Page 1224 - Economy & Policy News
India received $87 billion in remittances in 2021: World Bank
India, the world's largest recipient of remittances, received $87 billion in 2021 with the United States being the biggest source, accounting for over 20% of these funds
 "India received $87 billion in remittances in 2021: World Bank")
Domestic travel surges 27% to 8.9 million in October, shows data
While IndiGo continues to retain the top spot in market share, Go First overtook SpiceJet
 "Domestic travel surges 27% to 8.9 million in October, shows data")
Mustard area jumps by 30% on high prices, shows data
Overall, rabi crops have been sown in around 26.06 million hectares till November 11, which is 21.43 per cent more than the area covered during the same period last year
 "Mustard area jumps by 30% on high prices, shows data")
Indian PC Shipments at 4.5 mn in Q3CY21 in biggest ever single qtr dispatch
It is bigger than the total annual consumer shipments in 2019, a year before the pandemic hit. As a result, many brands also reported their biggest quarter of PC shipments
 "Indian PC Shipments at 4.5 mn in Q3CY21 in biggest ever single qtr dispatch")
Icra ups Q2 GDP growth estimate to 7.9% after jump in govt spending
A jump in government spending in September has led Icra to upgrade its GDP growth estimate for the second quarter of FY2021-22 to 7.9%
 "Icra ups Q2 GDP growth estimate to 7.9% after jump in govt spending")
Only works contract in land deals will attract GST: Telangana AAR
A works contract is essentially a contract of service that may also involve supply of goods in the execution of the agreement
 "Only works contract in land deals will attract GST: Telangana AAR")
Excess money in cash ledger refundable even two yrs after paying GST: CBIC
Decision will ease cash flow of companies as govt lifts time bar. Earlier, assessees could not take refund of this money after two years
 "Excess money in cash ledger refundable even two yrs after paying GST: CBIC")
Retail inflation for farm, rural workers marginally down in October
Retail inflation based on consumer price indices for farm and rural workers eased marginally in October against September 2021
 "Retail inflation for farm, rural workers marginally down in October")
Aviation sector to grow further; traffic nearing pre-Covid level: Officials
The country's civil aviation sector has almost reached the pre-COVID level in terms of traffic and will continue to grow further, officials said on Thursday
 "Aviation sector to grow further; traffic nearing pre-Covid level: Officials")
Robust GST collections likely in November, uncertainty about December
The generation in the first two weeks of November does not augur well for December collections
 "Robust GST collections likely in November, uncertainty about December")
Domestic air passenger volume spikes 70.5% to 89.85 lakh in October
IndiGo in October 2021 flew 48.07 lakh passengers, accounting for 53.5 per cent of the total domestic traffic
 "Domestic air passenger volume spikes 70.5% to 89.85 lakh in October")
DPIIT working on national retail policy: Union Minister Som Parkash
The minister said it is imperative to focus on creating an overarching retail policy for the country
 "DPIIT working on national retail policy: Union Minister Som Parkash")
EAC-PM members say a real rate of growth of 7%-7.5% in FY23 seems likely
Other than an element of the base effect, the contact intensive sectors and construction should recover in 2022-23, say EAC-PM members
 "EAC-PM members say a real rate of growth of 7%-7.5% in FY23 seems likely")
Coal, lignite firms to install 5,560 MW renewable energy capacity
Coal and lignite companies have planned to install additional 5,560 megawatt (MW) of renewable capacity in the country with an investment of over Rs 15,000 crore, the coal ministry on Thursday said.
 "Coal, lignite firms to install 5,560 MW renewable energy capacity")
Our aim is to create ecosystem to make India lead in drug discovery: PM
India has a large pool of scientists and technologists with a potential to take the industry to greater heights, says PM Modi at Global Innovation Summit of the Pharmaceuticals sector
 "Our aim is to create ecosystem to make India lead in drug discovery: PM")
Data shows strong rebound in India-US bilateral trade in 2021: US official
US Consul General Judith Ravin said the growth in economic ties between the two countries has been extraordinary
 "Data shows strong rebound in India-US bilateral trade in 2021: US official")
Relief for consumers as petrol, diesel prices stay unchanged for fortnight
The price of petrol in Delhi, which fell to Rs 103.97 a litre at 6 a.m. on Diwali day on Nov 4 from the previous days' level of Rs 110.04 a litre, remained at the same level on Thursday
 "Relief for consumers as petrol, diesel prices stay unchanged for fortnight")
Big technology platforms like Google no threat to banks, say experts
Google has a customer interface feature and the Unified Payments Interface (UPI) is a feature for mobile to mobile payment
 "Big technology platforms like Google no threat to banks, say experts")
UBS revises India's GDP growth forecast to 9.5% from 8.9% for FY22
The Reserve Bank also forecasts 9.5 per cent GDP growth this fiscal while the average projection ranges from 8.5 to 10 per cent. The government projection is around 10 per cent.
 "UBS revises India's GDP growth forecast to 9.5% from 8.9% for FY22")
e-SHRAM portal: Female registration higher in all states, shows data
Only four states are lower than national avg
 "e-SHRAM portal: Female registration higher in all states, shows data")