Page 1909 - Economy & Policy News

GST Council likely to defer simplified returns over glitches in system

Officials say that Finance Minister Nirmala Sitharaman in an outreach with taxpayers was disappointed to hear complaints about GST Network platform

Coronavirus: Exporters seek duty reduction, logistics support from Centre

Meanwhile, Irdai was asked to review existing insurance products to ensure risk cover against loss because of abnormal delay in delivery of shipments

BSNL, SBI partner to launch UPI-based payment platform Bharat InstaPay

According to BSNL officials, the new payment facility developed by the company will enable its partners, especially prepaid sellers, to buy service immediately for sale

Coronavirus outbreak: Retail market could be set back by at least a quarter

Companies expect recovery by the second quarter of FY21

Coronavirus fear reduces inbound international air travel to India by 30%

Besides the international travel, the domestic air traffic numbers have also come down as people have been flying only in essential circumstances

Impact of coronavirus outbreak a mixed experience for India's exporters

Sectors like garments receive fresh orders, while pharma and diamonds see a dip

End of exclusivity period will ensure fair play in gas pipeline business

The PNGRB is now taking careful ste­ps to draft regulations on how to end the exclusivity and the subsequent issues of tariff and sharing of the existing infrastructure

Retail inflation falls to 6.58% in February as food prices cool down

The latest numbers could increase the clamour for a rate cut by RBI's Monetary Policy Committee in its next meeting in April

Rupee sinks to fresh 17-month low over coronavirus, recession fears

Indian equity markets suffering their worst single-day losses and stock indices slipping into bear territory also hit the rupee sentiment

Cabinet may approve scheme for exporters to reimburse levies on Friday

Finance Minister Nirmala Sitharaman had announced about the scheme for remission of duties and taxes on export products (RoDTEP) in her Budget speech on February 1

Parliamentary panel pulls up planning ministry for not using funds fully

The Standing Committee on Finance, headed by Jayant Sinha, in a report noted that a scrutiny of the budget of the Ministry of Planning reveals under-utilisation of funds in important areas.

India's current account deficit narrows to $1.4 bn in December quarter

The CAD is a critical indicator of the macroeconomic health and represents the gap between the overall foreign exchange expended and received in the economy.

Merged public sector banks will ensure no disruption to credit flow: FinMin

The merger would result in creation of seven large PSBs with scale and national reach, with each amalgamated entity having business of over Rs 8 trillion

UP has got industrial investments worth Rs 3 trillion since 2017: CM

State to promote 30,000 startups under flagship 'Yuva Hub' scheme

January IIP at 2%; February CPI at 6.58% Vs 7.59% in previous month

Retail inflation slowed to 6.58 per cent in February over the previous month mainly due to easing food prices

Just 10% of defaulted loans in non-major cos recovered under IBC: Ramesh

The first objective of the IBC was to save companies but with a mortality rate of 80 per cent it is not life saving, said Jairam Ramesh

Investor worries over corporate credit heat up as coronavirus spreads

Investors are growing increasingly concerned that the coronavirus outbreak will hit US corporate cash flow if it keeps workers at home or prevents companies from paying employees

There was enough time to put together plan for YES Bank: Raghuram Rajan

Crisis-ridden Yes Bank was put under a moratorium last week, with the RBI capping withdrawals at Rs 50,000 per account and superseding its board.

FinMin flags 17 'areas of dissatisfaction' with Infosys-designed GSTN

Infosys, which in 2015 won the contract for managing backend for GST Network (GSTN), has drawn flak from the ministry over the tech glitches, some of them have been unresolved for almost two years.

Gujarat HC issues notices to Centre, GST Council over surcharge imposition

The cess and the surcharge are imposed at the time of imports, where duties are paid through the Merchandise Exports from India Scheme (MEIS) scrips.