Economy
No more happy hours! High Corona tax backfires, liquor sales halved in last 5 months
Currently, Pudduchery, West Bengal , Andhra Pradesh, Jammu & Kashmir and Rajasthan have a tax of 25% more than what it was in March 2020.
Modi Govt to provide fortified rice under mid-day meal programme: Food Secretary
Central government is distributing over 80 lakh tonnes foodgrains per month since April onwards
GST compensation: Centre borrows, transfers Rs 6,000 crore to 16 states, 2 UTs
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
Shaktikanta Das says room for rate cut if inflation moderates; RBI MPC lists out 3 macro-financial risks
RBI Governor Shaktikanta Das said that the food inflation should moderate on the back of good Kharif harvest and a favourable rabi season.
Forex reserves touch life time high of $555.12 billion
In the previous week ended October 9, 2020, the reserves had increased by USD 5.867 billion to reach USD 551.505 billion.
At least 10 lakh jobs added in August 2020; EPFO data shows recovery in job market
aking together the new entrants and those who exited but returned, the net addition in EPF subscribers was nearly 10 lakh in August, after factoring out those who left in the month.
RBI board holds review meet to take stock of economic situation, other challenges
The meeting, which was held through video conferencing, also deliberated on the issues concerning financial stability in the present context.
India- Argentina JTC: Indian Cos to bid for Hydrocarbon projects; Lithium Agreement to be operationalised soon
Ambassador of India to Argentina, Dinesh Bhatia attended the meeting, along with the Charge d’Affaires of the Embassy of Argentina in India, Martin Via.
Karnataka most preferred destination for investors, has attracted highest FDI inflow amid COVID: CM
In a series of tweets, the Chief Minister said Indias first sector-specific investment Rs 3,540 crore Consumer Electronics and Durable Goods cluster will come up in Hubbali.
COVID-19 to push 150-175 million more people into extreme poverty: UN expert
Special Rapporteur on extreme poverty and human rights Olivier De Schutter said that between 150 million and 175 million more people will fall into extreme poverty, due to the epic fallout from COVID-
Stimulus resources saved for timely demand push: Principal economic adviser Sanjeev Sanyal
Now that many sectors of the economy are emerging out of the torpor caused by the lockdown, there is a case for a timely ‘generic’ push to demand to accelerate the economic revival, principal econ
Govt releases new series of retail inflation for industrial workers with 2016 base year
The government on Thursday launched a new series for Consumer Price Index — Industrial Workers (CPI-IW) changing the base year to 2016 from 2001, but said it will not have any immediate impact on th
Manufacturers eyeing domestic market to operate in SEZs
In a bid to integrate export ecosystem with the wider domestic economy, the government may allow manufacturers who make goods for domestic supplies to operate within the special economic zones (SEZs),
RBI’s on-tap TLTRO begins; why these 5 sectors were selected, and how they will drive India’s growth
Agriculture; agri-Infrastructure; secured retail; micro, small and medium enterprises (MSMEs); and drugs, pharmaceuticals, and healthcare sectors are covered under the On tap TLTRO scheme.
Indians’ wealth rises amid coronavirus crisis; Credit Suisse tells how much it may further grow
The wealth per adult in India rose from $17,300 at the end of the calendar year 2019 to $17,420 at the end-June 2020.
Rural India surprises with job loss amid peak harvesting season in October; labour market stagnates
It is possible that employment under the MGNREGS has declined significantly in October.
Marrying above legal age is good economic strategy for men, women; SBI research reveals why
Women will try to marry at above than the legal age, as this gives them exponentially higher payoff.
India recorded export growth of 4 per cent in September: UNCTAD
The UNCTAD's new global trade update said that global trade recorded a 5 per cent drop in the third quarter of 2020 compared with the same period last year.
Monetary & fiscal policies counter cyclical, accommodative: RBI governor Shaktikanta Das
Das was speaking at the launch of veteran bureaucrat NK Singh’s new book ‘Portraits of Power’.
Road to Revival: More stimuli soon to lift economy, says DEA secy
PLI scheme to be extended to more sectors, budget capex being pushed, asset monetisation in focus
Kerala to fix MSP for veggies & fruits, among 16 crops, from November 1
The Kerala government on Wednesday decided to fix a minimum support price (MSP) for vegetables and fruits as part of its decision to support farmers and boost the agricultural sector.
PM to soon meet top global fund houses on infra financing: DEA Secy
There are fund houses around the world which are in touch with the government for investment in some good infrastructure assets which require patient capital, he said.
Former RBI governor Raghuram Rajan cautions against import substitution
"If the focus (under Aatmanirbhar Bharat initiative) is on import substitution by erecting tariffs, which we have done lot of in the last few years, then I think it is a direction we have tried before
Govt open to further stimulus to lift economy, says DEA Secretary
The government had announced a Rs 1.70 lakh crore Pradhan Mantri Garib Kalyan Yojana (PMGKP) in March to protect the poor and vulnerable sections from the impact of COVID-19 crisis.
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