Page 1559 - Economy & Policy News

Bring natural gas under GST to push for gas-based economy: Industry

The government should bring natural gas under the Goods and Services Tax (GST) regime to realise Prime Minister Narendra Modi's vision for a gas-based economy, the industry has said

Govt pays Rs 1,364 cr to 2 mn undeserving beneficiaries under PM-KISAN: RTI

The government has paid Rs 1,364 crore to over 2 million undeserving beneficiaries under its ambitious PM-KISAN scheme, a reply to a Right to Information query by the Agriculture Ministry reveals

RBI raises concerns over zero-coupon bond for PSB recapitalisation

RBI has expressed some concerns over zero-coupon bonds for the recapitalisation of public sector banks (PSBs) and discussion is on between the central bank and Finance Ministry to find a solution

India's coal import drops 17% to 137.16 mn tonne in Apr-Nov: mjunction

India's coal import declined by 17 per cent to 137.16 million tonne (MT) in the April-November period of the current fiscal.

Labour ministry likely to give shape to National Employment Policy by Dec

The Ministry of Labour and Employment is likely to give a shape to the National Employment Policy by Dec this year following the implementation of four labour codes, completion of four major surveys

Strong recovery in oil and gas volumes likely in fiscal 2022: Icra

The domestic demand for petroleum products is expected to increase at a healthy rate of 8 to 10 per cent in FY22 on a year-on-year basis, ratings agency Icra said

Remote working to boost hybrid workforce, gig economy in 2021: Study

The success of work-from-home in 2020 will boost the gig economy and hybrid workforce this year, according to a study

India's fuel demand at 11-month high in December amid economic recovery

India's fuel demand rose for the fourth straight month in December

India ushering in rapid reforms to become $5 trn economy by 2025: Goyal

India is strengthening the entire ecosystem to achieve Prime Minister Narendra Modi's dream of becoming a $5 trillion, Union Minister Piyush Goyal said on Saturday

KYC must for cash purchase of jewellery above Rs 10 lakh, govt clarifies

Govt carified that any purchase of gold, silver, jewellery, or precious gems and stones below Rs 2 lakh does not require PAN or Aadhaar of a customer as mandatory KYC document

Railways announces 33 Sankranti special trains in Andhra from Jan 9 to 16

Considering the Sankranti festival rush, the South Central Railway (SCR) zone will run more than 30 special trains to ferry passengers from Hyderabad to multiple places in Andhra Pradesh from Saturday

Firms likely to raise $5 billion through dollar bond sales in January

In India, Export Import Bank of India raised $1 billion, State Bank of India garnered $600 million, and Shriram Transport about $500 million

MCA proposes pre-packaged insolvency resolution process for Covid defaults

The future phases would cover a default above Rs 1 crore, followed by Rs 1 to Rs 1 lakh

Google tax mop-up rises 64%, Bengaluru and Hyderabad top the list

This complements improvement in direct tax collection, with contraction narrowing to 9.6 per cent as on January 7

Irdai wants fuel pumps and cooking gas agencies to sell insurance

The regulator also wants all life insurance companies to have a 13th month persistency of 90 per cent and 61st month persistency of not below 65 per cent

Life insurers see 2.7% contraction in December premium collection

Top private insurers such as HDFC Life, ICICI Life, and Max Life Insurance registered double-digit growth in December

Economists urge PM Modi to push privatisation, increase infra spending

Some participants also pitched for creating a separate ministry for privatisation of PSUs and assets, if needed, as was the case earlier.

Cap on domestic airfare extended till 31 March, but with rules tweaked

Airlines will need to sell 20% seats below midpoint of the fare band on each flight instead of 40% as mandated earlier

RBI to resume normal liquidity management operations in phased manner

The RBI on Friday said it has decided to restore normal liquidity management operations in a phased manner and will conduct variable rate reverse repo auction of Rs 2 lakh crore on January 15.

Indian economy to rebound with 8.9% growth in fiscal 2022: IHS Markit

The GDP contracted by a record 23.9 per cent in the April-June quarter, the contraction came down to 7.5 per cent in the September quarter