Read daily news briefs on the economic issues collected from different sources.
The Finance Minister has allowed Regional Rural Banks (RRBs) to raise funds from the capital market. According to the new draft guidelines RRBs can raise funds via Initial Public Offerings (IPOs), rights issues, and private placements. [BL]
Road and Transport Minister of India Nitin Gadkari is supposed to advocate for subsidies and GST benefits for hybrid and CNG vehicles. He said that he will try to convince the Finance Minister to the promotion of such environment-friendly vehicles. [BL]
The prime minister of India will announce the national logistics policy with a focus on the seamless movement of goods across the country. This policy will be aligned with the Gati Shakti plan. [BL]
As the global slowdown is not showing a strong revival sign, global agency Fitch has reduced India’s GDP growth by 80 basis points to 7% for the year 2022-23. [BL]
The small Indian app developers and startups may have to pay a commission of 6% on in-app purchases of audio, video or book content and 11% on gaming purchases. These commissions will be applicable if a developer chooses an alternative payment mechanism on the play store. [ET]
Alok Aditya (Junior Research Fellow at ISEC)
Anuradha (Research Assistant at ADRI)