Daily News - Monday, 17 June 2024
Govt mulls easing visa curbs for skilled Chinese workers (Financial Express)
The Indian government plans to ease visa restrictions for Chinese technicians involved in installing machinery, similar to procedures under the PLI scheme, aiming to expedite projects and reduce delays. The new standard operating procedure (SOP), expected to roll out soon after inter-ministerial consultations, will streamline visa applications for a six-month period, crucial for machinery installation and workforce training. Despite these relaxations, broader scrutiny and restrictions on Chinese investments and operations in India remain unchanged, reflecting ongoing geopolitical considerations.
Prices of key medical devices fall by a quarter since Covid (Financial Express)
Since the onset of the pandemic, prices for eight key medical devices have dropped by an average of 25.74%, significantly enhancing their availability and demand, according to a Datawise report commissioned by the National Minorities Development and Finance Corporation. These devices include pulse oximeters, nebulisers, glucometers, cardiac stents, knee implants, oxygen concentrators, blood pressure monitors, and digital thermometers, with notable price reductions observed across the board, such as 39% for nebulisers and 32% for digital thermometers. Despite improvements, challenges persist, including regional price disparities and the need for subsidies or insurance coverage to further alleviate consumer costs and enhance accessibility.
India, Norway’s Equinor in talks for oil reserve, LNG (mint)
The Indian government is engaged in negotiations with Equinor, a Norwegian energy giant, to participate in India's strategic petroleum reserves (SPR) and secure long-term LNG supply from Equinor's assets in the US and Qatar. These discussions aim to bolster India's energy security amidst global supply uncertainties, especially with ongoing production cuts by OPEC and its allies. If successful, this would mark Equinor's second commitment to India's SPR program after a similar deal with Abu Dhabi National Oil Co (Adnoc), highlighting India's strategy to enhance energy resilience through strategic partnerships.
Big Retail asked to declare pulse stock every two weeks (mint)
The Indian government has mandated that large private retail chains and online grocers like D-Mart, Reliance Retail, BigBasket, Amazon, and Flipkart disclose their pulse stocks twice a week to combat soaring prices. This initiative aims to prevent stockpiling and ensure transparency in supply amid rising inflation in food prices, particularly for pulses such as chana dal, tur, urad, masur, and moong. Despite efforts to stabilize prices through enhanced disclosure and monitoring, challenges persist due to low carryover stocks and weather-dependent crop outcomes.
‘FM to hold pre-Budget meeting with industry chambers on Jun 20’ (The Indian Express)
Finance Minister Nirmala Sitharaman is engaging in pre-budget consultations with industry chambers jointly on June 20, aiming to gather input from various sectors until June 25. The Confederation of Indian Industry (CII) is separately submitting proposals to the Revenue Secretary on June 18, advocating for increased public capex and privatization. The upcoming Budget for 2024-25, expected in mid-July, will likely focus on sustaining economic reforms, enhancing public expenditure, and aligning policies towards achieving long-term economic goals like making India a Viksit nation by 2047, as per PTI reports and S&P's positive outlook on India's economic policies.
