Page 2612 - Economy & Policy News

GST ministerial panel against sugar cess to compensate cane farmers

GoM feels that after fixing a Minimum Support Price for sugar at Rs 29 a kg, payment arrears due by mills to cane farmers have come down by Rs 50 billion, to Rs 180 billion

Replace old vehicles, adopt electric vehicles: NITI Aayog

In its draft action plan titled 'Breathe India', it has proposed a 15-point action plan for combating air pollution in the 10 most polluted cities

Global debt hits a new record at $247 trn, $29 trn higher than end of 2016

The pace of the debt increase in the first quarter is a concern to the IIF as they note that the quality of the debt has declined, particularly in emerging markets

Start reducing oil prices or expect demand to sink, India warns OPEC

If prices continue rising at the pace they've been gaining in the past month and a half, the South Asia nation's consumers will likely see alternatives such as electric vehicles and gas

May outward remittances just shy of $1 bn, up from $847 in year-ago period

Over $364 million went for travel, followed by $248.8 million for maintenance of close relatives and $178 million for education

India's oil imports from Iran fall over 15% in June amid US sanctions fears

India, Iran's top oil client after China, has asked refiners to look for alternative oil as the nation may have to drastically cut imports from Tehran to comply with the renewed US sanctions

Lost battle over use of oil windfall to fiscal hawks: Arvind Subramanian

Subramanian, who had often batted for policy rate rate reduction, said tighter monetary and fiscal policies were needed to hold the line at the time of shocks

How the Indian sugar industry is creating a not-so-sweet trap for itself

Industry staring at a record surplus by next year

World Bank says India beat France to become sixth largest economy: Report

India is expected to grow at 7.4 per cent in 2018 and 7.8 per cent in 2019, leaving its nearest rival China behind

Civil Aviation Ministry to soon begin registration for drone operations

Niti Aayog CEO Amitabh Kant said the regulatory framework for civil and commercial operations of UAS needs to be put in place early in line with global best practices

CEA Subramanian rules out single rate GST, says 3-slab structure possible

Union Minister Arun Jaitley had dismissed the idea of a single rate GST as "flawed" saying that it can only work in a country where the entire population has 'similar and high' capacity to spend

Aadhaar-based DBT savings over Rs 900 bn as on Mar 31, says UIDAI official

1.21 billion residents have so far enrolled for Aadhaar card and on an average over 30 million e-transactions are done using the identification system

Telecom Commission approves net neutrality rules as recommended by Trai

Some mission critical applications or services like remote surgery and autonomous cars will however be kept out of the purview of net neutrality framework

Kharif sowing drops by 30% to 0.94 million hectares in Odisha

Sowing of paddy, the key Kharif crop, has plunged by 32 per cent to 0.78 million hectares compared to 1.16 million hectares covered as on July 7 last year

Govt ups threshold cap for tax dept appeals in courts to reduce litigation

This step will also reduce future litigation flow from the revenue department side

India tops list of scrapped coal projects in pipeline since 2010: Study

The findings of a study by the US-based Institute for Energy Economics & Financial Analysis (IEEFA) show India cancelled 464,727 coal-based generation projects planned since 2010

India will overtake UK this year as the world's fifth biggest economy

But it may not be before 2024 that India overtakes Germany to become world's fourth-largest economy

GoM not in favour of sugar cess, moots lowering of GST on ethanol to 12%

GoM may look at the option of levying 1 per cent agriculture cess on luxury goods which could imposed to deal with any unforeseen circumstances in the farm sector

GST Council to consider rate cut on items with low revenue impact on Jul 21

Several industry bodies and stakeholders have been demanding duty cut on items, especially those linked to general health and employment generation in unorganised sector

Gujarat questions DIPP's method of ranking states on ease of doing biz

Gujarat slipped two positions to rank fifth in the ease of doing business ranking among all the states