Page 1303 - Economy & Policy News

Income tax portal's tech issues being progressively addressed: CBDT

The income tax department on Wednesday said a number of technical issues on the new ITR portal are being progressively addressed and 1.19 crore ITRs for 2020-21 fiscal year have been filed so far.

Sought approval for setting green hydrogen purchase obligation: R K Singh

A proposal for setting targets for purchase of green hydrogen by refineries and fertiliser plants has been sent to the Cabinet for approval, Power and Renewable Energy Minister R K Singh said.

Supreme audit institutions can become partners in evaluating economy: CAG

Supreme audit institutions can become valued partners in objectively evaluating resourcesand effectiveness of public expenditure to provide insight for optimising public finance management

India Inc resorted to salary cuts in Q1, will be drag on economic recovery

India Inc resorted to salary cuts to protect their profits in the June quarter, as revenues came under pressure due to the second pandemic wave that affected nearly the entire country, a report said

India Inc's biz sentiments drawing closer to pre-pandemic level: Survey

India Inc's business sentiments are drawing closer to pre-pandemic levels, hinting at a more robust performance in the next quarter, according to a survey by Grant Thornton Bharat

Jharkhand House nod to bill for 75% quota in private sector jobs for locals

The Jharkhand Assembly on Wednesday passed a bill that provides for 75 per cent reservation to locals in jobs with salaries up to Rs 40,000 a month in the private sector amid uproarious scenes.

Huge spike in EPF payrolls throws up debate on formalisation of the economy

While 2020-21 may not be the right year to compare with due to Covid, net payroll data in each of April, May and June exceeded average monthly figure since the data began to be compiled for Sept 2017

Cabinet approves increase in MSP for all mandated Rabi crops for 2022-23

Oilseeds and pulses get higher MSP raise; MSP for wheat upped by 2%; barley 2.2%, gram 2.5%

Cabinet approves Rs 10,683-cr PLI scheme for textiles: Goyal

The cabinet has approved the PLI scheme for textiles for MMF (man-made fibre) apparel, MMF fabrics and ten segments/products of technical textiles

Govt hikes wheat MSP by Rs 40 to Rs 2,015 per quintal for 2021-22 crop year

The government on Wednesday hiked the minimum support price for wheat by Rs 40 to Rs 2,015 per quintal and for mustard seed by Rs 400 to Rs 5,050 per quintal for the current crop year.

Cost-benefit of deferred cane outgo and end to area reservation

While Gujarat is the only state to have gone ahead with staggered payments, the issue of area reservation has been resisted by most states, Maharashtra being an exception

Centre-states may discuss early inclusion of natural gas into GST fold

The Centre is likely to initiate dialogue with states for inclusion of petroleum products under the new indirect tax fold.

India's fintech market to triple to Rs 6.2 trn by 2025: MoS Finance Karad

The govt's various initiatives have led to fast growth in the fintech sector, which is likely to triple to Rs 6,20,700 crore in value terms by 2025, Minister of State for Finance Bhagwat K Karad said

Tax portal 2.0 to integrate with bourses to track trade transactions

Will take stock of discrepancies in assessee disclosures in ITR

Cabinet may discuss a relief package for stressed telecom sector today

The government effort in preparing a telecom package is to ensure that the telecom sector does not become a duopoly

Govt likely to give more sops to units in special economic zones

With this incentive, manufacturers in SEZs that have spare capacity will be able to boost production

Piyush Goyal appointed as India's Sherpa for G20 meet

Goyal who is the union minister of consumer affairs, food and public distribution and textiles, replaced former union minister Suresh Prabhu as the sherpa for the meet

China Plus One sees India's textile sector stitching a revival

Industry players also indicate that following the China Plus One strategy, there is at least a 20 per cent shift of exports from that country to India

Shikshak Parv: PM Narendra Modi launches key education initiatives

Says these measures will make the youth future-ready

Drone use, satellite imagery for agriculture insurance may be a must

Govt, Irdai considering using artificial intelligence to control fraud claims, cut delays in settlement