Economy

PM Kisan scheme: Over 2.25 crore farmers get Rs 2,000 since April 1

The scheme, estimated to cost Rs 75,000 crore annually, took retrospective effect from December 1, 2018. The Modi government’s plan was to ensure the scheme’s benefit reach as many as eligible fa

Economy News

Italy accuses EU of prejudice after grim economic forecasts

Rome has forecast growth of 0.2 percent this year and 0.8 percent in 2020, 0.1 percentage points above the Commission for each year, but after the first quarter data Economy Minister Giovanni Tria sai

Italy EU, italy crisis, parallel currency, italy, italy mini bot, italy treasury bills News

Farmer producer companies provide work to 11,900 drought-hit Maharashtra farmers

Maha-FPC has entered into a joint venture with the National Agricultural Cooperative Marketing Federation (Nafed) to develop a value chain for onion procurement in Maharashtra.

Nafed begins procurement of onion from Lasalgaon News

US may hold move to withdraw GSP till new India govt takes over

Ross, who is on a visit to India, echoed President Donald Trump’s charge of India being a “tariff king”. “India’s average applied tariff rate of 13.8%, and that remains the highest of any ma

Economy News

RBI’s holding company model for banks will help contain NPAs, says Charan Singh

Reserve Bank of India: The central bank's proposal to have holding company (holdco) model for banks is expected to increase efficiency but some issues need clarity.

RBI, Reserve Bank of India, Public Sector Bank, Holding Company Model, HoldCo News

US may take final decision on GSP issue after formation of new govt

The seven-phase general elections in India will complete on may 19 and the counting of votes will take place on May 23.

Economy News

US wants India to eliminate trade barriers; expects new govt to address issues

India has 50 per cent import duty on motorcycles and 150 per cent on alcoholic beverages, "Just a few extreme examples", he added.

India, indian economy, US, trade barriers, indian trade barriers, economy news

RBI’s regulatory sandbox: How unclear framework could be simplified

The Reserve Bank of India (RBI) recently released a Draft Enabling Framework for [a] Regulatory Sandbox (DFRS), in a bid to foment innovation in the Indian financial sector.

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US wants India to eliminate trade barriers for American companies, says Commerce Secretary Wilbur Ross

It has 50 per cent tariff on motorcycles and 150 per cent on alcoholic beverages.

Economy News

First round of negotiations for the India-Ecuador Free Trade Agreement to take place soon

The respective investment promotion agencies of the two countries are already promoting greater exchange of information on investment and business opportunities in both countries.

india ecuador ties, india Ecuador Free Trade Agreement, FTA, JETCO, Agricultural products, Indian garment industry,  customs duties  News

IMF chief Christine Lagarde says US-China tensions ‘threat’ to world

China said Tuesday its top trade negotiator will visit the United States for talks with his American counterparts this week.

Economy News

China confirms top trade negotiator Liu He to lead US for new round of talks

The commerce ministry said in a statement that Liu will be in the US on Thursday and Friday for the 11th round of high-level negotiations.

US China trade, US china trade talk, Liu He,  United States, Donald Trump, china, tariffs hike News

Record April GST collection an exception rather than a rule; not enough to brigde fiscal deficit

While April's record GST collection was closest to the 1.15 trillion rupees monthly target set by Prime Minister Narendra Modi’s administration, it’s still not enough to bridge the government’s

GST, S&P Global Ratings, GST bill, FRBM Act, GDP ratio, deficits of state government, latest news on gst News

GST will not reduce deficits of state governments significantly, says report

S&P Global Ratings credit analyst YeeFarn Phua in the report titled "Public Finance System Overview: Indian States" noted that the passage of the GST bill in 2017 is a major overhaul of tax structure

GST, S&P Global Ratings, GST bill, FRBM Act, GDP ratio, deficits of state government, latest news on gst News

China reneged on trade commitments, sparking Donald Trump tariff hike

Trump tweeted on Sunday that he would raise tariffs on $200 billion worth of Chinese goods to 25 percent from 10 percent by the end of the week, and would "soon" target the remaining Chinese imports w

china, US china trade, donald trump, trump tariff hike on china, world economy, chinese goods, Steven Mnuchin News

India, US pledge to boost bilateral trade

A source told FE that contentious issues – including India’s concern about the extra tariff levied on steel and aluminium supplies and tightening of the US visa regime and the American demand for

Economy News

Tax returns in FY19 seem low because of delayed filing barred, says CBDT

Finance Act, 2017 was amended in April last year to mandate that a revised return for an earlier year could be furnished only up to the end of the subsequent assessment year and not further.

Income tax e-filings, Income Tax Department, GST filing data, PSE borrowings, indirect tax revenues News

Ability to grow amid global slowdown is a hallmark of India

The recent global economic outlook report by IMF and the annual outlook report by ADB are both cases in point. One distinctive feature of India’s growth is its ability to grow amid an all round glob

Economy News

Economic growth revival will be priority of the next govt

The next government may have its task cut out to revive flagging economic growth. We believe a combination of monetary stimulus and structural reforms may help revive growth over time.

Economy News

Does EPFO have enough surplus to pay out a 8.65% interest rate?

Questioning the Fund’s exposure to IL&FS and similar risky entities, the ministry of labour and employment has been asked by finance ministry to explain whether the EPFO has sufficient surplus for

Economy News

Donald Trump says not going to allow trade deficit with China any more

These payments are partially responsible for America's great economic results, he said.

donald trump, china us, US china trade, trade war, tarrif war, xi xinping News

Donald Trump’s threat of more tariffs on Chinese goods came after Xi Jinping vetoed concessions to US: Report

US President Donald Trump said that the tariffs paid to the US have had little impact on product cost, mostly borne by China.

Economy News

Income-tax e-filers declining? Number of e-returns actually went up, says CBDT

Income Tax Return E-filing: The apex body for administration of direct taxes in the country has clarified that there is no decrease in the number of efilers in the country in 2018-19 in comparison wit

CBDT, Central Board of Direct Taxes, Income Tax Return, E Filers, News

Donald Trump slams China on trade, says won’t lose to Beijing

U.S. President Donald Trump on Monday slammed China over its trade practices, saying the United States was losing billions to Beijing and vowing to protect American commerce as tension escalated follo

Economy News

Over 100 US companies visiting India to explore business opportunities

Representatives of over 100 American companies are visiting India as part of the US Department of Commerce's annual trade mission programme, Trade Winds, which started Monday.

Economy News

Warren Buffett says trade war between US-China would be ‘bad for the whole world’

Warren Buffett said on Monday that a trade war between the United States and China would be "bad for the whole world."

Economy News

Unemployment raises head again as Modi looks to woo voters

The unemployment rate surged in April to 7.6 per cent after seeing a dip in the previous month at 6.71 per cent.

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