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Sunday, May 22, 2022

Aanchal Magazine


To cool inflation heat, Govt cuts excise on fuel, tweaks duty on raw materials
Sun, May 22, 2022

Sitharaman urges states to follow suit; Kerala cuts taxes; duty on iron ore exports hiked to 50%

Explained: The SC ruling that GST Council decisions are not binding on Centre or states
Sat, May 21, 2022

The Centre has said that the decision does not bring any change to the already existing framework. But some Opposition-ruled states have stated that it would give them greater space to take decisions in the federal structure.

Record spike in WPI inflation: Cause, effect
Tue, May 17, 2022

Another round of repo rate hike is expected in June, with its quantum being as high as 40 basis points.

Rising prices drive wholesale inflation to record high of 15.1%
Wed, May 18, 2022

India's WPI Inflation April 2022: This is the highest WPI print in the 2011-12 series.

Rural pinches more in high inflation states
Tue, May 17, 2022

Retail inflation has persisted above the Reserve Bank of India’s (RBI’s) inflation target for the fourth straight month, with price levels rising to an 8-year high of 8.38 per cent in rural areas in April while urban inflation was at a 18-month high of 7.09 per cent.

Logistics overhang: Rupee fall unlikely to boost exports
Mon, May 16, 2022

The rupee has depreciated by 4.18 per cent since the beginning of the year and closed Friday’s trading session at 77.44 against the greenback.

Retail inflation at 8-year high of 7.79% in April
Fri, May 13, 2022

High price levels of fuel and food items, especially of vegetables, spices and oils/fats, along with household services, contributed to the sharp rise in inflation, a level which is seen as being partly responsible for preempting the unscheduled repo rate hike of 40 basis points by the RBI last week.

Explained: Why PAN, Aadhaar have been made mandatory for high-value cash deposits & withdrawals
Fri, May 13, 2022

The mandatory condition of obtaining PAN for deposit and withdrawals would help the government in tracing the movement of cash in the financial system.

Beating inflation: RBI may have to kill demand, hike rate, suck liquidity
Thu, May 12, 2022

Most of the risks to inflation are seen emerging from the crisis due to the Ukraine-Russia war. The repo rate – the rate at which the RBI lends to banks – was 5.15 per cent in February 2020 before the pandemic.

‘High food prices may fuel inflation up to 7.7% in April’
Sat, May 07, 2022

Geopolitical tensions, heat wave impacting food prices, especially of wheat, along with an overall increase in transportation costs due to fuel price hike have added to the surge in inflation rate, which had risen to a 17-month high of 6.95 per cent in March.

Tax reassessment: I-T has 30 days to send notices
Fri, May 06, 2022

According to the top court’s judgment, the assessing officer will, within 30 days from May 4, provide the respective assesses the information and all relevant material which was relied upon to send the income tax recovery notice to them.

Explained: Why online gaming could now attract a higher GST of 28%
Tue, May 03, 2022

Casinos, online gaming and race courses could soon attract a GST of 28 per cent. West Bengal Finance Minister Chandrima Bhattacharya said there is consensus among states that (on) these three, the highest rate of tax should be levied.

Casinos, online gaming: GoM on board for GST hike to 28%
Tue, May 03, 2022

The GoM will then finalise the method for valuation of these services. At present, services of casino, horse racing and online gaming attract 18 per cent GST,

Explained: States vs Centre on fuel taxes
Fri, Apr 29, 2022

The Prime Minister has noted that certain states have not reduced VAT; states have attributed rising fuel prices to central taxes. How is fuel taxed, and how are collections shared between the Centre and states?

Explained: For state governments, why cutting taxes on fuel is easier said than done
Thu, Apr 28, 2022

The reluctance to reduce excise duty and VAT on fuel stems from the fact that it constitutes an important source of revenue for both the Union government and the states.

Centre, states have to align more to boost investments: CII chief T V Narendran
Tue, Apr 26, 2022

The CII chief also said that the Russia-Ukraine war has presented Indian steel exporters with an opportunity in the light of “space vacated by Russia and Ukraine” in the sector.

CII chief TV Narendran: ‘Industry can’t have unfair expectations on interest rate cycle’
Tue, Apr 26, 2022

Many MSMEs have also done well but there are many who have struggled. So you need to have a sector-specific approach rather than a MSME approach in general because not all of them are doing badly.

Finance Minister Nirmala Sitharaman puts in a word with IMF, assures Lanka of ‘cooperation’
Wed, Apr 20, 2022

India has so far committed $1.9 billion to Sri Lanka in the form of credits for essential commodities and fuel, and also in loans and currency swaps.

Growing concern as wholesale inflation up to 14.55%, pressure on retail prices
Sat, Apr 30, 2022

Trend reversal with CPI inflation converging towards WPI inflation worries policymakers

Explained: Inflation heats up but why it hasn’t singed political economy yet
Mon, Apr 18, 2022

The runaway prices have not adversely impacted political outcomes, given the results of recent state elections. What’s worrying the government's economic managers is the rise in wages due to rising food prices, which will have a spill-over effect on wholesale inflation.

At 6.95%, inflation up to 17-month high; slight uptick in sluggish industry output
Wed, Apr 13, 2022

This marks the third successive month when retail inflation, based on the Consumer Price Index (Combined), stayed above the upper tolerance limit of the medium-term inflation target of 6 per cent set by the Reserve Bank of India (RBI).

Explained: Concessional tax rate regime
Wed, Apr 13, 2022

The concessional corporate tax rate announced by the Union government in September 2019 saw two out of every five new domestic manufacturing companies incorporated in 2019-20 (April-March) opting for the reduced 15 per cent tax rate.

Two out of five new companies opted for 15% tax in 2019-20
Mon, Apr 11, 2022

These companies, numbering 1,244 in 2019-20, cumulatively accounted for just Rs 35.13 crore in total income, government data showed.

India-Netherlands ties: Climate, water initiatives likely to take centre stage
Mon, Apr 04, 2022

The Netherlands will be co-hosting a 3-day UN conference on March 22, 2023 for taking action on sustainable water management with Tajikistan.

Netherlands offers to be India’s ‘gateway’ to fuel EU’s green shift
Sun, Apr 03, 2022

The war in Ukraine has put dialogue around energy dependence in a faster transition mode, said the Netherlands’ Climate Envoy Prince Jaime de Bourbon de Parme, adding there’s potential for the Netherlands and India to explore trade in green hydrogen.