Page 1865 - Economy & Policy News

Wheat procurement picks up amid complaints of mismanagement in some mandis

Shortage of jute bags, 100-trolley rule among several issues farmers, who are being forced to stand in long queues, awaiting their turn to sell

Tamil Nadu govt suspends earned leave encashment, freezes DA till july 2021

Officials say the move will help the govt save over Rs 7,000 crore at a time when Covid-19 has hit its finances

Aluminium firms seek tariff, non-tariff support fearing sluggish demand

India's aluminium consumption is tipped to reduce by 1.5-2 million tonnes in FY21 as the pandemic has considerably weakened demand from consuming industries

Lockdown will dent road contractors' sales, margins: CRISIL SME Tracker

Construction was gathering pace after a protracted monsoon when the pandemic halted all activity

Lockdown controlled Covid-19, time to give economy importance: PM Modi

The prime minister interacted with chief ministers as in a video conference and highlighted the importance for states to enforce prescribed guidelines strictly in the hotspots

Chidambaram lauds RBI's liquidity facility of Rs 50,000 cr for mutual funds

The Reserve Bank of India on Monday announced a Rs 50,000 crore special liquidity facility for mutual funds, days after Franklin Templeton Mutual Fund decided to close six debt schemes

It's time to convert 'hatred' for China into economic opportunity: Gadkari

Interacting with overseas Indian students via video conferencing, Gadkari said, "All the world now, they have hatred for China. Is it possible for us to convert it into an opportunity for India."

Top biz headlines: Franklin Templeton fiasco, lockdown impact and more

Here are the top 10 headlines on Monday

Covid-19 impact: Paytm Mall plans to partner with over 10,000 small shops

Currently, Paytm Mall is working with all leading logistics players including GATI, Ecom Express, Delhivery, Bluedart, FedEx

IRS officers for super-rich tax hike amid coronavirus outbreak; govt riled

The committee has argued the 'super-rich' have a higher obligation towards ensuring public good and recommended either raising income-tax rate for the highest slab or re-introducing wealth tax

Housing prices up 9% in one year across 9 cities despite demand slowdown

According to the data, Hyderabad saw the maximum increase of 9 per cent in basic selling price to Rs 5,434 per sq ft

Covid-19 relief: CBDT starts inquiry on IRS officers for unsolicited report

In a statement, the CBDT, which is the apex policy making body for direct tax policies, said it has never asked IRS Association or these officers to prepare such a report

Statsguru: Why crude oil went berserk last week and is it just a blip?

Oil traded at a negative price on a one-month West Texas Intermediate futures contract, but it didn't for successive months' futures contracts

NBFCs' foreign lenders face repayment risks as US dollar becomes stronger

Covid has caused disruption in the domestic and global markets, enhancing the risk of default from the rise in cost of repayments due to upheavals in the currency markets

Finance Ministry likely to present new GDP, budgetary targets by July

FinMin has internal estimates for economic growth, but these are subject to revisions

Coronavirus and the ripple effects of force majeure on contracts globally

In India, the onus lies with the government to bring clarity in the use of the clause for the lockdown period, say experts

Force majeure to ban on transport of minerals, here're the key court orders

Legal consequences of the coronavirus-triggered lockdown have apparently been dealt with differently by high courts, and the Supreme Court is yet to grapple with them in an appeal

Coronavirus impact: Status quo on shopping a day after govt eases curbs

Many seek clarity as to what constitutes non-essential retail

Prolonged lockdown may push millions into margins of subsistence: Subbarao

"Last year's growth was five per cent. Just imagine, five per cent growth last year and we are going to negative or zero growth this year, a decline of five per cent growth," he said

Covid-19: Taxmen suggest 40% tax on super-rich, higher levy on foreign cos

The suggestions are part of a paper titled 'Force', which stands for 'Fiscal Options & Response to the COVID-19 Epidemic'