Journalism of Courage
ECONOMY NEWS - Page 108
India’s services sector activity expands at slower rate in December; staff hiring halts
January 6, 2021 12:00 IST
The seasonally adjusted India Services Business Activity Index fell from 53.7 in November to 52.3 in December.
Diesel consumption still below pre-Covid levels, petrol sales up
January 5, 2021 01:14 IST
A nationwide lockdown to curb the spread of Covid-19 in March and restrictions on the movement of people and goods in subsequent months led to a sharp decline in the consumption of petroleum products across the country.
‘Tariff policies under Trump hit India-US trade relations’Subscriber Only
January 5, 2021 01:08 IST
The bipartisan Congressional Research Service (CRS), in its latest report, pointed out that India’s recent tariff hikes on cell phones and other telecommunication goods went up from zero per cent to 15-20 per cent in the last few years.
FPI buying spree, positive global cues push Sensex past 48,000
January 5, 2021 01:02 IST
The 30-share index soared 308 points, or 0.64 per cent, to close at 48,176.80 and the Nifty50 gained 114 points, or 0.82 per cent, to 14,132.90 on buying support by foreign investors.
‘Manufacturing PMI expands for 5th straight month in Dec’
January 5, 2021 00:58 IST
The seasonally adjusted IHS Markit Manufacturing PMI was at 56.4 in December, a tick higher than November’s reading of 56.3 and above the critical 50.0 threshold for the fifth straight month.
India’s manufacturing sector activity strengthens in December: PMI
January 4, 2021 11:40 IST
The seasonally adjusted IHS Markit India Manufacturing Purchasing Managers' Index (PMI) was at 56.4 in December, a tick higher than November's reading of 56.3 and above the critical 50 threshold for the fifth straight month.
Ajay Bhushan Pandey: ‘Earlier, people could exploit information asymmetry for evasion, now it’s not possible’Subscriber Only
January 4, 2021 03:04 IST
Declaring different turnover in Customs, in GST, and in income tax is now not possible, which is sending a right signal, Pandey said.
Govt puts BEML on the block
January 4, 2021 03:00 IST
At current market prices, the 26 per cent stake in BEML is worth about Rs 1,055 crore. Currently, the Centre holds 54.03 per cent in the CPSE, which was formerly known as Bharat Earth Movers.
GST officials detect over Rs 830 crore tax evasion by Delhi-based pan-masala manufacturing unit
January 3, 2021 20:45 IST
The firm was evading the payment of Goods and Services Tax (GST) by manufacturing and clandestinely supplying gutkha/pan masala/tobacco products without any registration and payment of duty, an official statement said.
Government crackdown on 7,000 GST evaders, 185 arrested
January 3, 2021 20:27 IST
The government netted a record GST collection of Rs 1.15 lakh crore in December 2020, helped by the action against tax evaders alongside pick up in the economy.
Exports shrink for 3rd straight month, trade deficit widens
January 3, 2021 03:09 IST
Exports in December dropped to $26.89 billion from $27.11 billion a year before. Imports rose to $42.60 billion last month from $39.59 billion a year earlier.
Lockdown-led data usage a lifeline for telcos; spectrum sale on DoT radarSubscriber Only
January 3, 2021 07:37 IST
This year, however, the Department of Telecommunications (DoT) will be banking on selling spectrum to raise money, with the hope that telecom companies will evince interest as they need spectrum to expand services.
Exports fall 0.8% in December, trade deficit widens to $15.71 billion
January 2, 2021 12:37 IST
Sectors which recorded negative growth are silver, newsprint, transport equipment, cotton raw and waste, coal, coke and briquettes. Positive growth was seen in pulses, gold, vegetable oil, electronic goods, chemicals, etc.
Pent-up demand, festive season keep PV sales in fast lane in Dec
January 2, 2021 06:26 IST
In aggregate, the six manufacturers — MSIL, Hyundai, Tata Motors, M&M, Honda Cars and TKM— sold 2,44,006 units in December 2020 in the domestic market, as against 2,04,169 units in December 2019.
‘RoDTEP benefits subject to conditions’
January 2, 2021 06:22 IST
The government on Thursday said it has decided to extend the benefit of the Remission of Duties and Taxes on Exported Products (RoDTEP) scheme to all goods, with effect from Friday.
Himachal Pradesh: Revenue gap narrows to 7% as Dec records 25% growthSubscriber Only
January 2, 2021 11:57 IST
The total revenue receipts of the excise and taxation department amounted to Rs 772 crore this past December, which was 25 per cent higher as compared to December 2019, it said.
GST collections at all-time high of over Rs 1.15 lakh crore in December
January 1, 2021 14:19 IST
The gross GST revenue collected in the month of December 2020 is Rs 1,15,174 crore and is the highest since the introduction of Goods and Services Tax from July 1, 2017, the Finance Ministry said in a statement.
Budget to set course for economic pick up after COVID-19 carnage
January 1, 2021 13:36 IST
The Budget for the next fiscal starting April 2021 that Finance Minister Nirmala Sitharaman will present a month from now will be the starting point for picking up the pieces after the economic destruction.
Govt extends benefits of tax refund scheme to all export goods from today
January 1, 2021 04:34 IST
The rates under this scheme, which are expected to be notified “shortly”, will be applicable from this date to all eligible exports of goods “irrespective of the date of notification”, stated the Ministry of Finance in a release about the development on Thursday.
Covid shocked economy, now vaccine, demand push to guide bounce backSubscriber Only
January 1, 2021 09:27 IST
With a month left to go for the Budget for 2020-21, economists are of the view that higher government expenditure would be crucial to propel the growth momentum.
EPFO starts crediting 8.5% interest rate for 2019-20Subscriber Only
January 1, 2021 04:02 IST
The Indian Express had reported Wednesday that the Finance Ministry had granted clearance for the interest rate recommendation of 8.5 per cent.
Eight core industries’ output contracts 2.6% in November
December 31, 2020 19:08 IST
The production of eight core sectors had recorded a growth of 0.7 per cent in November 2019, data released by the commerce and industry ministry showed on Thursday.
EPFO starts crediting 8.5% interest for 2019-20, to reflect in EPF accounts from January 1
December 31, 2020 20:00 IST
A large number of members of the Employees Provident Fund Organisation (EPFO) would be able to see their updated EPF accounts with credit of 8.5 per cent rate of interest for 2019-20, news agency PTI said quoting a senior official.
Q2: Current account surplus moderates to $15.5 bnSubscriber Only
December 31, 2020 05:14 IST
The narrowing of the current account surplus in Q2 of FY21 was on account of a rise in the merchandise trade deficit to $14.8 billion from $10.8 billion in the preceding quarter, the Reserve Bank of India (RBI) said.
From industrial projects to interest subvention for ethanol distilleries: Here are key Cabinet announcements
December 30, 2020 18:19 IST
The government has approved an interest subvention scheme of Rs 4,573 crore for production of grain-based ethanol in the country. Apart from this, it also approved three industrial projects worth Rs 7,725 crore under the National Industrial Corridor Programme.
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