Page 1704 - Economy & Policy News
NHAI develops portal to track performance of developers, consultants
The National Highways Authority of India (NHAI) on Wednesday said it has developed a portal to track the performance of its developers and consultants.
 "NHAI develops portal to track performance of developers, consultants")
I-T refunds of Rs 95,853 cr issued to 2.55 million taxpayers this fiscal
The Income Tax department on Wednesday said it has issued refunds worth Rs 95,853 crore to over 25.55 lakh taxpayers in the current fiscal.
 "I-T refunds of Rs 95,853 cr issued to 2.55 million taxpayers this fiscal")
India exports only 1% of wheat, pulses and fruits, says parliamentary panel
It called for upgrading agri infrastructure, improving efficiency levels in the supply chain and putting emphasis on value addition.
 "India exports only 1% of wheat, pulses and fruits, says parliamentary panel")
Impose anti-dumping duty on chemical from China, Malaysia, Vietnam: DGTR
DGTR has recommended imposition of anti-dumping duty for five years on 'choline chloride', a chemical imported from China, Malaysia and Vietnam, to guard domestic players from cheap inbound shipments.
 "Impose anti-dumping duty on chemical from China, Malaysia, Vietnam: DGTR")
Government debt likely to stand at 80% of GDP by FY30: Motilal Oswal
The government's debt rose to 75% of GDP in FY20 from 70% in FY18 and is likely to reach 91% in FY21, according to estimates from the EcoScope report of Motilal Oswal Financial Services.
 "Government debt likely to stand at 80% of GDP by FY30: Motilal Oswal")
Gujarat tops Niti Aayog's Export Preparedness Index, Maharashtra second
Gujarat has topped the Niti Aayog'sExport Preparedness Index 2020 followed by Maharashtra and Tamil Nadu, according to the government think tank's report released on Wednesday.
 "Gujarat tops Niti Aayog's Export Preparedness Index, Maharashtra second")
Planning to host BRICS Games during Khelo India Games next year: Rijiju
India are planning to host BRICS Games in 2021 and may align it with Khelo India Games, Sports Minister Kiren Rijiju has said
 "Planning to host BRICS Games during Khelo India Games next year: Rijiju")
Household financial savings improve on sharp decline in borrowings: RBI
Savings more precautionary than productive, consumer demand unlikely to improve soon
 "Household financial savings improve on sharp decline in borrowings: RBI")
Severe shock to consumption, economy will take longer to recover: RBI
"Retrenchment in activity that is unprecedented in history," says the annual report released by the central bank
 "Severe shock to consumption, economy will take longer to recover: RBI")
Order restricting imports of GM items to have little impact: Experts
FSSAI last week handed down an order requiring GM-free certification for importing select food items from a competent authority in the country shipping them
 "Order restricting imports of GM items to have little impact: Experts")
Two-wheelers merit GST rate revision, says FM Nirmala Sitharaman
Council to take up issue; SoPs for hotels, tourism, aviation may be tweaked
 "Two-wheelers merit GST rate revision, says FM Nirmala Sitharaman")
RBI steps into bond market with Operation Twist to cool down yields
Under the mechanism, the apex bank buys long-term bonds and sells short-term bonds. This cools down long-term yields, raises short-term yields, but keeps liquidity neutral
 "RBI steps into bond market with Operation Twist to cool down yields")
States to pitch for dispute resolution system at GST Council meet on Aug 27
Punjab FM says not paying cess amounts to sovereign default
 "States to pitch for dispute resolution system at GST Council meet on Aug 27")
Land acquisition for commercial mining may come under coal law of 1957
Under Coal Bearing Areas Act, Centre will acquire land and then give it on lease to miners; SBI raises concerns on offtake, demand of coal from commercial mines
 "Land acquisition for commercial mining may come under coal law of 1957")
Public procurement: Bidders from neighbours to require security clearance
Move will mostly affect Chinese companies who will have to register with the DPIIT
 "Public procurement: Bidders from neighbours to require security clearance")
Digital payments in India likely to grow threefold by 2025, says report
According to a report by Redseer Consulting, Rs 7,092 trillion worth of transactions are expected to be conducted by 2025, a CAGR of 27 per cent
 "Digital payments in India likely to grow threefold by 2025, says report")
GST Council-like authorities for land, labour, power must for reforms: RBI
"In fact, Goods and Services Tax (GST) Council type of apex authorities can be set up in respect of land, labour and power to drive structural reforms," RBI said in its 2019-20 annual report
 "GST Council-like authorities for land, labour, power must for reforms: RBI")
DPIIT releases registration format for bidders from neighbouring countries
The bidders are also required to submit an application for security clearance, as per the format
CRISIL DRIP: Stress is reducing in most crops as rains return in August
Overall, abundant rains have supported sowing activity
 "CRISIL DRIP: Stress is reducing in most crops as rains return in August")
Google tax contributes merely 1% of direct tax kitty in major cities
Bengaluru, Hyderabad top the collections, Mumbai and Delhi together mop up a mere Rs 87 crore
 "Google tax contributes merely 1% of direct tax kitty in major cities")