Page 2708 - Economy & Policy News

FY18 fiscal deficit to be lower than revised estimates of 3.5%: S C Garg

India revised its fiscal deficit target to 3.5% of GDP from an earlier 3.2% of GDP for the 2017/18 fiscal year that ended on March 31

Feb GST revenue collections at nearly Rs 900 bn, says Hasmukh Adhia

As per the figures released by the government, the GST collection for January stood at Rs 880.47 billion. In December, it was Rs 889.29 billion

EESL to invest Rs 24 bn to buy 20,000 electric vehicles by March 2019

EESL has also rolled out the plan for setting up charging stations across the country

Sugar surplus to rise to 5.3 mn tonnes for 2017/18 crop year: WISMA

The higher-than-expected surplus could pressure local prices even lower even after they fell last week to their lowest since December 2015

Direct tax mop-up exceeds target in FY18 at Rs 9.95 trn; 68.4 mn ITRs filed

A net of 9.95 million new assessees were added to the tax net

Govt levies 10% import duty on key smartphone parts to push Make in India

A 10% customs tax was also imposed on the imports of camera modules for phones and connectors

Infrastructure output grows 5.3% in Feb as cement, refinery output pick up

During April-February, the annual output growth was 4.3%, data showed

Upswing in GST revenue trends: Rs 892.64 bn collected in March, says Adhia

Direct tax collection in 2017-18 exceeded target; on course to achieve revised fiscal deficit goal, said Finance Secretary Hashmukh Adhia

Uttar Pradesh clocks highest MSME credit growth at Rs 570 billion

UP was followed by Andhra Pradesh 18.6%, Rajasthan 18.3% and Haryana 18%

Govt plans 2nd tranche of Bharat-22 ETF; sets target of raising Rs 800 bn

ICICI Prudential Mutual Fund, which is managing the ETF, filed draft papers for a follow-on offer with Sebi

Monetary policy preview: RBI to remain on sidelines with a neutral stance

Inflation expectations have improved significantly and stabilised below 9 per cent for a year and an extended pause is unlikely to change the expectations dynamic materially

UDAY fails to save UPs bleeding Discoms, 49% homes without power: Study

To meet the central government's '24x7 Power' For All by 2022 target, the state would have to electrify 300,000 houses every month

Govt moots regulator, information exchanges for digital health data

The government released a draft Bill termed Digital Information Security in Healthcare Bill, which seeks to give powers to citizens about their health data and pushes for penalties on misuse

Day 1 sees no major glitch for e-way bill, says GSTN chief executive

An official said it would take a week or two for flying squads to get into regular operation, since the mechanism is not fully final

Government sanctions Rs 127 billion of GST refund claims

About Rs 28 billion worth eligible refunds are pending which will also be cleared soon

Govt to use AI, blockchain technology for seamless cargo movement

Beside saving cost and time, it could help India vastly improve its ranking on the 'trading across borders' parameter

MPC's dilemma: RBI projects 5.1-5.6% CPI inflation in first half of 2018-19

Economists expect the CPI to inch upward as the adverse base effect and seasonally high food prices push up the inflation rate

Govt may have to stop export subsidies within the next nine months

Trade experts have said India's position is weak, with no historical precedent for a country winning a reprieve from the WTO on this matter

Helpful circular on taxing of job work

The goods must move under a delivery challan and an e-way bill must be generated

Soon automakers to deliver cars fitted with number plates: Nitin Gadkari

Gadkari said the new technology number plates were intended to bring relief not only to consumers but also to bring in uniformity across states