Page 1156 - Economy & Policy News
Income Tax refunds of Rs 1.62 trillion issued so far this fiscal
The Central Board of Direct Taxes has issued Rs 1.62 lakh crore income tax refunds to over 1.79 crore taxpayers till January 24, 2022 of the current financial year, official data showed on Thursday.
 "Income Tax refunds of Rs 1.62 trillion issued so far this fiscal")
Govt to unveil green hydrogen policy in next 10 days, says R K Singh
Raising the issue of payment for power supply, he said free power supply ultimately affects the entire value chain.
 "Govt to unveil green hydrogen policy in next 10 days, says R K Singh")
India, central Asian countries pitch for boosting trade, connectivity
Leaders of five central Asian countries welcomed India's proposal to establish a joint working group to boost connectivity to the region through the Chabahar port in Iran
 "India, central Asian countries pitch for boosting trade, connectivity")
AARs give divergent rulings on notice pay recovery by employers
No GST on such collections in Maharashtra, regarded as service in MP and taxed, money received from employees for medical insurance to non-dependent parents to draw GST too
 "AARs give divergent rulings on notice pay recovery by employers")
Textile sector pitches for removing import duty on all varieties of cotton
The Centre estimates cotton production in 2021-22 at 36.25 million bales, while traders said it was around 33-34 million bales
 "Textile sector pitches for removing import duty on all varieties of cotton")
India dials oil producers to raise output as Brent tops $90 a barrel
The high prices mean pressure on OMCs to raise domestic auto fuel prices, a move that has been kept in abeyance in light of looming assembly elections in five states
 "India dials oil producers to raise output as Brent tops $90 a barrel")
People may be free to set up standalone energy storage systems: R K Singh
The policy aims at the creation of the technology-agnostic storage system across the value chain of the electricity sector generation, transmission and distribution levels
 "People may be free to set up standalone energy storage systems: R K Singh")
Bharat is affluent, educated and digitally savvy: Sharechat Report
The finding shows 29% of Bharat users post content daily at least once as compared to 22% of India users; 39% of Bharat uses social media as primary news source
 "Bharat is affluent, educated and digitally savvy: Sharechat Report")
 "India's top steelmakers seek federal funds to cut carbon emissions")
India's renewable energy sector can employ 1 mn people by 2030: Study
Renewable energy sector has the potential to employ around one million people by 2030, and most of the new jobs would be generated by small-scale renewable energy projects, according to a study.
 "India's renewable energy sector can employ 1 mn people by 2030: Study")
India-South Africa trade exceeds $10 billion target set by leaders
This was despite the restrictions posed by the Covid pandemic in both countries: Consul General Anju Ranjan
 "India-South Africa trade exceeds $10 billion target set by leaders")
India on growth path with innovation, digitalisation: Vedanta's Agarwal
The whole world wants to visit India and there is a potential to increase tourism by 10 times, since the country has 10,000 years of rich history, he said
 "India on growth path with innovation, digitalisation: Vedanta's Agarwal")
Bring natural gas under GST for PM's vision of gas-based economy: Industry
Natural gas is currently outside the ambit of GST, and existing legacy taxes
 "Bring natural gas under GST for PM's vision of gas-based economy: Industry")
Lead start-up, innovation movement: Assam CM Himanta to Gauhati
Assam CM Himanta Biswa Sarma urged Gauhati University to lead a start-up and innovation movement in the state and assured the institute that it will get all support from the government.
 "Lead start-up, innovation movement: Assam CM Himanta to Gauhati")
GST authorities arrest 27-yr old for issuing bogus Rs 1,000 cr bills
A local court remanded the arrested accused to judicial custody for 14 days
 "GST authorities arrest 27-yr old for issuing bogus Rs 1,000 cr bills")
Coal Ministry CPSEs clock 28.33% growth in capex at Rs 12,605.75 cr
The Ministry of Coal, through its Central Public Sector Enterprises (CPSEs), had registered a capex achievement of Rs 9,822.28 crore for the period up to December, 2020
 "Coal Ministry CPSEs clock 28.33% growth in capex at Rs 12,605.75 cr")
Economic Surveys way off mark in projecting outlook in recent years
Many of their ideas, such as DBT, diesel deregulation, bad bank, flexible inflation targeting have been launched, some of them partially; others such as UBI, printing more money haven't taken off
 "Economic Surveys way off mark in projecting outlook in recent years")
Interest on non-payment of GST may be recovered without notice
But with court backing, the authorities are considering doing it in some cases of mismatch in the invoices
 "Interest on non-payment of GST may be recovered without notice")
GIFT City draws big players with biz sops; banks, PEs register with IFSCA
Twenty foreign and Indian banks are now part of the IFSC ecosystem
 "GIFT City draws big players with biz sops; banks, PEs register with IFSCA")
BS Number Wise: A measure of the economy: companies and capex
When demand is uncertain, the biggest private enterprises seem better able to build factories, expand resources and create jobs
 "BS Number Wise: A measure of the economy: companies and capex")