Page 26 - Indivjal Dhasmana/ Pti

MPC retains inflation forecast for FY23 but highlights external uncertainty

The projections of inflation for FY23 are based on the assumption of an average crude oil price of $105 per barrel and a normal monsoon

Lack of clarity on GST paid on liquidated damages may lead to litigation

There is fear that entities may be asked to reverse ITC or pay back refunds, experts say

Rs 94,800-cr gains from windfall tax an overestimation: Govt sources

At July 1 rates, revenue gains would be less than Rs 48,000 crore if impact on corporation tax is taken into account

Windfall tax: Frequent changes create uncertainty for Indian oil producers

Experts say move is justified but government should clarify how proceeds will be utilised

Amid robust tax growth, customs and excise duties decline over 10% in Q1

Receipts from customs and excise duties were down 10.59 per cent at Rs 97,695 crore in Q1 of FY'23

Aiming for cooperative federalism, govt created Centre-states mistrust

There is no love lost between the Centre and the states, particularly those ruled by the Opposition parties on various issues

Falling commodity prices may soften inflation, but it may remain elevated

Parliament likely to discuss the matter today; MPC to consider matter at 3-day meet that begins on Wednesday

Taxpayers fear notices due to AIS discrepancies; CBDT says unfounded

The deadline for filing income-tax returns (ITRs) for the assessment year 2022-23 ended on Sunday

Exports to take severe beating if recession hits US, Europe: Experts

Domestic demand may have to cushion the external impact

Experts expect some inflation, CAD relief after US Fed hikes rates

MPC will be guided more by domestic inflation-growth dynamics than US central bank measures, they say

Amid 'extraordinary' uncertainty, IMF doesn't rule out global recession

IMF warns that risk is particularly prominent in 2023, and even small shocks could cause economies to stall

RBI MPC preview: Das and Co may hike repo rate by 25-50 bps in August

If the inflation remains above 6% on average for the next three months, the RBI will have to explain to the govt in writing the reasons for its failure to keep the rate of price rise in check

Kerala FM blames Centre for cutting resources by Rs 23,000 crore

Kerala Finance Minister K N Balagopal has written to Nirmala Sitharaman asking her not to include borrowings of state entities while fixing their debt limits

MPC likely to raise repo rate significantly in upcoming meetings: S&P

Says there is significant slack in the economy, as GDP is far below estimates of pre-Covid trajectory of potential output

SC dismisses plea seeking GST exemption for Haj via private tour operators

The private tour operators argued that the levy is discriminatory as it exempts certain pilgrims who undertake the journey through the Haj Committee of India

Providing 300 units of free electricity may cost Gujarat Rs 8,700 cr a year

To make AAP's promise work, state would require to increase revenues and cut revenue expenditure under other heads

Despite fiscal steps, wheat, pulses and LPG see high inflation in July

The government announced a number of fiscal steps after overall inflation refused to come below six per cent since January this year.

Centre reins in its debt at 56% for FY22 against 60% pegged in Budget

Committed to fiscal deficit targets for FY23: Economic Affairs Secretary Ajay Seth

Will inclusion in labour code work or do gig workers need a special law?

7.7 million people employed in the sector need welfare measures hardcoded into the law, say some experts

Wait for labour codes continues, even as most states publish draft rules

12 states, UTs have so far not published draft rules on at least 1 labour code