Index of Eight Core Industries shows sectoral production shifts with refinery, cement and electricity leading growth
The Index of Eight Core Industries records the combined index at 129.1 for December 2017, a 4.0% increase year on year, and reports 4.0% cumulative growth for April-December 2017-18; sectoral indices and growth rates are provided showing varying monthly and year to date performance across coal, crude oil, natural gas, refinery products, fertilizers, steel, cement and electricity, with underlying industry weights scaled to a combined ICI weight of 100.

Public procurement digitalisation expands with new GeM version, standardised specifications and national seller onboarding to increase transparency
GeM 3.0 implements a scaled digital overhaul of the national procurement portal to standardise catalogue management, enable empirical price comparison, template based bidding and electronic instruments, and institutionalise transaction transparency. A National Sellers On boarding Campaign supports migration by training sellers, offering registration assistance and a contact centre, while a Managed Services Provider and partners will deliver and operate the upgraded platform to increase scalability and broaden seller participation.

Loan agreement to finance rural road construction under PMGSY advances connectivity, maintenance and climate resilience measures.
A loan agreement finances construction and climate resilient upgrading of all weather rural roads under PMGSY across five States as the First Tranche of a Second Rural Connectivity Investment Program, funding specified kilometres of roads to improve connectivity and socio economic access. The program mandates civil works contracts to include a five year post construction maintenance obligation, promotes cost efficient and resource conserving construction (including use of waste materials), incorporates climate risk road design measures, and provides training for technical personnel in road safety and maintenance.

Public sector bank reforms tie capital support to measurable EASE standards in customer responsiveness, risk management and MSME lending.
EASE mandates PSBs adopt a six-theme reform linking capital infusion to measurable reforms: enhance customer responsiveness via digital channels and simplified processes, strengthen responsible banking through a Stressed Asset Management Vertical, Risk Appetite Frameworks, and stricter pre/post-sanction segregation; accelerate credit and MSME lending with time-bound digital processing, TReDS registration and single-point MSME officers; rationalise overseas operations, institute One-Time Settlement platforms, and require Board-approved strategic plans with quarterly monitoring and performance-evaluation of Whole Time Directors.

Anti-dumping investigation into Di Methyl Formamide may lead to duties if dumping causes material injury.
An anti-dumping investigation has been initiated into imports of Di Methyl Formamide from China, Germany and Saudi Arabia after a domestic application; the authority found sufficient evidence of dumping and will investigate whether that dumping caused material injury to the domestic industry and may recommend imposition of anti-dumping duty if injury and causation are established under the multilateral trade remedies framework.

Banks recapitalisation and reform: presentation announces policy measures and supporting documentation for restructuring and regulatory adjustments.
Banks' recapitalisation and reform: a PowerPoint presentation and press release presenting proposed measures for recapitalising banks, governance and operational reform themes, and regulatory adjustment proposals, available as a downloadable PDF for policy communication purposes.

Unique identity number acceptance required to enable diplomatic entities to record invoices and claim tax refunds.
Suppliers and e-commerce platforms must accept and record the UIN of diplomatic missions, consulates, and specified UN or multilateral organisations on tax invoices to enable those entities to claim tax refunds. Recording the UIN is a regulatory invoice-recording requirement under the GST framework; refusal to record it may attract punitive action. Suppliers should verify UINs using the GST Common Portal taxpayer search before issuing invoices. Treating such supplies as ordinary business-to-consumer sales means no additional tax impact on suppliers.

Strategic sale of public equity enables vertical integration in the oil sector and consolidation across state enterprises.
The Government completed a strategic sale of its 51.11% equity in HPCL to ONGC; an Alternative mechanism chaired by the Finance Minister approved ONGC's price bid and sale terms. The acquisition integrates upstream, mid stream and downstream capacity, creating a vertically integrated oil and gas group expected to realize economies of scale, manage investment risk and price volatility, while HPCL remains a Central Public Sector Enterprise.

Additional borrowing reduction limits market borrowing after review of revenue receipts and expenditure patterns in the programme.
A fiscal review of revenue receipts and expenditure patterns led the government to assess that reduced additional borrowing through dated Government securities will suffice to meet financing needs; amounts not accepted in recent auctions will be withdrawn from the forthcoming borrowing programme and removed from the notified issuance schedule.

Smart Cities Mission training in remote sensing and GIS to build technical capacity for urban water management and planning.
NITI Aayog and the Ministry of Housing and Urban Affairs supported a GIAN course on Remote Sensing and GIS for Sustainable Urban Planning at IIT Kanpur's outreach centre to develop technical skills for urban management-with emphasis on water resource management, pollution control and siting of water treatment facilities-and to build trained manpower in support of the Smart Cities Mission through interagency and academic participation.

Wholesale Price Index signals easing inflation as month on month WPI fell and food inflation moderated.
Wholesale Price Index (Base 2011-12=100) for December 2017 registered a month on month decline and a lower annual rate of inflation than the previous month. Primary Articles fell led by Food Articles and Minerals while Crude Petroleum rose. Fuel & Power increased driven by Mineral Oils and Coal. Manufactured Products recorded a marginal rise with mixed subgroup performance. The WPI Food Index showed moderated inflation versus the prior month. The release includes tabulated indices and rates of change for major groups and subgroups and notes the final index for October 2017.

Intellectual property awareness mobilises students via national IP competition inviting short films and mobile-app entries for awareness.
A national IP competition, IPrism, organised by CIPAM DIPP with partners invites students to submit 30 and 60 second films on piracy and counterfeiting and a mobile gaming app on IP; winners receive cash prizes, mementos, certificates and recognition on CIPAM platforms to promote innovation and public awareness of the harms of piracy and counterfeiting under the National IPR Policy outreach objective.

Index of Industrial Production shows broad annual growth driven by manufacturing and strong consumer non durables expansion.
Quick estimates for November 2017 show the General Index of Industrial Production at 125.6, a year on year increase of 8.4%, with April-November cumulative growth of 3.2%. Sectoral indices: Manufacturing led annual growth (index 127.5, 10.2%), Electricity (140.1, 3.9%) and Mining (107.4, 1.1%), while fifteen of twenty three 2 digit manufacturing industries were positive. Use based categories recorded gains-notably Capital, Intermediate and Infrastructure/Construction goods-and the release lists major positive and negative item contributors and updated October and August indices.

Consumer Price Index provisional release signals year on year inflation trends for December; rural, urban and combined indices published.
Provisional release of Consumer Price Index (base 2012=100) and Consumer Food Price Index for December 2017 for Rural, Urban and Combined series, with all India and State/UT General, Group and Sub group indices, monthly changes and point to point annual inflation rates; methodology notes, data collection sources, coverage exceptions, and annexures providing detailed index values, weights and inflation rates.

Hard core cartel prohibition leads to imposition of enhanced penalties for collusive bidding and market allocation.
The commission found three coal liaising firms formed a hard core cartel by submitting collusive tenders and dividing the market for coal liaising services in response to procurement tenders, thereby eliminating and lessening competition and manipulating the bidding process; accordingly the commission invoked enhanced-penalty provisions for cartel agreements, imposed monetary penalties based on profits during the cartel period and issued a cease and desist directive, and criticised an informant for breaching confidentiality by circulating investigation material.

Economic policy dialogue yields expert recommendations across macroeconomy, agriculture, employment, infrastructure and public health priorities.
NITI Aayog convened an expert interaction on economic policy attended by the Prime Minister and over forty economists to solicit recommendations across the macro-economy, agriculture and rural development, employment, health and education, manufacturing and exports, urban development, and infrastructure and connectivity; the Finance Minister acknowledged contributions and the Prime Minister commended the quality of expert input, with Union Ministers, the Vice Chairman of NITI Aayog and senior officials present.

Divestment of government stake via offer for sale leads to oversubscription and reduced government shareholding.
Government divested 2.52% of paid-up capital in NMDC via an Offer for Sale (OFS), reducing its shareholding from 74.94% to 72.42%. The OFS attracted foreign and domestic institutional investors and mutual funds, was offered at a base issue size with a floor price, and was oversubscribed multiple times. A retail portion was provided with a discount on the cut-off price to encourage individual participation and saw substantial oversubscription.

Continuation of Members of Parliament Local Area Development Scheme approved, maintaining allocations, monitoring and guideline-based fund release to districts.
Approval to continue the Members of Parliament Local Area Development Scheme extends central multi year funding with a dedicated provision for independent monitoring and capacity building, while maintaining guideline based fund release to nodal District Authorities on receipt of requisite documents for works in sectors like drinking water, education, public health, sanitation and roads.

Economic policy dialogue: Prime Minister engages economists and sector experts to outline national priorities across key themes.
Economic Policy deliberations at NITI Aayog will bring the Prime Minister together with leading economists and sector experts to discuss Macroeconomic Balances, Agriculture and Rural Development, Urban Development, Infrastructure and Connectivity, Employment, Manufacturing and Exports, and Health and Education, with participation by senior ministers and NITI Aayog leadership to inform national policy direction.

Artificial Intelligence policy intervention guides recommendations for industrial policy and stakeholder consultation on economic transformation.
The Task Force on Artificial Intelligence, comprising industry, academia and government members, is mandated to draft policy intervention recommendations to inform India's industrial policy and promote economic transformation; the Commerce & Industry Minister reviewed preliminary recommendations, provided suggestions for consideration, and received industry study findings as input to the policy process.