Page 1715 - Economy & Policy News
Empty promises: Diversity pledges won't change workplaces, here's what will
Training can actually harm workplace relationships, while mentoring places the burden of changing the system on those disadvantaged by it and with the least influence over it
 "Empty promises: Diversity pledges won't change workplaces, here's what will")
As India turns 74, citizens feel less optimistic about future: Survey
Citizens feel economic growth and prosperity in India will benefit only a select few
 "As India turns 74, citizens feel less optimistic about future: Survey")
Unlock BFSI 2.0: Covid has accelerated digital payment adoption by 5-10 yrs
Apart from accelerating its evolution in India, Sameer Nigam, CEO, PhonePe, said, "Covid has been very helpful in customer acquisition, even more than demonetisation"
 "Unlock BFSI 2.0: Covid has accelerated digital payment adoption by 5-10 yrs")
'Aatmanirbhar Bharat' also means 'making for the world', says PM Modi
In his Independence Day speech from Red Fort, PM Modi says corona crisis not so big as to halt India's juggernaut, invokes 'Vocal for local' mantra of self-reliance, launches digital health mission
 "'Aatmanirbhar Bharat' also means 'making for the world', says PM Modi")
Reserve Bank to transfer Rs 57,128 crore as dividend to the Union govt
The government had budgeted Rs 60,000 crore as dividend to bridge its fiscal deficit
 "Reserve Bank to transfer Rs 57,128 crore as dividend to the Union govt")
I-T dept undergoes overhaul to implement faceless assessment scheme
3,500 posts of assessment officers diverted to other centres; officers flag transitional challenges in implementing scheme
 "I-T dept undergoes overhaul to implement faceless assessment scheme")
FM Sitharaman asks tax officers to make faceless appeal system a success
The faceless appeal system was also unveiled by prime minister Narendra Modi on Thursday
 "FM Sitharaman asks tax officers to make faceless appeal system a success")
FM Nirmala Sitharaman asks seven CPSEs to spend 50% capex in H1
This is because the government looks to maintain the pace of capital and infrastructure projects in a bid to soften the economic blow from the Covid-19 pandemic
 "FM Nirmala Sitharaman asks seven CPSEs to spend 50% capex in H1")
DDA starts online service for leasehold to freehold conversion of property
The Delhi Department Authority has launched an online facility for conversion of plotted properties from leasehold to freehold, officials said on Friday
 "DDA starts online service for leasehold to freehold conversion of property")
GoM favours e-way bill for intra-state gold movement, discusses e-invoicing
The move will help track the movement of gold to help plug tax evasion and smuggling amid rising prices and subdued GST collections
 "GoM favours e-way bill for intra-state gold movement, discusses e-invoicing")
Kharif sowing completed in over 95% of normal area, shows data
Acreage under rice, moong, ragi, groundnut, soybean, and nigerseed has seen the maximum increase
 "Kharif sowing completed in over 95% of normal area, shows data")
Covid-19 impact: Bank credit growth moderates further to 5.5% by July-end
Bankers said business conditions have been improving, but only incrementally. However, demand remains weak (for credit) and many people are repaying loans, some of of which are under moratorium
 "Covid-19 impact: Bank credit growth moderates further to 5.5% by July-end")
July WPI at -0.58%, in negative zone for fourth month on the trot
The steep fall in deflation from June to July slightly reduced the gap between WPI and Consumer Price Index-based inflation
 "July WPI at -0.58%, in negative zone for fourth month on the trot")
Part of 10-year bond left unsold in auction as traders demand higher yield
The cut-off yield in the auction of this bond came at 5.96 per cent, against its coupon of 5.77 per cent. The bond was launched just last week
 "Part of 10-year bond left unsold in auction as traders demand higher yield")
July exports shrink 10.2%, trade deficit hits three-month high of $4.83 bn
Imports contraction falls steeply to 28% as trade deficit rises to three-month high of $ 4.83 billion
 "July exports shrink 10.2%, trade deficit hits three-month high of $4.83 bn")
Govt removes tweet on bringing hotel bills of over Rs 20K under I-T scanner
The tweet was put up by mygovindia, a platform founded by the government to promote the active participation of citizens in their country's governance and development, on Thursday
 "Govt removes tweet on bringing hotel bills of over Rs 20K under I-T scanner")
FM thanks I-T officers for working towards starting faceless assessment
Finance Minister Nirmala Sitharaman on Friday met officers of the income tax department and thanked them for their efforts towards starting faceless assessment, sources said
Niti Aayog partners Nasscom to launch AI-based module for school students
This module is the next step in bringing artificial intelligence (AI) to Indian classrooms and is a successor to the AI base module launched in February this year, an official statement said
 "Niti Aayog partners Nasscom to launch AI-based module for school students")
Taxpayer charter, faceless assessment may not always reduce torment: Expert
Unreasonable collection targets, mainly towards year end, often prompt tax official to make aggressive demands; in case of disputes, the official may favour the dept's view
 "Taxpayer charter, faceless assessment may not always reduce torment: Expert")
Forex reserves climb to record $538.191 bn, gold reserves up at $39.785 bn
In the previous week ended July 31, the reserves had increased by $11.938 billion to reach $534.568 billion
 "Forex reserves climb to record $538.191 bn, gold reserves up at $39.785 bn")