Economy

India may soon store crude oil in US, other foreign nations; invites cos to enhance domestic capacity

Dharmendra Pradhan today invited the participation of companies in the development of 6.5 MMT of crude storage capacities at Chandikol and Padur in the next commercial-cum-strategic reserve programme.
oil imports, crude oil, strategic reserve, crude storage in US, oil dependence

‘Shambolic’ RBI delay holds back recovery; govt injects more uncertainty into economy

India’s government injected more uncertainty into the economy this week, failing to act in time to appoint members to the central bank’s panel that decides interest rates.

Atmanirbhar way of steel availability

If the current capacity is way below the requirement, there is an urgent case for capacity augmentation which requires fresh investment, either by the existing or new producers or by inviting FDI into

Atmanirbhar, steel availability, Atma Nirbhar Bharat, FDI in steel sector, steel imports, Global Value Chain, capital goods sector, CRGO steel, special alloy

Market borrowing: Govt may announce H2 calendar on Wednesday

The government will likely release its borrowing calendar for the second half of this fiscal on Wednesday, an official source said.

Sources have said an acute resource crunch has prompted the government to keep alive plans to raise its gross market borrowing again in FY21, having already hiked it by 54% from the budgetted level to Rs 12 lakh crore.

Nearly 26 lakh unmetered connections sap UPPCL’s energy

The extent of the problem can be understood by the fact that, of the UPPCL’s total consumer base of 281 lakh, about 25.93 lakh (9.23%) connections are unmetered.

Shockingly, Purvanchal Vidyut Vitaran Nigam (PuVVNL), the Varanasi discom that is soon going to be put out for bidding, accounts for 49.24% (1,27,6747) of these unmetered connections.

Kharif MSP purchases start, earlier than usual

The procurement of paddy, the main kharif cereal, for the 2020-21 season (October-September) started on September 26 in Punjab and Haryana – the two main states where farmers are agitating against t

The procurement of cotton for the season 2020-21 shall commence from October 1 by the Cotton Corporation of India (CCI).

COVID-19 showed risk of dependence of global supply chain on any single source: PM Modi

The prime minister said India is working with Australia and Japan to diversify the supply chain, noting that like-minded countries are welcome to join the initiative.

Farmer plight is nothing new be it BJP or Congress: Govt must assuage fears of MSP dilution

Nothing new comes from the old. Farmers’ plight has been constantly deteriorating leading even to suicides. Off and on farmers have been resorting to agitations, which have shaken every govt, irresp

The Farmers (Empowerment and Protection) Agreement on Price Assurance and Farm Services Bill, 2020, received the Presidential assent on Sunday after both the Houses of Parliament passed the Bill earlier this month.

RBI may not cut repo rate again in upcoming monetary policy meeting; these 5 concerns weigh

With the current level of inflation and prevailing uncertainty over the growth outlook, it is expected that the RBI will adopt a wait-and-watch approach and hold the repo rate at 4%.

RBI MPC meet, repo rate, governor shaktikanta das, inflation gdp economic recovery interest rate

Adani debunks GDP rhetoric, says India will be second largest economy by 2050

Speaking at the JP Morgan India Summit - Future in Focus, the Adani Group chairman said the AatmaNirbhar Bharat programme will be a game-changer. "I will state without any hesitation that in my view -

Gautam Adani, GDP, indian economy, JP Morgan India Summit, Adani Group chairman,  AatmaNirbhar Bharat programme, latest news on gautam adani

RBI postpones September’s Monetary Policy Committee meeting; revised date to be announced shortly

The Reserve Bank of India said that the dates of the MPC’s meeting will be announced shortly.

MPC, monetary policy meeting, MPC date postpone

Sugar export deadline extended: Sugar millers may now export their quota till this date

Amid a surplus sugar production, the government has allowed extension for the export of 6 million tonnes of sugar under the quota for the 2019-20 marketing year ending September.

sugarcane production, sugar miler, sugar exports, exports deadline, migrant workers

Balancing balance sheet: Cesses, surcharges help window-dress govt accounts

A few other instances that show the rampancy of the practice of short-transfer/mis-appropriation of cess funds.

Going by a statement tabled by the finance ministry in Parliament in December 2019 and CAG report for FY19, the short /non-transfer to designated cess funds from the CFI was to the tune of Rs 3.4 lakh crore between FY15 and FY19.

Gross market borrowing: Govt may opt for another hike, but only by November

The NSSF had financed a record 31.3% of fiscal deficit in FY20 and was budgeted to fund 30.1% (Rs 2.4 lakh crore) of it in FY21 before the pandemic struck.

Share Market Today, Share Market Live

H-CNG: Modi Govt notifies norms for alternative fuels

The Road Transport and Highways Ministry has notified regulations for various alternative fuels to further promote sustainable transportation, Union Minister Nitin Gadkari said on Sunday.

NCDC sanctions Rs 19,444 crore to three states for paddy procurement at MSP

The timely step will help the state agencies start procurement operations immediately, an official statement said. NCDC is the apex financing organization of Union Agriculture Ministry.

RBI ropes in Big B for customer awareness campaign

As part of the public awareness initiative of RBI, the regulator keeps informing about dos and don'ts that have to be followed by customers to transact safely and securely.

RBI MPC meet, repo rate, governor shaktikanta das, inflation gdp economic recovery interest rate

RBI likely to maintain status quo in upcoming policy review meet

The six-member Monetary Policy Committee (MPC) headed by RBI Governor is scheduled to meet for three days starting September 29. The resolution of the MPC would be announced on October 1.

The National Statistical Office has pegged the pace of GDP contraction in that quarter at a distressing, albeit unsurprising, 23.9%.

Atmanirbhar Bharat: DPIIT shares list of 24 key sectors with ministries to work on plan to boost manufacturing

The Department for Promotion of Industry and Internal Trade (DPIIT) is working actively on promoting domestic manufacturing of toys and furniture.

The other sectors include organic farming, iron, aluminium and copper, electronics, industrial machinery, furniture, leather and shoes, and auto parts.

FPIs pull out net Rs 476 crore so far in September from Indian markets

According to depositories data, FPIs have withdrawn a net Rs 4,016 crore from equities and invested a net sum of Rs 3,540 crore in debt instruments during September 1-25 -- a net outflow of Rs 476 cro

FPIs remained net buyers for three consecutive months -- June-August.

Mann Ki Baat: Farmers playing major role in building Aatmanirbhar Bharat, says PM Modi

Our agriculture sector has shown its prowess during the COVID-19 pandemic and farmers are playing a major role in efforts to build a self-reliant India, he said.

Modi also said the agriculture sector will benefit immensely with greater use of technology in farming.

Scrip-wise reporting in ITR must only for LTCG exemption, not for day-trading, short-term gains: CBDT

The Finance Act, 2018 exempted gains made on the listed shares/specified units up to January 31, 2018, by introducing grandfathering mechanism for computation of LTCG for these shares.

income tax, income tax return, ITR, ITR-1, ITR-2, salaried individual, equity investment, equity-oriented mutual fund, MF, ELSS, schedule 112A, long-term capital gain, SIP, STP, SWP

Government looks to implement all 4 labour codes in one go by December, says Union Minister Gangwar

The government aims to catapult India to among the top 10 countries in World Bank's ease of doing business rankings with the comprehensive labour reforms.

The Wage Code Bill, 2019 was passed by Parliament last year.

Remittances may fall most this year in past 4 decades due to Covid, oil price shock, says expert

The decline in remittances from workers abroad will add to the fiscal difficulty of states since households will either not have the additional income via remittances or will receive lower amounts, sa

Income Tax Calculator, Budget 2019, How to Calculate Income Tax

 

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