Page 1850 - Economy & Policy News

Govt hikes borrowing limit by over 50% to Rs 12 trn as virus grips economy

Sources say the Centre has asked RBI to do whatever to keep yields in check, which may result in massive secondary market bond purchases

India's credit profile to face further pressure due to Covid-19: Moody's

Moody's rating on the government of India is Baa2 with negative outlook

Franklin Templeton issues apology to Sebi for global chief's remarks

Stung by the comments made by the global chief, market regulator on Thursday issued a press release defending the new rules it introduced in October last year

Sitharaman launches two exchanges to take on offshore currency market

The launch comes amid the world's most expansive coronavirus lockdown, which has crippled businesses and hurt trading volumes in the country's financial markets.

Gujarat eases labour laws, offers land to firms shifting base from China

The state government also offered land and infrastructure for companies and projects that were looking to shift base from China to other destinations

Lockdown period not to be counted for determining residency of NRIs: CBDT

There were apprehensions that this extended stay could lead to these individuals becoming Indian residents as per Section 6 of the Income Tax Act

HC orders closure of Liquor shops in Tamil Nadu, allows online sales

The opening of shops in districts, except Chennai on May 7, has resulted in people thronging the outlets without maintaining social distancing norms

Govt must work to revive consumption, not worry about rating: Rahul Gandhi

Congress wants lockdown lifted across country on May 18, save hotspots; Gandhi urges Centre to make citizens 'psychologically' prepared to for lockdown exit

Govt hikes market borrowing limit by over 50% to Rs 12 trillion

The government resorts to market borrowing to make up for the mismatch between its revenue and expenditure.

Amarinder Singh asks administration to ensure welfare of migrant workers

The chief minister asked the industry ministry to "aggressively" pursue the development of the four industrial parks already announced by the state government in the budget for this fiscal.

Moody's pegs FY21 GDP growth at 0%, says upgrade unlikely in near term

The rapid and widening spread of the Covid-19, deteriorating global economic outlook, falling oil prices, and financial market turmoil are creating a severe and extensive economic and financial shock

Only 13% of industrial units resume ops after Odisha eases lockdown

Micro units in the state have not been able to resume operations to catch up with their larger peers

US Federal Reserve won't take rates negative, say fund managers, economists

Fed funds futures, which are a gauge of where markets expect the Fed's benchmark overnight lending rate to be, are now pricing in a slightly negative rate environment beginning in December

Uttarakhand hikes prices of fuel, alcohol to boost revenue amid lockdown

The price of Indian-made foreign liquor (IMFL) has been increased to Rs 20-Rs 200 per bottle, imported liquor by Rs 475 per litre and country-made liquor

AIIB extends $500 mn loan to India to deal with coronavirus crisis

The bank's board of directors has approved a loan to India to strengthen the preparedness of the country's national health system

Central Board of Direct Taxes amends Rule 44G of Income-tax Rules 1962

It also states that if a resolution is arrived, the same shall be communicated to the assessee, who shall communicate his acceptance or non-acceptance within 30 days

Top Biz Headlines: SBI's revival plan, increase in currency in circulation

Here are the top ten business headlines on Friday morning

Cloud over online AGM for banks as they don't fall under Companies Act

MCA notification doesn't include banks as they are governed by separate Act; sources say separate guidelines may have to be issued for them

Lockdown 3.0: Rural India may drive demand recovery amid Covid-19 crisis

Top executives at auto, tractor and consumer packaged goods firms are optimistic. They are betting on the reverse migration of labourers boosting consumption and prediction of a favourable monsoon.

CBDT amends rule for speedy resolution of tax disputes under treaties

Change in rule 44G of MAP calls for mutually resolution of tax disputes as agreement between India and the other nation, within 24 months