Top headlines: Govt to seek crypto transactions log; Covid haunts economy

The tax authorities may tell banks crypto exchanges to report on virtual digital assets' transactions as India is starting is to tax gains from crypto

Tax authorities may tell banks crypto exchanges to report on virtual digital assets' transactions as India taxes gains from crypto and NFTs from April 1. Maruti Suzuki India (MSIL) Chairman R C Bhargava said that there is no bar on the company to make electric vehicles. More on those stories in our top headlines.

Centre may seek crypto log on transactions

The tax authorities may tell banks and crypto exchanges to report transactions of virtual digital assets (VDAs) as the government begins taxing gains from cryptocurrencies and non-fungible tokens from April 1. Read more

No bar on Maruti to make electric vehicles: Chairman

Maruti Suzuki India (MSIL) Chairman R C Bhargava made it clear that the announcement by Suzuki Motor Corporation (SMC) on Sunday about investing 150 billion yen (or Rs 10,445 crore) by 2026 for indigenous manufacturing of battery electric vehicles (BEV) and BEV batteries in Gujarat does not restrict the listed MSIL from making electric vehicles (EVs). Read more

Two years after Covid, Indian economy battling crisis
 

When the coronavirus pandemic hit Indian shores in early 2020, the Indian economy was already in a downward spiral, with growth rate slumping to an 11-year low of 3.1 per cent in the March quarter of FY20. The rapidly surging Covid-19 cases forced the government to impose a nationwide lockdown which resulted in India’s first recession in FY21 (at -6.6 per cent) after a gap of 40 years. Read more

Govt sets Rs 1-trillion infrastructure lending target for DFI

The Centre has set a target of about Rs 1 trillion for government-backed National Bank for Financial Infrastructure and Development (NaBFID) for sanctioning loans to the infrastructure sector in the next financial year. Read more

Ukraine crisis: India abstains from vote on Russia's UNSC resolution

India abstained in the UN Security Council on a vote on a draft resolution by Russia on the humanitarian crisis in Ukraine. Permanent and veto-wielding Council member Russia had called for a vote in the 15-nation Security Council on its draft resolution that demands that civilians, including humanitarian personnel and persons in vulnerable situations, including women and children are fully protected. Read more