Page 623 - Economy & Policy News

Prices of tomato, ginger soar in Jammu amid heavy rainfall, landslides

The recent price surge due to a demand-supply gap has posed significant challenges for low-income individuals who struggle to afford essential commodities

States borrow only 84% of Rs 1.9-trillion notified amount in first quarter

This initiative entails providing special assistance to State Governments through 50-year interest-free loans, amounting to a total of Rs. 1.3 trillion during the financial year 2023-24.

India's critical mineral list a step towards supply-chain security: Experts

Critical minerals refer to mineral resources, primary and processed, which are essential inputs in the production process and whose supplies could be disrupted

Input tax credit not available for GST paid on CSR work expenses: UP AAR

CSR activities are excluded from the normal course of business, says authority citing rules

6 years of GST: Rs 1.5 trn monthly tax revenues becomes 'new normal'

To apprehend black sheep, who operate as syndicates and create fake entities on basis of forged documents to claim input tax credit, tax officers started using data analytics, artifical intelligence

Oil prices fall on concerns of slow fuel demand, weak China industrial data

Brent crude futures declined 40 cents, or 0.5%, to $73.63 a barrel by 0444 GMT. U.S. West Texas Intermediate (WTI) crude futures fell 32 cents, or 0.5%, to $69.24 a barrel

No TCS on credit card spends overseas, says Ministry of Finance

Implementation of 20% tax on foreign remittances put off until October 1

GST officers bust nexus of 30 fake firms for passing Rs 50 cr ITC

The GST officers have busted a nexus of more than 30 fake firms, who have availed ineligible input tax credit (ITC) of over Rs 50 crore, the finance ministry said on Wednesday

India pushes back plan to collect 20% tax on overseas spending beyond cap

In May, the government had said it would only impose 20% tax on overseas spending of above 700,000 rupees through international debit and credit cards in a financial year

State-owned firm KABIL to sign lithium pact with Argentina: Report

India, among the world's top greenhouse gas emitters, has been pursuing overseas pacts to secure key minerals in resource-rich countries such as Australia, Argentina and Chile

Heavy metal: Centre releases first ever list of 30 key critical minerals

Lithium, cobalt, and silicon among 30 minerals identified

Tax hike on international transactions to come into effect from Oct 1

No change in rate of TCS for all purposes under LRS and for overseas travel tour packages, regardless of mode of payment, for amounts up to Rs 7 lakh per individual per annum

5% ECLGS loans turn into non-performing assets: Financial stability report

Public sector banks credit card NPA at 18%

India eyes cap on state transmission charges on green power purchase

Industrial and commercial consumers across the country have complained about various transmission charges levied by states on power purchase leading to higher costs

Trai to update quality of service parameters soon; to meet telcos next mnth

Telecom regulator to meet telcos on call drop, network issues next month

Explained: Is greedflaition for real? Here's all you need to know

Recently, there has been an increasing consensus in Europe and US that Greedflation is driving the rising cost of living rather than just inflation, but what is this phenomenon

India not alone in exhibiting improving current account balance numbers

India had seen an improvement in its current account balance in the March 2023 quarter

Centre hikes sugarcane FRP by Rs 10 per quintal for 2023-24 season

According to the Sugarcane (Control) Order of 1966, FRP is the minimum price that sugar mills have to pay to sugarcane farmers

Seafood exports more than doubled since 2013-15: Union Minister Rupala

Seafood exports have more than doubled since 2013-14 and touched nearly Rs 64,000 crore last fiscal Union Minister of Fisheries, Animal Husbandry & Dairying Parshottam Rupala on Wednesday said

PM-PRANAM scheme gets CCEA approval to boost alternative fertilisers

Urea subsidy of Rs 3.68 trillion to continue till March 2025