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Tuesday, July 05, 2022

Aanchal Magazine


More decentralisation would mean a ‘world of Caribbean pirates’, says Chief Economic Advisor Nageswaran
Thu, Jun 09, 2022

When monetary policy becomes restrictive and higher interest rates are available from traditional instruments, it is not clear whether the innovations such as decentralised finance or cryptocurrencies will continue to thrive or not, says Chief Economic Advisor V Anantha Nageswaran

Explained: GST collections up 44% y-o-y for April sales, why this is especially encouraging
Thu, Jun 02, 2022

Experts said that apart from improved economic activity, actions against tax evaders including efforts in audits and analytics helped push the growth in GST collections

Omicron hurts Q4, GDP grows 8.7% in FY22
Wed, Jun 01, 2022

India’s GDP grew at 8.7 per cent in the financial year 2021-22, while the GDP for the January-March quarter (Q4 of FY22) rose 4.1 per cent, data released by the National Statistical Office (NSO) showed.

Explained: Snapshot of industry in ‘normal’ year that preceded the Covid pandemic
Fri, May 27, 2022

In 2019-20, the number of factories in the country increasing slightly over the previous year, and employment in individual proprietorship declined.

Year before Covid: Jobs in corporate sector, LLPs grew, proprietorships fell
Fri, May 27, 2022

This compares with a growth of 1.98 per cent in the number of factories to 2.42 lakh in 2018-19 and a 1.2 per cent growth seen in the post-demonetisation year of 2017-18.

Factories grew by 1.7 per cent in 2019-20, employed 1.3 crore workers: Govt survey
Thu, May 26, 2022

Among states, Tamil Nadu showed the highest number of employment of workers in factories at 22.09 lakh in 2019-20, followed by Maharashtra with 14.54 lakh workers and Gujarat with 15.89 lakh workers.

Excise cut on fuel: FM Nirmala Sitharaman says burden to be borne by Centre
Mon, May 23, 2022

The duty cut, effective Sunday, has a revenue implication of Rs 1 lakh crore annually for the Centre, which coupled with the earlier duty cut of November 2021 will result in a total revenue loss of Rs 2.2 lakh crore a year, she said.

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
Tue, May 31, 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 31, 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 31, 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.