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GST revenue shortfall: Kerala CM urges PM to raise borrowing limit

November 19, 2020 2:16:56 am

Kerala Chief Minister Pinarayi Vijayan, in his letter dated November 11, said states are justified in this request.

GST Council law panel to take up steps to curb fake invoices

November 18, 2020 1:28:11 am

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.

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PM Modi: Invest in urbanisation, India has exciting opportunities

November 18, 2020 1:18:37 am

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.

Industry: PLI to help EV ecosystem; tax breaks for hybrids key

November 18, 2020 12:49:46 am

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.

Study on benefits, costs helped govt firm up RCEP stand

Study on benefits, costs helped govt firm up RCEP stand

November 17, 2020 10:50:10 am

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.

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WPI inflation at 8-month high of 1.48% in October on costlier manufactured items

November 16, 2020 1:12:48 pm

This is the highest level of Wholesale price index-based (WPI) inflation since February when it was 2.26 per cent.

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Forex reserves at fresh peak, rise by $7.77 billion

November 15, 2020 1:04:36 am

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.

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Money sent abroad under LRS touches pre-Covid levels in Sept; a lot of it is gift

November 14, 2020 2:06:49 pm

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.

After a positive September, exports slip in October; imports down 11.53%

November 14, 2020 12:51:33 am

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.

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Industry bodies, experts to submit ideas on Budget 2021 via e-mail: FinMin

November 13, 2020 6:30:10 pm

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.

Diwali: Festive season shopping shows Indian economy is on a path of recovery

November 13, 2020 11:02:36 am

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.

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Sitharaman unveils Atmanirbhar 3.0: Incentives for hiring, real-estate; more credit for stressed sectors

November 13, 2020 4:20:24 am

Fresh stimulus worth Rs 1.2 lakh cr; Rs 10,000 crore extra for PM Garib Kalyan to boost job creation.

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Govt to bear 2 years’ share of PF for laid-off, new workers

November 13, 2020 1:10:49 am

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.

October retail inflation at 77-month high; factory output flat in September

November 13, 2020 12:24:10 am

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.

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Retail inflation grows 7.61% in Oct; IIP rises 0.2% in Sep: Govt data

November 12, 2020 10:30:14 pm

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.

Moody’s revises upwards India GDP forecast to -8.9% in 2020

November 12, 2020 5:37:21 pm

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.

Scheme to incentivise job creation, credit line for stressed sectors: Top Sitharaman announcements

November 12, 2020 6:28:51 pm

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 Sitharaman announces Aatmanirbhar Bharat Rozgar Yojana to incentivise job creation

November 12, 2020 3:37:24 pm

FM Nirmala Sitharaman announcements: The finance minister made 12 announcements under the new Aatmanirbhar Bharat 3.0.

Recession: July-Sept GDP to contract 8.6%, estimates RBI

Recession: July-Sept GDP to contract 8.6%, estimates RBI

November 12, 2020 10:25:33 am

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.

Auto to tech, 10 more sectors to gain from hike in PLI allocation

Auto to tech, 10 more sectors to gain from hike in PLI allocation

November 12, 2020 4:06:53 pm

The PLI scheme for these ten sectors will be operational for five years with a total estimated outlay of Rs 1.45 lakh crore.

Auto to tech, 10 more sectors to gain from hike in PLI allocation

Cabinet approves PLI scheme worth Rs 1.46 lakh crore for 10 sectors

November 11, 2020 9:52:28 pm

PLI Scheme: The scheme will make Indian manufacturers globally competitive, attract investment and enhance exports.

Finance Commission submits report to President

November 10, 2020 2:22:13 am

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.

Electoral bonds of Rs 282 crore sold ahead of Bihar elections

Need further stimulus to offset loss of working hours: SBI research

November 10, 2020 2:16:49 am

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”.

Sept quarter: DIIs, FPIs train eyes on banking, finance stocks amid economic greenshoots

November 10, 2020 2:10:45 am

Market experts say strong FPI inflows into bank and finance companies is in line with the fact that they are relatively undervalued.

Amid updated GSTN infra, Oct returns post 36% jump

November 9, 2020 2:41:10 am

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.