NEW POLICY
Government to soon come out with a new shipbuilding, repair policy
The Ministry of Ports, Shipping, and Waterways is set to introduce a new Shipbuilding and Repair Policy under the 100-day action plan. Ambitious goals have outlined in Maritime India Vision 2030 and Amrit Kaal Vision 2047 to elevate India's shipbuilding industry globally. The initiative aims to revitalise the industry, increase the share of Indian-owned vessels in cargo transport, and seize a significant market opportunity by 2047.
Maharashtra government to unveil new policy for hoardings in Mumbai Metropolitan Region
The Maharashtra government, led by state Minister Uday Samant, will introduce a new policy on hoardings in the Mumbai Metropolitan Region following a recent tragic incident where 17 individuals lost their lives due to a hoarding collapse in Ghatkopar. The policy will be revealed after the legislative council poll results, with a committee headed by former Allahabad High Court chief justice Dilip Bhosle investigating the incident.
2015 skilling policy to be replaced with new one
A new policy on skilling in India, drafted by BCG, aims to create a skilled workforce to meet global demands, aligning with the government's vision and demographic dividend.
Why these Chinese working mothers don't want more babies
A woman leading a financial team earning more than her husband, another pursuing a dream to become a civil servant, and a budding influencer aiming to be the family breadwinner are all young mothers in China who have one thing in common: they are raising one child and don't want another, regardless of their husbands' opinions or the government's incentives aimed at addressing an aging population.
Morgan Stanley sees 7-35% upside for new-age stocks
"We see macro factors aligning (multiple re-rating for growth stocks in India and other regions, tight PE/VC money keeping the competitive environment benign) with micro factors (strong execution reflected in market share gains, margin improvement driving profit upgrade cycle) and supporting share prices," said Morgan Stanley's analysts in a client note.
Parents' fascination with English-medium schools no less than suicide: NCERT chief
NCERT Director D. P. Saklani criticized the prevalent preference for English-medium schools, despite many lacking trained teachers, calling it "no less than suicide." Highlighting that government schools now offer quality education, he emphasized the new National Education Policy’s focus on teaching in mother tongue to prevent knowledge loss and reconnect children with their roots and culture.
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Hyundai flags concerns with 'changes' by Indian govt ahead of planned Rs 25,000 crore IPO
Hyundai, which plans to raise Rs 25,000 crore through the Indian stock market by selling a 17% equity stake in the local unit, flagged the importance of stable policies for confidently making technological upgrades. They also highlighted concerns about localisation norms like PLI for automotive technology, aiming to reduce import dependence and lower manufacturing costs with significant initial capital investments.
Alcohol price in Gurugram rise: New price, why it increased, excise policy
Good days are over for Gurugram alcohol lovers as increased liquor prices have come into effect as part of Haryana's new excise policy. Gurugram, which was an alcohol haven for locals and residents in neighbouring Delhi and Noida, is not too cheap anymore when it comes to booze prices. The prices have gone up by up tp 20%, as the new excise policy came into effect on June 12.
Arunachal CM Pema Khandu to launch new industrial policy and reforms to boost investment and development
Arunachal Pradesh Chief Minister Pema Khandu announced the introduction of a new Arunachal Industrial Policy, aligned with the UNNATI Scheme, to attract investments. After being sworn in, Khandu convened a Cabinet meeting to launch Reforms 3.0, focusing on 24 citizen-centric initiatives. Priorities include 100% digitalization of Finance and Planning Departments, strengthening local administration, and forming the Institute for Transforming Arunachal. Plans also include a new educational policy, revamped Dulari Kanya Scheme, enhanced agricultural policies, and the development of Itanagar-Naharlagun. Additionally, new handloom, handicrafts, and tourism policies will be introduced to boost the economy.
Higher refund on premature exit from life insurance policy as IRDAI introduces new surrender value rule; check how much you will get
Life Insurance Policy Surrender Value Rule Changes: To curb mis-selling of life insurance plans, IRDAI has introduced a higher special surrender value for traditional endowment policies. Even if a policyholder exits a life insurance policy after the first year, he would get a part of his premium back if he has paid it. Till now, there has been no refund on exiting the policy in the first year. How much money will you get back if you prematurely exit your life insurance policy? Check calculation here.
China ready to work with New Zealand to upgrade ties as Chinese Premier Li visits Wellington
New Zealand has in recent years taken a less assertive line with Beijing on security matters than its Western partners in the Five Eyes intelligence sharing partnership and has sought a consistent foreign policy approach to Beijing that spans political parties and administrations. But Luxon told reporters Monday that there were areas where, in talks with Li, Wellington would "call out our differences and discuss those openly, too."
Putting things in order: Nat'l litigation policy finalised
Arjun Ram Meghwal signed the national litigation policy to expedite pending cases in courts.
The same old Modi govt: Portfolios indicate policy continuity
The allocation has changed only slightly with key portfolios remaining with the Modi 2.0 ministers. The allocation also indicates the Modi government might not be as susceptible to pressure from allies as many expect.
Narendra Modi pays tribute to Mahatma Gandhi at Rajghat ahead of swearing-in as PM
Around 1,100 traffic police personnel of the Delhi Police have been deployed and an advisory has been issued to the public for the traffic movement route arrangements have been made for the delegates as part of the arrangements for Prime Minister-designate Narendra Modi's oath ceremony on Sunday.
Mandate 2024 is about making economic governance the new govt's centrepiece
Even though India is experiencing an 8.2% growth rate, the real political question is whether the people feel this growth. Opinions will vary, but the essential takeaway is that much more needs to be done, as indicated by the mandate in Lok Sabha elections.
Startups seek support, policy continuity from new govt
As of 6.30 pm, data from Election Commission showed the incumbent BJP leading with 241 seats, opposition Congress with 98 seats -- leaving both parties short of the 272 Lok Sabha seats needed to form a government and increasing the chances of a coalition.
China's manufacturing surges, Caixin PMI shows, but global risks grow
To counter soft domestic demand and a years-long property crisis, China has boosted infrastructure investment and ploughed funds into high-tech manufacturing to bolster the broader economy this year.
US risks a ‘Forever’ trade war with China, says Economist Stephen Roach
The US is erecting new trade barriers that will hold back China’s sales of key products like electric vehicles, accusing Beijing of building excess capacity using state subsidies and flooding global markets with cheap products.
China's factory activity growth hits 2-year high, Caixin PMI shows
The Caixin/S&P Global manufacturing PMI rose to 51.7 in May from 51.4 the previous month, marking the fastest pace since June 2022 and beating analysts' forecasts of 51.5. The 50-point mark separates growth from contraction.
Mirwaiz hopes new govt in New Delhi takes realistic approach of dialogue for long lasting peace in Kashmir
Mirwaiz Umar Farooq addressed the gathering at Jama Masjid after four weeks as authorities had put him under house arrest. Following his release from over four year long house detention in September 2023, authorities have detained Mirwaiz on most of the Fridays and didn't allow him to go to Jama Masjid on different pretexts. Mirwaiz has also filed a petition in the J&K High Court challenging his frequent "informal house arrests."
Gas needs a new pricing meter
What could future policy look like? Pricing policy needs to be simplified and streamlined with global norms. Ensuring linkage to rolling averages of global benchmarks like Brent or other global benchmarks, along the C Rangarajan committee recommendations, would sustain the balance between consumers and producers. This should be implemented alongside more uniform gas pricing. One price could be benchmarked for LNG imports, another for domestically produced gas from regular fields, and one higher price for more difficult fields like ultra-deep and high-temperature high-pressure fields.
US Fed's favored inflation measure remains unchanged in April
The US Federal Reserve's key inflation gauge, the PCE price index, remained steady in April, indicating that interest rates are likely to stay high throughout the summer. Services prices, a major factor, remained elevated. The current inflation trend reduces the likelihood of early rate cuts and complicates President Joe Biden's reelection message on the economy. Despite expectations of moderating inflation later in the year, Fed officials, like New York Fed President John Williams, see no urgency in changing policy now. Personal income eased slightly in April, with personal savings remaining steady.
Fed officials see inflation falling, signal no rush to cut rates
Federal Reserve's John Williams believes monetary policy is restrictive, aiming to bring inflation down to the 2% target.
Fed's Williams says he doesn't feel urgency to cut rates right now
Williams stated that the economy's behavior over the past year provides ample evidence that monetary policy is restrictive in a way that helps achieve their goals. He made these remarks in the text of a speech prepared for delivery before a gathering of the Economic Club of New York.
Reliance General Insurance's new accident policy covers EMI, loan liabilities
Reliance General Insurance has introduced a new accident policy, Reliance Personal Accident 360Shield, offering coverage for an individual's financial liabilities, hospitalisation expenses, and aftercare needs in case of an incident. The policy aims to provide 360-degree protection to individuals and families from the impact of personal accidents. The policy includes legal assistance and worldwide coverage.
Health insurance claim rule change: Cashless claims must be cleared in 3 hours; insurer to pay hospital charges for delay in discharge, says IRDAI
Health insurance: The Insurance Regulatory and Development Authority of India (IRDAI) has released a master circular to streamline health insurance claim process. Previously, delays in claim approvals forced patients to stay in hospitals longer. Now, insurers have three hours to approve cashless discharge requests. Additionally, insurers will be liable for extra hospital charges due to delays.
National Strategic Policy doesn't have to be written down: CDS Gen Chauhan
Chief of Defence Staff General Anil Chauhan argued that India lacks a written national strategic policy, stating that it consists of policy, processes, and practices to succeed. He cited the successful combating of COVID-19 in a country of 1.4 billion people as evidence. Chauhan argued that a written document is not enough to achieve goals, and compared the situation to Israel, which has a policy and follows it.
India sets sights on global renewable ammonia market, takes strides towards sustainable energy leadership
India is positioning itself as a key player in the renewable ammonia market with several international trade agreements already inked and more on the horizon. According to S&P Global Commodity Insights, however, industry insiders emphasize the need for greater policy clarity and price stability to transform these agreements into binding deals.
Govt to hold 2nd meet with stakeholders to issue draft guidelines for new EV policy
The Ministry of Heavy Industries is drafting guidelines for the new electric vehicle policy to attract global automakers like Tesla. Automakers, including Vietnam's Vinfast, must invest as per the new norms to avail incentives under the Scheme to Promote Manufacturing of Electric Passenger Cars in India (SPMEPCI) approved on March 15, 2024.
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