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Rs 1.27 trn I-T refunds made to individuals, businesses: Finance secretary

The income tax department now has a fully automated system of refunds payment directly going into the bank accounts of the taxpayers without manual intervention

Discussion on report over, FinCom set to present it to President on Nov 9

The report will be tabled in Parliament by the union finance minister along with an action taken report of the government

Hope of recovery as core sector fall narrows to 0.8% in Sept vs 7.3% in Aug

Coal, electricity and steel, which constitute over half of the core sector index, showed a rise in production in September

People opting for lower tax regime not eligible for LTC stimulus: Govt

LTC incentive expanded to employees of the private sector, the public sector units and state governments.

UK firms say India has become easier for business, want solution to tax row

Annual report on UK companies says retrospective amendment to India's Income Tax Act is a dampener.

Most agencies underestimating India's growth in FY22: Sanjeev Sanyal

The RBI also projected the economy to grow 20.6 per cent in the first quarter of the next fiscal year.

FinMin rules out Covid-19 vaccination cess, but not averse to charging rich

There was speculation that a one-time special Covid-19 cess would be imposed and that it would raise an estimated Rs 18,000 crore

Jump in returns filing may take GST mop-up to Rs 1 trillion this month

Experts say this may sustain for the next three months

What ails Indian manufacturing? Industry captains speak their minds

The manufacturing sector has been languishing long before coronavirus, despite the intended push from Make-in-India; Business Standard attempts to find out why

Taxpayers can make payments under 'Vivad se Vishwas' scheme till March 31

Finance secretary A B Pandey reviewed the progress under the scheme at a high-level meeting of senior officers through video conferencing

Composition taxpayers can now file 'nil' GST statement through SMS

While they needn't log on to the GST portal for filing nil returns, the facility on GST portal will remain available to taxpayers

Finance ministry rejects railways' request to bear pension expenses

Reminds national transporter of its autonomy; asks it to rationalise freight

Centre borrows Rs 6,000 cr to compensate GST to 18 domains in first tranche

16 states, two UTs among beneficiaries; money raised at 5.19% interest rate; Centre to transfer Rs 6,000 crore to states on a weekly basis through this window

Why Bihar's economic growth is picking up despite absence of big industries

Even as national GDP growth declined to 6.1% in 2018-19 and to 4.2% the next year, Bihar's GSDP growth rose to 9.3% and 10.5%, respectively

CCEA gives in-principle nod to demerger, strategic disinvestment of NSP

After the demerger, NSP will become a separate company and the managements of NMDC and NSP will be accountable for their respective operations and financial performance

Expensive vegetables, high metal prices push WPI inflation to 1.32%

Together with CPI, it may restrain RBI from taking any further monetary easing measures

Covid-19 impact: India's GDP may contract 10.3% in FY21, says IMF

IMF now expected the world economy to fall less severely by 4.4 per cent than 5.2 per cent it projected earlier for 2020

India scores zero on bribery of foreign officials: Transparency Int'l

Country fails to open account in four years till 2017 on five metrics, bribery of foreign public officials not criminalised at all despite India being bound by UNCAC rules

Small fiscal stimulus in the second package amid festival seasons

Adds little to earlier Rs 20 trillion package, fiscal cost is modest against Rs two trillion in earlier one; PSE policy announced earlier yet to be detailed, farm bills enacted

Food prices push retail inflation to 8-month high of 7.34% in Sept

Inflation above RBI's comfort zone of 6% for six straight months, Q2 inflation slightly higher than MPC's projection, MPC may refrain from cutting rate in December policy too