Page 2392 - Economy & Policy News
Every $10 per barrel hike in oil price raises CPI by 0.49%, says study
If prices hit $85 a barrel, the deficit on account of oil would be $106.4 billion - 3.61% of India's GDP - reveals study
 "Every $10 per barrel hike in oil price raises CPI by 0.49%, says study")
7 firms in a fix after bidders fail to implement resolution plan under IBC
Non-serious bidders are a cause for concern, but delays have been as much a worry for time-bound resolution of stressed assets under the IBC
 "7 firms in a fix after bidders fail to implement resolution plan under IBC")
ONGC cautions against listing of Videsh arm, cites Mozambique asset trouble
The DIPAMhad been pushing for the listing of the ONGC arm to meet the divestment target of Rs 80,000 crore for the current financial year
 "ONGC cautions against listing of Videsh arm, cites Mozambique asset trouble")
Small businesses likely to be off GST radar; council to decide on Thursday
The GoM also recommended a composition scheme for service providers with an annual turnover up to Rs 50 lakhs
 "Small businesses likely to be off GST radar; council to decide on Thursday")
GST panel for Kerala levying 1% cess for 2 yrs to fund flood rehabilitation
The GST law provides for levy of special taxes for a specified period to raise additional resources during any natural calamity or disaster.
 "GST panel for Kerala levying 1% cess for 2 yrs to fund flood rehabilitation")
Make Rs 200, Rs 500, Rs 2,000 Indian notes legal in Nepal: Country to RBI
Before the demonetisation of Rs 500 and Rs 1,000 banknotes, the RBI had issued a FEMA notification allowing Nepali citizens to carry Rs 25,000 worth of such banknotes
 "Make Rs 200, Rs 500, Rs 2,000 Indian notes legal in Nepal: Country to RBI")
Tax collection numbers 'matter of serious concern': CBDT chief
CBDT Chairman Sushil Chandra has shot off a letter to the I-T dept officials, asking them to pull up their socks as only three months are left for the current financial year to close on March 31
 "Tax collection numbers 'matter of serious concern': CBDT chief")
Traders group asks govt not to allow sale of pvt labels on e-commerce sites
CAIT requested to make it explicitly clear whether private labelling or branding is allowed under FDI policy in the e-commerce sector
 "Traders group asks govt not to allow sale of pvt labels on e-commerce sites")
Cabinet to soon consider framework for monetisation of assets of CPSEs
To begin with, the guidelines would be applicable for those central public sector undertakings which are likely candidates for strategic disinvestment
 "Cabinet to soon consider framework for monetisation of assets of CPSEs")
Defaulter cases should go to Rera regulators before NCLT: Realtors' body
Rera was brought in to make the real estate sector transparent and eliminate fly-by-night operators
 "Defaulter cases should go to Rera regulators before NCLT: Realtors' body")
Modi govt plans 'sanitised list' of CAs & companies, to collect KYC details
Move comes against the backdrop of instances of corporate frauds and various alleged lapses in corporate governance practices
 "Modi govt plans 'sanitised list' of CAs & companies, to collect KYC details")
Nafed sells 5.5 lakh tonne subsidised pulses to 11 states for PDS: Official
The pulses being allocated to the states are the one which have been procured directly from farmers under the Price Support Scheme
 "Nafed sells 5.5 lakh tonne subsidised pulses to 11 states for PDS: Official")
Sudden surge in crude prices can upset India's economy: RBI study
Since the country is heavily dependent on oil imports to the tune of over 80% for meeting its domestic demand, it remains susceptible to global crude price shocks
 "Sudden surge in crude prices can upset India's economy: RBI study")
Parliament panel asks RBI to fix dysfunctional ATMs, install more machines
The panel also noted that RBI's remonetisation drive has not augmented/resolved the cash supply to ATMs in rural/semi-urban areas, forcing shutdown of many ATMs
 "Parliament panel asks RBI to fix dysfunctional ATMs, install more machines")
Performance of states in education to be graded: HRD Minister Javadekar
Javadekar stressed on the importance of rationalising the curriculum
 "Performance of states in education to be graded: HRD Minister Javadekar")
Nearly 1.5 mn public sector powermen to go on pan-India strike on Jan 8
They are protesting against Electricity (Amendment) Bill, privatisation policies
 "Nearly 1.5 mn public sector powermen to go on pan-India strike on Jan 8")
Energy, not loan waivers or polls, will be India's key challenge in 2019
The country must get its act on global alliances right in order to feed its fuel-hungry economy; On the agricultural front, reforms could be the biggest change, if handled well
Jharkhand denies starvation death claims, blames medical conditions, age
Civil society activists disagreed with the investigations and questioned the findings on grounds that all evidences weren't considered before arriving at the conclusion
 "Jharkhand denies starvation death claims, blames medical conditions, age")
Central tax body withdraws controversial circular on transfer of shares
The circular had prompted the Congress to demand immediate relief for its leaders, including party president Rahul Gandhi and UPA chairperson Sonia Gandhi in the National Herald case
 "Central tax body withdraws controversial circular on transfer of shares")
Stakeholders criticise draft IT rules, say it won't make social media safe
On December 24, the IT Ministry released draft amendments under which social media and online platforms would need to trace originators of information when required by government agencies
 "Stakeholders criticise draft IT rules, say it won't make social media safe")