Page 1878 - Economy & Policy News
Govt sets up control room to address worker issues during Covid-19 lockdown
Labour ministry draws up list of 60 officers along with their e-mail IDs and contact numbers, to deal with distress calls from workers who are working under the 'central sphere'
 "Govt sets up control room to address worker issues during Covid-19 lockdown")
Modi asks states to alter mandi rules for direct delivery to reduce crowd
Agriculture is a state subject and the Central government has limited powers to ensure implementation of the guidelines
 "Modi asks states to alter mandi rules for direct delivery to reduce crowd")
You get 3 more months to deposit money in PPF, Sukanya Samriddhi Yojana
The deadline to make deposits in PPF and Sukanya Samriddhi Yojana for the financial year 2019-20 (FY20) has been extended till June 30 this year
 "You get 3 more months to deposit money in PPF, Sukanya Samriddhi Yojana")
EPFO puts in place mechanism to credit govt's share to EPF, EPS under PMGKY
The PMGKY package is aimed at preventing disruption in the employment of low wage-earning EPF members and extending support to the eligible EPF covered establishments.
 "EPFO puts in place mechanism to credit govt's share to EPF, EPS under PMGKY")
Disposal rate low as no infrastructure to conduct hearings online: CAT
With the imposition of the lockdown, it became impossible for the tribunal's benches to function as neither advocates nor CAT employees were in a position to attend work, it said.
 "Disposal rate low as no infrastructure to conduct hearings online: CAT")
India to export 90,000 tonnes of surplus wheat to Afghanistan, Lebanon
. According to the second government estimate, the country is set to harvest a record wheat production of 106.21 million tonne in the 2019-20 crop year on the back of good rains
 "India to export 90,000 tonnes of surplus wheat to Afghanistan, Lebanon")
NSO struggles to gather accurate inflation, industrial data during lockdown
Monthly price data is collected from 1,114 markets across 310 towns by the field operations division of the statistics ministry and the specified
 "NSO struggles to gather accurate inflation, industrial data during lockdown")
Coronavirus impact: Enough stock of hydroxychloroquine in India, says govt
Joint Secretary in the Ministry of Health Lav Agarwal said that India has a stock of 3.28 crore tablets of hydroxychloroquine, which is three times more than the projected requirement
 "Coronavirus impact: Enough stock of hydroxychloroquine in India, says govt")
Coronavirus: Tax dept gives fresh relief to companies on lower TDS
CBDT had recently extended the validity of certificates issued for lower TDS or TCS for three months - till June 30 this year
 "Coronavirus: Tax dept gives fresh relief to companies on lower TDS")
NPS subscribers can make partial withdrawal to cover coronavirus expenses
PFRDA declared Covid-19 as a critical illness which is life threatening in nature
 "NPS subscribers can make partial withdrawal to cover coronavirus expenses")
Cash cow to Achilles' heel: The transformation of consumer lending business
Weak demand and falling income to hit the segment
 "Cash cow to Achilles' heel: The transformation of consumer lending business")
ADB pledges $2.2 bn to bolster India's health infrastructure, MSMEs
The ADB president on Friday called Finance Minister Nirmala Sitharaman to discuss the issue and assured support to India in its fight against the coronavirus disease
 "ADB pledges $2.2 bn to bolster India's health infrastructure, MSMEs")
FPIs stare at higher withholding tax on dividends owing to tax treaty
While FPIs are also classified as non-residents, the withholding tax rates for these are provided under a separate section 196D of the Income Tax Act
 "FPIs stare at higher withholding tax on dividends owing to tax treaty")
Covid-19 impact: Centre set to prioritise road expansion over new projects
Government will issue guidelines that lay down criteria for restarting work
 "Covid-19 impact: Centre set to prioritise road expansion over new projects")
Foreign exchange reserves decline $902 million to $474 billion: RBI data
The gold reserve also declined by $340 million to $30.55 billion in the reporting week, the RBI data showed
 "Foreign exchange reserves decline $902 million to $474 billion: RBI data")
Covid-19 lockdown: Ficci urges easier norms for manufacturing to resume
Industry body wants package for labourers, protection against imports and military support for delivering essentials
 "Covid-19 lockdown: Ficci urges easier norms for manufacturing to resume")
Covid-19: Synthetic textile companies seek financial package to pay wages
The demand comes in the wake of closure of factories, wholesale and retail outlets due to the nationwide lockdown announced by the government on March 25
 "Covid-19: Synthetic textile companies seek financial package to pay wages")
Over 15 million jobs at stake unless package announced immediately: FIEO
Need interest free loans, limited opening of manufacturing units soon, the Federation of Indian Export Organisations said
 "Over 15 million jobs at stake unless package announced immediately: FIEO")
Capacity utilisation of FMCG firms at less than half over weak consumption
Capacity utilisation, they said, varied between 20 and 40 per cent at their units, hardly good news for a sector that was looking to recover from a general consumption slowdown
 "Capacity utilisation of FMCG firms at less than half over weak consumption")
Vegetable & fruit arrivals at mandis see sharp decline amid lockdown
In a report, Credit Suisse pegs decline at 50-95% YoY
 "Vegetable & fruit arrivals at mandis see sharp decline amid lockdown")