Category: Indian Economy

Indian Incentives to Foreign Companies under make in India Scheme

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The Government of India is making continuous efforts under Investment Facilitation for the implementation of Make in India action plans to identify potential investors. Support is being provided to Indian Missions abroad and State Governments for organising events, summits, road-shows and other promotional activities to attract investment in the country under the Make in India banner. Investment Outreach activities are being carried out for enhancing International co-operation for promoting FDI and improve Ease of Doing Business in the country

Summary of Economic Survey-2020-21

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The Survey says, India’s mature policy response to this “once-in-a-century” crisis provides important lessons for democracies to avoid myopic policymaking and demonstrates the significant benefits of focusing on long-term gains. India adopted a unique four-pillar strategy of containment, fiscal, financial, and long-term structural reforms.

Indian received US$ 58.37 billion FDI inflow during April to November 2020

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Foreign Direct Investment (FDI) is a major driver of economic growth and an important source of non-debt finance for the economic development of India. It has been the endeavor of the Government to put in place an enabling and investor friendly FDI policy. The intent all this while has been to make the FDI policy more investor friendly and remove the policy bottlenecks that have been hindering the investment inflows into the country. The steps taken in this direction have borne fruit, as is evident from the ever-increasing volumes of FDI inflows being received into the country.

15th Finance Commission submitted its report to President Kovind

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This Report has been organised in four volumes. Volume I and II, as in the past, contain the main report and the accompanying annexes. Volume III is devoted to the Union Government and examines key departments in greater depth, with the medium-term challenges and the roadmap ahead. Volume IV is entirely devoted to the States. The Commission has analysed the finances of each State in great depth and has come up with State-specific considerations to address the key challenges that individual States face.

RBI released balance of payments data for April-June 2020

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On a balance of payments basis (i.e., excluding valuation effects), foreign exchange reserves increased by US$ 19.8 billion during April-June 2020 as compared with US$ 14.0 billion during April-June 2019. Foreign exchange reserves in nominal terms (including valuation effects) increased by US$ 27.9 billion during April-June 2020 as compared with US$ 17.0 billion in the corresponding period of the preceding year

International Investment Position of India-June 2020

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Net claims of non-residents on India declined for the fourth consecutive quarter and stood at US$ 345.7 billion at end-June 2020-The decline of US$ 29.7 billion in net claims during Q1:2020-21 was mainly due to an increase of US$ 27.9 billion in reserve assets. Among the constituents of foreign-owned assets, loans, foreign direct investment (FDI) and currency and deposits increased, whereas portfolio investment declined during the quarter.

India’s external debt was placed at US$ 554.5 bn-June 2020

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At end-June 2020, India’s external debt was placed at US$ 554.5 billion, recording a decrease of US$ 3.9 billion over its level at end-March 2020.The external debt to GDP ratio increased to 21.8 per cent at end-June 2020 from 20.6 per cent at end-March 2020. Commercial borrowings remained the largest component of external debt, with a share of 38.1 per cent, followed by non-resident deposits (23.9 per cent) and short-term trade credit.

No centralized monitoring system for cold storage facilities for farmers and traders

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Cold store

The information regarding capacity utilization, real time data regarding availability, cost etc on cold storage facilities for farmers and traders etc. is not centrally maintained by the Ministry. There is no real-time monitoring System. Government is implementing following schemes under which financial assistance is provided for setting up of cold storages throughout the country to bridge the gap between availability and required cold storage capacity