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‘Big push’ to targeted mega infra projects can reignite economy: Shaktikanta Das

July 28, 2020 3:01:12 am

He suggested a series of reforms in the electricity sector to promote solar energy via accelerated depreciation benefits and fiscal incentives.

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Infrastructure push can re-ignite economic growth: RBI Guv

July 27, 2020 1:26:52 pm

Das said both private and public sectors have to play an important role in developing infrastructure that requires huge investments.

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Two months into MSME credit scheme, 43% of Rs 3 lakh crore sanctioned

July 27, 2020 7:32:16 am

Two months after the launch of the scheme, cumulative loan sanctions have risen to Rs 1.30 lakh crore from Rs 1.10 lakh crore on July 1, with both private and state-owned banks stepping up credit deployment, according to most recent data.

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CERC plans to ease norms for renewable energy projects to get ISTS connectivity

July 26, 2020 12:41:34 am

Depending on whether the entity satisfies certain criteria, the grantee for Stage-II connectivity will be required to complete the dedicated transmission lines and pooling substations on or before the scheduled date of commercial operation of the generation project or six months after the scheduled date of commercial operation.

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Central trade unions seek President intervention in providing relief to workers

July 26, 2020 12:36:37 am

The unions have also asked for creation of a Rs 10,000 crore fund for implementing social security measures.

RBI signs $400 mn currency swap with Sri Lanka

July 26, 2020 12:22:25 am

The Indian High Commission in Colombo said the currency swap arrangement will remain available till November 2022.

Suppressing criticism a sure fire recipe for policy mistakes: Raghuram Rajan

Raghuram Rajan: Govt focussed on ‘majoritarian objectives rather than repairing impaired economy’

July 25, 2020 1:00:34 am

Raghuram Rajan argued that providing resources for relief and repair is going to be very important and what India has done so far in terms of fiscal support is not adequate when compared with many other economies.

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I-T Dept to share taxpayer info with 10 central intelligence, probe agencies

July 25, 2020 12:42:39 am

The furnishing and receiving of information to and from these central agencies with NATGRID will include PAN details, Tax Deduction Account Number (TAN) details, bank account details, return summary, TDS summary (as per MoU) and any other mutually agreed information.

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Income-Tax department to share account data with intel, probe agencies

July 24, 2020 6:33:50 pm

The recent notification will permit the tax department to share information of a taxpayer which might be relevant for the notified enforcement agencies.

India needs further economic reforms to attract more investment, IMF says

July 24, 2020 12:35:16 pm

The remarks by International Monetary Fund's Chief Spokesperson Gerry Rice on Thursday came in response to a question on the recent FDI announcements made by global giants like Facebook and Google in India.

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No direct monetisation plan yet: DEA Secy

July 24, 2020 3:00:00 am

While data from various agencies, including World Bank and IMF suggest GDP contraction this year, the economy is expected to recover sharply next year, indicating a V-shaped recovery, he said.

Suppressing criticism a sure fire recipe for policy mistakes: Raghuram Rajan

No free lunches: Raghuram Rajan says monetisation by RBI has a cost and cannot be everlasting

July 23, 2020 4:42:19 pm

The former RBI Governor said central banks in many emerging markets are resorting to such strategies and disagreed with votaries of the "modern monetary theory" who support this, making it clear that there are no free lunches.

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Cash-rich Mumbai powers mutual funds, other cities see decline

July 23, 2020 4:14:48 am

Experts say that as markets fell amid the pandemic, large investors in Mumbai deployed their funds in sector-oriented and gilt funds, among others.

E-commerce platforms have to display country of origin on imported products: Centre to HC

July 22, 2020 2:54:37 pm

The central government had filed an affidavit which said that according to the Legal Metrology Act and Rules e-commerce sites have to ensure country of origin is displayed on the "digital and electronic network used for e-commerce transactions".

Green shoots visible, interventions can happen in future: Nirmala Sitharaman

July 22, 2020 2:09:32 am

She also said that no sector will be in exclusive control of public sector and PSUs will be present only in pre-determined strategic sectors.

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45 cos add 21 lakh retail investors in June quarter; highest inflows in pharma, FMCG, banking

July 20, 2020 3:00:28 am

While 41 companies in the list of 45 saw an increase in retail investor base, only four witnessed a decline during the quarter.

FM Sitharaman: Consensus-based solution to digital taxation should be simple and inclusive

July 19, 2020 12:21:04 am

India — in amendments to the Finance Act, 2020 in March-end — had expanded the ambit of the equalisation levy for non-resident e-commerce operators involved in supply of services, including online sale of goods and provision of services, with the levy at the rate of 2 per cent.

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India considers plan to store oil in US; inks MoU for cooperation on strategic petroleum reserves

July 18, 2020 1:00:32 am

The two countries signed a memorandum of understanding (MoU) to begin cooperation on operation and maintenance of strategic petroleum reserves, including exchange of information and best practices, a joint statement issued Friday said.

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‘1,377 of 7,516 exporters untraceable, claimed GST refunds worth Rs 1,875 crore’

July 18, 2020 12:32:28 am

The list includes seven star exporters and for 2,830 exporters, IGST refund /drawback worth Rs 1,363 crore is suspended, a Finance Ministry official said.

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Precedent for black money recovery: ITAT orders woman to pay taxes on undeclared deposit in Swiss bank account

July 18, 2020 12:14:16 am

Octogenarian Renu Tikamdas Tharani was found to be the beneficiary of the account that held $3.97 crore during financial year 2005-06 after the tax department began a reassessment proceeding in 2014 for the income tax return filed in 2006, wherein she had declared an income not liable to tax.

PMO continues meetings with FinMin: E-comm policy, status of economic package on the agenda

July 17, 2020 3:15:43 am

Prime Minister Narendra Modi is learnt to have met Finance Minister Nirmala Sitharaman on Thursday, the second meeting this week, to take stock of the economy.

Covid-19 effect on IT firms: Travel bills down, but communication costs increase

July 17, 2020 3:15:05 am

Before Covid-19 struck businesses, travel was the third biggest expenditure head for the IT majors, lagging only behind employee cost and fee to technical sub-contractors/external consultants.

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Piyush Goyal, Wilbur Ross discuss FTA prospects

July 17, 2020 3:08:55 am

Discussions were also held over concerns on the US “denying” India the opportunity to participate in supply contracts of US government agencies with respect to 24 Indian products.

Retail inflation likely to remain at elevated levels in coming months: SBI report

July 16, 2020 4:45:53 pm

SBI's study said the pandemic accelerated the recent global trend of disinflation.

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Exports, imports fall for 4th month in June, but trade turns surplus after a decade

July 16, 2020 3:14:24 am

India’s goods exports declined 12.41 per cent to $21.91 billion in June from $25.01 billion in the same period last year due to a drop in shipments of major commodities like engineering goods and gems and jewellery.

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