ECONOMY NEWS - Page 103

Speaking at the India Global Forum, the minister said Twitter last week blocked his account for an hour on a complaint made four years ago under the Digital Millennium Copyright Act of the US. (File photo)

IT Min invites applications for 2nd round of electronics manufacturing under PLI

March 15, 2021 06:00 IST

The application window for the scheme has been opened till March 31, which may be further extended, as per guidelines issued by Ministry of Electronics and IT.

The chamber said it is necessary to expressly exempt independent directors from vicarious criminal liability since they are not involved in the day-to-day running of the company.

CII suggests govt: Put in place safe harbours for independent directors

March 15, 2021 05:56 IST

The CII has submitted a paper to the Ministry of Corporate Affairs highlighting matters with respect to framework for settlement of offences; liability of independent directors; vicarious liability, etc.

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Recovery continues but losing tempo

March 15, 2021 05:47 IST

While the services sector is picking up, the February composite PMI was up at 57.3 from 55.8 in January — the loss of momentum elsewhere is a concern at a time when there is fresh surge of covid infections especially in key states like Maharashtra.

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‘State-sponsored attacks on NGOs rose in past 1 year’Subscriber Only

March 15, 2021 05:22 IST

“There are probably different motive behind such attacks but that is something we have seen is increasing. We are also seeing increase in attacks on manufacturing sector. It is not clear whether it is a multi-faceted attack but you can see where the attack is happening from,” Mary Jo Schrade told The Indian Express.

Subramanian’s comment comes ahead of the revision of policy framework and inflation targets. (File)

CEA calls for focus on growth even with economic trade-offs

March 14, 2021 04:32 IST

CEA Krishnamurthy V Subramanian's comment comes ahead of the revision of policy framework and inflation targets by the Monetary Policy Committee headed by the Reserve Bank of India Governor Shaktikanta Das by March 31.

During the meeting chaired by Thakur, various issues, including the provision of world class training facilities for the Olympic-bound athletes were discussed. (File)

‘Economy looking at V-shaped recovery’: Anurag Thakur

March 14, 2021 04:21 IST

Anurag Thakur further said the country’s foreign exchange reserves, which have been rising steadilyover the last few months, had touched all time high at $590 billion in January 2021.

Sebi’s statement said it will specify the eligibility criteria for such investors who can get the accreditation from agencies such as stock exchanges, subsidiaries of depositories and so on.
(File Photo)

Finance Ministry asks Sebi to withdraw directive on tenor of AT-1 bonds

March 13, 2021 04:56 IST

The new rules, which are aimed at reducing concentration risk in MFs bond portfolio and trying to accurately price risk in light of recent defaults by some banks on AT-1 bonds (Additional Tier 1), will kick in from April 1.

Manufacturing output, which has a weight of 77.6 per cent in the IIP, contracted 2.0 per cent in January from a growth of 2.1 per cent in December, while mining output contracted 3.7 per cent from a 4.2 per cent contraction in the previous month. (Representational Image)

Factory output slips back into negative, retail inflation risingSubscriber Only

March 13, 2021 04:15 IST

The sharp pickup in inflation is indication that the RBI may need to have another look at its accommodative stance going forward.

This is the third straight month that the CPI data has come within the Reserve Bank of India’s (RBI) upper margin of 6 per cent. (File photo)

Retail inflation rises to 5.03% in Feb; IIP contracts 1.6% in Jan: Govt data

March 12, 2021 18:14 IST

India CPI Inflation Rate February 2021, IIP Growth Rate January 2021: The retail inflation, measured Consumer Price Index (CPI) rose to 5.03 per cent in February. Separately, the factory output, measured in terms of Index of Industrial Production (IIP), contracted by 1.6 per cent in January.

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Cabinet paves way for raising FDI limit in insurance sector to 74%Subscriber Only

March 11, 2021 12:24 IST

Raising the foreign investment limit in the insurance sector is expected to improve capital availability and foster competition in the sector.

Government to restore 3 pending dearness allowance installments from July

March 12, 2021 08:23 IST

Dearness allowance (DA) 2021: All central government employees and pensioners to get full benefits of dearness allowance from July 1, and all three pending installments will be restored prospectively, Minister for State (MoS) for Finance Anurag Thakur said in a reply in the Rajya Sabha.

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Those giving gyan must have courage to verify themselves; law against social media abuse: Ravi Shankar PrasadSign In to read

March 8, 2021 07:58 IST

In an exclusive interview with The Indian Express, Prasad for the first time talks about the need to introduce the new guidelines, the case for regulation of big tech companies and what would happen if social media intermediaries do not follow the government laid norms in future.

An Indian tax intelligence unit in mid-March ordered HSBC and Citibank in Mumbai to freeze bank accounts of ByteDance India as it probed some of the unit’s financial dealings. ByteDance has challenged the freeze on the four accounts in a Mumbai court. (Representational image)

Eye on US bond yields, FPIs pull out Rs 4,275 crore from debt market in a week

March 8, 2021 01:35 IST

According to data available from the National Securities Depository Ltd (NSDL), overseas investors pulled out a net Rs 881 crore from equities and Rs 4,275 crore from the debt segment between March 1 and 5, taking the total net withdrawals to Rs 5,156 crore.

Of the total investment made by Indian companies in foreign markets, $1.36 billion was in the form of loan. (Representational)

India Inc’s overseas direct investment falls 31% in Feb

March 8, 2021 01:23 IST

Domestic companies made investments of $2.66 billion in their overseas subsidiaries and joint-ventures in the year-ago month, February 2020.

Mills will be paid more for ethanol produced from ‘B-heavy’ molasses (Rs 57.61/litre) and cane juice (Rs 62.65/litre) than from the conventional ‘C’ molasses route (Rs 45.69/litre). File

As ethanol turns cheaper than petrol, sugar industry sees opportunitySubscriber Only

March 8, 2021 08:40 IST

Oil marketing firms set to procure record amount to blend with petrol

The due date was extended from July 31 and October 31, 2020, respectively in view of the COVID-19 pandemic. (Representative image)

Tax notices, summons served to pre-GST, dispute resolution casesSubscriber Only

March 8, 2021 01:34 IST

The summons have been sent under Section 70 of CGST Act, which provides powers to tax officers to summon persons to give evidence and produce documents.

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Non-basmati rice exports surge as West Asia, Africa build reservesSubscriber Only

March 7, 2021 01:17 IST

Shipments of the staple food grain between April 2020 and January 2021 more than doubled over the same period in the previous financial year, showed provisional government data.

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15th Finance Commission opted for continuity, predictability: N K Singh

March 7, 2021 01:07 IST

Speaking at a webinar organised by the Centre for Policy Research, NK Singh said the 15th Finance Commission had an option of continuing the trajectory of enhancing devolution to a somewhat higher figure.

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E-comm players may take the ‘interactive’ route soon

March 7, 2021 01:00 IST

To put it simply, companies will have to curate a blended model — embedding content to drive consumer engagement, allowing easy discoverability of products and supporting a network of influencers and community participation.

Anurag Thakur: Govt open to evaluate, explore cryptocurrencies

March 6, 2021 19:44 IST

The government would take a decision on the recommendations of the IMC and the legislative proposal, if any, would be introduced in Parliament following the due process, Anurag Thakur said.

Consultations between the Finance Ministry and the Reserve Bank of India indicate the government will continue to retain the existing inflation band, a senior government official said on Friday. In pic, Finance Minister Nirmala Sitharaman (right) and Reserve Bank of India Governor Shaktikanta Das. (File/ANI)

Govt, RBI likely to retain inflation band for next 5 yearsSubscriber Only

March 6, 2021 07:41 IST

There was a proposal before the government to increase the band from the current level in the wake of the sluggish growth induced by the Covid pandemic