China has requested the WTO's dispute settlement body to establish a panel to examine its case against India's incentive schemes for auto, battery, and electric vehicles. Bilateral consultations failed to resolve the dispute, with China alleging the schemes violate global trade rules by discriminating against its goods.
Saudi Arabia is transferring some Vision 2030 project scopes to the private sector to avoid economic overheating and manage timelines. The government is being agile, rescoping projects while maintaining momentum on its economic transformation goals. The kingdom is over halfway through its ambitious plan, with the non-oil economy now exceeding 55% of GDP.
The Reserve Bank of India has strengthened priority sector lending compliance, mandating external auditor certificates from intermediaries to prevent double-claiming of loans. This move follows scrutiny of banks for misclassifying agricultural loans. The RBI aims to ensure credit flows to priority sectors by enhancing monitoring and internal controls.
RBI MPC member Nagesh Kumar urged the government to offer policy incentives for R&D and establish an institutional fund for long-term manufacturing capital in the upcoming Budget. He also suggested restoring the 200% weighted tax deduction for R&D expenditure and creating a specialized development financing institution for manufacturing to boost growth and competitiveness.
With lenders using credit scores to decide everything from phone contracts to car finance, experts say understanding how it works could make a meaningful difference.
