Kerala Chief Minister Pinarayi Vijayan, in his letter dated November 11, said states are justified in this request.
The measures, which would help in plugging revenue leakages and boost GST revenues, will be discussed in a meeting of the law committee of the GST Council on Wednesday.
PM Modi said the Covid-19 pandemic showed that cities which are growth engines are also vulnerable zones and there is a need for a reset of processes.
Manufacturers feel that government needs to help in lifting demand for full range of electrified vehicles including hybrids by way of tax incentives to attract investments for developing EV ecosystem in the country.
Where RCEP members are concerned, India’s deficits have marginally reduced in most cases. However, its total deficit with ASEAN as a bloc has increased between 2018-19 and 2019-20, according to data from the Ministry of Commerce and Industry.
This is the highest level of Wholesale price index-based (WPI) inflation since February when it was 2.26 per cent.
For the reporting week, the rise in reserves was primarily on account of an increase in foreign currency assets (FCAs), a major component of the overall reserves.
Remittances for the purposes of maintaining relatives and gifting in September 2020 were more than in February 2020 and September 2019. Remittances for purposes of education were 10 per cent less than the figure of September 2019.
Exports in October were recorded at $24.89 billion, compared with $26.23 billion in the corresponding month in 2019, according to data shared by the Ministry of Commerce and Industry on Friday.
Owing to the pandemic, the ministry decided to create a dedicated e-mail to receive suggestions from various institutions and experts. The government's 'MyGov' portal would provide a platform to receive ideas from public on the upcoming Budget and would remain open from November 15 to 30.
Data compiled by Bloomberg showed an increase in new vehicle registrations during October, while a separate gauge pointed to a rise in credit card transactions much ahead of the holidays.
Fresh stimulus worth Rs 1.2 lakh cr; Rs 10,000 crore extra for PM Garib Kalyan to boost job creation.
The contribution of 24 per cent for both employers and employees for establishments employing up to 1,000 employees will be borne by the Centre and for establishments employing more than 1,000 employees, 12 per cent of the employees’ share will be contributed by the government.
Meanwhile, despite higher output in the sectors of mining and power generation, industrial production remained flat at 0.2 per cent growth in September, official data showed on Thursday.
CPI Inflation Date October 2020, India IIP Data September 2020: The retail inflation, which is measured through the Consumer Price Index (CPI) rose by 7.61 per cent in October. Separately, the factory output, which is measured in terms of Index of Industrial Production (IIP), expanded by 0.2 per cent in September.
In its Global Macro Outlook 2021-22, Moody's also revised upwards India's GDP forecast for calendar year 2021 to 8.6 per cent growth from an earlier projection of 8.1 per cent expansion. The Indian economy had grown by 4.8 per cent in 2019.
FM Nirmala Sitharaman announcements: To boost rural employment, Sitharaman announced an additional outlay of Rs 10,000 crore to be provided for PM Garib Kalyan Rozgar Yojana in the current financial year
FM Nirmala Sitharaman announcements: The finance minister made 12 announcements under the new Aatmanirbhar Bharat 3.0.
The RBI, however, said the economy will break out of contraction of the six months gone by and return to positive growth in the October-December quarter of 2020-21.
The PLI scheme for these ten sectors will be operational for five years with a total estimated outlay of Rs 1.45 lakh crore.
PLI Scheme: The scheme will make Indian manufacturers globally competitive, attract investment and enhance exports.
The report seeks to address a whole range of issues including transfer of funds to local bodies, disaster management grant and performance incentives to states, issues of defence expenditure.
Citing the recent estimates of loss of working hours by the International Labour Organization (ILO), SBI said “the maximum hours lost was in Q1 2021, when the lockdown was severest”.
Market experts say strong FPI inflows into bank and finance companies is in line with the fact that they are relatively undervalued.
The GST Network (GSTN) saw an even bigger surge in return-filing in September as the extended deadlines for previous months came to a close.