Page 1806 - Economy & Policy News

Statsguru: FDI inflows revive in FY20, but face Covid-19 test in FY21

Not only the FDI at $49.9 billion was record high witnessed by India so far, it also recorded growth after 1% fall in the previous year

Varying beneficial ownership caps muddy waters for FDI investments

Ambiguity on whether investment falls under automatic route or requires govt approval

Covid-19 crisis: Unlock 1.0 to revive fuel sales soon, says Indian Oil

Fuel sales had dropped in April after Prime Minister Narendra Modi announced a nationwide lockdown to control the spread of Covid-19 infections

Demand set to reach pre-Covid levels by Q3 or Q4 in some sectors

In others, it's too early to predict; while in some, once pent-up demand has been satisfied, it could fall again

Rail freight traffic drops 28% in April-May amid Covid-19 lockdown

Among the commodities, coal was the worst-hit, with the sector contributing 60% to the total decline

PSBs disburse half of the sanctioned credit guarantee scheme loans

State Bank of India contributed to 75% of the total loan disbursements of Rs 8,320 crore till June 5

Petrol, diesel price hiked by 60 paisa per litre after 83-day hiatus

The government on May 6 again raised excise duties by Rs 10 per litre on petrol and Rs 13 per litre on diesel

Gross direct tax collection declines 4.92% to Rs 12.33 trn in FY20

However, the gross collections would have clocked a 8 per cent growth to Rs 14.01 trillion in 2019-20 if revenue foregone in corporate tax and Personal Income Tax (PIT) is taken into account

Centre considering extending cash support schemes for poor beyond June

These include cash assistance of Rs 500 per month given to 200 million women with Pradhan Mantri Jan Dhan Yojana (PMJDY) bank accounts

Saving viable cos more important than liquidating unviable ones: IBBI chief

MS Sahoo backed the decision to bring in the IBC amendment ordinance to suspend triggering of corporate insolvency resolutions against cos for any default for at least six months, starting March 25

Firms rush to register as MSMEs, but most may not get loans: Officials

The government had last month announced loans worth Rs 3 trillion for an estimated 4.5 million MSMEs that are facing a liquidity crunch since last year

India's steel demand likely to fall by 18% in 2020, Worldsteel report

Although the downturn is led by consumer and service sectors, massive dislocations in spending, labour markets, and confidence are fuelling declines in steel-using sectors, the global body said

From arbitration award to power arrears, here're the key court orders

An international arbitration wound its way through four courts in India, and two times in the Supreme Court, lasting two decades before ending last week at the apex court

Govt changes public procurement rules, more preference to local suppliers

Companies with less than 20 per cent of domestic content in their goods or services will not able to participate in most of the government tenders and they are categorised as "non-local suppliers"

AAR order on Tiger Global to spur taxmen to asses entity location: Experts

The AAR, in its ruling, said the investment was routed through the Mauritius entity only to benefit from the India-Mauritius tax treaty while the 'head and brain' of the company was in the US

Unlock 1.0: UP targets to create 10 mn jobs for migrants, says Chief Secy

Adityanath issued directives to speed up big-ticket projects, including expressways, roads, canals, medical colleges, universities etc to employ migrants and other workers

BS-VI compliant vehicles to display green sticker with registration details

The order will come into force from October 1, 2020

Fall in direct tax collection on expected lines and temporary: CBDT

The CBDT said the assertion that in spite of the tax reforms, the investment has not been picking up is not correct and is without an appreciation of the reality of the business world

Govt plans to bring country's 'avoidable coal imports' to zero by 2023-24

Coal import dips 20% to 19 MT in May

Delhi govt lifts 'special corona fee' on liquor from June 10, raises VAT

The 'Special Corona Fee' was imposed last month on the Maximum Retail Price of liquor bottle as the government looked to earn additional revenue, hit badly due to the coronavirus lockdown