Page 2201 - Economy & Policy News
Fiscal deficit touches Rs 4.32 trillion in Q1, 61.4% of budget estimate
The CGA data showed that revenue receipts of the government during April-June, 2019-20 was 14.4 per cent of the Budget Estimate
 "Fiscal deficit touches Rs 4.32 trillion in Q1, 61.4% of budget estimate")
Tea Board starts working on plan to modify existing auction process
The move follows the recommendations of IIM Bangalore (IIMB), which was appointed by the Tea Board to come up with suggestions to improve the tea pricing scenario in the country
 "Tea Board starts working on plan to modify existing auction process")
Eight core industries' growth fell to 0.2% in June from 4.3% in May
Infra output accounts for nearly 40 per cent of the country's industrial output
 "Eight core industries' growth fell to 0.2% in June from 4.3% in May")
Cabinet okays bill to ease compliance for chit funds, protect subscribers
The government had earlier in 2018 introduced a bill to regulate the chit fund industry but it lapsed
 "Cabinet okays bill to ease compliance for chit funds, protect subscribers")
Fiscal deficit crosses 61% of budgeted target in first 3 months of FY20
Net tax receipts in the first three months of the fiscal year were Rs 2.51 trillion
 "Fiscal deficit crosses 61% of budgeted target in first 3 months of FY20")
Govt hikes subsidy for non-urea fertilisers, to cost Rs 22,875 cr in FY20
A decision in this regard was taken at the meeting of Cabinet Committee on Economic Affairs (CCEA) headed by Prime Minister Narendra Modi
 "Govt hikes subsidy for non-urea fertilisers, to cost Rs 22,875 cr in FY20")
Female labour participation improved across most Indian states in 2018
The Periodic Labour Force Survey that estimated unemployment at a 45-year high showed women's LFPR at 19.5 per cent at the end of December 2018
 "Female labour participation improved across most Indian states in 2018")
How changing monsoon 'normal' is likely to affect the farm calendar
Prompted by a rising visible impact of climate change on the variability of Indian monsoon, IMD is in the process of revising the monsoon onset and withdrawal dates
 "How changing monsoon 'normal' is likely to affect the farm calendar")
India-US ties face risk of downward spiral, need urgent attention: Expert
India imposed retaliatory tariffs on 28 US products including almonds and apples from June 5, after the Trump administration revoked its preferential trade privileges
 "India-US ties face risk of downward spiral, need urgent attention: Expert")
Maha govt accords infrastructure status to Mumbai-Pune hyperloop project
Hyperloop is a ultramodern, superfast transport project which is being implemented to link Mumbai and Pune, which are located around 200km apart
 "Maha govt accords infrastructure status to Mumbai-Pune hyperloop project")
Top 10 biz headlines: CCD crisis, RBI's fine print on NPAs and more
From sale of Ather Energy electric scooters hitting 1 million by 2023 to RBI allowing domestic banks to sell NPAs abroad, here are the top business headlines on Wednesday
 "Top 10 biz headlines: CCD crisis, RBI's fine print on NPAs and more")
US working hard to help Indian economy grow under Indo-Pacific plan: Pompeo
Pompeo's remarks come weeks after a delegation of the US Trade Representatives travelled to India for talks on a wide range of bilateral trade issues, in particular tax and tariffs
 "US working hard to help Indian economy grow under Indo-Pacific plan: Pompeo")
Govt likely to roll back MEIS incentive as part of new export-import policy
Textile industry fears that the Commerce Ministry's decision would kill exports.
 "Govt likely to roll back MEIS incentive as part of new export-import policy")
NHAI aims to double its borrowing from National Small Savings Fund
The NHAI took Rs 20,000 crore from the NSSF in 2018-19. Its plan is to raise about Rs 40,000 crore from the latter during 2019-20
 "NHAI aims to double its borrowing from National Small Savings Fund")
2 years after roll-out, GST glitches still exist, says CAG report
Report also points to slowdown in revenues in FY18
 "2 years after roll-out, GST glitches still exist, says CAG report")
Banning cryptocurrency in India is not constructive: Nasscom
A ban would inhibit new applications and solutions from being deployed and would discourage tech startup, said Nasscom
 "Banning cryptocurrency in India is not constructive: Nasscom")
CAG flays tax authorities over error in assessment of income, taxes
CAG found irregularities in 340 high-value cases pertaining to corporation taxes with the tax effect of Rs 4,866 crore
 "CAG flays tax authorities over error in assessment of income, taxes")
GSTN should test system, fix deficiencies before roll-out to public: CAG
Commenting on the GST implementation, the report said one significant area where the full potential of GST has not been achieved is the roll-out of the simplified tax compliance regime
 "GSTN should test system, fix deficiencies before roll-out to public: CAG")
How dependence of patients on Ayushman Bharat differs across states
About 300 days into operation, more than 3.3 million patients have been admitted under nearly 16,000 empaneled hospitals under Ayushman Bharat
 "How dependence of patients on Ayushman Bharat differs across states")
India attracts highest-ever FDI inflow of $64.37-billion in FY19: Report
According to the Annual Report 2018-19 of the DPIIT, foreign direct investments (FDI) worth $286 billion were received in the country in past five years
 "India attracts highest-ever FDI inflow of $64.37-billion in FY19: Report")