Economy

India, US to work on ways to export mangoes, pomegranates to America

Both the countries are also looking forward to signing a system for the export of pomegranate arils from India to the US.

Shimla, Coimbatore, Chandigarh top Niti Aayog’s 1st SDG Urban India Index; Dhanbad, Meerut at bottom

According to an official statement, the Niti Aayog has developed the SDG Urban index and dashboard in collaboration with GIZ and BMZ under the umbrella of Indo-German Development Cooperation.

Will get back all money taken away from banks as govt actively pursuing cases of loan defaulters: Nirmala Sitharaman

She was addressing a function after launching new schemes and handing over orders to various beneficiaries under the financial inclusion and credit outreach programme.

Nirmala Sitharaman 02

No shortage of fertilisers; states should prevent diversion, monitor supplies daily: Centre

Further, he said the central government has been supplying fertilisers to all states without "any delay" based on the requirement indicated by state governments.

The Centre is committed to meeting the subsidy on fertilizers,  he said. (File)

India, US relaunch Trade Policy Forum

The ministry said the TPF could be the major platform for collaboration and cooperation in trade matters, resolving bilateral trade concerns and exploring trade policy issues.

The last meeting of the TPF was held in 2017. (Twitter/Piyush Goyal)

RAI urges govt to reconsider proposed GST rate hike on textiles, apparels

Stating that the apparel retail businesses are already ailing, RAI said the 7 per cent hike has been proposed to address the issue of inverted duty structure in the textile industry faced by a small s

India-US trade didn’t quite live up to potential: USTR

Speaking before Tai, Goyal highlighted the unique task given to both him and Tai by their leaders “to strengthen our economic ties and trade based on transparency and fairness”.

Odisha approves Rs 1.5L crore investment in six months, mulls amendment to IPR-2015

The state's IPR- 2015 was mainly targeted towards investments in ancillary and down stream to metals industries, besides food processing, ESDM (electronic system design and manufacturing skill), IT, I

Govt launches domestic workers’ survey

The result of the survey, likely to be released by September next year, will help the government chart evidence-based data-driven policies.

Domestic workers

India’s GDP likely to grow 8.1% in Q2 FY22: SBI report

For the fiscal 2022, RBI has estimated real GDP growth to be at 9.5 per cent -- 7.9 per cent in Q2, 6.8 per cent in Q3 and 6.1 per cent in Q4.

Exports rise 18.8% to $20 bn so far in November

Imports during the period increased 45.34 per cent to USD 35.11 billion as against $24.15 billion during the corresponding period last year, the data showed.

Indian consumers spend to live in the moment despite inflation blues: Survey

According to the findings, 77% of consumers are optimistic about their financial situation within the next three years, as workplaces open up and COVID-19 cases show a decline.

Odisha govt approves investment proposals worth Rs 1,872 crore

The approval was given at the State Level Single Window Clearance Authority (SLSWCA) meeting held under the Chairmanship of Chief Secretary SC Mahapatra.

Corporate India profit growth to stay strong

Already strategists at Edelweiss point out that from being broad-based in FY21, profit growth has narrowed in FY22 so far, having been driven mainly by earnings of commodity players and market leaders

No legal tender status for private cryptos but innovation possible

Cryptocurrencies typically operate independently of a central bank. These are essentially digital currencies in which encryption techniques are used to regulate the generation of their units and verif

On November 18, Modi said that it is important that all democratic nations work together to ensure that cryptocurrency doesn’t end up in wrong hands.

Expo 2020 Dubai: India invites global investors to join its energy transition journey

India aims to enhance the share of natural gas in its energy basket from 7.6 per cent to 15 per cent by 2030.

expo 2020, expo 2020 Dubai, dubai expo, Expo 2020 India pavilion

Finance ministry notifies 12 per cent GST rate on MMF, yarn, fabrics from January 1; corrects duty anomaly

Currently, tax rate on MMF, MMF yarn and MMF fabrics is 18 per cent, 12 per cent and 5 per cent, respectively.

The taxation of inputs at higher rates than finished products created build up of credits and cascading costs. It further led to accumulation of taxes at various stages of the MMF value chain and blockage of crucial working capital for the industry.

Importer-exporter codes not updated after Jan 2014 will be deactivated: DGFT

The Importer-Exporter Code (IEC) is a key business identification number that is mandatory for exports or imports. No person shall make any import or export except under an IEC number granted by the D

The IEC holders who have not yet updated the relevant information can do that till December 5.

Will make effort so that Manipur gets full advantage of FTAs: Union Minister Piyush Goyal

Under a free-trade agreement, two trading partners reduce or eliminate customs duties on the maximum number of goods traded between them.

piyush goyal

Govt to exceed FY22 tax collection target, direct tax mop-up at Rs 6 lakh crore till October: Revenue secretary

The government has budgeted a 9.5 per cent growth in tax collections at Rs 22.2 lakh crore for 2021-22 fiscal (April-March).

Direct tax collections prior to refunds till November 23 of FY22 rose 48% on year to Rs8.15 lakh crore; such collections in the period were 18% higher than the corresponding period in FY20.

Future of agriculture depends on the impact on production, procurement & prices: M S Swaminathan

I am happy with the announcement today. I emphasize that C2+50 per cent is the core of the reports of the National Commission on Farmers: Swaminathan

Farm laws repeal: Progress made as stalemate ends & focus shifts to agri panel, says ITC’s Sivakumar

Since the farm laws were not implemented and were already kept on hold and now repealed does not materially change matters on the ground other than signal an end to a stalemate.

However, he does believe that the outcomes set out in the preambles of the three farm laws are still required.

Forex reserves decline USD 763 mn to USD 640.11 bn

In the previous week ended November 5, the reserves had decreased by USD 1.145 billion to USD 640.874 billion. It touched a lifetime high of USD 642.453 billion in the week ended September 3, 2021.

Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves.

Government to change tax laws in Budget to tax cryptocurrency gains

Revenue Secretary Tarun Bajaj said that in terms of income tax, some people are already paying capital gains tax on the income from cryptocurrency, and in respect of Goods and Services Tax (GST) also

Paytm, which went public this month, is driving financial inclusion among the Indians who do not have access to formal finance, he said.

Exports of agriculture, processed food products up 14.7 pc to USD 11.65 billion in April-October

The export of rice has increased to USD 5.28 billion during the first seven months of this fiscal year as against USD 4.77 billion in April-October 2020, it added.

adani ports

Farm laws repeal hailed but seen as no solution to the ills that have dogged the agri sector

Sukhpal Singh, professor and former chairperson, Centre for Management in Agriculture at the Indian Institute of Management (IIM), Ahmedabad underlined the point that the problems of the agriculture s

Non-food credit grows 7.3% in November, fastest since January 2020

In recent months, loan growth has been driven in large part by retail loans, especially in the housing segment, and enterprise credit granted to small businesses under the emergency credit line guaran

On the other hand, corporate growth remains sluggish due to underutilisation of capacities and deleveraging.
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