Page 624 - Economy & Policy News

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

States' financial profile better in FY23; debt stays high: RBI report

At a disaggregated level, a few large states have debt-to GSDP ratios exceeding 35 per cent, the report added

Cabinet entrusts Siddaramaiah with appointing members for 3 sub-committees

The Karnataka Cabinet on Wednesday entrusted Chief Minister Siddaramaiah with constituting three Cabinet sub-committees to deal with irrigation projects, withdrawal of criminal case, for investment

Govt seeks industry feedback on challenges in PLI to enhance effectiveness

Goyal urged officials to hold regular consultation and roundtables with PLI beneficiaries

Indo-US ties in a regulatory bind; aligning regulations can be a challenge

The dissonance will be the most glaring in the role of the Competition Commission of India, or CCI

Fair & remunerative price of Rs 315 per qtl for sugarcane this season: Govt

In the current sugar season, mills purchased approximately 335.3 million tons of sugarcane, worth more than Rs 1.11 trillion

Spurring fiscal equality: Ratio of GST to GSDP higher in poorer states

One aspiration for the GST system was that it would lead to regional development as it is a destination-based tax regime