On the other hand, in urban areas, the pent-up demand for consumer goods — a major contributor to the pick-up in consumption in the second half of 2020-21 — is unlikely to be a factor this year, further denting the growth prospects.
The United States will pursue negotiations at WTO to waive intellectual property for Covid-19 vaccines. This can allow large-scale production in middle-income countries, but there are arguments against the move.
A waiver on IP protections would mean pharmaceutical firms and vaccine makers across the world can learn how to make these vaccines without fear of lawsuits from companies that originally developed them.
The April collections, which account for sales in March, mark the seventh month where the monthly GST collections have crossed the Rs 1-lakh-crore mark. GST revenue had dipped to an all-time low of Rs 32,172 crore in April 2020.
In April, India witnessed the highest demand for vaccines in a month with 90.50 million doses administered by 6.30 pm on Friday, more than the monthly production capacities of Covishield and Covaxin combined.
From Gurugram to Srirangapatna, the Covid-19 pandemic and the lockdown-induced economic distress deepened a structural problem that India’s labour market was already witnessing -- participation of women in the workforce.
The Advisory Board is learnt to have flagged the purchase of stainless steel utensils through a tender process by the Maharashtra government, the distribution of umbrellas and lanterns was red-flagged in Himachal Pradesh.
On an average, capital expenditure for the current fiscal has taken a hit of over 11 per cent in these states – Bihar, Chhattisgarh, Gujarat, Jharkhand, Karnataka, Kerala, Madhya Pradesh, Maharashtra, Odisha, Rajasthan, Uttar Pradesh, West Bengal and Uttarakhand.
The Finance Ministry has been nudging the EPFO to reduce the rate to a sub-8 per cent level in line with the overall interest rate scenario. EPFO rate continues to be the highest among other savings instruments.
A CBT member said discussions on the investment portfolio of the retirement fund body took place and keeping the returns in consideration, the Board made the recommendation for 8.5 per cent interest rate.
"There have been instances of tax evasion. The movies produced by the production house have been superhit, but the profits and account statements of the company are showing disproportionately low income," an official told The Indian Express.
“The government will file an appeal against Cairn arbitration award soon and will contest its sovereign rights to tax. It will also strongly contest other suits filed by Cairn Energy at various other international courts,” an official said.