreed to resolve the matter amicably as the appellate body of the WTO's dispute settlement mechanism has become dysfunctional since December 2019. <p align="justify">America has failed to fully comply with a six-year-old ruling of the WTO's dispute panel over import duties on certain Indian steel products which has endorsed India's belief that not only the practices followed by the US, the law itself violates WTO agreements. The compliance panel has found that the US has not complied with the rulings and recommendations of the dispute panel. India has dragged the US in WTO in 2012, alleging that Washington's move to impose high duties on imports of certain Indian steel products are global trade rules.<p align="justify">In December 2014, the WTO dispute panel had ruled against the US imposing high countervailing duties on imports of certain Indian steel products. Later the WTO's appellate body too ruled that the high duties imposed by the US were inconsistent with various provisions of the Agreement on Subsidies and Countervailing Measures. Then in June 2017, India again moved the WTO alleging that America has not fully complied with those rulings. India had stated that a reasonable period of time for the US to comply with the WTO's ruling had expired on April 18, 2016.</p>
27-Jan-2020   10:05 Hrs IST Govt likely to soon decide on permitting Indian companies to list equity shares overseas
27-Jan-2020   09:42 Hrs IST Govt to complete 3 of 22 expressways, green corridors in next three years: Gadkari
27-Jan-2020   09:17 Hrs IST India can end up with real GDP growth of 5% this financial year: Bibek Debroy
24-Jan-2020   12:44 Hrs IST NITI Aayog to develop National Data & Analytics Platform
24-Jan-2020   11:15 Hrs IST Domestic two wheelers demand likely to remain weak in near-term: ICRA
24-Jan-2020   10:11 Hrs IST Indian economy well-poised to take off: Piyush Goyal
24-Jan-2020   09:35 Hrs IST RBI raises investment limit for FPIs in government, corporate bonds
24-Jan-2020   09:18 Hrs IST RBI conducts purchase, sell government securities in 4th special OMO auctions