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ECONOMY NEWS - Page 109
Finance Ministry gives nod for 8.5% EPF interest rate
December 30, 2020 10:15 IST
The retirement fund body is looking at crediting the interest rate in one go of 8.5 per cent instead of a split of 8.15 per cent and 0.35 per cent proposed earlier, a senior official said.
India’s economy could prove to be ‘most resilient’ in subregion over long term: UN
December 29, 2020 12:20 IST
Estimates suggest that by 2025, core digital sectors such as IT and business process management, digital communication services, and electronics manufacturing could double in size.
Paying 1% GST in cash: ‘No impact on small businesses’
December 28, 2020 06:08 IST
The new rule restricts the use of input tax credit (ITC) for discharging GST liability to 99 per cent, effective January 1, 2021. It would apply only to risky or suspicious dealers who use a lot of fake credit and make no cash tax payment, they said.
3.97 cr ITRs filed for FY20 till Dec 24
December 26, 2020 06:08 IST
The deadline to file I-T returns by individual taxpayers for the 2019-20 fiscal (AY 2020-21) ends on December 31, 2020, while the same for taxpayers whose accounts require to be audited is January 31, 2021.
Manufacturing cos see recovery with softer Q2 sales contraction
December 26, 2020 06:04 IST
The recovery was led by iron and steel, food products, cement, automobile and pharmaceuticals companies, showed the data on the performance of the private corporate sector during the second quarter of 2020-21.
Manufacturing firms log ‘softer contraction’ in sales at 4.3% in Q2 FY21: RBI data
December 25, 2020 15:29 IST
The data has been drawn from abridged quarterly financial results of 2,637 listed non-government non-financial (NGNF) companies, the RBI said.
Growth to break into positive territory in Q3, says RBI study
December 25, 2020 09:29 IST
An update of the economic activity index (EAI) in RBI’s nowcasting assessment exercise further shows that in the first half of 2021-22, the economy will clock a growth rate of 14.2 per cent on top of the 0.4 per cent growth rate in the second half of 2020-21.
Indian economy recovering fast, growth to turn positive in Q3: RBI article
December 24, 2020 16:06 IST
Impacted by the coronavirus pandemic, the Indian economy dipped by a historic 23.9 per cent in the first quarter of the current financial year. The contraction narrowed down to 7.5 per cent in the second quarter.
FinMin gets suggestions on reforms, spending push and disinvestment
December 24, 2020 03:00 IST
Sitharaman’s last meeting was with a second group of economists; the first one with economists was held on Saturday.
NCAER revises FY21 projection to -7.3% on ‘sharp recovery in Q2’
December 22, 2020 03:00 IST
The gross domestic product (GDP) had contracted by 23.9 per cent in the first quarter of the current fiscal, in the aftermath of the coronavirus pandemic. The contraction narrowed to 7.5 per cent in the second quarter.
A forgettable 2020: How Covid lockdown crippled Indian economy
December 21, 2020 16:59 IST
As 2020 draws to a close, here is a recap of how the Indian economy fared in a year upended by the coronavirus pandemic.
Implementation of CARO order deferred by one year: MCA
December 21, 2020 05:59 IST
arlier, CARO 2020 was to come into force from financial year starting on or after April 1, 2020.
Higher govt spending may boost economy, but challenges remain
December 21, 2020 05:53 IST
Consumption will stay subdued due to slower hiring, the stunted increase in incomes and the fear of job losses; private consumption as in any way flagging even before the pandemic.
New labour laws at root of unrest in Wistron, Toyota: SiddaramaiahSubscriber Only
December 21, 2020 05:35 IST
In a letter to Chief Minister BS Yediyurappa, Congress leader and former Chief Minister Siddaramaiah has said the newly introduced labour laws are at the root of the workers’ unrest in firms like Wistron and TKM.
ONGC starts output at West Bengal’s Asokenagar-1 reserve
December 21, 2020 05:25 IST
Production from the petroleum reserve, located 47 km from Kolkata, has started with the extracted oil being supplied to Indian Oil Corporation’s Haldia refinery, according to the minister.
‘Doing passenger studies to understand requirements of travellers from north India’: Daniel BircherSubscriber Only
December 21, 2020 05:16 IST
DANIEL BIRCHER, CEO of Zurich Airport International Asia and CMD of Yamuna International Airport Pvt Ltd told The Indian Express in an interview that the company was conducting passenger profile studies to identify the needs of travellers from a north Indian background.
IT Min restarts talks on use of AI for welfare schemes, trial run plannedSubscriber Only
December 21, 2020 05:07 IST
For now, the ministry may use AI on a trial basis on some of the welfare and scholarship programmes that it oversees, the officials said. A national implementation plan for AI will be released after that.
PM Modi urges private sector to step up investment in R&D across sectors
December 20, 2020 01:01 IST
The funds by the private sector should also be kept aside for newer sectors such as agriculture, defence, space, energy, and construction, the Prime Minister said.
RBI Governor Shaktikanta Das: Recovery not steady and continuous yet
December 19, 2020 02:45 IST
Members of the RBI’s Monetary Policy Committee raised concerns on the status of some of the sub-sectors and aspects of the economy while stating that it might take at least a year to reach the earlier peak GDP level and more to recover lost growth.
FM Sitharaman lists out healthcare, infra, livelihood as key focus areas
December 19, 2020 09:12 IST
The Finance Minister said investment in health and infrastructure is going to be absolutely critical, while livelihood challenges would have to be seen in a newer canvas.
From telecom spectrum auction to sugar export subsidy: Here are key Cabinet announcements
December 16, 2020 17:46 IST
Telecom Spectrum Auction: Spectrum in 700 MHz, 800 MHz, 900 MHz, 1800 MHz, 2100 MHz, 2300 MHz and 2500 MHz frequency bands would be auctioned for a validity period of 20 years.
S&P raises FY21 growth forecast to 7.7% contraction
December 16, 2020 03:32 IST
For FY22, S&P projected growth to rebound to 10 per cent. Its revision in growth forecast for the current fiscal reflects a faster-than-expected recovery in the September quarter.
FSDC Meeting: Recovery to be faster than predicted; focus on support for financial sector
December 16, 2020 03:29 IST
Budget proposals submitted by the Reserve Bank of India and other regulators were discussed at the meeting.
FDI into India continuously growing: Commerce Minister Goyal
December 15, 2020 14:48 IST
The minister said that 100 per cent FDI is allowed through automatic route in almost all sectors.
Facebook’s Mark Zuckerberg and RIL’s Mukesh Ambani talk WhatsApp, JioMartSubscriber Only
December 15, 2020 15:48 IST
Facebook-Reliance Jio partnership: Ambani also talked about the Jio-Facebook partnership stressing on WhatsApp in particular and the role it would play with the company’s ‘Jio Mart’ service. Both Jio and WhatsApp have a base of over 400 million customers in India.
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