India’s central bank estimates GDP to contract by 8.6% in Q2; enters recession for first time

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India’s GDP is likely to contract by 8.6 per cent for the July-September period, which means India will enter into a recession for the first time in history in the first half of this fiscal with two successive quarters of negative growth due to the COVID-19 pandemic, as per an RBI official reported by the Press Trust […]

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UP government to spend Rs 2600 crore in creating fresh agri storage facility, says chief minister

The government of the Indian state of Uttar Pradesh is slated to spend around Rs 2,600 crore in creating over 5,000 storage units for agriculture produce across the state, Chief Minister Yogi Adityanath told an a conference organised by industry conference CII on Friday. He said improving agriculture infrastructure was a top priority of his […]

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Miners urges government to withdraw curbs on iron ore sale in Karnataka, India

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The community of mining dependents in Karnataka have urged the government to remove restrictions on iron-ore sale from the state, saying it will help create additional one lakh jobs in the mining sector and bring great relief amid COVID-19 crisis. Karnataka Gani Avalambithara Vedike (KGAV), which represents mining dependents, lauded Prime Minister Narendra Modi’s ‘Vocal […]

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Global trade growth may slow down in the first half of 2019: WTO

Trade tensions, political risks and financial volatility will continue to pressure global trade, and trade weakness is likely to extend into the first quarter of 2019, the World Trade Organization (WTO) cautioned. The global trade watchdog’s latest World Trade Outlook Indicator (WTOI) was 96.3, the weakest since March 2010 and below the baseline value of […]

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India’s new biofuels policy allocates Rs 5,000 crore for second generation ethanol plants

The Union Cabinet has unveiled a comprehensive biofuels policy which, among other things, allows farmers to divert excess crop produce for biofuels production and sets aside Rs 5,000 crore to help establish second-generation (2G) ethanol refineries. The National Biofuels Policy 2018 seeks to expand the range of feedstock available for ethanol production beyond sugar molasses, […]

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Niti Aayog India recommends removal of agriculture from Essential Commodities Act

NITI Aayog, earlier known as the Planning Commission, has pitched to exclude agricultural commodities from the Essential Commodities Act. The Aayog is of the view that the step would reduce handling cost, reduce prices and farmers will get an adequate return. According to the Economic Times, on condition of anonymity, a senior official affirmed that […]

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Wall Street regulator gives green signal to bitcoin platform for derivatives trading

The U.S. Commodity Futures Trading Commission announced its unanimous approval of digital currency-trading platform LedgerX for clearing derivatives. LedgerX is a derivative-trading platform for bitcoin and other cybercurrencies like Ethereum’s ether. Initially it plans to clear bitcoin options, the commission said in a statement. The firm plans to launch bitcoin options in early fall, and ethereum options […]

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