Page 1356 - Economy & Policy News
India-Russia ties among steadiest of relationships in the world: Jaishankar
External Affairs Minister S Jaishankar on Thursday said that the bilateral ties between India and Russia have been among the "steadiest" of the major relationships in the world after the WW 2
 "India-Russia ties among steadiest of relationships in the world: Jaishankar")
Man for all reasons: Ashwini Vaishnaw, minister of Railways, Comms & IT
From trusted bureaucrat, to Wharton, MNC executive to businessman, and now politician, the man in charge of two weighty ministries is a unique all-rounder with specialist knowledge
 "Man for all reasons: Ashwini Vaishnaw, minister of Railways, Comms & IT")
LIC to have CEO, MD as govt does away with Chairman post ahead of IPO
To facilitate the listing of the insurance behemoth, the government has already approved raising its authorised share capital to Rs 25,000 cr\
 "LIC to have CEO, MD as govt does away with Chairman post ahead of IPO")
MFIs, smaller NBFCs collections drop to 65-85% in Q1 FY22: Acuite Ratings
The collection efficiencies of its rated microfinance institutions (MFIs) and smaller non-banking finance companies (NBFCs) have dropped to 65-85 per cent during the first quarter of fiscal 2022.
 "MFIs, smaller NBFCs collections drop to 65-85% in Q1 FY22: Acuite Ratings")
India's power demand surges to all-time high; crosses 200 GW mark
Many states have been witnessing high temperatures due to delayed monsoon
 "India's power demand surges to all-time high; crosses 200 GW mark")
Ministry of Finance releases Rs 9,871 crore grant to 17 states
With the release of this installment, a total amount of Rs 39,484 crore has been released to eligible states in current financial year.
 "Ministry of Finance releases Rs 9,871 crore grant to 17 states")
Cabinet expansion cannot cover up govt's wrong policies: Mayawati
In a major overhaul, Prime Minister Narendra Modi inducted several new members in his cabinet and dropped 12 ministers
 "Cabinet expansion cannot cover up govt's wrong policies: Mayawati")
I-T assessments hit as e-filing portal's communication with back-end broken
A host of activities have been stalled on the upgraded e-filing portal; banks seek undertaking from customers for overseas payment
 "I-T assessments hit as e-filing portal's communication with back-end broken")
Hiring activity bounces back with 15% rise in June, finds report
The activity was led by the IT-Software/Software Services sector.
 "Hiring activity bounces back with 15% rise in June, finds report")
I-T dept issues Rs 37,050 cr refunds to 1.7 mn taxpayers from Apr 1-Jul 5
Of this, personal income tax refund stood at Rs 10,408 crore, while that of corporates was Rs 26,642 crore
 "I-T dept issues Rs 37,050 cr refunds to 1.7 mn taxpayers from Apr 1-Jul 5")
Cash-driven informal credit market reaches $500 billion in India
While India has a highly under-penetrated formal credit market, it has a very large informal credit market.
 "Cash-driven informal credit market reaches $500 billion in India")
'Not received order from any French court': India on Cairn seizing assets
Trying to ascertain the facts, and whenever such an order is received, appropriate legal remedies will be taken, says govt
 "'Not received order from any French court': India on Cairn seizing assets")
PM Modi to gift 65 new projects worth over Rs 421 crore to Varanasi
Prime Minister Narendra Modi is all set to gift 65 new projects worth Rs 421.54 crore to the people of Varanasi, which is his parliamentary constituency, on his next visit to the holy city
 "PM Modi to gift 65 new projects worth over Rs 421 crore to Varanasi")
Spurt in outsourcing, digital deals to drive IT sector rebound: Crisil
The 100 billion dollar information technology services sector will stage a strong recovery this fiscal with revenue growth of 10 to 11 per cent, according to Crisil Ratings
 "Spurt in outsourcing, digital deals to drive IT sector rebound: Crisil")
DDA extends last date for payment of balance bid premium for e-auctions
DDA has extended the last date for submitting balance 75 per cent bid premium to July 31, for successful bidders in e-auction, officials said.
 "DDA extends last date for payment of balance bid premium for e-auctions")
Odisha issues notice inviting tender for e-auction of 11 mineral blocks
The Odisha government has issued Notice Inviting Tender for online auction of 11 more mining blocks, including seven virgin blocks
 "Odisha issues notice inviting tender for e-auction of 11 mineral blocks")
Hasty withdrawal of easy policy can undo gains: RBI Guv Shaktikanta Das
Inflation is showing signs of stickiness, but it is only a "transitory hump" that should moderate in the third quarter, he said.
 "Hasty withdrawal of easy policy can undo gains: RBI Guv Shaktikanta Das")
Domestic SaaS space has potential to become $1 trn opportunity by 2030: Rpt
The report - Shaping India's SaaS Landscape - highlights that there are nearly 1,000 funded SaaS companies in India, of which 10 have unicorn status
 "Domestic SaaS space has potential to become $1 trn opportunity by 2030: Rpt")
Indo-Pacific new economic centre of gravity of globalised world: Goyal
Piyush Goyal invited the business community to actively take part in efforts for bolstering development, trade and growth in the region
 "Indo-Pacific new economic centre of gravity of globalised world: Goyal")
KTR writes to Sitharaman, seeks Centre's support for MSMEs in Telangana
Telangana IT and Industries Minister KT Rama Rao wrote to Union Finance Minister Nirmala Sitharaman, seeking support for the Micro, Small and Medium Enterprises in the state amid the pandemic
 "KTR writes to Sitharaman, seeks Centre's support for MSMEs in Telangana")