Page 1940 - Economy & Policy News
Lower duties for agri goods on cards as US confirms Donald Trump visit
US President to visit Ahmedabad and New Delhi starting Feb 24; both sides likely to sign trade deal
 "Lower duties for agri goods on cards as US confirms Donald Trump visit")
Simplifying regime to make tax harassment 'a thing of the past': Modi
Until now, a process-centric tax system was predominant in India, but now it was being made public-centric, the prime minister added
 "Simplifying regime to make tax harassment 'a thing of the past': Modi")
Trump's India visit: Officials rushing to create a trade agreement
A visit by Trump's right hand man for trade negotiations - United States Trade Representative Robert Lighthizer - also remains uncertain
 "Trump's India visit: Officials rushing to create a trade agreement")
GST compensation to states delayed due to low realisation of cess: FM
At the time of the introduction of GST, it was agreed that the Centre would compensate states for shortfall in GST collections as per a defined formula
 "GST compensation to states delayed due to low realisation of cess: FM")
Bangladesh's per capita GDP now higher than eastern and northeastern India
Its per capita GDP was $1,905 in 2019, against $1,566 in West Bengal and $1,185 in Assam
 "Bangladesh's per capita GDP now higher than eastern and northeastern India")
Govt makes tax dispute resolution scheme attractive, expands scope
Cabinet approves changes to include litigation across forums
 "Govt makes tax dispute resolution scheme attractive, expands scope")
Opec cuts 2020 demand forecast by a third amid Coronavirus worries
The cartel reduced projections for demand growth in the first quarter by 440,000 barrels a day, or about a third, in its monthly report
 "Opec cuts 2020 demand forecast by a third amid Coronavirus worries")
India to remain a stretched society forever, says N Chandrasekaran
Fears of job losses due to artificial intelligence (AI) was a narrative created by the developed economies, he said
 "India to remain a stretched society forever, says N Chandrasekaran")
Govt looking at final bill after cabinet okays funds for 3 insurance firms
The companies would soon announce the formation of joint Lok Adalats as well as take the help of the insurance Ombudsman
 "Govt looking at final bill after cabinet okays funds for 3 insurance firms")
Tunnel works worth over Rs 1 trn to be undertaken in next 5 years: Gadkari
At the same time, competent players, whether small or big, need to be given opportunity and for this, there is a need to relax technical and financial bid parameters, Gadkari said.
 "Tunnel works worth over Rs 1 trn to be undertaken in next 5 years: Gadkari")
Govt eases FPIs registration process, notifies common application form
The applicants seeking FPI registration need to fill the common form prescribed by the regulator, declaration providing supporting documents and applicable fees for registration and issuance of PAN
 "Govt eases FPIs registration process, notifies common application form")
Unbelievable but true that only 2,200 had declared earnings of Rs 1 cr: PM
Previous governments hesitated to touch Indis's taxation system, the current dispensation was making it more citizen centric, PM Modi said.
 "Unbelievable but true that only 2,200 had declared earnings of Rs 1 cr: PM")
Retail inflation spikes to 7.59% in January; December IIP at -0.3%
Retail inflation rose sharply to 7.35 per cent in December 2019.
 "Retail inflation spikes to 7.59% in January; December IIP at -0.3%")
IRCTC to run third private train in Varanasi-Indore route from Feb 20
The tour packages will cover Kashi, Omkareshwar, Mahakaleshwar, Bhopal, Sanchi, Ujjain, Bhimbetka, Ayodhya and Prayag, according to the statement.
 "IRCTC to run third private train in Varanasi-Indore route from Feb 20")
Cabinet gives nod to Major Ports Authority Bill to replace existing law
The approval was accorded at a meeting of the Union Cabinet chaired by Prime Minister Narendra Modi
 "Cabinet gives nod to Major Ports Authority Bill to replace existing law")
Yogi govt to table Budget 2020-21 on February 18; session starts Thursday
The size of the UP Annual Budget 2020-21 is expected to breach the historic mark of Rs 5 trillion
 "Yogi govt to table Budget 2020-21 on February 18; session starts Thursday")
Pesticides Management Bill gets Cabinet nod, to be tabled in Parliament
"In 2008 the bill was presented. It was discussed thoroughly in Standing Committee. After taking cue from standing committee recommendations, this new bill has been drafted," Javadekar said.
 "Pesticides Management Bill gets Cabinet nod, to be tabled in Parliament")
UP govt targets Rs 10,000 cr of GeM procurement in current financial year
GeM is an end-to-end e-market, where common user goods and services can be procured by various government organisations, including ministries, departments, public sector undertakings
 "UP govt targets Rs 10,000 cr of GeM procurement in current financial year")
Andhra govt plans 10,000 mw solar power project to meet energy needs
AP Green Energy Corporation will be incorporated as a wholly owned subsidiary of the state-owned power utility AP Genco for the purpose of developing the 10,000 mw solar power project
 "Andhra govt plans 10,000 mw solar power project to meet energy needs")
NHAI makes FASTag free of charge for 15 days to increase toll collection
The government has rolled out the FASTag-based toll collection system across more than 527 national highways in the country
 "NHAI makes FASTag free of charge for 15 days to increase toll collection")