Page 1329 - Economy & Policy News

July GST revenue at over Rs 1.16 trn; govt says it marks economic recovery

Revenues for July 2021 are 33 per cent higher than GST collected in the same month last year.

RBI likely to maintain status quo on interest rate amid fears of third wave

The Reserve Bank is likely to maintain status quo on interest rate and watch the developing macroeconomic situation for some more time before taking any decisive action on monetary policy.

India's fuel demand picks up in July, petrol consumption at pre-Covid level

India's fuel demand picked up in July as easing of pandemic-related restrictions accelerated economic activity, helping petrol consumption reach pre-Covid levels

India will always be proponent of international law: S Jaishankar

External Affairs Minister S Jaishankar on Sunday said India looks forward to "working productively" with other members of the UNSC as the country takes over the presidency of the 15-nation UN body.

FPIs pull out net investments worth Rs 11,308 cr from equities in July

Foreign portfolio investors (FPI) pulled out net investments worth Rs 11,308 crore from Indian equities in July.

India's power consumption back to pre-Covid level in July; up nearly 12%

India's power consumption grew nearly 12 per cent in July to 125.51 billion units and returned to pre-pandemic level mainly due to easing of lockdown curbs and delayed monsoon

Businesses can now self-certify GST returns, instead of mandatory CA audit

GST taxpayers with a turnover of over Rs 5 crore can now self-certify their annual return, instead of a mandatory audit certification by chartered accountants, the CBIC has said

Treated, purified sewage water for industrial use to attract 18% GST: AAR

Treated and purified sewage water is classified as 'water' under the GST Act and its supply for industrial use would attract an 18 per cent tax, the Authority for Advance Ruling (AAR) has said

479 infrastructure projects show cost overruns worth Rs 4.4 trillion

As many as 479 infrastructure projects, each worth Rs 150 crore or more, have been hit by cost overruns totalling more than Rs 4.4 trillion, according to a report

Crackdown on erring insolvency professionals, IBBI sets hefty penalties

The Centre has proposed a crackdown on insolvency professionals that develop nexus with companies facing bankruptcy proceedings thereby delaying the resolution process

Noida Airport land handed over to private developer, construction soon

A pact was signed between the Uttar Pradesh government's joint venture company and Swiss developer Zurich International Airport AG's special purpose vehicle on Saturday

Economy's woes began with Nehru's 1947 speech: MP minister on inflation

A BJP minister in Madhya Pradesh on Saturday said the problem of inflation does not arise "in a day or two"

China, India miss UN deadline to update emissions targets: Officials

China and India have missed a United Nations deadline to submit fresh targets for cutting their greenhouse gas emissions, officials said Saturday

Globalisation tripled India GDP but workers have been left out: Economist

Globalisation has tripled India's GDP in a generation but workers in the country have been left out, eminent economist and Nobel laureate Eric Maskin said on Saturday while observing that the problem

About 70% professionals say skill gaps impeding productivity at work: Study

About 70 per cent of employees feel there is a gap between the skills they have and the skills they actually need to best perform their job, according to a study by job site SCIKEY Market Network.

Centre to clear pending GST compensation in instalments: Karnataka CM

Karnataka Chief Minister Basavaraj Bommai has said the Centre has agreed to give last year's pending GST compensation of Rs 11,400 crore at the earliest in instalments.

India formulating standards for services sector for high quality: Goyal

India is formulating standards for the services sector so that the country can have high quality of services to offer, Piyush Goyal said

Lockdown relaxation accelerated June auto sales growth: India Ratings

Relaxation of localised lockdowns in most parts of the country led to the sequential as well as year-on-year increase in domestic auto sales volumes in June 2021

June air travel recovery subdued, demand nowhere near it needs to be: IATA

The IATA has announced passenger demand performance for June showing a very slight improvement in both international and domestic air travel markets.

Back to old normal: Power sheds Covid load on work-from-home support

In the final instalment of a four-part series on how some of the defining numbers in key sectors are springing back to the pre-pandemic level, Shreya Jai looks at India's power sector