Page 1643 - Economy & Policy News

Opposition will ensure rain-affected farmers get relief: Devendra Fadnavis

BJP leader Devendra Fadnavis on Wednesday asked farmers in the rain-hit districts of Maharashtra not to lose hope

Govt open to further stimulus to lift economy, says DEA Secretary

The government is open to further stimulus measures to boost the coronavirus-hit economy, Economic Affairs Secretary Tarun Bajaj said

Cabinet to consider new public sector enterprises policy soon: DEA Secy

Under the policy, a list of strategic sectors will be notified where there will be at least one and a maximum of four public sector enterprise, apart from private sector companies

Cabinet approves bonus for central govt employees, 3 mn to benefit

The bonus will be given in a single installment, through Direct Benefit Transfer, before Vijayadashami, Javadekar said

Cabinet approves procurement of 1.2 mn tonne apple in J&K this season

A decision in this regard was taken in the Cabinet meeting chaired by Prime Minister Narendra Modi.

Antivirals, spaceflights, hyperloops among 20 mkts to alter economies: WEF

These markets can help societies protect and empower people, advance knowledge and understanding, and protect the environment, among other benefits

Covid impact: Labour automation, digitisation above global avg, says study

At the same time, the robot revolution will create 97 million new jobs, but communities most at risk from disruption will need support from businesses and governments, WEF said

85 mn human jobs likely to be displaced by machines by 2025: WEF Report

The 'Future of Jobs Report 2020', however, noted that 97 million new roles may emerge that are more adapted to the new division of labour between humans, machines, and algorithms

The curious case of a Rs 2.55-trillion discrepancy in state govt accounts

The territories have either spent excessively or have saved unreasonably. In either case, there is a cost that the citizen ends up bearing

Businesses, govt spar over fraudulent ITC claims and imprisonment under GST

Companies may challenge jailing provisions, say Section 69 of central GST Act is arbitrary as it empowers commissioners to arrest persons they have "reasons to believe" have claimed fraudulent ITC

Falling gas prices offer a breather to a subsidy-ridden fertiliser sector

Estimates say a 25.1% fall in natural gas prices, which makes up 50-80% of raw material cost in urea, could lead to a 12% in manufacturing cost; 28 of 31 urea plants in India are gas-based

Paddy procurement in current season exceeds by 22.43%, says govt

Govt claimed that Paddy procurement in current season has exceeded by 22.43% as compared to the previous season and the Government continues to procure Kharif 2020-21 crops on MSP from the farmers

Punjab Assembly clears farm Bills to negate Centre's latest laws

Proposes three-year jail for forcing farmers to sell wheat and paddy below MSP

MFs, alternative investment funds may come under ambit of new tax norms

0.1% tax collected at source may hit funds, investors

FDI up 16% to $27.1 bn in Apr-Aug compared to $23.35 bn year ago: Govt data

The ministry said that the total FDI, which includes reinvested earnings, grew by 13 per cent to $35.73 billion

Centre tightens public procurement criteria for border countries

Registration stands annulled if there is a change in controlling ownership, which is above 10%

EPFO records over 1 mn new enrolments in August up from 748,000 in July

Provisional payroll data released by the EPFO last month had shown that net new enrolments stood at 845,000 in July this year

I-T survey to be conducted only after approval of senior officers: CBDT

The income tax department on Friday issued new guidelines to restrict intrusive or coercive action for recovery of tax demand by Assessing Officer (AO)/Tax Recovery Officer

Nearly 6-7% road traffic shifts to railways in Sept 1-Oct 13 period

This rise is mainly due to a shift of at least 6-7 per cent traffic from roads to railway in these two months.

Govt bans natural gas, coal-bed methane producers from buying own produce

The government on October 15 notified the Natural Gas Marketing Reforms that give producers the freedom to discover the market price of gas through a standard e-bidding process