Page 1698 - Economy & Policy News
98% of exporters, especially MSMEs will benefit under MEIS: Piyush Goyal
Ninety-eight per cent of exporters, especially MSMEs will benefit under MEIS with reward cap of Rs. 2 crore/ Importer Exporter Code from September 1 to December 2020
 "98% of exporters, especially MSMEs will benefit under MEIS: Piyush Goyal")
Financial conditions looking up in Q2 due to steps by govt, RBI: CII-IBA
The cost of fund index and liquidity index are showing an impressive reading of 80.6 and 71.1 in the present quarter survey
 "Financial conditions looking up in Q2 due to steps by govt, RBI: CII-IBA")
India among large EMs set for highest debt burden by 2021, says Moody's
Large emerging market sovereigns will have higher debt burdens for the next few years, says ratings agency.
 "India among large EMs set for highest debt burden by 2021, says Moody's")
Power discoms to get five more years to turnaround under new scheme
The earlier discom reform scheme UDAY concluded in FY20 with most of the states failing to meet their stipulated targets
 "Power discoms to get five more years to turnaround under new scheme")
India ready to sign limited trade deal with US anytime, says Piyush Goyal
The US has signed a mini trade deal with the European Union, but it is yet to respond to India's request
 "India ready to sign limited trade deal with US anytime, says Piyush Goyal")
India, Australia and Japan to form pact on supply-chain resilience
The arrangement will in the long term act as a counterweight to current and proposed trading arrangements in the Asia-Pacific region, officials said
 "India, Australia and Japan to form pact on supply-chain resilience")
Centre, state finmin officials thrash out GST compensation gaps
The states were informed that if they take the option of borrowing Rs 97,000 crore under a special window, they will still get Rs 2.35 trillion minus Rs 97,000 crore from the compensation cess
 "Centre, state finmin officials thrash out GST compensation gaps")
GST compensation cess mop-up rises for first time in five months
Collection up 6% in Aug YoY; overall mop-up below Rs 1-trn mark for 6th month
 "GST compensation cess mop-up rises for first time in five months")
August manufacturing activity hits growth after 4 months, PMI rises to 52
New orders pulled up output, but job losses continue for 5th month
 "August manufacturing activity hits growth after 4 months, PMI rises to 52")
Coal India to invest over Rs 1.22 tn on 500 projects by 2024: Pralhad Joshi
With an aim to achieve 1 bn tn (BT) coal production by the year 2023-24 and make the nation Aatmanirbhar, National Miner Coal India Ltd (CIL) will invest over Rs 1.22 trillion on about 500 projects
 "Coal India to invest over Rs 1.22 tn on 500 projects by 2024: Pralhad Joshi")
From PMI to auto sales, August numbers send mixed signals on recovery
E-way bills, after showing an uptrend since April, stagnated in August
 "From PMI to auto sales, August numbers send mixed signals on recovery")
Despite Covid, East Coast Railway carries 72.2 mt of freight during Apr-Aug
It has utilised about 7,135 wagons per day during the April-July period in the current financial year
 "Despite Covid, East Coast Railway carries 72.2 mt of freight during Apr-Aug")
Auto sales bounce back in August on low base effect, pent-up demand
Dispatches at India's top two car makers, Maruti Suzuki India and Hyundai Motor India, zipped past not only the pre-Covid phase but also the months preceding the pandemic
 "Auto sales bounce back in August on low base effect, pent-up demand")
Exempt NBFC sector from new current account opening guidelines: FIDC
The RBI on August 6 revised norms for opening of current accounts by banks, in order to strengthen credit discipline
 "Exempt NBFC sector from new current account opening guidelines: FIDC")
UPI volumes at new high; digital transactions almost at pre-Covid levels
In August, UPI volumes touched 1.61 billion transactions worth Rs 2.98 trillion, compared to 1.49 billion transactions in July worth Rs 2.9 trillion
 "UPI volumes at new high; digital transactions almost at pre-Covid levels")
Telecom ministry accounts officers reach out to PM, seek merger with IA&AS
Accounts and finance wing officers under the telecom ministry have approached Prime Minister Narendra Modi for merger with the Indian Audit and Account Services as part of administrative reforms.
 "Telecom ministry accounts officers reach out to PM, seek merger with IA&AS")
Trade union body urges govt not to corporatise ordnance factories
The All India Trade Union Congress (AITUC) on Tuesday appealed to Prime Minister Narendra Modi not to corporatise the over two centuries old Indian ordnance factories.
 "Trade union body urges govt not to corporatise ordnance factories")
India demands tangible action for UNSC in line with Common African Position
India has demanded tangible action for UN Security Council reforms in line with Common African Position and not let the process be held hostage.
 "India demands tangible action for UNSC in line with Common African Position")
Gross GST collections in Aug down 1.11% month-on-month to Rs 86.449 cr
The gross GST collection in August stood at Rs 86,449 crore, down from Rs 87,422 crore collected in July, the Finance Ministry said on Tuesday.
Waiver of EMI interest against basic canon of finance: Centre to SC
Waiver of interest on deferred EMIs during the moratorium period would be against the basic canons of finance and unfair to those who repaid loans as per schedule, the Centre told the Supreme Court