Headlines: India gears up for Omicron; the quality of banks’ assets will deteriorate

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Railroad cars to clinics in Ayush, India, beds ready with Omicron rise

With the increase in Omicron cases and the rapid filling of hospital beds across the country, various states and the Center are keeping all backup options ready. These include Ayush centers and Covid-care rail coaches in standby mode. Read more

IT, pharmaceutical and electronics departments request additional funds in PLI push

Key ministries, such as pharmaceuticals, electronics and information technology, and new and renewable energy, have requested approval of additional funds for their production-linked incentive programs (PLIs), following a better than expected response from the industry and also to take a further step up to national manufacturing. Read more

Asset quality will deteriorate, but banks are resilient enough: RBI report

The asset quality of Indian banks could deteriorate, but lenders have enough capital to withstand a severe shock, according to the semi-annual financial stability report, prepared taking into account contributions from all financial regulators and released on Wednesday by the Reserve Bank of India (RBI). Read more

The center risks again missing its disposal target because BPCL remains unsold

With the uncertainty hanging over the privatization of Bharat Petroleum Corporation Limited (BPCL), the government’s divestment target of Rs 1.75 trillion for FY22 is unlikely to be met. The Center could lower its divestment revenue target in the revised estimates, even if it is on track to launch the IPO of public sector giant Life Insurance Corporation of India (LIC). Read more

2021, the year that was: Farmers, protests and three dead laws

Perhaps the year 2021 will go down in Indian history as a year where there has been a paradigm shift in the way agriculture and agriculture-related issues are handled in the country. The enactment of the three controversial farm laws last year, the sustained unrest that followed, and the sudden and rather unexpected repeal of the laws are events that have the potential to shape the agricultural sector in the years to come. Read more

Buffer Trading: Can India Afford to Market Its Fuel Reserves?

Can’t India, a $ 2.7 trillion economy aspiring to $ 5,000 billion, afford to store $ 1 billion worth of oil as a buffer for energy security? Or can India, surrounded by hostile neighbors and dependent on imported crude, afford to market its energy security? And, if so, what is strategic about Strategic Petroleum Reserves (SPRs)? Read more

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