Page 1739 - Economy & Policy News
US hikes fees for non-immigrant visas; move to impact Indian IT firms
The filing fees for H-1B high-skill visas has been hiked by 21 per cent to $555, while that for L (intra-company transfer) visas has been increased by 75 per cent to $850
 "US hikes fees for non-immigrant visas; move to impact Indian IT firms")
Liquor sales fall 60% in states with high Corona cess in May-June: Report
While pan India, there was a decline of 25 per cent and 15 per cent respectively in May and June this year, totalling to 4.37 crore cases. It was 5.87 crore cases in 2019 in the same month
 "Liquor sales fall 60% in states with high Corona cess in May-June: Report")
Shift to market economy from nationalised causing RBI-govt rift: Acharya
Acharya, who resigned after run-ins with the government last year, said the dip in financial savings is also another reason which can explain the disagreements between Mint Road and North Block
 "Shift to market economy from nationalised causing RBI-govt rift: Acharya")
RBI's MPC to meet next week to decide on policies for reviving growth
The MPC, headed by RBI Governor, is scheduled to meet for three days beginning August 4 and announce its decision on August 6
 "RBI's MPC to meet next week to decide on policies for reviving growth")
Bengal takes Rs 1,022-cr transition loan from Centre to help power discoms
The loan is part of the central government's Rs 90,000-crore 'Atmanirbhar Bharat Abhiyan' package to assist stressed distribution companies
 "Bengal takes Rs 1,022-cr transition loan from Centre to help power discoms")
India's June crude oil imports lowest in over 5 yrs; exports fall
Fuel demand in India, the world's third-biggest oil importer and consumer, fell 7.8% in June
 "India's June crude oil imports lowest in over 5 yrs; exports fall")
FPIs net buyers for second consecutive month in Jul; invest Rs 3,301 cr
According to the depositories data, a net sum of Rs 7,563 crore was invested in equities while Rs 4,262 crore were withdrawn by FPIs between July 1-31
 "FPIs net buyers for second consecutive month in Jul; invest Rs 3,301 cr")
Odisha registers over 13% growth in SGST collection in July to Rs 794 crore
The negative growth rates of the SGST collection were recorded in April, May and June this year
 "Odisha registers over 13% growth in SGST collection in July to Rs 794 crore")
Barren land along UP expressways to be developed as industrial plots
Chief Minister Adityanath has called for setting up townships within a radius of two km on either side of three key expressways
 "Barren land along UP expressways to be developed as industrial plots")
Export order books improving, but labour shortage still an issue: Exporters
Exporters associations say orders are coming but there is a problem in boosting production as workers stay away in coronavirus pandemic
 "Export order books improving, but labour shortage still an issue: Exporters")
Compute tax demand for all assessees by August 31, says CBDT chief
Many taxpayers are waiting to file applications under 'Vivad Se Vishwas' scheme, but they are also waiting for correct demand to be intimated to them, says P C Mody
 "Compute tax demand for all assessees by August 31, says CBDT chief")
Discoms' outstanding dues to power gencos rise 47% to Rs 1.33 trn in June
Distribution companies (discoms) owed a total of Rs 90,655 crore to power generation firms in June 2019
Individuals to benefit as govt eases eligibility criteria for MSME credit
The Centre has also decided to include personal loans for business purposes under the scheme
 "Individuals to benefit as govt eases eligibility criteria for MSME credit")
Good monsoon has led to more acreage under cultivation: Agri ministry
The area planted with rice, the main food crop of the world's second-most populous country, was 26.7 million hectares, compared with 22.4 million hectares in the year-earlier period
 "Good monsoon has led to more acreage under cultivation: Agri ministry")
Govt widens ambit of Rs 3 trn MSME credit scheme, doubles upper loan limit
The maximum amount of guaranteed emergency credit line (GECL) funding under the scheme would also correspondingly increase from Rs 5 crore at present to Rs 10 crore
Covid-19 impact: July GST collections down 14.6% YoY to Rs 87,422 cr
GST collections in July were 4 per cent lower than June 2020 as well
 "Covid-19 impact: July GST collections down 14.6% YoY to Rs 87,422 cr")
Govt allows export of indigenous ventilators as Covid fatality rate drops
As on July 31, only 0.22 per cent of the active cases were on ventilators across the country
 "Govt allows export of indigenous ventilators as Covid fatality rate drops")
July GST collection tumbles 14% to Rs 87,422 cr as Covid-19 hits economy
The July collections, which is 84 per cent of last year's numbers, is however, a recovery from the months of April and May
GST Council to discuss legal opinion of AG on compensation: Sitharaman
Tthe Attorney General has opined that there is no obligation on the central government to pay the GST compensation shortfall to the states
 "GST Council to discuss legal opinion of AG on compensation: Sitharaman")
Govt to come out with list of strategic sectors soon: FM Sitharaman
She said there could be various models to achieve minimum four PSUs in case of those falling under the strategic sector
 "Govt to come out with list of strategic sectors soon: FM Sitharaman")