Page 612 - Economy & Policy News

Mixed picture: IMF sees 'resilience', slowing momentum in global economy

G20 countries also need to tighten fiscal policy to ensure debt sustainability, create fiscal space and to help support disinflation by reducing aggregate demand, the Fund said.

India to reject call for anti-subsidy tax on some Chinese steel products

As per World Trade Organisation rules, a member country is allowed to impose an anti-subsidy duty if a product is subsidised by the government of its trading partner

Indian online gaming firms relocating to avoid tax will be risky: Official

Indian online gaming firms planning to relocate overseas to avoid a new 28% tax on the sector run the risk of violating the country's forex laws, Johri, head of the indirect taxes' department, said

European Investment Bank to offer €1 bn loan for green hydrogen mission

The EIB had joined India Hydrogen Alliance in February

Tighter norms in works for offshore e-gaming platforms: Revenue dept

Registration may be mandated; declare purpose of transactions with banks

Turning jobseekers into job-givers key goal of govt: CEA Nageswaran

Turning jobseekers into job-givers is an important goal of the government and many steps have been taken in recent years to achieve this objective, said Chief Economic Adviser V Anantha Nageswaran

India's role is to develop global consensus, says DEA secretary Ajay Seth

After 40 years of low inflation, there has been a spell of high inflation in the world with countries trying to figure ways to cope with it, the CEA said

Russia-Ukraine war discussion may be pushed to the last minute of G20 talks

On the first day, members discussed the preamble and conclusion paras of the proposed communique, he said

Rupee, govt bonds gain after lower-than-expected US inflation data

However, the Indian unit gave up some early gains as importers bought dollars for oil companies, dealers said

Unsecured loan portfolios growth highest, credit card NPAs shoot up: Report

From a loan growth perspective, outstanding balances on credit cards grew 34 per cent in the year to March 2023, and personal loans were up 29 per cent

Clarificatory amendment to GST Act on online gaming in monsoon session

The implementation takes effect only when state legislatures have also passed amendments in state GST laws, Revenue Secretary said, adding that it will take some time

Want to buy popcorn with movie tickets? Here's how you can pay lower GST

If you only buy a movie ticket for entry and then buy food, the food will not be invoiced with the ticket, and you will be charged 5 per cent, said an official

Tomato is not the villain of the rise in retail inflation in June

The kitchen staple may, however, be responsible for its expected spike in July

G20 to discuss int'l debt architecture, more loans to developing nations

Countries like Zambia and Ghana have been waiting for big creditors to make progress in providing debt relief under the so called "Common Framework", which is led by the G20

India mulls banning exports of most rice varieties as local prices surge

The government is discussing a plan to ban exports of all non-Basmati rice, according to people familiar with the matter

Amid supply chain woes, Tomato prices breach Rs 200 per kg mark in Delhi

On Wednesday, the Centre announced that it will start selling tomatoes at discounted rates in retail markets in the national capital and a few other cities from Friday

We are working with various countries, including UK on IP rights: Goyal

''Our effort is to improve the Indian protocols around intellectual property rights and areas associated with it, but I feel it will have to be a little more gradual process'', said Goyal

Petroleum, petrochemical sector playing pivotal role: Union minister

He also said that Indian Oil's Panipat refinery is going to set up a green hydrogen plant of 7,000 tonnes capacity with an investment of Rs 60,000 crore

Third FMCGB meeting to have five thematic areas: DEA secretary Ajay Seth

More than 520 delegates, including ministers, governors deputies, across 66 delegations will be participating in these meetings spread over five days

India-UK FTA: Goyal, Badenoch discuss thorny issues in negotiations

India and the UK began negotiations on the FTA in January 2022, and set a Diwali deadline last year for the trade pact