Page 2581 - Economy & Policy News

Forex reserves dip by $950.9 mn on fall of foreign currency assets

Foreign exchange reserves declined by $950.9 million to $404.192 billion in July

GST Council may replace 12% and 18% slabs with 14-15% one: Sushil Modi

At present, around 49 countries use a single GST rate, 28 use two rates and four countries, including India, have more

How can India power more than a billion air conditioners by 2050?

The IEA projects that by 2050, there could be more than a billion air conditioners in India

Constitution grants immunity to port, airport projects from green nod: Govt

The remarks come at a time when projects worth more than Rs 250 billion are lying stuck at India's 12 major ports in want of green clearances

Spot power price up 39% to Rs 3.46 per unit in July; peak demand declines

Good monsoon rains dampened the power demand as well as prices in July this year vis--vis the preceding month

Govt to take action against 225,000 cos for not filing financial statements

Section 248 of the Companies Act -- which is implemented by the corporate affairs ministry -- provides powers to strike off names of companies

Tech Mahindra inks MoU with Telangana for India's first Blockchain district

Tech Mahindra as a founding member of the blockchain district will provide the platform and technology assistance to all the incubators in it

PM reviews infra sectors, calls for faster progress in e-toll collection

The average road length constructed per day in FY18 was 26.93 km, compared to 11.67 km in FY14

India looking to set up LNG import terminal in Myanmar: Dharmendra Pradhan

The terminal will be in addition to the similar facilities planned by Indian firms in Bangladesh and Sri Lanka as part of larger plan of energy connectivity in the South Asian neighbourhood

Govt orders 83 investigations into corporate governance violations

Meanwhile, 13 cases have been assigned to the Serious Fraud Investigation Office (SFIO) till June 30

RBI hikes repo rate by 25 basis points to 6.50% amid inflation concerns

This was the first time since October 2013 that the central bank has hiked repo at two consecutive policy meetings

Telecom operators to bid cautiously in spectrum auction, say analysts

At current tariffs, operators' revenues are not able to cover their operating costs and network capex

July sees strongest service sector growth since October 2016: PMI

In PMI parlance, a print above 50 means expansion, while a score below that denotes contraction

Centre may make further changes to Insolvency and Bankrutpcy Code: Govt

Insolvency and Bankruptcy Board of India (IBBI) is implementing the Code

Here's why Swiss banks are no more a safehouse for Indian tax evaders

Herve Falciani, a French citizen who worked for HSBC's Swiss private bank, in 2008 disclosed details on thousands of clients he suspected were using accounts to evade tax

Digital push: You may soon get 'instant cashback' on your GST e-payments

GST Council meet to focus on MSME issues; it is proposed that consumers get instant cashback up to two percentage points for those paying digitally

India may delay imposition of higher duties on 29 key imports from US

Last-minute trade talks before Aug 4 deadline have broken down

Draft e-commerce policy unites SoftBank, Sequoia Capital, Tiger Global

In 2017, almost $21 billion worth of PE investments made its way into e-commerce companies and start-ups

Govt receives 50 applications for the post of chairperson of CCI

CCI is an anti-competition watchdog that investigates cartels in government tenders or in private companies and was constituted following the Competition Act, which came into effect in 2002

RBI adds gold to forex reserves in June quarter, buys 2.5 tonnes in March

At present, the central bank's total gold holding is 561.9 tonnes