Page 1776 - Economy & Policy News
Modi govt bans power gear imports from China amid border stand-off
The electric equipment industry, in its representation to the ministry, had earlier flagged the threat of cyberattacks by China
 "Modi govt bans power gear imports from China amid border stand-off")
40% Indian consumers getting supplies delivered via e-commerce, local shops
If this consumer behaviour continues, malls and traditional retailers that rely for sales primarily on store visits will have to change their models and value proposition to cater to this new model.
 "40% Indian consumers getting supplies delivered via e-commerce, local shops")
Power producers seek more time to install emission controlling equipment
An association of power producers has sought more time to install emission controlling equipment at their plants, saying various issues, including COVID-19 followed by supply disruptions from China, have posed challenges in meeting the December 2022 deadline.
 "Power producers seek more time to install emission controlling equipment")
India's power companies face cash crunch after PFC rating cut to junk
Electricity projects, already reeling under precarious finances, could see borrowing costs soar if Power Finance isn't able to access the dollar bond market or raises funds overseas
 "India's power companies face cash crunch after PFC rating cut to junk")
Atmanirbhar loan may touch Rs 1.25 trillion: Power minister R K Singh
The special loan is aimed at clearing dues of discoms towards Centre-owned and private power generation units.
 "Atmanirbhar loan may touch Rs 1.25 trillion: Power minister R K Singh")
Oppn-ruled states oppose Electricity Bill changes, fear increase in rates
The meet, held via video conference between power ministers/departments of states and the Union ministry of power, saw Bihar, Rajasthan, West Bengal, Odisha and Kerala protesting against amendments
 "Oppn-ruled states oppose Electricity Bill changes, fear increase in rates")
International flights suspended till July 31; may exempt some routes: DGCA
Air India and other private domestic airlines have been operating unscheduled international repatriation flights under the Vande Bharat Mission
 "International flights suspended till July 31; may exempt some routes: DGCA")
Covid won't deter us from path of speedy GST reforms: Ajay Bhushan Pandey
While not affirming new timelines for the simplified returns forms, Pandey says invoice matching is already happening at the back-end and quarterly payments are allowed for small taxpayers.
 "Covid won't deter us from path of speedy GST reforms: Ajay Bhushan Pandey")
Covid-19: Rajasthan distributes maximum free grain to returning migrants
Other big migrant population states, Uttar Pradesh, Bihar, Odisha and Jharkhand fare poorly
 "Covid-19: Rajasthan distributes maximum free grain to returning migrants")
Govt aims to embrace 32 mn construction hands not yet covered under PMGKY
Only 18 million workers out of 50 million got cash transfer in their bank accounts under the Pradhan Mantri Garib Kalyan Yojana
 "Govt aims to embrace 32 mn construction hands not yet covered under PMGKY")
Govt caps late fee at Rs 500 for GST returns filed before Sept 30
Even those with nil liabilities had huge late fee outstanding under previous provisions; in their case it has been made zero now
 "Govt caps late fee at Rs 500 for GST returns filed before Sept 30")
Banks disburse over Rs 52,255 crore to MSMEs under credit scheme
However, this is against the sanction of Rs 1.10 trillion under the 100 per cent ECLGS for micro, small and medium enterprises (MSMEs) till July 1.
 "Banks disburse over Rs 52,255 crore to MSMEs under credit scheme")
Govt to focus on strategic stake sales to meet Rs 2.1 trn disinvestment
Dipam secretary pointed out there have been hiccups due to Covid-19
 "Govt to focus on strategic stake sales to meet Rs 2.1 trn disinvestment")
Covid-19 impact: Direct tax refunds down 16% to Rs 64,428 crore in Q1
Corporation tax refunds stood at Rs 40,482 crore, while income tax refunds stood at Rs 23,828 crore in Q1FY21.
 "Covid-19 impact: Direct tax refunds down 16% to Rs 64,428 crore in Q1")
June services activity shrinks for fourth month in a row; PMI at 33.7
Services sector remains in deep downturn as job losses continue
 "June services activity shrinks for fourth month in a row; PMI at 33.7")
E-comm firms to meet govt over mentioning 'country of origin' on July 8
A company source has stated there was no disconnect with the idea, but the firms have to check with their technology teams to figure out how long it will take to get this done
 "E-comm firms to meet govt over mentioning 'country of origin' on July 8")
Borrowings by states double to Rs 1.7 trn in Q1FY21 over Covid-19: Icra
"Icra estimates the net SDL (state development loans) issuance in Q1 FY2021 to have expanded by a sharp 135.6 per cent to Rs 1.4 trillion from Rs 0.6 trillion in Q1 FY2020," it said
Vendors to get interest for delayed payments on govt e-marketplace
Move taken to ensure timely payments particularly to MSMEs; buyer will have to pay interest at the rate of 1% a month
 "Vendors to get interest for delayed payments on govt e-marketplace")
Draft of industrial policy to be tabled in 10 days: Karnataka Minister
Shettar said the draft industrial policy would focus on developing industries in the second and third tier cities of the state
 "Draft of industrial policy to be tabled in 10 days: Karnataka Minister")
RITES renews pact with Coal India for rail infra business, other projects
The MoU has been renewed for five years
 "RITES renews pact with Coal India for rail infra business, other projects")