Economy

Prospects brightening for economy as 2nd COVID wave wanes: RBI bulletin

"Prospects are brightening for the economy achieving escape velocity from the pandemic as the second wave wanes and preparedness for future remains on war-alert status," it said.
It further said the trajectory of inflation is shifting down more favourably than anticipated.

Singapore Opposition leader asks govt to release more info to dispel misinformation about FTA with India

The government's refusal to release data and answer questions of national relevance earlier had allowed people's misunderstandings to fester, and falsehoods to proliferate, The Straits Times quoted Si

india singapore ties

Nirmala Sitharaman LIVE: Bad Bank is born, to take on Rs 2 lakh cr bad loans; FM OKs Rs 30k cr govt guarantee

Finance Minister LIVE: Finance Minister Nirmala Sitharaman today announced that the government will back guarantees worth Rs 30,600 crore for the National Asset Reconstruction Company, which will take

Finance Minister live

Commerce Ministry for extending anti-dumping duty on certain steel products

The commerce ministry's arm DGTR has recommended the extension of anti-dumping duty on imports of certain steel products from countries like China, Japan and Korea to protect the domestic industry fro

steel price

GST Council to meet on Friday; rate review, tax concession to 11 COVID drugs on cards

"Finance Minister Smt @nsitharaman will chair the 45th GST Council meeting at 11 AM in Lucknow tomorrow. The meeting will be attended by MOS Shri @mppchaudhary besides Finance Ministers of States & UT

gst

Pakistan likely to face current account deficit of USD 12-17 billion in 2021-22: PM’s former aide

Addressing a book launch ceremony at the Institute of Business Administration (IBA) in Karachi on Wednesday, Dr Waqar Masood Khan said Pakistan's balance of payments crisis is likely to be severe, the

pakistan

India expected to grow at 7.2% in 2021 but economic growth could decelerate next year: UN report

The UNCTAD Trade and Development Report 2021, released here on Wednesday, sounded a cautiously optimistic note to say that the global economy is set for a strong recovery in 2021, albeit with a good d

Indian economy

GST on food aggregators aimed at improving compliance in sector

“Given the magnitude of change and the number of players involved in terms of restaurants, it is important that there is a proper consultation with industry before taking a decision,” said Pratik

GST

GST Council to discuss treating food delivery apps as restaurants, levying 5% tax

As per estimates, tax loss to exchequer due to alleged under-reporting by food delivery aggregators is Rs 2,000 crore over the past two years.

online food delivery app

Trust between Govt and industry increased following scrapping of retrospective taxation: Rajnath Singh

Singh listed a range of measures initiated by the NDA government to boost economic growth and said the global investors are now receiving a "red carpet" welcome in India instead of "red-tapism".

FinMin asks Indian Banks’ Association to play pivotal role in resurgence of economy

Inaugurating the Delhi office of IBA, the secretary suggested that the Association can also look at providing training and skilling to middle management banking professionals so as to unburden banks i

During the occasion, IBA Chairman Rajkiran Rai said IBA's transformation started in 2018 and is now more closely involved in the business side operations than mere advocacy.

MGNREGA: 100 days of work? Barely a quarter 

In fact, 2020-21 saw only 4.1% of the registered families find 100 days of employment under MGNREGA, though it was again the peak level achieved between 2015-16 and 2020-21.

MGNREGA

Q1 capex: Eleven states can borrow additional `15,721 cr

To become eligible for incremental borrowing, states are required to achieve at least 15% of the capex target set for 2021-22 by the end of first quarter of 2021-22, 45% by the end of second quarter,

capex

Five firms to undertake pilot projects to boost farmers’ incomes

While there will be no fund infusion by the government in these pilot projects, the agriculture ministry will share farmers’ data with these companies so that the initiatives are delivery-oriented a

The Centre aims to create a database of eight crore farmers in the next four months after compiling details of 5.5 crore farmers who benefited from central schemes like PM-Kisan, soil health card and PM Fasal Bima Yojana.

India, UK eye interim trade agreement by March 2022

The interim trade pact will likely include not just select goods but also key services that are “immediately deliverable”. Greater market access and tariff cut in select goods will feature in talk

Exports surge 46% in Aug, smart import rebound too

At $47.1 billion, imports, too, staged a smart rebound and grew 51.7% from a year ago and 18.2% from August 2019, signalling a broader trade recovery, according to the provisional estimates released b

Similarly, core imports (excluding petroleum and gold) rose 37.3% y-o-y and 4.3% from the pre-Covid level.

Council to discuss bringing petrol and diesel under GST

The Council, which will meet physically in Lucknow, will also likely take a call on whether GST concessions for various Covid medicines and related medical equipment, which are to be valid till Septem

These loans are to be repaid via cess proceeds. The cesses on demerit goods are being used for compensating states for revenue shortfall against the guaranteed annual growth of 14%.

India needs $8 trillion new greenfield assets to be $5 trillion economy by FY27: Report

The report by Deloitte said despite the COVID-19 disruption, FDI inflow into the country provides necessary optimism and display underlying strengths of the Indian economy.

indian economy growth

Exports up 46% to $33.28 billion in August

Trade deficit in August widened to USD 13.81 billion as against USD 8.2 billion in the same month last year.

indian exports

GST Council may consider bringing petrol, diesel under GST on Sept 17

The Council, which comprises central and state finance ministers, in its meeting scheduled in Lucknow on Friday, is also likely to consider extending the time for duty relief on COVID-19 essentials, a

In June, the Kerala High Court, based on a writ petition, had asked the GST Council to decide on bringing petrol and diesel within the goods and services tax (GST) ambit.

Consistent increase in household savings, deposits essential for India’s economic growth

For an emerging economy like India consistently augmenting household financial savings is a sine qua non for its medium-term growth story to fructify.

India GDP, Economy

India, UK moving towards early harvest trade deal, says Piyush Goyal

Taking to Twitter soon after a virtual meeting with his UK counterpart, Liz Truss, on Monday, the minister described his discussions as “productive” and reflecting further strengthening of India-U

piyush goyal

FinMin gives nod to 11 states to borrow additional Rs 15,721 cr

"11 states.... have achieved the target set by the Ministry of Finance for the capital expenditure in the 1st Quarter of 2021-22. As an incentive, these States have been granted permission by the Depa

FinMin

WPI inflation rises to 11.39 pc in August on costlier manufactured goods; food prices soften

Snapping the two-month easing trend, WPI inflation rose in August and remained in double-digit for the fifth consecutive month. In July 2021, WPI inflation stood at 11.16 per cent.

WPI inflation
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