Page 1570 - Economy & Policy News

Govt shells out Rs 22,087 cr as interest towards recap bonds for banks

Under this mechanism, the government issues recapitalisation bonds to a public sector bank which needs capital. The said bank subscribe to the paper against which the government receives the money

Govt procures 25% more paddy worth Rs 84,928 cr this kharif season so far

Paddy procurement has increased by 25 per cent in this kharif marketing season so far to 449.83 lakh tonnes at the minimum support price (MSP), valued at Rs 84,928.10 crore.

Aim to maintain higher speeds of freight trains in 2021: Railway Board head

According to a Rail Ministry presentation, the average speed of a goods train stood at 23.6 kmph in 2019-2020 and rose to 42.9 kmph in 2020-2021

45K entities to come under mandatory 1% cash payment of GST liability ambit

The new rule restricts use of input tax credit (ITC) for discharging GST liability to 99 per cent effective January 1, 2021

India to become 5th largest economy in 2025, 3rd largest by 2030: CEBR

India, which appears to have been pushed back to being the world's sixth biggest economy in 2020, will again overtake the UK to become the fifth largest in 2025 and race to the third spot by 2030

Union Minister Gadkari announces multi-model logistics park in Silchar

Nitin Gadkari has announced that a multi-model logistics park will be constructed in Silchar and the Balacherra-Harengajao section of the Silchar-Saurashtra Highway will be completed in March 2022

PSBs are offering personal loans at attractive rates, shows CIBIL data

The interest rate offered by PSBs like State Bank of India (SBI), Bank of Baroda and Bank of India hover around 8.9 per cent-10.50 per cent.

RBI's liquidity measures bring down top-rated corporate bond spreads

The yield contraction helped companies raise money and tide over the tight liquidity conditions they were facing after defaults by prominent NBFCs such as IL&FS and DHFL

User fee collection through FASTag crosses Rs 80 cr per day: NHAI

The National Highways Authority of India (NHAI) on Friday said the electronic toll collection through FASTag has crossed Rs 80 crore a day with record 50 lakh transactions per day.

CAIT urges FM Nirmala Sitharaman to defer rollout of Rule 86B in GST

This restriction will not apply where the managing director or any partner has paid more than Rs 1 lakh as income tax

Manufacturing firms log 'softer contraction' in sales at 4.3% in Q2: RBI

Demand conditions in the manufacturing sector returned to the recovery mode with a softer contraction of 4.3 per cent in Q2 in terms of nominal sales

Govt may have to apply brakes on existing fiscal consolidation road map

Centre may have to amend FRBM Act once again to achieve this, which isn't an issue as such an amendment does not require a two-third or three-fourth majority

NPAs set to see a sharp jump this year amid Covid-19 pandemic: Experts

Of these accounts that would undergo restructuring, one-third, or Rs 6-9 trillion, would turn into NPAs

One-third of CMOs expect V-shaped recovery of their industries, says report

About 23 per cent of them expect the economy to likely rebound in two years, said the report by Octane Research conducted with over 250 leading CMOs and leaders from the Indian industry

Telecom industry's active subscriber tally up by 2.5 mn in October: Report

The telecom industry's 'active' subscriber base rose by nearly 2.5 million in October 2020 to touch about 961 million

India is Asia's 'gravity point': Japanese Deputy Defence Minister Nakayama

Describing India as "Asia's gravity point", Japanese Deputy Minister of Defence Yasuhide Nakayama has said his country would like to see India "commit more" towards the Quadrilateral coalition

Centre, states must continue counter-cyclical fiscal measures: RBI article

As per the article, the build-up of combined fiscal deficit in H1:2020-21 is sharper, but attributable mostly to the developments in the first quarter

India, US need to be attentive to developments: Nisha Desai Biswal

India and the US will need to be attentive to the "dangerous currents" in the Indo-Pacific region, US India Business Council president Nisha Desai Biswal said on Friday.

Foundries demand import duty cut on pig iron, other key raw materials

Hit by surging input costs, the foundry industry in the country has demanded reduction of import duty for pig iron and other raw materials, an official said on Friday.

Indian auto industry expected to see stronger growth in 2021-22: Nomura

Electric vehicle sales, especially two-wheleers likely to see positive movements, according to Nomura Research Institute