Page 1703 - Economy & Policy News
Icra finds FinMin's estimates of GST compensation gap much smaller
Estimates by Icra put the total gap at Rs 2.92 trillion against the ministry's estimates of Rs 2.35 trillion
 "Icra finds FinMin's estimates of GST compensation gap much smaller")
FRBM hike not enough; need 0.75 percentage point leeway: Thomas Isaac
In an interview with Dilasha Seth, Kerala Finance Minister Thomas Isaac says if the issue isn't settled, states will have to move Supreme Court
 "FRBM hike not enough; need 0.75 percentage point leeway: Thomas Isaac")
Forex reserves surge to $537.548 bn, gold reserves down at $37.26 bn
The country's reserve position with the IMF also increased by $6 million to $4.634 billion during the reporting week
 "Forex reserves surge to $537.548 bn, gold reserves down at $37.26 bn")
Operating profits of manufacturing companies declined in Q4FY20: RBI
The operating profits of services companies (IT and non-IT) decelerated due to moderation in sales growth during the last quarter of 2019-20, it said
 "Operating profits of manufacturing companies declined in Q4FY20: RBI")
West Bengal govt to ensure potato retail price for consumers at Rs 25/kg
The West Bengal government on Friday said it has directed potato traders to ensure that the retail price of the tuber is brought down to Rs 25 a kg from Rs 32-34 a kg prevailing now.
 "West Bengal govt to ensure potato retail price for consumers at Rs 25/kg")
One Nation, One Ration Card: Govt may extend implementation deadline
The food ministry on Friday said it is considering extending the implementation of ration card portability under the 'One Nation-One Ration Card' initiative beyond March 2021
 "One Nation, One Ration Card: Govt may extend implementation deadline")
Stagflation risks grip bond markets, high yields are here to stay: Report
The initial trigger for the spurt in the bond yields was the MPC decision to hold the rates, citing the spike in the inflation print on August 6
 "Stagflation risks grip bond markets, high yields are here to stay: Report")
Uddhav Thackeray asks MMRDA to see if metro car-shed can shift out of Aarey
Thackeray on Friday asked the Mumbai Metro and MMRDA officials to examine whether the proposed Metro car-shedin Aarey Colony can be shifted to Pahadi Goregaon area near Oshiwara.
 "Uddhav Thackeray asks MMRDA to see if metro car-shed can shift out of Aarey")
Silver lining for an office property market hit hard by the pandemic
While there has been a significant decline in sales sequantially and annually, rents are holding in top markets, says one study
 "Silver lining for an office property market hit hard by the pandemic")
RBI launches surveys on consumer confidence, inflation expectations
The results of these surveys "provide useful inputs for monetary policy", the RBI said while announcing the launch of September 2020 round of CCS and IESH through two statements
 "RBI launches surveys on consumer confidence, inflation expectations")
Maharashtra govt's stamp duty cut to do little in boosting demand: Ind-Ra
It also noted that the two key residential real estate markets of Maharashtra Mumbai and Pune may react differently to this measure, given the structural difference between these two markets
 "Maharashtra govt's stamp duty cut to do little in boosting demand: Ind-Ra")
States' GST revenue shortfall can be bridged by monetising debt, NSSF: SBI
The Centre said a special window can be provided to the states, in consultation with the RBI, for borrowing at a reasonable interest rate
 "States' GST revenue shortfall can be bridged by monetising debt, NSSF: SBI")
New science and tech policy should capture scope, relevance: Vardhan
A new policy is being formulated to capture these aspects, Science and Technology Minister Harsh Vardhan said on Friday
 "New science and tech policy should capture scope, relevance: Vardhan")
Power Ministry proposes RPO for round the clock renewable energy
Power Minister R K Singh has proposed renewable purchase obligation (RPO) mechanism for round the clock (RTC) renewable energy, which will promote storage of electricity in the country
 "Power Ministry proposes RPO for round the clock renewable energy")
Bank credit grows 5.52% to Rs 102.2 trn in fortnight ended Aug 14: RBI data
Credit to the services sector continued to grow at a robust, albeit decelerated, rate at 10.7 per cent in June 2020 vis-a-vis 13 per cent in June 2019
 "Bank credit grows 5.52% to Rs 102.2 trn in fortnight ended Aug 14: RBI data")
I-T dept to intimate taxpayers under scrutiny about faceless assessment
A Section142(1) notice is sent to an assessee to inquire about details and documents before making assessment under the Income Tax Act
 "I-T dept to intimate taxpayers under scrutiny about faceless assessment")
Salient features of the New Delhi Railway Station redevelopment plan
The Railway Land Development Authority (RLDA) has invited bids from private developers for the redevelopment of New Delhi Railway Station (NDLS) into a world-class railway station
 "Salient features of the New Delhi Railway Station redevelopment plan")
Rural demand to aid recovery but can't substitute for urban demand: Report
Rural demand can contribute towards recovery in the economy but cannot be a substitute for urban demand, according to a report
 "Rural demand to aid recovery but can't substitute for urban demand: Report")
Jan Dhan scheme completes six years, benefits over 40 crore people
Financial Inclusion is a national priority of the government as it is an enabler for inclusive growth, the finance ministry statement said
 "Jan Dhan scheme completes six years, benefits over 40 crore people")
Animal spirits stir: Economic indicators hint at slow recovery for India
Any rebound in the economy might be slow, with economists in a Bloomberg survey predicting a milder contraction of 5.3% in the quarter to September
 "Animal spirits stir: Economic indicators hint at slow recovery for India")