Expect Q2 GDP to show bounce back but concern really on sustaining it as challenges abound

Numbers still play a crucial role in judging the performance of an economy and while we are well into the third quarter of the current financial year, we have only the first quarter GDP numbers – be

Budget wish-list: Oil producers seek tax sops to raise domestic output

The exemption was available to the sector from March, 2012 till the introduction of GST on June 30, 2017.

The players want restoration of exemptions from excise duties (basic excise duty, special excise duty and additional duty, which now cumulatively stands at Rs 21.8/litre) on the diesel procured for hydrocarbon explorations and production activities.

Much at stake for India as WTO talks lose steam

However, in the absence of a strict time-line for reconvening the ministerial, which typically brings in the urgency to resolve outstanding issues, developing countries will find it difficult to make

Following persistent attack by the US on countries, including China and India, for “self -designating” themselves as developing nations at the WTO to enjoy special and differential trade benefits, New Delhi has rooted for a policy of voluntary forgoing of such a status.

Inflation could impede nascent economic recovery

Driven by a rise in rural unemployment which jumped to 7.91% in October from 6.06% in September, overall unemployment rose to 7.75% from 6.86%, CMIE data showed.

Assam govt rolls out microfinance loan waiver scheme for 24 lakh women

The Assam Cabinet had on September 30 approved Rs 1,800 crore to waive microfinance loans availed by poor women in the first phase.

Rising fuel prices- Small is big: How the ‘Chhotu’ LPG cylinder became a bestseller

To encourage regular refill, a swap option from the standard 14.2 kg connections to 5 kg connections was offered to Pradhan Mantri Ujjwala Yojana (PMUY) consumers.

The uptake of small cylinders would probably grow further if the government’s plan to supply these through the network of fair price shops across the country kicks off. And with no subsidy in sight for LPG, more consumers would be forced to opt for the smaller ones.

WTO defers ministers’ meet

The postponement followed the announcement of travel restrictions and quarantine requirements in Switzerland and many other European countries.

No date has been set for reconvening the 12th ministerial conference, widely seen as a test of the WTO's relevance amid persistent onslaught by key members on the multilateral trading system that it represents.

Govt plans further cut in compliance burden: Piyush Goyal

Goyal pitched for making mediation the preferred mechanism for commercial dispute resolution, instead of rushing to courts every time there is a dispute.

He also favoured deeper engagement among industry, government and judiciary to find solutions to the vexed issues of delay in the resolution of commercial disputes within the country’s legal framework.

Assam govt to roll out microfinance relief scheme, distribute cheques among borrowers

To start with, the Himanta Biswa Sarma-led government is scheduled to roll out the special one-time relief in a three-day event commencing on November 28.

This will be the first phase of the cheque distribution programme. After the special relief was announced on June 18, the government signed a memorandum of understanding (MoU) with microfinance lenders for the implementation of the scheme in August.

Himachal Pradesh govt announces new pay scales for its employees

Thakur said that a committee would be constituted for appointment on compassionate grounds under the chairmanship of chief secretary. The Committee would give its presentation in the next Cabinet meet

The pay of January 2022 will be payable in February 2022 as per revised pay scales, he added.

PHD chamber urges GST Council to rationalise rates

Items in category of 12 per cent rate should be reduced to 10 per cent and goods in the category of 18 per cent rate should be reduced to 15 per cent, he suggested

Piyush Goyal asks gem, jewellery sector to focus on design, diversifying export product basket

He said that exports from the sector have increased to USD 23 billion during the April-October period of this fiscal.

piyush goyal

WTO delays key meeting amid Covid variant concerns: Official

The World Trade Organization is postponing its conference of government ministers set to open Tuesday after Switzerland initiated new travel restrictions following the emergence of a worrying new coro


Draft agreement on fisheries subsidies submitted to ministers ahead of their meeting: WTO

India is suggesting that those countries which are engaged in distant water fishing and beyond their natural geographic area should stop giving subsidies for 25 years in fishing areas beyond their exc

The World Trade Organisation (WTO) statement said all provisions in the draft agreement remain open for discussion if ministers wish to do so.

Tremendous potential to grow bilateral trade with Canada: Goyal

"An initial interim agreement covering goods and services, deeper economic partnership in several sectors and a much larger and comprehensive agreement at the second stage, a little later.

He also said both sides have discussed the possibility of concluding the India-Canada comprehensive economic partnership agreement (CEPA), a kind of free trade pact, in two stages.

BRICS nations need to strengthen coop to support economic recovery: CEA

He also underlined the need for strengthening international cooperation and establishing a cross border regulatory mechanism for further improving the investment environment and enhancing capital flow

The BRICS bond fund, which has been a long standing issue is now close to completion and would help local bond markets in the member countries.

GoM meet on GST rate rationalisation deferred

Sources said the meeting has been deferred and the GoM would submit its report to the GST Council, chaired by the union finance minister and comprising state counterparts.

It has met twice so far and was scheduled to meet on November 27 to consider recommendations of the Fitment committee regarding GST rate and slab changes.

Petroleum Minister Hardeep Singh Puri says high oil prices to hurt global economic recovery

"We have told the producing (nations) if you don't exercise caution you will be in a situation that your desire to maximise profit in the short run will undermine the global economic recovery. If that

Puri said high prices will undermine the global economic recovery.

India’s forex kitty increases by $289 mln to $640.40 bln

The overall reserves had declined by USD 763 million to USD 640.112 billion in the previous reporting week. They had touched a life time high of USD 642.453 billion in the week ended September 3, 2021

Foreign Currency Assets (FCA), a major component of the overall reserves, increased by USD 225 million to USD 575.712 billion, according to the Reserve Bank of India's (RBI) weekly data.

2021 is a watershed year for Indian economy: Kumar Mangalam Birla

Speaking at the virtual annual session of ICC, Birla said that 30 years after the first wave of reforms in 1991, this year there has seen an investment boom in the country making India an economy of t

"India is a fast growing economy with a diverse society. Since 1991, this year has been a watershed year with reforms like labour codes and fixation of legacy issues in telecom," he said.

India faces uphill battle to meet 2030 climate targets: Fitch

Stating that the strongest prospects for displacing fossil fuels are in the power sector, Fitch said the targets are likely to be missed in absence of a step change in the sector.

Factory Pollution (Reuters)

Bihar, Jharkhand, UP emerge as poorest states in India: Niti Aayog

As per the index, 51.91 per cent population of Bihar is poor, followed 42.16 per cent in Jharkhand, 37.79 per cent in Uttar Pradesh.

Niti Aayog

UP now one of the most investor friendly states, change for the better is visible: Yogi Adityanath

Uttar Pradesh is now one of the most investor friendly states in the country, where an investor has no longer to worry either about his personal safety and security or that of his investments, he said

yogi adityanath

India-US deal: Google tax leeway for India till OECD tax pact takes effect

Delhi can continue to collect levy on large US-based non-resident e-commerce firms in the interim, may have to return excess collected later

Tax experts feel that the India-US agreement, which also prevents Washington from taking retaliatory trade action against India citing the equalisation levy, will put to rest relevant trade disputes between the two countries.

US raises anti-dumping duty on shrimp exports by India

USDOC on Wednesday issued the final results of the fifteenth administrative review of the anti-dumping duty order on frozen warm-water shrimp from India by fixing an anti-dumping duty rate of 7.15%. I

Under the US Tariff Act of 1930, all tariffs come automatically under review every five years and the anti-dumping duty on shrimp imports from India, China, Brazil, Thailand and Vietnam imposed from 2005 would be revoked or continued on the basis of a fresh evaluation.

Borrowing costs for states lowest since April

The yield on G-Sec has fallen due to a fall in US Treasury yields and the easing of oil prices in the international market. Currently, the yield on benchmark 6.10%-2031 bond yield is trading at 6.3657

If G-Sec yields go down, SDL yields will follow,” said Pankaj Pathak, fund manager, fixed income at Quantum Asset Management.

Only 29 FDI proposals pending for approval as of today: DPIIT secy

Under that press note, the government had made its prior approval mandatory for foreign investments from countries that share land border with India to curb opportunistic takeovers of domestic firms f

On this, Jain said the department will follow it up and ensure that those applications are taken up on priority basis and "see what best can be done".
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