Page 2609 - Economy & Policy News

States fail to meet fiscal deficit target on farm loan waivers, GST: RBI

This is the third consecutive year where the states have failed to meet their gross fiscal deficit (GFD) target

In win for Trump, US oil exports to India soar ahead of Iran sanctions

Donald Trump's administration has been pressuring allies to cut imports of Iranian goods to zero by November and India's shift advances the US efforts to use energy to further its political goals

Buyers deficient US coal miners are learning to love India. Here's why

India's appetite for foreign coal is increasing at a time when the country's own production of thermal coal is struggling to keep up with the fast-growing demand from its power sector

Govt slashes UPI cashback scheme limit to total of Rs 150 per person

The government has already spent Rs 1 billion in the last three months of the scheme in giving these cashbacks

How world's fastest-growing oil user India is bucking trend of price cuts

India has, so far, resisted the temptation to give relief to consumers and keeping a close watch on fiscal deficit goals

India's per capita income too low despite being 6th largest economy: NITI

NITI Aayog Chairman Rajiv Kumar said, soon India will overtake UK, that will be even better news

Nabard doubles financial assistance to Odisha in two years

The total financial resource support to the state has doubled to Rs 171.95 billion in 2017-18 under both institutional credit support and infrastructure development.

Big economies like India, China to suffer more if trade tariffs rise: OECD

Global growth would slow as rates in the big emerging economies, now on average over five percent, converged with the 2 percent expected on average in OECD counties by 2060

GST Council to discuss ease of filing returns, rate reduction on July 21

Goyal said the Goods and Services Tax (GST) Council had been responsive to industry demands

Govt sets up task force to identify items to reduce dependence on import

It would suggest ways to cut import of those items which can be manufactured or explored in the country

Double whammy for Indian economy: Retail inflation up, growth slips

June CPI was at 5% vs 4.87% in May

Govt clarifies, use of Aadhaar in Ayushman Bharat scheme 'not mandatory'

The scheme is aimed at providing an insurance cover of Rs 500,000 per year for hospitalisation to 107.4 billion poor families

Amount locked up in tax litigation to reduce by Rs 56 bn as govt cuts limit

As of March, 2017, tax disputes worth Rs 7.6 trillion were stuck in various stages of litigation in tribunals, High Courts and the Supreme Court

As 'foreign' economic advisors leave, a protectionist India returns

Right-wing advisors associated with the RSS are gaining more space within the government

Amartya Sen is right again: India is the worst in South Asia after Pakistan

The country has fallen behind Bangladesh, Bhutan on several socio-economic parameters, especially health and education

Net neutrality rules approved: Why telcos have always been against it

The debate over net neutrality has been going on in India since 2015, triggered by the launch of zero-rated mobile services like Facebook Free Basic and Airtel Zero

Govt ups threshold for tax case appeals to Rs 2 mn to reduce litigations

The move will result in 41 per cent reduction in overall tax cases, Finance Minister Piyush Goyal said

Jet fuel, natural gas may come under the ambit of GST as early as next week

States charge as much as 30 percent in sales tax on aviation turbine fuel, on top of a 14 percent excise duty, making it the costliest in Asia

Govt moves to dilute RBI's data storage rules for foreign payment firms

Global payment firms currently store and process Indian transactions outside the country

RBI intervention to high tariffs: What can be done to cushion rupee's fall

With current-account deficit set to widen, thanks to higher oil prices and outflows from stocks and bonds, the rupee could be in for more weakness after it plunged to a record 69.0925 against dollar