Page 1676 - Economy & Policy News
GST Council to take call on funding compensation shortfall: FM Sitharaman
Nirmala Sitharaman said GST Council will arrive at a common ground on ways to compensate states for loss of revenue
 "GST Council to take call on funding compensation shortfall: FM Sitharaman")
New rule for importers to get FTA concessions; industry raises concern
Proof of 35% value addition in goods from country of origin must from Monday
 "New rule for importers to get FTA concessions; industry raises concern")
Covid-19 pandemic pushes Union govt's debt past Rs 100-trillion mark
Sudden jump of Rs 7 trillion in Q1 pushed debt to record; enhanced borrowing this year will add to the debt stock by FY21-end, weakening its sustainability
 "Covid-19 pandemic pushes Union govt's debt past Rs 100-trillion mark")
Royalties paid by Indian firms in line with emerging markets, shows data
Figures are based on percentage of a country's GDP
 "Royalties paid by Indian firms in line with emerging markets, shows data")
FM Sitharaman asks Asian Development Bank to step up lending to India
Sitharaman said India has the absorptive capacity to receive about $4 billion a year from sovereign operations, and about $1.5 billion annually from the private sector financing window
Digital commission likely to clear pitch for broadband connectivity for all
Proposal in line with Prime Minister Narendra Modi's announcement on August 15 to connect in a thousand days over six-lakh villages
 "Digital commission likely to clear pitch for broadband connectivity for all")
Trai issues fresh tariff disclosure norms to bring in transparency
Trai has now directed telcos to publish, within 15 days, each tariff plan for postpaid and prepaid subscribers, service area wise
 "Trai issues fresh tariff disclosure norms to bring in transparency")
Twice in 24 hours, PM Narendra Modi assures farmers MSP will be protected
This, even as states rushed to guard their turf and nullify the impact of the Bills
 "Twice in 24 hours, PM Narendra Modi assures farmers MSP will be protected")
LS okays Rs 2.35 trn extra spending, bulk to be spent on public schemes
FM also said that probably for the first time the government has sought such a huge amount in the first batch of the supplementary demands for grants
 "LS okays Rs 2.35 trn extra spending, bulk to be spent on public schemes")
Tractor sales rise nearly 65% year on year in Aug as farming holds steady
Industry remains optimistic for festival months as the supply side has improved significantly compared to last month.
 "Tractor sales rise nearly 65% year on year in Aug as farming holds steady")
Govt looks to extend faceless assessment scheme to 8 more I-T proceedings
The Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Bill, 2020, is introduced in the Lok Sabha on Friday
 "Govt looks to extend faceless assessment scheme to 8 more I-T proceedings")
Centre to ask foreign firms to use more local materials for govt projects
Indian authorities have been aggressively promoting Prime Minister Narendra Modi's flagship campaign of a self-reliant economy by urging domestic manufacturers to cut down on imports
 "Centre to ask foreign firms to use more local materials for govt projects")
Southern Railway to set up 105 MWp solar plants on unused and vacant land
Zone proposes to provide rooftop solar plants of 2.69 MWp under developer mode by Solar power developers at Perambur and Golden Rock workshops
 "Southern Railway to set up 105 MWp solar plants on unused and vacant land")
Govt's total liabilities rise to Rs 101.3 trn in Q1: Finmin report
Public debt accounted for 91.1 per cent of total outstanding liabilities at end-June 2020, the quarterly report on public debt management released on Friday said
 "Govt's total liabilities rise to Rs 101.3 trn in Q1: Finmin report")
FM urges ADB to step up lending, private sector operations to ease poverty
India has the absorptive capacity to receive about USD 4 billion a year from sovereign operations and about USD 1.5 billion annually from the private sector financing window, Sitharaman said
 "FM urges ADB to step up lending, private sector operations to ease poverty")
No procurement from nations where Indian tenders prohibited: Govt
The government has barred companies from countries, which do not allow Indian firms to participate in their government procurement, from participating in any government procurement tenders in India
 "No procurement from nations where Indian tenders prohibited: Govt")
Yield on govt securities moderated sharply in Q1: Finance Ministry report
The additional expenditure has pushed up government borrowing during April-June quarter with the Centre issuing dated securities aggregating to Rs 3,46,000 crore as against Rs 2,21,000 crore in Q1FY20
 "Yield on govt securities moderated sharply in Q1: Finance Ministry report")
Covid-19 pandemic hits value of Indian brands, says Kantar report
Like major banks - State Bank of India, Axis Bank, and IndusInd Bank, top auto brands such as Maruti Suzuki, Bajaj Auto, and Hero MotoCorp have suffered significant losses
 "Covid-19 pandemic hits value of Indian brands, says Kantar report")
Retail inflation for farm workers, rural labourers eases marginally in Aug
Retail inflation for farm workers and rural labourers cooled down to 6.32% and 6.28%, respectively, in August compared to the year ago period mainly due to the softening of prices of some food items
 "Retail inflation for farm workers, rural labourers eases marginally in Aug")
UP govt targets Rs 15,000 cr loans for MSMEs to ease working capital woes
UP aiming to double MSME exports to Rs 2.40 trillion in 3 years
 "UP govt targets Rs 15,000 cr loans for MSMEs to ease working capital woes")