Page 42 - Indivjal Dhasmana

GST revenues take a beating as Council tweaks rates far too often

Centre to propose one a year tweaking; states say proposal is not enough, slabs need to be changed, experts call for flexibility to cater to immediate needs

SBI Research ups projections for economy, narrows GDP contraction to 7.4%

Deloitte says recovery depends on vaccine, spread of Covid cases

FSDC deliberated on challenges in transition from Libor-based contracts

In a meeting, chaired by FM Sitharaman, it noted that a multi-pronged strategy involving relevant stakeholder institutions and departments is required in this regard

Exports decline for second month in a row, trade deficit at ten-month high

Exports fell sharper at 8.7% in November from 5.1% in October, as demand remained muted in major overseas markets due to Covid-induced lockdowns

November WPI inflation at nine-month high even as food prices moderate

Onion, which bore the brunt of rising inflation rate in recent months, saw deflation or fall in prices in November at 7.58%

India Inc seeks growth-oriented budget, higher health spend from FM

Says fiscal consolidation be pushed for later years or formulated from three-year perspective

FM Nirmala Sitharaman takes stock of schemes under Atmanirbhar Bharat

Public sector banks have approved purchase of portfolio of Rs 27,794 crore as of December 4, 2020

CEA foresees V-shaped recovery in industrial production going ahead

Makes his prediction on the basis of the number of items in the IIP basket that grew in the month of October

Agricultural reforms will increase farmers' income: PM Modi at FICCI event

PM Modi said farmers will get new markets and agriculture will get fresh investments

Need to revisit Constitutional provisions on federal structure: N K Singh

Singh also called for moving to a fiscal deficit range rather than a specific number to better judge expenditure outcomes of states

States, UT lift 18.68 mn tonnes of foodgrains under free food scheme

The scheme was extended by five months in July

Govt pays MSMEs Rs 21,000-cr dues in seven months over procurements

The highest level of procurement was achieved in October (over Rs 5,100 crore) and payment of over Rs 4,1000 crore was made.

PDS reforms done, 9 states get govt nod to raise Rs 23.5K cr from markets

These states include Andhra Pradesh, Gujarat, Goa, Haryana, Karnataka, Kerala, Telangana, Tripura and Uttar Pradesh.

Centre gives Rs 6,000 crore to 14 states as revenue deficit grant

This is in line with interim recommendations of 15th finance commission; similar amount was released in April-Nov period of current fiscal

Centre releases Rs 6,000 crore of GST compensation to 23 states, three UTs

Remaining five states do not have a gap in revenue on account of GST implementation.

Cabinet approves Rs 22,810 cr EPF subsidy scheme for job creation

The proposal, Atmanirbhar Bharat Rojgar Yojana, announced earlier by SM Sitharman, aims to generate 5-6 million jobs by June next year

With little room left for govt capex, economy looks at private investments

However, low demand in the economy has been arresting fresh investments, and experts tracking India Inc have not seen any major announcement in this zone

One nation, one ration card: 9 states can raise Rs 23,523 cr from markets

These nine states have received permission from Union finance ministry to raise additional funds from the markets as they have implemented the 'one nation, one ration card' reform

Blanket interest waiver to cost Rs 6 trillion, Centre informs Supreme Court

Supreme Court will continue to hear the matter today

Fitch now expects lower GDP contraction in India at 9.4% for FY21

Says Covid vaccines aren't likely to reach majority even in a year, Cautions against weak balance sheets, challenges in financial sector