Economy
Non-food credit growth falls to 6.2% during fortnight ended July 30
As on July 30, outstanding non-food credit stood at Rs 108.33 lakh crore, showed data released by the RBI. Deposit growth slowed to 9.8% YoY from 10.65% in the previous fortnight. The value of bank deposits was Rs 155.49 lakh crore as on July 30.
Centre, states to allocate Rs 3 lakh crore for education, nutritional support
At present, around 15 crore children and youths between the ages of three and 23 are out of this system. Pradhan said the change is necessary to ensure a productive workforce.
Robust tax revenues this fiscal to improve tax-GDP ratio: Revenue secretary Tarun Bajaj
The governments’ gross tax collections (after refunds but before devolution) stood at Rs 5.31 lakh crore in Q1FY22, 97% higher than receipts of Rs 2.7 lakh crore in the Covid-affected Q1FY21 and 33%
Food grains output in 2020-21 crop year at record 308.65 MT as per 4th advance estimate
Releasing the fourth advance estimates of production of crops, agriculture minister Narendra Singh Tomar said the record production was possible due to “tireless work of farmers, skill of the scient
Govt finalising plan to monetise Rs 6 lakh crore infra assets: DIPAM secretary Tuhin Kanta Pandey
“There is a big asset monetisation pipeline where private sector participation is anticipated,” Pandey told industry representatives.
GST compliance: E-way bills made quick and hassle-free
The latest TallyPrime version promises seamless connected E-way bill experience and personalised business reporting
Weighted average cost for state loans at 8-week low on high demand
The fall in borrowing costs can also be attributed to the fall in global prices of crude oil and industrial metals, which have eased concerns over inflation
Earning pains: Fewer people reported income over Rs 100 cr in AY21
Their number had jumped 83%, year on year, in the assessment year 2019-20. Of course, the number of people with cumulative wealth of over Rs 100 crore would be much larger in the country.
PM launches Ujjwala Yojana 2.0 in poll-bound UP
In the Budget for FY22, the government had pledged to provide one crore more LPG connections under the PMUY.
Vaccination drive, waning second wave set stage for economic revival: Finmin report
The services sector, which accounts for more than 55% of the gross domestic product, shrank for a third straight month in July, although the level of contraction narrowed from June, PMI data showed.
Benchmark bond yield falls as crude oil prices soften
“The fall in yields on the new 10-year benchmark bond is mainly due to easing Brent crude oil prices after China imposed travel curbs following the rising Covid cases in the mainland,” a senior de
TN unveils white paper on state’s rising debt, chronic revenue deficit
As per the interim budget estimate (IBE) of 2021-22, the overall debt of the state will be ₹5,70,189 crore. Its public debt (excluding the Centre’s debt) as percentage of GSDP is 26.69%, which is
Unemployment rate rises to six-week high of 8.1%
Unemployment rate, defined as the percentage of unemployed persons in the labour force, was 7.3% for the week ended July 4. It rose to 7.64% the next week before falling to 5.98% for the week ended Ju
E-way bill generation maintains momentum in August
However, the daily average e-way bills for the first eight days of August were 5.8% lower than the daily average for the full month of July. Going by the trend, the daily average is expected to pick u
‘Tax demands on post-May 2012 cross-border deals not to lead to disputes’
India has also prepared a new model text for India's Bilateral Investment Treaty (BIT), which explicitly bars any enterprise from a treaty partner country from seeking relief in tax disputes under the
Lok Sabha passes Bill, retrospective tax law on its way out
Jaitley had said in the House that the law could not be amended at that time as the matter was sub judice, Sitharaman recalled. The government was not in a position to make legislative changes as the
In the times of covid: Finding purpose and strength in adversity
It is human empathy and philanthropy that will help us get through these dark times and lead us to a better and brighter world.
GST hit Kerala’s tax revenue, system needs rethink: KN Balagopal
The state government fears that the state's tax revenues would deteriorate once the five-year guaranteed GST compensation ends in June 2022.
Unemployment: Urban Maharashtra was worst-hit in April-Sept last year
According to the July-September, 2020, quarterly report of the periodic labour force survey (PLFS), which estimates labour force indicators in the current weekly status (CWS) for urban areas alone, Jh
Demand for MG-NREGS work still high, supply seems curbed
In March 2021, 3.59 crore persons demanded MG-NREGS work, which rose to 4 crore in April, 4.14 crore in May and further to 5 crore in June. In July, 4.26 crore persons demanded work under the job guar
At 17% in July, GST e-way bill generation highest in four months
Average daily e-way bill generation was 24.3 lakh in the last six days of July, compared with 20.2 lakh in the week ended July, 25, 20.4 lakh in preceding week and 19.24 lakh in the first 11 days of J
Free grains scheme costing Rs 2 lakh crore, helped reduce hunger: PM
Launching an awareness campaign about the Pradhan Mantri Garib Kalyan Anna Yojana (PMGKAY) in Gujarat, Modi said: “The country is spending over Rs 2 lakh crore on this account... The free rations re
Over 14% of land-owning farmers benefit from MSP purchases: Minister
The accurate number of farmers benefiting from the MSP declaration is difficult to assess, agriculture minister Narendra Singh Tomar said in a written reply in Lok Sabha. However, farmers who benefitt
Expect status quo on policy, but look out for signals from MPC
Ever since COVID-19 hit, the central bank’s message has been clear —the focus is on reviving growth first and foremost.
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