Economy

Govt eyes REITs model for sale of PSU assets, enemy property

REITs, which are regulated by the Sebi, are instruments for investments in real estate.
reit, government, enemy property News

PM-Aasha: Govt procurement of pulses and oilseeds touched only about 5% of target under the scheme

While on the face of it this seems to have cast a shadow over the efficacy of the scheme, government officials claim that the renewed government commitment to make market intervention under PM-Aasha i

Govt procurement of pulses and oilseeds touched only about 5% of its target under the scheme up to April 11; to continue only till June 30 News

Real estate industry complains to finance ministry about NBFCs, Indiabulls

Highlighting the specific case of Indiabulls, in a letter dated April 8, Credai has alleged that Indiabulls being one of the largest lenders in the sector is “causing undue hardship for developers a

Real estate industry complains to finance ministry about NBFCs, Indiabulls News

Supreme Court warns UP cane commissioner over non-payment of dues to Bajaj Hindusthan

A Bench led by Justice RF Nariman sought explanation from Bhoosreddy, who is the principal secretary (sugar) as well as the cane commissioner of UP on a contempt petition filed by Bajaj Hindusthan.

Supreme Court warns UP cane commissioner over non-payment of dues to Bajaj Hindusthan News

Flip-flop: Government withdraws fiat banning LLPs in manufacturing

Analysts were of the view that the memo would impact not just the government’s efforts towards enhancing ease of doing business, but also the drive for corporatisation of un-incorporated entities.

The MCA’s central registration centre (CRC) had come out with the OM. News

Cases under old companies act: Promoter too can seek revival during liquidation, says NCLAT

It set aside an August 7, 2018 order of the Mumbai bench of the National Company Law Tribunal that dismissed erstwhile promoters’ plea for revival of the Amar Dye Chem.

Cases under old companies act: Promoter too can seek revival during liquidation, says NCLAT News

Tariff trigger: Trump stirs alarm that he may be giving China a new trade weapon

Details of the US commitments and how the enforcement mechanism will operate remain scant. But Mnuchin’s comments have caused plenty of raised eyebrows from legal scholars to the business community

Mechanism being contemplated would require consultations between US and China over disputes but ultimately allow either side to impose sanctions unilaterally News

Supreme Court stays HC order allowing handing over of La-Fin mgmt to Jignesh Shah

Financial creditor IL&FS Financial Services had moved the apex court against the HC orders of March 4 and April 9 that stalled the insolvency proceedings initiated against La-Fin by NCLT, Mumbai

SC stays HC order allowing handing over of La-Fin mgmt to Jignesh Shah News

RBI to NCLAT: Banks must mark IL&FS accounts as NPAs after default

The appellate tribunal, however, said there appeared a conflict between this RBI norm and the Insolvency and Bankruptcy Code (IBC) rule that a company should continue as a going concern till a resolut

RBI to NCLAT: Banks must mark IL&FS accounts as NPAs after default News

Pre-packaged insolvency resolution: Govt seeks stakeholder comments

Pre-packaged insolvency resolution scheme allows creditors and shareholders to approach bankruptcy courts with a pre-negotiated corporate reorganisation plan.

Pre-packaged insolvency resolution: Govt seeks stakeholder comments News

Income tax return: CBDT amends Form 16, Form 24Q for detailed reporting on TDS

CBDT has notified amendments in Form 16 — which acts as certificate for tax deducted at source (TDS) —and Form 24Q — quarterly TDS statement for salaries.

Income tax returns: CBDT amends Form 16, Form 24Q for detailed reporting on TDS News

India’s coal imports surge 40% owing to washery shortage

The firms have warned that imports of the fuel, which could drive up India’s goods trade and current account deficit, could rise further if adequate number of domestic washeries are not set up in th

India’s coal imports surge 40% owing to washery shortage News

India to host informal ministerial of WTO on May 13-14

The move comes at a critical time when growing unilateral protectionist policies by the US and some others, and a trade war involving the world’s top two economies, have put to test the multilateral

India to organise informal ministerial of WTO on May 13-14 News

Trade deficit narrows: Exports up 11% in March, 9% in FY19

Merchandise exports in March stood at $32.55 billion against $29.32 billion in the same month last year. This is the best growth rate for exports since October 2018, when shipments grew by 17.86%.

Trade deficit narrows: Exports up 11% in March, 9% in FY19 News

States procure more than Centre on GeM portal in FY19

GeM was set up in August 2016 to improve transparency as well as efficiency of the public procurement system. The Centre has now made it mandatory to buy such items through GeM for its various departm

States procure more than Centre on GeM portal in FY19 (Representational image) News

PSU disinvestment: Govt invites suiters for sale of 98% stake in drugmaker IMPCL

The last day for submitting EoIs is May 18. The selected bidder will be required to lock in its shares for a period of three years

Govt invites EoIs for sale of 98% stake in IMPCL (Representational image) News

Developing country tag: US seeks review at WTO, targets China, India

Analysts say India, with poor per capita income and HDI ranks, can’t be compared with China, Singapore or South Korea.

Economy News

Food Corporation takes fresh NSSF loan of Rs 60,000 crore

The budgeted food subsidy through FCI for 2018-19 was Rs 1.4 lakh crore (of the total food subsidy of Rs 1.7 lakh crore), of which, the Centre has paid about Rs 80,000 crore from the Budget.

Economy News

Disposing demonetisation cases: CBDT sets June 30 deadline for assessment

Nearly 80,000 assessees have still not replied to notices after they were found to have deposited cash during the demonestisation period that was not commensurate with their profile.

Economy News

Future direction of China’s growth glimpsed in historic town’s revamp

President Xi Jinping has given himself more wiggle room by lowering the annual growth target to a range of 6 to 6.5 percent this yea

china, economy News

Sates provided wrong data to avoid transmission charges

States have been providing misleading data to save on transmission charges of electricity, a report published by the Central Electricity Regulatory Commission (CERC) pointed out.

Industry News

Upgrade existing lines to improve transmission, CEA tells power utilities

The Central Electricity Authority has suggested power utilities to consider installing high-performance conductors in their existing and new power lines. Conductors constitute 30%-40% of total cost of

Industry News

GST evasion in Gujarat: Rs 360 crore recovered in 1,500 cases

The Goods and Service Tax (GST) department has registered over 1,470 cases of tax evasion in the financial year 2018-19 and recovered around Rs 360 crore in Gujarat.

Economy News

Public sector banks to get more govt capital in H1FY20

The finance ministry believes the worst is over for state-run banks as they are well capitalised at the moment. The government had infused around Rs 1.06 lakh crore in FY19.

Banking & Finance News
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