Page 449 - Economy & Policy News

Parivesh 2.0 portal to be default platform for all environment clearances

The guidelines signed on January 25 said that the applications on PARIVESH 1.0 that haven't shown progress in the past 90 days will be deemed inactive and rejected

No adverse impact of ongoing Red Sea crisis so far on India's trade

The trade data for January will be released by the commerce ministry on February 15. In December last year, exports rose marginally by one per cent to USD 38.45 billion

Existing taxation structure for corporates very reasonable: Revenue secy

Companies opting for these new tax rates had to forego all exemptions and incentives. The effective tax rate for existing units, after considering surcharges and cess -- such as Swachh Bharat cess

RBI may continue status-quo on short-term lending rate, say experts

RBI Governor-headed Monetary Policy Committee (MPC) will start its three-day deliberations on February 6. Governor Shaktikanta Das will announce the decision of the six-member panel on February 8

Upto India to 'forcefully define' Quad partnership, says US envoy Garcetti

"Bilaterals are always engaging but the two countries get a little bored of each other when it is just direct," he added

Govt aims to collect $1.7 billion revenue from online gambling tax in FY25

The government in October imposed a 28% tax on funds that online gaming companies collect from their customers for every bet, shocking a nascent $1.5 billion industry that is backed by global investor

PM Modi lays foundation stones of projects worth Rs 68,000 crore in Odisha

Prime Minister Narendra Modi on Saturday inaugurated and laid the foundation stones for projects worth over Rs 68,000 crore.

Indian economy to grow at 6.7% between fiscals 2024 to 2031: CRISIL

The Indian economy is expected to grow at an average rate of 6.7 per cent per annum until the end of the decade, CRISIL said in its latest report

Oil prices fall as US jobs data dents hope for near-term rate cuts

High interest rates, which tend to dampen economic growth and oil demand, in major economies like the United States and the euro zone appear to be here to stay in the near term

Besides avoiding recession, US also creating hundreds of thousands of jobs

The strong hiring and wage growth could complicate or delay the Federal Reserve's intention to start cutting interest rates later this year

Share of rural roads in total spends likely to fall further, shows data

The Budget indicates that the government is seeking participation from the private sector, suggested Aniket Dani, director, CRISIL Research

Avg monthly GST earnings to grow 11% to Rs 1.85 trn in FY25: Revenue secy

The government expects average monthly GST collections to touch about Rs 1.85 trn in the next fiscal, up from about Rs 1.66 trn this year

Government bonds give up early gains as traders sell at a profit

The yield on the benchmark 10-year government bond touched the day's low of 7.02 per cent as the government announced lower-than-expected gross borrowing for financial year 2024-25 on Thursday

I-T dept collects over Rs 1,260 cr in TDS from online gaming, crypto trade

About Rs 1,080 crore in taxes (under the tax deduction at source head) has been collected from online gaming and around Rs 180 crore through TDS has been mopped up during 2023-24 fiscal

India aims to raise up to $2.4 bn selling stakes in state-run firms

Modi's ambition of privatising state-run firms has taken a back seat due to impending elections, but his government has delivered more stake sales than any previous administration

India certain to become 3rd largest economy in our third term: PM Modi

Further, Modi said that in the 10 years before 2014, around 12 crore vehicles were sold in the country. However, since 2014 more than 21 crore vehicles have been sold in the country, he added

Monthly GST mop-up from online gaming companies jump 400% since Oct 1

GST officers had last year sent around 71 show cause notices to online gaming companies for alleged GST evasion of over Rs 1.12 lakh crore during financial years 2022-23 and 2023-24

Forex reserves increase $591 million to $616.7 billion, shows RBI data

Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound, and yen held in the foreign exchange reserves

FY24 asset monetisation falls short of target at Rs 1.50 trn: Official

Pandey said monetisation is going on through infrastructure investment trust (InvITs), Toll Operate Transfer (TOT) in mining, road and power sector and is beginning to happen in the petroleum sector

Deficit reduction will stabilise debt-to-GDP ratio over medium term: Fitch

Higher dividends from banks and financial institutions, apart from improvement in tax mobilisation, would help achieve the fiscal deficit glide path