Prime Minister Narendra Modi seeking to stoke local production of high-grade steel and reduce import dependence.
Overseas gold purchases fell to 762 metric tons in 2018, a 20 percent slump from the previous year.
China Seeks Talks With India to Push Asia Trade Pact, Sources Say
Crude palm oil duties for Malaysia will be cut to 40 percent from 44 percent from Jan. 1.
India tightened rules for foreign investment in e-commerce companies to check predatory pricing and deep discounts.
India’s Serious Fraud Investigation Office is probing alleged diversion and siphoning of funds from IL&FS.
Members, including government nominees, will press for some weak banks to be removed from so-called prompt corrective action list.
Reserve Bank of India to form a panel to study the transfer of its surplus reserves to the government.
The government’s demand is expected to further fuel tensions with the RBI.
Finance ministry is said to expect non-bank financiers and mortgage lenders to default within six weeks.
IL&FS’ government-appointed board will present the draft revival plan to the NCLT tomorrow.
The plan includes seeking duty waiver on a raft of products under the Asia Pacific Trade Agreement.
PM Modi’s administration is planning to increase tariff on items including furniture, chemicals and mobile phone components.
Former chief minister of Uttar Pradesh may be a front runner for prime minister if there’s a hung parliament, says analyst Bose.
India lowered retail fuel prices, offering relief to consumers hurt by surging crude oil prices.
Cut in steel, electronics said to be in range of 1.5%-4%.
India isn’t planning to raise tax on gold imports from the current 10% as it may lead to an increase in illegal shipments.
The tariff plan has been deferred to Nov. 2, according to a notification from the finance ministry.
India to Consider Merging Three State-Run Banks to Cut Bad Loans
A panel headed by Finance Minister Jaitley recommended a merger that will result in third-largest lender in the country by loans.
The finance ministry and RBI are in touch and the central bank is intervening in the currency market when needed, sources said.