Page 1243 - Economy & Policy News
Book-keeping to actuarial: Govt may ban non-audit services to audit clients
Move will improve corporate governance, address conflict of interest concerns
 "Book-keeping to actuarial: Govt may ban non-audit services to audit clients")
23 states lower VAT rates on petrol, diesel after Centre's excise duty cut
According to an official statement, states that reduced fuel prices the most were Karnataka, followed by Puducherry and Mizoram
 "23 states lower VAT rates on petrol, diesel after Centre's excise duty cut")
DoT fixes Dec 2022 deadline for transition to new IP addresses
The Department of Telecom has fixed December 2022 as the deadline for internet service providers to customise their network as well as change modem and routers at customer premise
 "DoT fixes Dec 2022 deadline for transition to new IP addresses")
CBIC asks GST officers to block ITC on the basis of evidence, not suspicion
The CBIC has come out with guidelines on blocking of tax credit by GST field officers, saying that such blocking should be on the basis of 'material evidence.'
 "CBIC asks GST officers to block ITC on the basis of evidence, not suspicion")
Rupee, bond may stay calm as Fed's $15-bn taper on expected lines
The US Federal Reserve said it would start its tapering later this month
 "Rupee, bond may stay calm as Fed's $15-bn taper on expected lines")
Retail edible oil prices drop by Rs 5-20/kg in major markets: Food Secy
Edible oil prices in the major retail markets across the country have declined, the official said
 "Retail edible oil prices drop by Rs 5-20/kg in major markets: Food Secy")
No plan to extend free ration scheme beyond November 30, says govt
The Centre has no proposal to extend distribution of free ration via the Pradhan Mantri Garib Kalyan Yojana (PMGKAY) beyond November 30 in view of recovery in the economy
 "No plan to extend free ration scheme beyond November 30, says govt")
India to use revenue surge to fund welfare programmes, says report
Govt will not utilise a big bump in revenue collection to beat its fiscal deficit target or lower borrowing, say govt sources
 "India to use revenue surge to fund welfare programmes, says report")
Growth measurement crucial for kids at anganwadi centres: Centre
The Centre asked states and Union territories that growth measurement is essential for all children at anganwadi centre
 "Growth measurement crucial for kids at anganwadi centres: Centre")
FinMin invites suggestions on taxation from industry and trade bodies
The Finance Ministry has asked for suggestions on taxation from industries and trade bodies for Budget 2022-23, which is going to set the tone for growth of India's economy hit by the COVID pandemic
 "FinMin invites suggestions on taxation from industry and trade bodies")
India's foreign exchange reserves increase $1.9 bn to $642 bn: RBI
The forex reserves increased on a healthy increase in the currency assets and value of gold
 "India's foreign exchange reserves increase $1.9 bn to $642 bn: RBI")
Alang's recycling yard turns wary of future amid spike in cruise vessels
Alang sees more cruise ships dock in the past one year than the previous decade but vies for more cargo, defence ships
 "Alang's recycling yard turns wary of future amid spike in cruise vessels")
Joblessness top concern of urban Indians in October 2021: Survey
Joblessness is the top concern of Urban Indians in October 2021 while global citizens are more worried about poverty and social inequality, Ipsos What Worries the World global monthly survey has said
 "Joblessness top concern of urban Indians in October 2021: Survey")
Petrol price further cut by Rs 8, diesel by Rs 9 in BJP-ruled states
Petrol price has been further reduced by as much as Rs 8.7 per litre and diesel by Rs 9.52 in BJP ruled states and UTs - from Ladakh to Puducherry
 "Petrol price further cut by Rs 8, diesel by Rs 9 in BJP-ruled states")
Kerala govt firm on decision not to reduce fuel tax despite criticism
Kerala government on Friday reaffirmed its stand that it could not forego the taxes on fuel due to the grim financial situation
 "Kerala govt firm on decision not to reduce fuel tax despite criticism")
IT dept detects Rs 200-cr black income after raids on dry fruits traders
The Income Tax Department has detected unaccounted income of over Rs 200 crore after it recently raided people engaged in dry fruits trade located in Jammu and Kashmir and Punjab, CBDT said
 "IT dept detects Rs 200-cr black income after raids on dry fruits traders")
Rajasthan asks Chhattisgarh for coal blocks development for energy security
The Congress-led Rajasthan government has asked Chhattisgarh to fast-track the development of its two coal blocks in the state to help aid electricity production and ward off any blackouts.
 "Rajasthan asks Chhattisgarh for coal blocks development for energy security")
From PPP to organisational changes, a tight rope walk for Ashwini Vaishnaw
Electrification of 68,155 route kilometre (RKM) broad-gauge railway routes by December 2023 is nearing completion
 "From PPP to organisational changes, a tight rope walk for Ashwini Vaishnaw")
Govt looks to net $30 billion in fresh funds through PLI scheme
The government itself is expecting investments of Rs 40,000 crore in speciality steel through the PLI scheme for which it has earmarked an outlay of Rs 6322 crore as incentives
 "Govt looks to net $30 billion in fresh funds through PLI scheme")
Road freight rates to cool off 10-12% following diesel price cut: IFTRT
The expected fall in truck rentals will be the first in five months
 "Road freight rates to cool off 10-12% following diesel price cut: IFTRT")