Page 1807 - Economy & Policy News

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

No better time to bet on India than now, says billionaire Gautam Adani

India's economic growth slipped to 4.2 per cent in 2019-20 fiscal (April 2019 to March 2020) -- its slowest pace in more than a decade

Trade blocks against China spell opportunity for Indian footwear sector

The silver lining, however, is that if the industry checks certain boxes it could over time tap the export vacuum China will leave behind

Industry says India has surplus face masks, urges govt to allow exports

With manufacturers ramping up production of face masks since the outbreak of Covid-19, India has turned into a surplus nation choking production lines

Why most businesses, startups trying to register as MSMEs may not get loans

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

Experts question provisions of Centre's three agri market reform ordinances

Lack of mandatory written contracts, provision to invoke controlling powers among many bones of contention

Lockdown impact: Bank credit growth plunges 50% in fortnight to May 22

Banks had surplus liquidity of Rs 4.5 trn in the period

'STPI efforts paid off': IT exports zoom to Rs 4.21 trn in 2019-20

STPI Director General Omkar Rai said that it is setting up more than 21 domain-centric Centres of Excellence in a collaborative manner across India

Covid-19 opportunity for India to speed up Ayushman Bharat, says WHO chief

After India, Pakistan is the worst affected in South Asia with 89,249 Covid-19 cases, and 1,935 fatalities

Nisarga cyclone: Maharashtra to compensate farmers for crop losses

State govt is currently assessing losses, will announce package after a few days

Industry lauds as India's draft rules for drones enter official gazette

Drone firms say the step may encourage an entire supply chain based on these machines, urges faster implementation of the process

Covid-19 crisis: No new scheme for a year as govt tightens purse strings

New schemes, up to Rs 500 crore, which have already been appraised by the departments and ministries, would also be suspended in the current financial year.