Page 2074 - Economy & Policy News
Oct wholesale inflation at 40-month low of 0.16% on cheaper non-food items
The previous low was in June 2016, when inflation was negative 0.1 per cent. Deflationary pressure on manufactured product prices
 "Oct wholesale inflation at 40-month low of 0.16% on cheaper non-food items")
Govt eases norms for opening bank account for migrants using Aadhaar KYC
The changes were made by amending the Prevention of Money-laundering (Maintenance of Records) Rules, as per a gazette notification issued on Wednesday.
 "Govt eases norms for opening bank account for migrants using Aadhaar KYC")
Will pay farmers' dues even if defaulter sugar mills have to be sold: UP CM
Adityanath said his government is making a lot of efforts to get rid of the stagnation created by Samajwadi Party and Bahujan Samaj Party in the past years
 "Will pay farmers' dues even if defaulter sugar mills have to be sold: UP CM")
Govt plans North East Industrial Corridor to boost jobs, tourism: Rajnath
The Defence Minister also lauded the Five-Year Road Plan of Khandu under which all the existing inter-state and inter-district roads will be upgraded to state highway specifications by 2024.
 "Govt plans North East Industrial Corridor to boost jobs, tourism: Rajnath")
Need self-sufficiency in high-grade steel; industry must step up: Pradhan
High grade and value-added steel are used in power, defence and automobile which is currently imported
 "Need self-sufficiency in high-grade steel; industry must step up: Pradhan")
At Rs 6 trn, CBDT's direct-tax mop-up so far less than 50% of FY20 target
The income tax department has also launched a faceless e-assessment scheme to eliminate interface between an assessing officer and a taxpayer
 "At Rs 6 trn, CBDT's direct-tax mop-up so far less than 50% of FY20 target")
BRICS nations for common payment system to reduce dollar dependence: Russia
Dmitriev said the five BRICS nations had also discussed creating a common cryptocurrency for mutual payments as the grouping was reducing the share of payments in the U.S. dollar.
 "BRICS nations for common payment system to reduce dollar dependence: Russia")
Govt's realty fund too small? JLL India says Rs 70k-cr needed for revival
In a much-awaited relief for distressed home buyers awaiting possession of their flats, the Centre last week up to Rs 10,000 crore for completing housing projects
 "Govt's realty fund too small? JLL India says Rs 70k-cr needed for revival")
Labour Minister Santosh Gangwar pitches for a separate cooperative ministry
Labour minister pitches for a separate ministry for cooperatives
 "Labour Minister Santosh Gangwar pitches for a separate cooperative ministry")
Develop clusters in backward, tribal areas: Gadkari to leather industry
On the capital issue, he said cost of capital is high in the country and it is difficult to get finance from the banking system
 "Develop clusters in backward, tribal areas: Gadkari to leather industry")
56% UK companies upbeat about doing business in India: UKIBC Report
When the UKIBC published its first Doing Business in India report in 2014, over 50 per cent of respondents cited corruption as a top barrier to operating in India
 "56% UK companies upbeat about doing business in India: UKIBC Report")
Rs 3-trillion metro rail projects proposed for the next five years
The projects also include the 90-km RRTS line between Meerut and Delhi
 "Rs 3-trillion metro rail projects proposed for the next five years")
BRICS Summit: India world's most investment-friendly economy, says PM Modi
Noting that India has "limitless" possibilities and "countless" opportunities, he urged the BRICS business leaders to take advantage of them
 "BRICS Summit: India world's most investment-friendly economy, says PM Modi")
DoT asks internet services providers to give audited AGR reports by Nov 28
Officials said PGCIL, Gail, RailTel, Oil India, and DMRC are likely to be sent letters for paying the AGR that can run into crores
 "DoT asks internet services providers to give audited AGR reports by Nov 28")
Deadline for GST filing, returns extended to March 31; forms simplified
The earlier deadline for filing of GSTR-9 and GSTR-9C for 2017-18 was November 30, 2019, while that for 2018-19 was December 31, 2019
 "Deadline for GST filing, returns extended to March 31; forms simplified")
Retail inflation may average 4% in FY20, but RBI may cut rate: SBI report
The report said even as food CPI will remain elevated, core CPI will go below 3 per cent in this fiscal.
 "Retail inflation may average 4% in FY20, but RBI may cut rate: SBI report")
To meet fiscal deficit target, govt may pare its IOC stake to under 51%
The government can sell as much as 26.4% its holding in Indian Oil -- valued at about Rs 330 billion -- and still retain indirect control
 "To meet fiscal deficit target, govt may pare its IOC stake to under 51%")
Auto slowdown: Component makers, vehicle manufacturers differ on recovery
Passenger vehicle sales fell around 20 per cent year-on-year in the April to October period, first seven months of this financial year
 "Auto slowdown: Component makers, vehicle manufacturers differ on recovery")
Auto slowdown: Component makers, vehicle manufacturers differ on recovery
Passenger vehicle (PV) sales fell around 20 per cent year-on-year in the April to October period, first seven months of this financial year
 "Auto slowdown: Component makers, vehicle manufacturers differ on recovery")
China's main growth engines falter in Oct as trade war with US continues
Disappointing numbers show China off to a rough start in the final three months of 2019.
 "China's main growth engines falter in Oct as trade war with US continues")