Addressing a webinar on budget provisions for the farm sector, he highlighted the various initiatives taken by the government in the Budget for the next fiscal, including increasing the target of agriculture credit to Rs 16.5 lakh crore from Rs 15 lakh crore in the current financial year.
The Nomura India Business Resumption Index (NIBRI) eased to 98.5 for the week ended February 28, down from 99.3 recorded in the previous week as the Google retail and recreation mobility and Apple driving indices moderated, even as the Google workplace mobility improved.
Although the Nikkei Manufacturing Purchasing Managers' Index , compiled by IHS Markit, eased slightly to 57.5 in February from 57.7 in January, it was well above the 50-level separating growth from contraction.
The Economic Coordination Committee of the Khan cabinet will take a final decision on the matter, according to a report in Pakistani daily The Express Tribune. Khan also holds the commerce portfolio.
"In view of the difficulties expressed by the taxpayers in meeting this time limit, government has decided to further extend the due date for furnishing of GSTR-9 and GSTR-9C for the financial year 2019-20 to 31.03.2021 with the approval of Election Commission of India," the Central Board of Indirect Taxes and Customs (CBIC) said Sunday.
CPI inflation consistently remained above the upper band of the target between above April and November caused largely by supply side constraints created by the pandemic induced nation-wide lockdown.
The mobile app for price monitoring for 22 essential commodities has started providing effective real time information about retail and wholesale prices from 127 locations across the country, the statement said.
Citing sources in the Ministry of Commerce, The Express Tribune reported that Adviser to the Prime Minister on Commerce Abdul Razak Dawood may take a decision on whether to import cotton and yarn from India next week.
Global food prices are at the highest in more than six years, driven by a jump in the cost of everything from soybeans to palm oil because of demand from China, vulnerable supply chains and adverse weather.
“We are keen on the IT PLI because the state is well connected and there is availability of skilled labor. It is a huge and aspirational sector for us,” said Nitin B Jawale, Managing Director, Industrial Promotion and Investment Corporation of Odisha, the investment promotion agency of the state.
Job losses and non-availability of casual work were the key reasons for this, and every fifth respondent was forced to go hungry because of no money to buy food, Mukta Srivastava, Maharashtra's convener for the Anna Adhikar Abhiyan, told.
According to Gadkari about 500 employees of the contractor company worked hard for this. "Along with these employees, I congratulate the National Highways Authority project manager, officers, all the representatives of the contractor company and the project officers," Gadkari said.
ities must definitely ban vehicles that cannot pass emission tests, and this has nothing to do with age: many vehicles are serious polluters because of bad maintenance even if relatively new. Indian cities need mandatory vehicular testing every two years, as in the US, by serious institutions.
The central government scheme also partly addresses the “disability gap” that India has against other manufacturing destinations from where goods are imported, say experts who track manufacturing companies.
While the tagline — Aatmanirbharta — is new, the Centre has been quietly following the idea inherent in it since the first Modi government came to power in 2014. Sample this: the customs duties of 4,200 out of 11,524 tariff lines have been enhanced during the past seven years. Of these, 111 — including in textiles, furniture, machinery, base metals, electronics, auto-parts and mobile phones — were increased in the 2019-20 Budget
Pandey, a 1984 batch IAS officer from the Maharashtra cadre, was appointed finance secretary last year in March, more than a year after he was appointed as revenue secretary in December 2018.
To understand the sources of stress and how people are coping with the stress Centre for Marketing in Emerging Economies (CMEE) at IIM Lucknow in Association with Qualisys research and consulting conducted an online survey, with consumers across Metro, Tier I & II towns in India.
On account of the excess liquidity in the system, a similar trend was observed in CD-overnight index swap negative spread, which is showing green shoots in credit demand.
The government has fixed fifty lakh registered users as the threshold for defining 'significant social media intermediary', which will have to adhere to additional obligations and compliance under the new IT rules that seek to crack down on misuse of social media platforms.
Union Finance and Corporate Affairs Minister Nirmala Sitharaman has participated virtually in the First G20 Finance Ministers and Central Bank Governors (FMCBG) meeting under the Italian Presidency to discuss policy actions for transformative and equitable recovery.
A near 16 per cent increase in overall engineering exports during January,2021 over the same month last year was influenced by a sharp rise of 66.66 per cent in shipments of copper/products to USD 138.50 million from USD 83.10 million.
America's national debt was USD5.6 trillion in 2000. During the Obama administration, it actually doubled. In 2020, the US national debt was USD 23.4 trillion, that was USD 72,309 in debt per person.
The very fact that a publisher has control over the content disentitles them to be categorised as ‘intermediary’. To frame rules therefore for OTT, which may not fall within the category of ‘intermediary’ and online news media, which will possibly not fall within this category may therefore be totally unsustainable.
GDP at constant (2011-12) prices in Q3 of 2020-21 is estimated at Rs 36.22 lakh crore, as against Rs 36.08 lakh crore in Q3 of 2019-20.
State governments had 64.41 billion rupees loans from the RBI in the week ended Feb. 19, compared with 109.18 billion rupees in the previous week, the release showed.
On February 1, the government revised its fiscal deficit target for the current year that runs through March to 9.5% of gross domestic product (GDP), instead of its original target of 3.5% of GDP as the coronavirus pandemic lead to lower tax collection and higher spending.
Requests have been received from various stakeholders including Indian Banks' Association for extending the deadline, keeping in view the COVID-19 related disruptions and inconveniences, RBI said in a release.
The NIP was launched with 6,835 projects, but the project pipeline has now been expanded to nearly 7,600 projects and has witnessed accelerated spending on infrastructure projects in ministries especially in second and third quarters of FY21.
This marks a marginal recovery from three consecutive month-on-month contractions for the eight core sectors.
Landlocked Bhutan is almost completely dependent on transit passage over Indian land to touch Bangladesh. As per Bhutan Ministry of Finance statistics, the two countries enjoy an annual bilateral trade worth around INR 400 crore. Though not too big a figure for Bangladesh, according to United Nations Statistical Division, it is nearly 4% of Bhutan's entire foreign trade.
"The current numerical framework for defining price stability, i.e., an inflation target of 4% with a +/-2% tolerance band, is appropriate for the next five years," RBI said.
“On your question on GSP in India, let me just say that if confirmed, this is very high on my radar,” Katherine C Tai said, responding to a question from Senator Maria Cantwell who raised the issue of high retaliatory tariffs imposed by India on several American products after US terminated GSP privileges of India.
The bulk of the newly acquired seed production area is dedicated to the non-cotton sector and mostly towards high-margin hybrid rice, maize and vegetable seeds, and nearly half of the land is located in and around the Telugu states of Andhra Pradesh and Telangana, India’s largest listed producer of hybrid seeds said.
New curbs on movement of people or restrictions on businesses are a risk to the nascent recovery, given that gains in the October-December quarter probably came from the reopening of the economy, which is primarily driven by domestic consumption. The government also boosted spending in the final months of last year to spur growth.
In a discussion on this issue at the ET India Inc Boardroom, R.C. Bhargava, Chairman, Maruti Suzuki India, said the biggest hurdle for manufacturing in India is high costs.
For the country to be a manufacturing hub, there needs to be mass customisation, focus on technologies such as IoT and 3D, and companies need to adhere to compliance standards, concluded panelists at ET India Inc Boardroom.
The directional change that we are talking about is we have gone through those things (socialism and license-quota raj for industries). Now, we are not suspecting you (citizens and wealth creators) that you are always upto something. We trust you and invite you to participate in the development of the country, she said.
The memorandum of understanding (MoU) will facilitate the sharing of data and information between MCA and CBIC on an automatic and regular basis, according to a statement by the Ministry of Corporate Affairs (MCA).
CMIE is of the view that the sustenance of recovery is best achieved when households feel positive of their well-being. “India’s vast consumer markets need to feel like spending beyond their essential requirements for the economy to pick pace beyond the recovery,” it said.
Moody's Investors Service Associate Managing Director (Sovereign Risk) Gene Fang said "our current expectation is that in the current fiscal ending March 2021, the economy would contract 7 per cent... We expect a rebound of 13.7 per cent growth in the next fiscal on normalisation of activity and base effects."
Two of the eight high-frequency indicators tracked by Bloomberg News improved last month, while five held steady and one deteriorated. That, for now, kept the needle on a dial measuring overall economic activity unchanged at 5.
Prices of masur (lentil) and urad have increased by 10% over January, while tur prices have jumped 20% during the same period. Wholesale edible oil prices have increased 30% to 60% for different oils year on year this year.
Dynamic QR code for B2C transactions is meant to encourage digital payments by the buyers but can potentially be used to check tax leakages as well. It would have an impact on all consumer facing businesses including retail, restaurants, hotels and so on. Therefore, industry had sought clarity on several aspects including exemption of dynamic QR code applicability in case of transactions with the customer located outside India.
The council said the lower customs duty and recovering demand may allow official imports to gain strength at the cost of unofficial imports, although the 14.07% duty continues to make the grey market attractive. The new tax structure on gold announced in the Union Budget has reduced the total import duty on a gold bar (including basic customs duty, agriculture infrastructure and development cess, and social welfare surcharge) to 10.75% from 12.875% before the budget.
The development comes just a week after the Cabinet approved the PLI scheme for telecom equipment.
