Page 1435 - Economy & Policy News
Factory orders, production rise at slowest rates in 8 months in April: PMI
India's manufacturing sector activity was largely flat in April, as rates of growth for new orders and output eased to eight-month lows amid the intensification of the COVID-19 crisis
 "Factory orders, production rise at slowest rates in 8 months in April: PMI")
Low incentive could dampen interest in PLI scheme for solar manufacturing
The Union Cabinet last month approved the MNRE proposal for ramping up domestic manufacturing of solar photovoltaic panels under the Centre's PLI scheme
 "Low incentive could dampen interest in PLI scheme for solar manufacturing")
Covid second wave: MSMEs need help again but not the way govt did last time
While players in the financial ecosystem are opening up to the idea of receivables funding for the sector, this market needs a regulator, which a Parliament panel feels only RBI can provide
 "Covid second wave: MSMEs need help again but not the way govt did last time")
Easing of essential goods imports to help fight Covid-19 pandemic
The govt has exempted basic customs duty on import of Remdesivir, APIs of Remdesivir, Beta Cyclodextrin used in making Remdesivir and specified inflammatory diagnostic kits till Oct-end
 "Easing of essential goods imports to help fight Covid-19 pandemic")
Govt extends income tax, GST compliance timelines amid Covid-19 crisis
Late fees for filing summary return or GSTR 3B waived; Interest rate halved to 9% for 15-day delay in the case of GST assesses with turnover of over Rs 5 crore
 "Govt extends income tax, GST compliance timelines amid Covid-19 crisis")
India's April exports up 197% on low base; trade deficit widens to $15.2 bn
Better export figure largely due to low-base effect, as Covid-19 induced nationwide lockdown a year ago had temporarily stopped economic activity
 "India's April exports up 197% on low base; trade deficit widens to $15.2 bn")
Google tax: American IT and steel lobbies back action against India
The group has called for a retaliatory tariff action against India, if New Delhi does not roll back the 'unilateral and discriminatory' equalisation levy or Google Tax
 "Google tax: American IT and steel lobbies back action against India")
Govt mulls more Covid relief measures for businesses amid second wave
The Centre and the RBI are exploring options for businesses hit hard by the second wave
 "Govt mulls more Covid relief measures for businesses amid second wave")
Govt waives late fee on delayed filing of March, April GSTR-3B, tax payment
The government has waived late fee on delayed filing of monthly return GSTR-3B and tax payment for the months of March and April and also cut interest rate for late filers
 "Govt waives late fee on delayed filing of March, April GSTR-3B, tax payment")
India's coal import likely to be subdued in coming months: mjunction
India's coal import is expected to be subdued in coming months on account of various factors like prevailing Covid situation and high coal stock in the system, according to mjunction
 "India's coal import likely to be subdued in coming months: mjunction")
Exports jump to $30.2 billion in April; trade deficit at $15.24 billion
Imports too rose to $45.45 billion last month as against $17.09 billion in April 2020
 "Exports jump to $30.2 billion in April; trade deficit at $15.24 billion")
GST collection sets new record high at Rs 1.41 trillion in April
The GST revenues during April 2021 are the highest since the introduction of GST, says govt
 "GST collection sets new record high at Rs 1.41 trillion in April")
ATF price hiked 6.7%; petrol, diesel price increase may be on the anvil
The increase in price comes after two rounds of reduction last month
 "ATF price hiked 6.7%; petrol, diesel price increase may be on the anvil")
India's electricity generation falls 2.9% in second half of April
Electricity supply to Karnataka - home to India's tech hub Bengaluru - fell over 15%
 "India's electricity generation falls 2.9% in second half of April")
At Rs 1.41 trillion, GST collection for April 2021 sets new record
Despite the second wave of coronavirus pandemic affecting several parts of the country, Indian businesses have once again shown remarkable resilience, says govt
 "At Rs 1.41 trillion, GST collection for April 2021 sets new record")
Four reasons why India's coronavirus crisis will derail the world economy
The virulence of the second wave in India seems to be related to a confluence of factors: government complacency, driven by poor data collection and being in denial about the reality of the data;
 "Four reasons why India's coronavirus crisis will derail the world economy")
FinMin releases first instalment worth Rs 8,873 cr of SDRF to states
Up to 50 per cent of the amount released, which is Rs 4436.8 crore, can be used by the states for coronavirus (Covid-19) containment measures
 "FinMin releases first instalment worth Rs 8,873 cr of SDRF to states")
India's power consumption increases 41% to 119.27 bn units in April
Power consumption in April last year was recorded at 84.55 BU
 "India's power consumption increases 41% to 119.27 bn units in April")
Amid Covid-19 pandemic, India's insurance sector has seen contrarian growth
The industry has outperformed its global peers, but mostly by exiting the bottom of the pyramid
 "Amid Covid-19 pandemic, India's insurance sector has seen contrarian growth")
It pays to keep your head in Cloud, say CIOs at Business Standard webinar
In the Indian context, attracting talent remains a big issue because tech folks are used to work in new-age entities like an Amazon, Facebook, Google or a Flipkart
 "It pays to keep your head in Cloud, say CIOs at Business Standard webinar")