Page 1564 - Economy & Policy News

Fake GST invoice racket worth Rs 510 cr busted in Cuttack, kingpin held

Odisha Goods and Services Tax (GST) Commissionerate busted tax invoice fraud to the tune of Rs 510 crore and arrested its mastermind, Sandeep Mohanty in Cuttack, an official said on Friday

GST mop-up at record high, surges to Rs 1.15 trillion in December

The collection rose for the fourth consecutive month in December, indicating the reinstatement of normalcy in economic activity after months of disruption caused by the Covid-19 lockdown

Cabinet likely to take up policy for PSU privatisation this month

The Public Sector Enterprises policy would include broad contours of the government's plans for privatisation.

Government removes import restrictions on room and car fresheners

A notification in this regard was issued by the Directorate General of Foreign Trade (DGFT), under the commerce ministry

Govt's paddy procurement up 25% to 48.79 mn tonnes at Rs 92,121 cr so far

Out of the total purchase of 487.92 lakh tonnes, Punjab has contributed 202.77 lakh tonnes, which is 41.55 per cent of the total procurement

States, UTs set to borrow Rs 3.16 trillion through SDLs in March quarter

Overall, in Q3FY21, gross SDL issue was Rs 2.02 trn

UPI handled record 2.23 bn transactions, worth Rs 4 trn, in December

Payments system breached the 2-billion mark in volumes for the third time in December

Demand for MGNREGS work returns in Dec; 80% of FY21 funds already spent

The reversal in demand also reflects the growing need for further pushing the programme

Bank credit growth slows in Q2; personal loans maintain double-digit growth

Industrial credit, however, contracted 1.7 per cent YoY and its share in total credit was nearly 30 per cent at the end of the quarter.

Telecom, pharma on revival path as businesses limp back to pre-Covid levels

In the second part of the series, we are looking at the telecom, pharma, and automotive sectors

Slowing economy drove urban unemployment to four-quarter high in Q4FY20

The spike in the rate could also be attributed to a slightly higher willingness among women to participate in the job market

Companies shelve capex plans on pandemic blow, new projects decline 88%

Completed projects are down 74.3 per cent to Rs 43,000 crore

Rise in fuel sales in 2020 shows signs of economic recovery: Indian Oil

IOC chairman S M Vaidya said 2020 was a year of digitalisation at the state-run oil marketing company, which had helped it achieve seamless business continuity

RoDTEP benefits subject to conditions of procedural requirements: FinMin

Availability of benefits under tax refund scheme RoDTEP for exporters would be subject to conditions

RBI launches household surveys to get inputs for its monetary policy

The cities include, Ahmedabad, Bengaluru, Chandigarh, Chennai, Delhi, and Thiruvananthapuram

Foreign exchange reserves decline by $290 million to $580.84 billion

The country's foreign exchange reserves declined by $290 million to $580.841 billion in the week ended December 25, RBI data showed

Delhi's peak power demand crosses 5000 MW mark, highest this season

Delhi's peak power demand soared to the highest this winter at 5021 MW on Friday, discom officials said

GST mop up rose to highest ever level at over Rs 1.15 trillion in December

Mop up was 10.57% higher month-on-month, and 11.65% higher year-on-year despite an elevated base on both yardsticks

Economic recovery fizzling out? Core sector output shrinks 2.6% in November

Impact on IIP likely even as some economists believe consumer goods might tone it down to some extent. Core sector accounts for 40.27% of IIP

Govt extends RoDTEP scheme to all merchandise exports from today

The scheme will refund to exporters, the embedded central, state and local duties and taxes