Page 1784 - Economy & Policy News
Covid-19: Shimla apple growers face labour crunch ahead of plucking season
Apple growers in Shimla say they are faced with a labour shortage ahead of the plucking season due to the Covid-19 pandemic and urged the government to provide respite to them.
 "Covid-19: Shimla apple growers face labour crunch ahead of plucking season")
21-day hike streak halted: Petrol price at Rs 80.38 a litre, diesel at Rs 80.40
The continuous surge in rates of petrol and diesel prices for 21 consecutive days came to a halt on Sunday with no increase in prices
 "21-day hike streak halted: Petrol price at Rs 80.38 a litre, diesel at Rs 80.40")
India first country to control locusts through drones: Agriculture ministry
The Union Ministry of Agriculture on Saturday said that India had become the first country to have controlled locusts by using drones
 "India first country to control locusts through drones: Agriculture ministry")
Relief for GST filers: From July, Nil GSTR-1 Form can be filed via SMS
In a major move towards GST taxpayers' facilitation, the government has decided to provide the facility of SMS filing of NIL statement of Form GSTR-1 from the first week of July
 "Relief for GST filers: From July, Nil GSTR-1 Form can be filed via SMS")
Govt approves additional Rs 1,691 cr for highway works in J&K, Uttarakhand
A total of Rs 340 crore ceiling has been approved for Uttarakhand for national highways, according to the communication dated June 24
 "Govt approves additional Rs 1,691 cr for highway works in J&K, Uttarakhand")
Need for a new template of globalisation in the post-Covid world: MoS MEA
There will be need of a new template of globalisation - based on fairness, equality and humanity - in the post-Covid world, Minister of State for External Affairs V Muraleedharan has said
 "Need for a new template of globalisation in the post-Covid world: MoS MEA")
Discoms' outstanding dues to power gencos rise 63% to Rs 1.23 trn in April
Power producers give 60 days to discoms for paying bills for the supply of electricity. After that, outstanding dues become overdue and generators charge penal interest on that in most cases
 "Discoms' outstanding dues to power gencos rise 63% to Rs 1.23 trn in April")
Govt, companies, workers should work together to spur growth: Trade Unions
Indian National Trade Union Congress (INTUC) president Dr G Sanjeeva Reddy stressed on the need to consider workers as social partners
 "Govt, companies, workers should work together to spur growth: Trade Unions")
India among top 3 nations getting Swiss info on bank accounts: Group
India rated as 'largely compliant' on transparency and exchange of information for tax purposes.
 "India among top 3 nations getting Swiss info on bank accounts: Group")
Unlock 1.0: After 3-month selling streak, FPIs invest Rs 21,235 cr in June
Earlier, foreign investors remained net sellers for three consecutive months. They pulled out a net Rs 7,366 crore in May, Rs 15,403 crore in April and a record Rs 1.1 trillion in March
 "Unlock 1.0: After 3-month selling streak, FPIs invest Rs 21,235 cr in June")
Oil companies pause after hiking petrol, diesel prices for 21 days straight
On June 27, price of petrol was increased by Rs 0.25 per litre while that of diesel by Rs 0.21 per litre. Rates differ from state to state, depending on value-added tax (VAT)
'NIL' return filers can file sales statement GSTR-1 via SMS from July 1
Taxpayers willing to file GSTR-1 have to send SMS to 14409 to initiate the SMS facility
Coalmine auction an opportunity for domestic sponge iron units: Analysts
Sponge iron plants could shift to new technology on availability of coal
 "Coalmine auction an opportunity for domestic sponge iron units: Analysts")
SBI sanctions Rs 20,000 cr loans to MSMEs under credit guarantee scheme
SBI's SME loan portfolio shrunk by 7.27 per cent to Rs 2.67 trillion in March 2020 from Rs 2.88 trillion in March 2019
 "SBI sanctions Rs 20,000 cr loans to MSMEs under credit guarantee scheme")
RBI extends enhanced borrowing limit to banks under MSF till Sept 30
Banks may continue to access overnight funds under the MSF against their excess SLR holding
 "RBI extends enhanced borrowing limit to banks under MSF till Sept 30")
Income tax exemptions to lower tax assessee for certain allowances
The Budget for 2020-21 came out with an option of lower tax regime for those who forgo certain exemptions
 "Income tax exemptions to lower tax assessee for certain allowances")
Covid-19 may lift India's e-commerce market to around $85 billion by 2024
The market opportunities for online commerce in the country are expected to touch $200 billion by 2028 from $30 billion in 2018
 "Covid-19 may lift India's e-commerce market to around $85 billion by 2024")
RBI can frame revival plan for all banks without imposing moratorium
The RBI has to impose restrictions on lending and withdrawal activities before it can frame a revival scheme for commercial and co-operative banks, according to the previous law
 "RBI can frame revival plan for all banks without imposing moratorium")
Digital economy, adoption of tech will help achieve $5-trn economy: Goyal
He also stressed the role of productivity in the transformation of any organisation
 "Digital economy, adoption of tech will help achieve $5-trn economy: Goyal")
Gadkari asks govt to allow export as PPE production hits 800K units a day
The recommendations from the report Improving Economic Dynamism and Accelerating MSME Growth are likely to help MSMEs 'Survive, Revive, Thrive and Sustain'
 "Gadkari asks govt to allow export as PPE production hits 800K units a day")