Page 1799 - Economy & Policy News
Revenue and compensation on table at GST Council meeting on Friday
The government has rung up just about Rs 95,000 crore as GST in April and May together, and that is less than half compared with the collection in the corresponding months last year.
 "Revenue and compensation on table at GST Council meeting on Friday")
PM Modi urges India Inc to shed conservative approach, take bold decisions
Speaking at the 95th Plenary session of Indian Chamber of Commerce, Modi stressed that the Covid-19 situation needs to be turned into an opportunity and the country needs to become self-reliant
 "PM Modi urges India Inc to shed conservative approach, take bold decisions")
Economy in safe hands; worry not, Mr Guha, says Nirmala Sitharaman
Gujarat Chief Minister Vijay Rupani also responded to Guha's tweet saying that Indians would not fall for "tricks" of dividing them
 "Economy in safe hands; worry not, Mr Guha, says Nirmala Sitharaman")
Hotels, travel brands pitch for a rebound as Covid-19 lockdown eases
As lockdown eases, ITC, Taj Hotels, Oyo, MakeMyTrip play up the safety line, bank on employee endorsements to rebuild trust in their brands
 "Hotels, travel brands pitch for a rebound as Covid-19 lockdown eases")
A new bad bank won't help unless existing problems are sorted: CEA
Krishnamurthy Subramanian also says India's sovereign rating being maintained and stable outlook by S&P is good news, considering India wants to list its sovereign bonds on global indices
 "A new bad bank won't help unless existing problems are sorted: CEA")
Foreign investment in food processing up 44% to $904 mn in 2019-20
The sector had received FDI worth $628.24 million in 2018-19
 "Foreign investment in food processing up 44% to $904 mn in 2019-20")
Big realtors to launch mid-level housing projects to improve cashflow
Mumbai-based Oberoi Realty for the first time is looking at launching a sub-Rs 1 crore apartment project in Thane, on the outskirts of Mumbai
 "Big realtors to launch mid-level housing projects to improve cashflow")
High chances of child labour increasing in aftermath of Covid-19: CRY
CRY organised an e-consultation to underscore how the Covid-19 pandemic will affect the situation of child and adolescent labour in India
 "High chances of child labour increasing in aftermath of Covid-19: CRY")
Tamil Nadu explores possibility of becoming a drone manufacturing hub
The State Development Policy Council has conducted a discussion on setting up of the corporation, to explore the possibilities of making the state a drone manufacturing hub
 "Tamil Nadu explores possibility of becoming a drone manufacturing hub")
Strong balance sheets may help maintain car makers credit quality: Crisil
As one of the many fallouts of the coronavirus pandemic on automobile industry, pre-owned vehicles and new small PVs may find increased preference in FY21
 "Strong balance sheets may help maintain car makers credit quality: Crisil")
Railways planning to scale up MGNREGA employment for migrant workers
The Railways has asked Zones to prepare a list of labourers against the kind of work they can be involved in
 "Railways planning to scale up MGNREGA employment for migrant workers")
ITC refund will be allowed for certain supplies even without invoice: CBIC
GSTR-2A is a purchase return auto-generated by the GST system based on the transaction between a business and its supplier.
 "ITC refund will be allowed for certain supplies even without invoice: CBIC")
EPFO to use common service centres for life certification of pensioners
EPS pensioners are required to submit their life certificates each year to continue to draw pension
 "EPFO to use common service centres for life certification of pensioners")
India's economic fundamentals demand a much better rating: CEA Subramanian
India's ability and willingness to repay debt is gold standard, he said making a case for ratings upgrade
 "India's economic fundamentals demand a much better rating: CEA Subramanian")
RBI Guv meets heads of rating agencies, seeks assessment of Indian economy
During the meeting, among other matters, agencies' assessment of the macroeconomic situation and outlook on various sectors, including the financial sector, was discussed.
 "RBI Guv meets heads of rating agencies, seeks assessment of Indian economy")
One-time cash transfer, food ration for 3 months can help migrants: Report
Factory and establishment survey is critical to assess employment conditions in organised as well as unorganised sectors, the report said
 "One-time cash transfer, food ration for 3 months can help migrants: Report")
GST Council may discuss ways to gather funds for states' compensation
Faced with dismal collection and extended deadline for filing returns, the government has refrained from releasing the monthly GST revenue collection figures for the months of April and May
 "GST Council may discuss ways to gather funds for states' compensation")
MSP for agri crops too high compared to global, market price: Nitin Gadkari
The government provided Rs 6,000 crore subsidy to export 6 million tonnes of sugar as the country is surplus in the sweetener, Gadkari said
 "MSP for agri crops too high compared to global, market price: Nitin Gadkari")
India's handset industry can reach $100 billion in exports by 2025: ICEA-EY
Nearly 198 countries import mobile phones, and till recently, only two countries -- China and Vietnam -- were among the exporters.
 "India's handset industry can reach $100 billion in exports by 2025: ICEA-EY")
Digital booking, fitness certificate a new norm as travel bodies issue SOPs
No clarity yet on when countries will open borders for Indian tourists. On the domestic side, most of travel happening now is of essential and emergency nature
 "Digital booking, fitness certificate a new norm as travel bodies issue SOPs")