Economy

Kharif sowing picking up, early to gauge impact of stalled monsoon: Tomar

Kharif sowing has picked up in almost all major states with the advancement of monsoon, agriculture minister Narendra Singh Tomar said in a written reply in Lok Sabha.

Today, over 50% of the global seed market is controlled by 4 corporations.

IMF cuts India’s GDP growth forecast to 9.5 pc for FY22

For 2022-23, IMF expects economic growth of 8.5 per cent, larger than the 6.9 per cent it had projected in April. "Growth prospects in India have been downgraded following the severe second COVID wav

"Globalisation has tripled Indian GDP in a generation, an amazing accomplishment, ..but the workers of India have been left out," Maskin, a professor of Economics and Mathematics at Harvard University, said.

Deficit Financing: No plan to print extra money, says FM

Says judicious mix of supply- and demand-side measures to balance growth-inflation dynamics and support long-lasting growth

The minister’s written reply reflects the convergence between the government and the Reserve Bank of India (RBI) on the critical issue of printing additional currency notes to directly fund the deficit.

Pre-pack scheme: FM introduces Bill in LS to replace ordinance

Under the scheme, only the debtor gets to trigger its own bankruptcy process. It is designed to yield a faster resolution, cost less and reduce litigation often triggered by defaulting promoters to re

Importantly, promoters will continue to run the MSMEs, unlike in the CIRP, where the resolution professional gets to run the affairs with guidance from financial creditors.

Unemployment rate rises again to reach 7.14%

Unemployment rate in urban areas increased marginally to 8.01% from 7.94% a week before; the rise was sharper in rural areas, from 5.1% to 6.75%.

The rate reached its recent peak of 14.73% in the week ended on May 23. As the impact of the coronavirus ebbed and restrictions on mobility eased, overall unemployment rate showed signs of decline, but has again inched up.

GST e-way bill generation gathers momentum in July

Average daily e-way bill generation was 20.2 lakh in the week ended July 25, compared with 20.4 lakh in preceding week and 19.24 lakh in the first 11 days of July.

With the impact of the second Covid-19 wave waning and the vaccination drive making progress, parts of the economy are expected to look up from July.

Modi govt tables Bill in Lok Sabha to amend Insolvency Law

The proposed amendments would enable the government to notify the threshold of a default not exceeding Rs 1 crore for initiation of pre-packaged resolution process

Monsoon Session, Monsoon Session 2021, Insolvency Law, Lok Sabha, MSME

Higher inflation a transitory hump, to help RBI remain dovish in Aug review: Report

The Reserve Bank-led monetary policy panel is scheduled to announce the third monetary policy review on August 6, amidst the continuing spike in retail inflation that has breached the 6 per cent upper

But they were quick to warn an abnormally high crude prices may force the RBI to adapt to normalisation process sooner than later.

COVID 2nd wave may have more lasting damage on economy, exports to drive recovery: Moody’s Analytics

The Delta variant of COVID-19 is among factors now adversely affecting economies of the Asia-Pacific (APAC) region, but the economic hit from the current round of movement restrictions in the region w

With regard to vaccination, Moody's Analytics, which is a financial intelligence company, said India is struggling to accelerate its pace of inoculation.

Govt’s net tax collection rises 86% to Rs 5.57 lakh cr in Q1

"The net direct tax collection in the 1st quarter of FY 2021-2022 is Rs 2,46,519.82 crore as against Rs 1,17,783.87 crore during the same period of previous FY 2020-21 representing a growth of 109.3 p

Further, more than 107 prosecution complaints have been filed under the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015.

Decommissioning coal power plants older than 25 years can save Rs 37K cr: Study

The CEEW-CEF study does not endorse large-scale decommissioning, it found that retiring 95 GW of capacity could cost between Rs 2.3 lakh crore and 3.5 lakh crore (USD 32 to 48 billion) to pay off debt

FM Sitharaman says no plan to print currency notes to tide over crisis

To a question on whether there is any plan to print currency to tide over the crisis, the Finance Minister said, "No Sir".

nirmala sitharaman

GST on annuity received for construction of roads – A never ending chaos!

The annuity payments are different from toll payments.

With the impact of the second Covid-19 wave waning and the vaccination drive making progress, parts of the economy are expected to look up from July.

Lower Barriers: India’s tariffs record sharp drop from 17.6% in 2019 to 15% in 2020

Economists, however, have been critical of New Delhi’s move to undermine liberalisation, achieved assiduously over the years since the 1990s.

A sustained drop in imports will also help the country lower its trade imbalance, which, some officials reckon, will not just ease pressure on its current account but boost its GDP growth as well.

Kharif 2021: Clouds over Fasal Bima as states miss deadlines

The Centre normally accedes to the requests of the states if the insurance companies give their consent for the extension of enrollment date.

The balance premium is split equally between the Centre and states. Many states have demanded their share of the premium subsidy be capped at 30%.

In times of crisis, the Centre must support the states: Dr Y V Reddy

Former governor of the Reserve Bank of India, an accomplished civil servant and the author of several books Dr Y V Reddy shares his views on the Indian federal structure, its design, the changing land

RBI Former Reserve Bank of India Governor YV Reddy (Reuters)

RBI central board short of 9 non-official directors

Other two directors, Prasanna Kumar Mohanty and Dilip S Shanghvi, served on the central board till February 8, 2021, and March 10, 2021, respectively. Eminent agriculture economist Ashok Gulati and Te

Paytm CEO Vijay Shekhar Sharma ahead of IPO: ‘India in exciting phase of growth; expected to become $5 trillion economy in 5-10 years’

"It's an amazing, inspiring moment for us to be in India and lucky to be in India," Sharma said while speaking at a 2-day virtual youth conclave organised by IMC Chambers of Commerce and Industry.

India in exciting phase of growth; expected to become $5 trillion economy in 5-10 years: Paytm CEO Vijay Shekhar Sharma

Honest taxpayers deserve to be recognised for paying due share of taxes: Sitharaman

In her message to the I-T Department on the 161st anniversary of Income Tax Day, she complimented the department for continuing to work towards simplifying its procedures and processes, and making its

He highlighted the fact that the interaction with taxpayers is now characterized by a spirit of trust and respect, relying more on voluntary compliance.

India will continue to attract high foreign investments: Goyal

In 2020-21, FDI into the country grew by 19 per cent to USD 59.63 billion. Total FDI, including equity, re-invested earnings and capital, rose 10 per cent to USD 81.72 billion during 2020-21 as agains

Similarly, he said, India's exports too are recording healthy growth and would reach USD 400 billion by the end of the current financial year.

About 620 products see price reduction after trade margin regulation on critical medical devices

Last month, the government capped the trade margin on oxygen concentrators at 70 per cent by invoking extraordinary powers under Para 19 of the DPCO, 2013.

Growing mafia economy a threat to Kerala’s development: Dr KN Harilal, former Planning Board member

Harilal said there has been a qualitative improvement in the civil services of the state over a period of time, but this is not on a par with the growing needs of the state.

Kerala economy

‘Job scenario improved in 2019-20, before pandemic played spoilsport’

According to CMIE, the unemployment rate in January this year was at 6.52%, 6.89% in February, 6.5% in March, 7.97% in April, 11.9% in May and 9.17% in June 2021.

labour survey

Govt set to overshoot FY22 tax collection target as Q1 mop-up reaches Rs 5.6 lakh cr: Icra

The revenue department is yet to officially release tax collection data, but the finance ministry informed the Lok Sabha on July 19 that Q1 tax revenue mop-up reached Rs 5.6 lakh crore.

income tax, direct tax collection

Forex reserves zoom to record high of USD 612.73 bn

In the reporting week ended July 16, 2021, the increase in forex reserves was on account of the rise in foreign currency assets (FCA), Reserve Bank of India's (RBI) weekly data released on Friday show

Road ahead more daunting, need to recalibrate priorities: Manmohan Singh on 30 yrs of liberalisation

Over the last three decades, successive governments have followed this path to catapult the nation to a USD 3 trillion economy and into the league of the world's largest economies, the former prime mi

India sees significant improvement in UNESCAP score on trade facilitation

India has scored 90.32 per cent in the global survey on Digital and Sustainable Trade Facilitation. This is a remarkable jump from 78.49 per cent in 2019.

In a statement, the Finance Ministry said that India has seen "significant improvement" in the score in United Nations' Global Survey on Digital and Sustainable Trade Facilitation.
Advertisement
Income Tax Calculator, Budget 2019, How to Calculate Income Tax

 

Stock Market

Advertisement
Advertisement