-IANS The move to not extend non-captive mining lease will impact 334 mines belonging to cos like Tata & Vedanta. NEW DELHI: In a setback for the mining industry, the government is set to reject a proposal to extend non-captive mining leases of companies that are expiring after completing 50-year period in March, 2020. The move will impact about 334 mines belonging to companies such as Tata Steel, Vedanta Limited, Essel Mining, V.M....
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Merchandise exports affected by global slowdown but not export of services
Is it the case that the global economic downturn instead of shrinking domestic demand has affected our economy more? If the aforesaid statement is true, then ideally the trade related data should indicate improvement in our imports and deceleration in the country's exports. However, that is not the case and we get a mixed picture. A press release by the Ministry of Commerce & Industry dated 13th September, 2019 shows...
More »Gujarat's steel furnace industry to be next victim of economic slowdown -Ronak Chhabra
-Newsclick.in According to Gujarat Induction Furnace Association, well over 7,000 workers of the steel furnace industry in Gujarat have become jobless in last three months. On Monday, September 2, it was reported that the growth of the country’s eight core industries has plunged, according to the official data, to 2.1% in July as against 7.3% in the same period last year. This included the steel sector industry which has registered a decline...
More »Rice-wheat stocks at record high, govt clueless -Subodh Varma
-Newsclick.in Offtake from the Public Distribution System is stagnating although there are millions who need more food. Cereal stocks of wheat, rice and coarse grains maintained in the so-called central pool hit an all-time high of 742 lakh tonnes in July this year and in August were only slightly lower at 713 lakh tonnes, according to the department of food and public distribution’s monthly bulletin. Compared with 2015, grains stocks have zoomed...
More »Adopt a green growth strategy to boost the sluggish automobile sector
Among the measures announced by the Union Finance & Corporate Affairs Minister Smt. Nirmala Sitharaman on 23rd August, 2019 to arrest economic downturn, the following are noteworthy: * Allow Bharat Stage IV (BS-IV) vehicles (which are purchased till 31st March, 2020) to remain operational for the entire period of registration; * Government shall lift the ban on purchase of new vehicles for replacing all old vehicles by its various departments; *...
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