Page 1789 - Economy & Policy News
Can GST Council borrow from market as compensation cess collections fall?
Since there is no precedent for a constitutional body to borrow, an alternative which has been discussed is for the Centre to borrow with the specific intention of making up the compensation shortfall
 "Can GST Council borrow from market as compensation cess collections fall?")
Is the spot market mechanism the panacaea for the slack in energy sector?
While benefits in supply and pricing are likely to accrue to the consumer with the activation of energy exchanges, certain grey areas need to be addressed
 "Is the spot market mechanism the panacaea for the slack in energy sector?")
Gadkari launches credit guarantee scheme worth Rs 20,000 cr for MSMEs
The scheme seeks to extend support to the promoters of the operational MSMEs that are stressed and have become NPAs as on April 30, 2020
 "Gadkari launches credit guarantee scheme worth Rs 20,000 cr for MSMEs")
Exporters to submit origin certificates for shipments to Asean countries
The document is important to claim duty concessions under free trade agreements. This certificate is essential to prove the origin of the goods
 "Exporters to submit origin certificates for shipments to Asean countries")
India's May oil imports hit lowest since 2011 over drop in demand: Report
In May, India imported 3.18 million barrels per day (bpd) of oil, a decline of about 31% from April and about 26% from a year ago, the data showed
 "India's May oil imports hit lowest since 2011 over drop in demand: Report")
Corporate Affairs Ministry allows virtual board meetings till September
The relaxation comes amid the coronavirus pandemic. Initially, the ministry had allowed companies to hold board meetings through video conferences till June 30
 "Corporate Affairs Ministry allows virtual board meetings till September")
Govt wants 'origin of products' displayed, calls e-commerce firms for meet
This follows the Government e-Marketplace (GeM) platform making it mandatory for its listed sellers to specify the country of origin while registering all new products on the portal
 "Govt wants 'origin of products' displayed, calls e-commerce firms for meet")
Kitchen appliance firms see resurgence in demand from stressed households
They say kitchen improvement is likely to be a top priority in Indian homes; customers may also go for local products instead of Chinese-made ones
 "Kitchen appliance firms see resurgence in demand from stressed households")
Q4 GDP figures overstated? Economists raise doubts over quality of data
Data released on November 29, 2019 showed that GDP grew 5 per cent in the first quarter and 4.5 per cent in the second quarter of FY20
 "Q4 GDP figures overstated? Economists raise doubts over quality of data")
India may see 7.3% contraction if coronavirus strikes again: OECD
If it doesn't, the grouping of advanced countries in its twice-yearly publication-OECD Economic Outlook-- said that it expected India's economy to contract 3.7 per cent during the year.
 "India may see 7.3% contraction if coronavirus strikes again: OECD")
Downgrade of India's sovereign rating by Moody's not surprising: SBI report
India's sovereign rating was downgraded by Moody's to Baa3 with a negative outlook on the pretext of prolonged period of slower growth, rising debt and stress in financial system.
 "Downgrade of India's sovereign rating by Moody's not surprising: SBI report")
India's tax-GDP ratio plunges to 9.88% in FY20, lowest in 10 years
While the ratio determines the extent to which the government is able to finance its expenditure, it is also an indicator of tax compliance
Economy in Modi 2.0: A year best forgotten as things turn bad to worse
Even before the lockdown, the economy was on the downhill despite the Centre announcing huge corporation tax cuts
 "Economy in Modi 2.0: A year best forgotten as things turn bad to worse")
Power Ministry joins 'Make in India' pitch, calls for curbs on imports
Customs duty on Chinese solar gears, low cost finance to those using Indian goods
 "Power Ministry joins 'Make in India' pitch, calls for curbs on imports")
Over 16,000 new firms registered since lockdown, 3,200 in April alone
While the numbers have dropped by over a half compared to last year, experts still consider this positive news given the economic climate around the world
 "Over 16,000 new firms registered since lockdown, 3,200 in April alone")
Diamond industry may extend voluntary ban on imports beyond June
The discontinuance of imports was aimed at stabilising prices, a motive that the industry seems to be achieving now
 "Diamond industry may extend voluntary ban on imports beyond June")
Chinese shipments await Customs clearance amid border standoff with India
Getting shipments from China may only get tougher going forward, industry fears.
 "Chinese shipments await Customs clearance amid border standoff with India")
Hospitals rework Covid-19 narrative as pandemic takes toll on trust, biz
Trust is running low and the big chains, Max, Apollo, Fortis and others are keen to retune the pitch with new services
 "Hospitals rework Covid-19 narrative as pandemic takes toll on trust, biz")
India slaps anti-dumping duty on steel from China, Vietnam, Korea
The duty is applicable on products originating from or exported from China, Vietnam and Korea and imported into India
 "India slaps anti-dumping duty on steel from China, Vietnam, Korea")
Centre seeks suggestions from stakeholders on deferring BS-IV norms
The norms were scheduled to be implemented from October 1.
 "Centre seeks suggestions from stakeholders on deferring BS-IV norms")