Economy

Govt procures 98.19 lakh ton paddy at MSP for Rs 18,540 crore

Paddy Procurement during corresponding period of Kharif Marketing Season (KMS) 2019-20 was 80.20 lakh tonnes.
Paddy, Kharif, FCI, farmers, Kharif Marketing Season, Kharif crops, MSP

Next year will be the greatest economic year in US history: Donald Trump

Acknowledging that the country was reeling from the impact of the coronavirus, Trump promised his supporters that the country will soon get back to normal life.

India mulls trade talks with Taiwan as both spar with China; investment in tech, electronics on cards

A trade deal with Taiwan would help India’s goal of seeking greater investments in technology and electronics.

india, taiwan, china, trade relation, export, import

Crores of Indians locked out of ration card system that provides cheap food; starvation deaths haunt poor

India spends more than 1 trillion rupees on the ration card program but there are still tens of millions getting locked out of the assistance.

ration card, free food, cheap food, india hunger

Capex target: Oil & gas, coal PSUs told to stick to FY21 plan

FM says scaling up of CPSE capex in FY21-FY22 vital for economic revival

The eleven CPSEs, which attended Monday’s meeting, include biggies like ONGC, Indian Oil, BPCL, GAIL (India) and Coal India.

GST shortfall: Punjab, Bengal, others to choose Option 1, Kerala demurs

Under GST Compensation Act, 2017, the states are guaranteed a 14% annual growth in the relevant tax revenues over five years till July 2022, meaning such tax receipts would be their income sans any co

More states are expected to convey their decision to adopt Option 1 to the Centre in the coming days.

Kisan Credit Card scheme: Rs 1.35 lakh crore credit sanctioned achieved

The KCC scheme was introduced in the year 1998 with the objectives of providing adequate and timely credit to the farmers for their agricultural operation.

As part of the Atmanirbhar Bharat package, the government had announced to cover 2.5 crore farmers under the KCC scheme with a credit boost of Rs 2 lakh crore through a special saturation drive.

Open to imparting more stimulus to economy: FM Sitharaman

According to the privatisation policy announced by Sitharaman recently, at least one enterprise in a ‘strategic sector’ will remain in the public sector, but the private sector will also be allowe

She also hinted that the strategic sectors identified for a near-comprehensive privatisation policy would be made public soon.

CBDT reiterates tolerance range under transfer pricing rules

CBDT kept tolerance range of 1% for wholesale trading and 3% for all other transactions undertaken during the financial year ending March 31, 2020.

Further, the average monthly closing inventory of such goods must be 10% or less of sales on such trading activities.

Bengal discom banks on distribution overhaul with World Bank loan to optimise cost of supplies

The discom's in excess Rs 12,700 crore regulatory assets or previous losses recoverable from customers, can be realised by a tariff hike.

The discom's total debt, including market borrowings, regulatory debt and working capital loans stands at above Rs 18,700 crore.

FM Nirmala Sitharaman: Govt has started assessing Covid’s impact on economy

To a question on whether the Finance Ministry would come out with an assessment of economic contraction, Sitharaman said the ministry has started doing some assessment since the beginning of October a

Asian Development Bank to provide USD 346 million loan for power supply project in rural Maharashtra

The program aims to provide efficient and reliable power to agricultural customers in Maharashtra's rural areas through adoption of HVDS that will help reduce distribution losses.

Asian Development Bank, ADB, Maharashtra, Maharashtra farmers, Maharashtra power supply, Maharashtra electricity

IMF says nearly all Mideast economies hit by coronavirus pandemic recession

The coronavirus pandemic has pushed nearly all Mideast nations into the throes of an economic recession this year, yet some rebound is expected as all but two Lebanon and Oman  are expected to see so

IMF Managing Director Kristalina Georgieva said Tuesday that global economic activity suffered an unprecedented fall in the spring when 85 per cent of the global economy was in lockdown for several weeks.

Centre should take initiative in settling GST borrowing quantum issue: Kerala FM

The centre had in August proposed two options to states: borrow Rs 97,000 crore (on account of GST implementation) from a special window facilitated by the RBI or the complete shortfall of Rs 2.35 lak

PM Modi to inaugurate India Energy Forum next week

The event's speakers include energy ministers, senior industry executives and leading national and international energy experts.

Who has the most power in Asia? US leads, China closes in but India falls behind

The U.S. economy could take until 2024 to recover to pre-pandemic levels, the institute said. In contrast, China’s economy has rebounded from the virus and is the only large economy forecast to reco

US FED, economic data, interest rates, credit, income, unemployment

Japan exports fall amid slow recovery from pandemic downturn

Prime Minister Yoshihide Suga, who took office a month ago, left on Monday for Vietnam and Indonesia, where virus cases are relatively low, to drum up business and trade.

China’s economy recovers from coronavirus slump: Posts 4.9 per cent growth in Q3

Despite the improvements, the foundation for sustainable recovery requires further consolidation due to global uncertainties and uneven performance at home, Liu cautioned.

Covid-19 in China

APMC mandis lose grip on Maharashtra FPCs

Direct sales to food processors, retailers on the rise

Disinvestment: Plans afoot to raise Rs 1 lakh crore in FY21

Strategic sales in fuel retailer-refiner BPCL, Container Corporation (ConCor) and IDBI Bank would be completed in the year, an official source said.

While the government hasn’t officially put off the LIC listing, the pace of process clearly indicates the receipts won’t come in early enough to be budgeted for the current year.

Start of Season: Most summer crops being sold below support prices

An analysis of prices by FE showed that farmers sold seven kharif crops including jowar, bajra, maize, moong and soyabean at prices 8-38% below their MSPs during October 1-15.

Kharif season, Kharif foodgrains, Kharif foodgrains production, Agri Min Narendra Singh Tomar, new farm laws, covid19 pandemic

Go ‘swadeshi’, end imports and increase exports: Nitin Gadkari

He also suggested setting up of an "import substitute and export-oriented department" with separate funds earmarked for it.

China passes new law restricting sensitive exports

China has passed a new law restricting sensitive exports to protect national security, allowing Beijing to reciprocate against the US as tensions mount between the sides over trade and technology.

China surveillance, PMO officers, IAS officers, Chief Secretaries, Guangdong province, RCEP, database of Zhenhua Data

Significant dip in Chhattisgarh unemployment rate in September: Data

Despite consistent disruption in economic activities during the COVID-19 pandemic, the unemployment rate in Chhattisgarh has declined to 2 per cent in September from 14.2 per cent in June.

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