Economy

Watch Live: The Economist – India Summit 2019

Financial Express is live-streaming the event and you can watch it here or on our YouTube channel - https://www.youtube.com/channel/UCmk6ZFMy1CT80orXca4tKew/videos .

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India imposes anti-dumping duty on certain steel imports

JSW Steel Coated Products had moved a petition before the DGTR for imposition of the trade remedial measure on imports

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IMF slashes India’s GDP growth forecast from 7.5% to 6.1% in 2019

Moody’s Investors Service had last Thursday cut its forecast for India’s FY20 GDP growth by 40 bps to 5.8%, in what reflected a continuing trend of such downward revisions by prominent domestic an

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Coal is still the mainstay, climate debate needs reformulation: Power minister RK Singh

The country is working to attain the intended nationally determined contribution (INDC) target of reducing the emissions intensity of its GDP by 33-35% by 2030 from the 2005 level, as promised in the

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Sitharaman allays investor community fears, says will ensure contracts are honoured

The recent decision of Andhra Pradesh to renegotiate the state’s power purchase agreements with renewable power producers had unnerved the investment community.

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RCEP negotiators asked to settle issues by October 22

Trade ministers and negotiators of the 16 nations will have to present to their respective leaders which issue can or can’t be settled now so that appropriate announcement can be made at the leaders

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Law agencies should have access to source of social media messages spreading rumour: Ravi Shankar Prasad

The issue of traceability was discussed in detail between WhatsApp and the government in July this year when the messaging app’s global head Will Cathcart came to meet Prasad.

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BPCL disinvestment to be cleared in 2 weeks; Cabinet puts stake sale in 5 PSUs on fast track

The threshold of minimum government holding for PSUs to be in ETF baskets is 52%. Bharat-22 ETF is a diversified index of 22 stocks, largely comprising PSU stocks.

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Spectrum auction this fiscal; pricing reforms in the works: Telecom minister

Going by global standards the price of `492 crore per MHz for 5G spectrum is on the higher side as the South Korean auctions which happened last year had the price at `130 crore per MHz.

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How to make IBC fool-proof: Govt crowd sourcing for ideas as delays hit insolvency resolutions

The Insolvency and Bankruptcy Board of India has an electronic facility using which stakeholders can submit their feedback on even clauses or words of a particular regulation throughout the year.

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Govt against attachment of insolvent firm’s assets once CIRP is completed

In its affidavit submitted on October 10, the MCA said once a resolution plan is approved by the NCLT, it is binding on all stakeholders.

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Government to form group to study shortcomings of cooperatives: FM Nirmala Sitharaman

The idea is to amend specific Cooperative Acts in the winter session of the Parliament in December to prevent repetition of PMC like events in future.

Economy News

OECD proposal: Global tech firms’ tax liability here may rise

The proposal would be finalised by end of next year with formulae to calculate allocation of profits and corresponding taxing rights to countries and jurisdictions.

SEP criteria would determine ‘business connection’ of a company in India and whether it is liable to tax as a corporate entity and be covered under the rules of corporate taxation. News

RCEP Bangkok Ministerial: Talks on investment, e-commerce, trade remedies yet to be settled

Commerce and industry minister Piyush Goyal will attend the RCEP ministerial in Bangkok on October 11 and 12.

Economy News

PM-Kisan: No compulsory Aadhaar seeding for benefits till November 30

The farmers' data received from August 1 (about 1.35 crore, so far) will be considered for their first installment during August-November period.

Farmers have received about Rs 9,000 crore since August 1 when Aadhaar seeding was made mandatory. News

Liberal increase in DA for central government employees, pensioners-check details

The government said the combined impact on the exchequer on account of both DA and DR would be Rs 15,909 crore per annum and Rs 10,606 crore in financial year 2019-20 (for a period of eight months fro

Beginning January 2019, the government had raised the DA/DR to 12% from 9%. News

175 GW renewables by December 2022, clarifies government

The ministry of new and renewable energy (MNRE) clarified on Wednesday that the deadline for installing 175 giga-watt (GW) of renewable energy is December 31, 2022.

The renewable energy industry is one of the major FDI earners with the sector attracting $4.8 billion foreign capital since FY15. News

Uttar Pradesh to host brain-storming meet on RERA on November 1

The conclave, ‘Transforming Realty with RERA’, will be inaugurated by chief minister Yogi Adityanath and Union minister Hardeep Singh Puri and is likely to be attended by RERA chairmen of all stat

UP-RERA chairman Rajive Kumar said the objective of the one-day event is to find ways to strengthen the RERA Act. (Representational Image) News

Modi govt to offer Ayushman, Ujjwala benefits for PMAY users

The government will not just cover these beneficiaries under schemes like Ujjawala and Ayushman Bharat, but will also offer them solar energy run devices like solar cookers, etc as part of its efforts

Around 24.75 lakh houses have been occupied under PMAY (Urban) News

RCEP: PM Modi chairs key meet ahead of Bangkok round

Technical negotiations for the RCEP deal were over when chief negotiators of various countries met in Vietnam recently, after 28 rounds of talks. Goyal will represent India at the Bangkok ministerial

ries. Modi had convened a series of meetings on RCEP in recent months, said the source. (File) News

Power demand falls for second straight month of September

The power minister recently told FE that power demand falling 1.6% in August was not connected to the LC mechanism

Since electricity cannot be stored, generation is the most robust indicator of consumption trends. News

Income tax: National e-assessment centre launched

The scheme is expected to result in better quality of assessment orders while reducing potential harassment to taxpayers.

The NeAC will be based in Delhi, and will look after the functioning of e-Assessment scheme. News

Aarey case: Supreme Court asks Maharashtra government to maintain status quo

The Supreme Court on Monday asked the Maharashtra government to maintain status quo on cutting of trees in the Aarey forest for a Metro car shed after the latter assured it that no further trees will

An activist holds a placard during a protest against cutting down of trees for a proposed metro car shed project at Aarey Colony in Mumbai. (AP Photo) News

New e-commerce policy to be good and sound, says DPIIT Secretary

Speaking at the Indian Economic Summit, department for promotion of industry and internal trade (DPIIT) secretary Guruprasad Mohapatra said, "We are working on a new policy which is more comprehensive

e-commerce policy, Wilbur Ross, DPIIT Secretary, DPIIT, FDI rules in e-commerce, Amazon India News

Andhra Pradesh’s shrimp farmers join Walmart’s blockchain pilot for exports to US

Walmart has collaborated with IBM on the use of blockchain technology to enhance global food traceability since 2017.

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‘GST revenue decline cyclical, rate cuts not to be blamed’

Sources said GST revenue grew 14% during Novermber18–March19 period, which was after substantial rate cuts had been made.

gst, goods and services tax, indirect tax, gst collection in october, Rs 1 lakh crore News

PSU disinvestment: Modi govt amends process for strategic sale

From now on, the DIPAM and the NITI Aayog will jointly identify PSUs for strategic disinvestment.

DIPAM, NITI Aayog, PSU, NEEPCO, BPCL,  Air India, DIPAM secretary, Shipping Corporation News
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