NEW POLICY
Prioritising India-UK ties, FTA in focus under new PM Keir Starmer
The India-UK FTA talks began in January 2022 but were stalled in the 14th round as both countries stepped into their general election cycles this year. India saw the new government in the first week and on Friday, it was the UK's. "There is no question in my mind that India will continue to be important for the new Labour government," said Rahul Roy-Chaudhury, Senior Fellow at the International Institute for Strategic Studies (IISS).
Some way to go before reaching US inflation target, says New York Fed’s Williams
Inflation in the US has decreased from its pandemic-era highs, but more efforts are necessary to bring consumer prices down to the desired level, said John Williams, president and CEO of the Federal Reserve Bank of New York. Speaking on Friday at the Reserve Bank of India, Williams addressed global market speculations about when interest rates might be lowered in the world's largest economy.
Uttar Pradesh receives proposals worth Rs 40,000 crore under new semiconductor policy
The Uttar Pradesh government said it has received project proposals worth over Rs 40,000 crore under its new scheme to incentivise semiconductor manufacturing. It also aims to rope in global investors.
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.
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.
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.
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'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.
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.
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