Page 666 - Economy & Policy News

Indo-Israel trade to touch $10 bn; FTA to strengthen cooperation: Officials

Indo-Israel trade will grow to USD 10 billion this year and a free trade agreement (FTA) is essential to strengthen the economic relations, visiting officials from the Jewish country said on Thursday

GST e-invoicing must for businesses with turnover of Rs 5 crore or more

Lowering of e-invoicing threshold will extend the digital application to the MSME sector and benefit the business ecosystem by reducing costs, rationalising errors, and processing invoices quicker

India's vulnerability to global shocks to reduce in FY24: CRISIL

Domestic banking insulated from global financial turmoil and better positioned to tackle rising interest rates

Cash crunch pushing up funding costs in India deterring more RBI hikes

The weighted average call rate, an overnight funding cost rate the central bank monitors, was at 6.78% on Wednesday, above the upper band of the Reserve Bank of India's interest rate corridor, of 6.75

India's growth cannot be built on Chinese efficiency, says Jaishankar

Indian economic growth cannot be built on Chinese efficiency and there is a need for businesses to stop looking for a 'China fix', External Affairs Minister S Jaishankar said

Govt's wheat procurement up 42% at 25.2 mn tonness so far in 2023-24

The government's wheat procurement has reached 25.2 million tonnes so far in the ongoing 2023-24 marketing year, up 42 per cent from the year-ago period, according to the Food Ministry

India-UK FTA negotiations conclude with 'detailed' policy discussions

The tenth round of negotiations is due to take place in the coming months, it added

Govt plans green fuel port usage, bunkering in net-zero target push

The ministry will also push for data monitoring based on environmental performance indicators

Shell firms under scanner of tax authorities over fake ITC claims

A special drive starting May 16 to weed out bogus GST invoices

FMCG volume growth returns in January-March quarter, shows NIQ data

In its forecast, NIQQ said that despite global uncertainties, India's FMCG market forecasted growth is at 7%-9% for full year 2023

Govt to start random checks on EVs after recent lapses under FAME II scheme

The checks will be conducted by the Automotive Research Association of India

India, Canada to step up talks on movement of skilled workers

Two nations review progress of early harvest trade deal

FSSAI proposes to do away with Agmark registration for some edible oils

For such edible oils, only FSSAI license will be enough and a separate Agmark registration won't be required, industry players

Consumption of consumer goods in rural India back on growth track in Q1

The consumption of consumer goods in rural India returned to growth after more than a year in the March quarter and is expected to grow for the rest of the year

Govt expands scope of money laundering law to cover firm's representatives

The law now also includes individuals who provide the company with an office or correspondence address or act as a trustee, the notification said

Apex court verdict on pre-import conditions gives relief to exporters

Any claim for refund/credit shall be examined on its merits and on a case-by-case basis: SC

Centre asks industry to be ready for EU carbon tax, vows smooth transition

The carbon tax aims to impose a tax on goods imported into the EU from regions where production-stage carbon emissions are higher than those allowed by the mechanism's rules

Goods transport agencies have time till May 31 to opt for GST payment: Govt

In an amendment to the GST Act, the finance ministry in May said "the option for the Financial Year 2023-2024 (by a GTA) shall be exercised on or before the 31st May"

India suppliers to help us export $10 bn worth goods by 2027: Walmart CEO

India's ecosystem of suppliers will help drive Walmart's goal of exporting goods worth $10 billion annually from the country by 2027, the company's President and CEO Doug McMillon said on Wednesday

Inflation likely to hit 18-month low in April as price rise moderates: Poll

Predictions ranged from 4.40% to 5.80%, with respondents expecting inflation to remain below the RBI's 6.00% upper tolerance limit for the second consecutive month