Page 1749 - Economy & Policy News

IGST crackdown: Exporters cry foul; govt refutes allegations of harassment

Say they are being harassed by the authorities even as 1,500 who claimed bogus GST refunds are untraceable

India's second digital strike: 47 more Chinese mobile apps blocked

Clones or lite versions of 59 apps banned earlier, say sources

Less than 50% occupancy not viable, won't open: Theatre owners to govt

The government is preparing new guidelines for further relaxation of restrictions from August 1

Traffic, internet speed and essential shopping decline to May-end levels

Business Standard tracks these and other high frequency indicators to understand how the economy is doing as it deals with the Covid-19 pandemic

Centre releases Rs 1.65 trillion as GST compensation to states for FY20

Cess collection was at Rs 95,444 crore, surplus fund of previous years and unallocated IGST fund used

Realisation of export proceeds not mandatory for drawback on re-exports

A licence or duty credit scrip obtained through misrepresentation is voidable but not void till it is cancelled

India Inc's foreign borrowings slip 81% to $1.02 bn in June: RBI

The domestic companies had raised $5.40 billion from the overseas markets in June 2019

Govt to go ahead with divestment of 23 PSUs cleared by Cabinet: Sitharaman

Talking about disinvestment plans, the minister said the government wants to sell stakein public sector companies at a time when it fetches the right price

No decision taken to reintroduce the FRDI Bill, says Finance Ministry

The government had withdrawn the FRDI Bill in August 2018 for further comprehensive examination and reconsideration of the subject

Banks sanction about Rs 90,000 cr to 11 million Kisan Credit Card holders

As part of the Rs 20.97 trillion stimulus package, the government had announced Rs 2 trillion of concessional credit through KCC to 25 million farmers

FAITH revises upwards forecast on tourism value at risk at up to Rs 15 trn

For the survival of the sector, a FAITH spokesperson said, "The tourism sector requires a customised sector-specific relief package, and it cannot be delayed any further"

Mineral sector could be potential driver of high growth: CII to NITI Aayog

A recent study pegged the employment potential of the mining sector at over 4.8 million direct jobs by 2025

Increase in AI intensity by 1 unit can lead to 2.5% increase in GDP: ICRIER

Niti Aayog CEO Amitabh Kant, while releasing the report, said India is in the midst of a once-in-a-generation disruption driven by AI

V-shaped recovery in Q3, 4; negative GDP growth in FY21 overall: N K Singh

Singh said the economic expansion in 2022-23 would determine whether or not the initiatives to revive growth are sustainable

India hands over 10 broad-gauge diesel locomotives to Bangladesh

External Affairs Minister S Jaishankar flagged off the locomotives online in the presence of Railway Minister Piyush Goyal and several dignitaries from across the border

Govt issues scheme guidelines to boost drug manufacturing, medical devices

The objective is to make India self reliant in production of 53 critical Active Pharmaceutical Ingredients, and in production of medical devices, for which India is crucially dependent on imports

India to post current account surplus this fiscal, first since FY04: Report

After many quarters, the economy logged in a marginal current account surplus in June quarter at 0.1 per cent or $600 million as against a deficit of $4.6 billion or 0.7 per cent of GDP in FY19

Make the most of emerging shifts in economy, RBI's Das to industry captains

RBI governor favours a domestic free trade in agriculture, says policies undertaken by govt should be able to encourage private investment in supply chain infra

Reliance Industries leverages technology to expand farm-to-fork model

The goal is a 12-hour window for vegetables and fruits to move from the fields to the shelves

$6 bn capital raised by PSBS inadequate to safeguard against stress: Fitch

PSB divestment may trigger negative rating action