Page 1177 - Economy & Policy News
UP govt hikes excise revenue target for FY23 to Rs 41,000 crore
New state excise policy aims to weed out liquor cartels
 "UP govt hikes excise revenue target for FY23 to Rs 41,000 crore")
Indian streaming industry expected to grow $13-15 bn over the next decade
The OTT sector is witnessing a rise in investments in Indian original content. This has led to growth in hours of original content available to users
 "Indian streaming industry expected to grow $13-15 bn over the next decade")
Healthcare in India: Miles to go ahead to realise the dream
The Covid pandemic has brought the inadequacies and pitfalls of Indias healthcare system to the light
 "Healthcare in India: Miles to go ahead to realise the dream")
Delhi govt's GST department unearths Rs 347-cr 'fake billing scam'
The Delhi government's GST department on Saturday unearthed a Rs 347-crore 'fake billing scam' involving 11 firms and one person was arrested in connection with it, according to an official statement.
 "Delhi govt's GST department unearths Rs 347-cr 'fake billing scam'")
Increased imports, IT raids fuel GST collection in Dec 2021
Gross GST revenues collected in December 2021 stood at Rs 1,29,780 crore, 13 per cent higher than GST revenues collected in same month of 2020, and 26 per cent higher than GST revenues in Dec 2019.
 "Increased imports, IT raids fuel GST collection in Dec 2021")
2022: Indian economy sets sail with growth hopes even as headwinds remain
After navigating pandemic waves, recovering Indian economy is now sailing through rising coronavirus cases, spiralling commodity prices and spiking inflation though sustainable growth remains visible.
 "2022: Indian economy sets sail with growth hopes even as headwinds remain")
Nearly 58.9 mn ITRs for FY21 filed till Dec 31 deadline
Nearly 5.89 crore income tax returns for the 2020-21 fiscal (ended March 2021) have been filed on the new e-filing portal till December 31 deadline, the I-T department said on Saturday.
 "Nearly 58.9 mn ITRs for FY21 filed till Dec 31 deadline")
GST collection at Rs 1.29 trn in December 2021: FinMin
Though the collection was lower than Rs 1.31 trn mopped up in November, December is the sixth month in a row when revenue from goods sold and services rendered stood at over Rs 1 trn
India's power consumption rises 4.5% to 110.34 billion units in Dec
India's power consumption grew by 4.5 per cent in December to 110.34 billion units (BU) over the same period a year ago, according to power ministry data.
 "India's power consumption rises 4.5% to 110.34 billion units in Dec")
Passengers' Gain: Competition to soar as new players enter aviation sector
Competition is expected to soar in India's aviation sector during 2022, as new players enter the industry along with deeper penetration of air transport in hinterland
 "Passengers' Gain: Competition to soar as new players enter aviation sector")
Food aggregators like Swiggy, Zomato to collect 5% GST beginning Jan 1
Food aggregators like Swiggy and Zomato will have to collect and deposit tax at 5 per cent rate beginning Saturday
 "Food aggregators like Swiggy, Zomato to collect 5% GST beginning Jan 1")
Oil companies slash price of commercial LPG cylinder by Rs 102.50
In some relief for consumers on New Year, National Oil Marketing companies have slashed the prices of 19 kg commercial LPG cylinder cost by Rs 102.50 effective from January 1, 2022.
 "Oil companies slash price of commercial LPG cylinder by Rs 102.50")
India's current account slips into deficit again in September quarter
Wider merchandise trade deficits pulled India's Q2FY22 current account into the negative territory, official data showed on Friday.
 "India's current account slips into deficit again in September quarter")
IT raids on 2 cellphone firms find Rs 1,400-crore understating of profit
Evidence has emerged that the two companies could be under-stating taxable profit by more than Rs 1,400 crore.
 "IT raids on 2 cellphone firms find Rs 1,400-crore understating of profit")
Surge in Covid-19 cases leaves non-life insurers on tenterhooks
In FY21, non-life insurers had settled 849,034 claims amounting to Rs 7,833 crore
 "Surge in Covid-19 cases leaves non-life insurers on tenterhooks")
Third Covid wave jitters: Core sector growth slows to 9-month low in Nov
Centre's fiscal deficit touches 46.2% of annual target till November-end
 "Third Covid wave jitters: Core sector growth slows to 9-month low in Nov")
India Q2Fy22 current account deficit at 1.3% of GDP, likely to widen
Central bank says the deficit is mainly due to widening of trade gap and an increase in net outgo of investment income.
 "India Q2Fy22 current account deficit at 1.3% of GDP, likely to widen")
GST Council defers rate hike in textiles, refers issues to ministers group
'We will retain the status quo', says Finance Minister Nirmala Sitharaman after emergency meeting in Delhi.
 "GST Council defers rate hike in textiles, refers issues to ministers group")
Retail, MSME credit shows steady growth in November: RBI report
Reserve Bank of India in a statement said that retail loans continued to expand at a double digit rate
 "Retail, MSME credit shows steady growth in November: RBI report")
Digital transaction volume grew at 50% in four years, shows data
Around 368,000 candidates have signed up for The FutureSkills PRIME ecosystem that aims to reskill or upskill 412,000 professionals
 "Digital transaction volume grew at 50% in four years, shows data")