Page 678 - Economy & Policy News

I-T lens on big spenders, aims to widen taxpayer base by 10% in FY24

Targets adding 10% new filers in FY24, raising base to about 86 million

IFSC relaxation may boost trade in foreign stocks at the GIFT City

RBI removed requirement of repatriating funds lying idle in FCA accounts

Higher loan limits to enterprises addressing 'Missing Middle problem': SBI

Increase in Mudra disbursement leads to decline in states' subsidies allocation

Uptick in PF enrolment, 1.38 cr net users joined EPFO scheme in 2021-22

The latest EPFO payroll figures from the past five years (2017-22) indicate that Maharashtra, Karnataka, Tamil Nadu, Gujarat, and Haryana have contributed significantly to the overall net EPFO

India, Germany sign agreement on setting up quality infrastructure

Two sides to reduce technical barriers to trade and promote innovation and consumer protection

India, EFTA nations discuss prospects of resuming FTA negotiations

The development comes in the backdrop of a meeting between high-level delegations from India and EFTA to boost bilateral trade and economic partnership

Centre sticking to target of 5,000 compressed biogas plants by FY25

Announced in 2018, SATAT scheme has been able to establish only 46 CBG plants until now

Commerce department likely to tweak some SEZ rules in DESH Bill

Move will allow use of unutilised spaces in IT/ITeS for non-SEZ purposes

Govt pays PLI incentives worth Rs 2,874 crore towards 8 sectors in FY23

Empowered group of secys, NITI Aayog review some sectors to bring them to 'acceptable levels'

Indian economy demonstrates strength, GDP to grow at 6% in FY23: Acuite

Most lead indicators at the start of 2023 continue to display resilience, with incremental data Feb-23/Mar-23 faring better than Jan-23

Mattresses supplied to school hostels not exempt from GST: Tamil Nadu AAR

Hosur Coir Foams' supplies will draw 18 per cent integrated GST, rules authority

Industrial credit growth slips to a 12-month low of 7% in February

The slowdown in industrial credit was much sharper than the slowdown in overall non-food credit, which continued to grow in double digits at 15.9 per cent YoY in February

India may propose mutual settlements in local currencies at SCO IBC meeting

The move will enable the infrastructure projects to be cost efficient as the import component of the infrastructure projects will become relatively cheap with the settlement in the Rupee

Electronics exports grew a whopping 50% in FY23; may overtake drugs, pharma

Smartphones alone accounted for 23% of the rise

Personal income tax to GDP ratio surges, indicating rise in taxpayer base

Personal income tax as a percentage of GDP has gone up from 2.11 per cent in 2014-15 to 2.94 per cent in 2021-22 fiscal, indicating that taxpayer base is widening

NPS adoption by central public sector at 13-month high in February

Earlier, 13,421 new subscribers had joined the NPS in January 2022

Walmarts to Flipkarts, all have role in making ONDC a success: Piyush Goyal

According to the minister, small artisans and workers can offer better quality products through ONDC and also earn better, without having to pay commission

Tax trouble: GST authorities quiz auto dealers on fake invoicing

Certain automobile dealers appointed by insurers/insurance intermediaries allegedly billed commission in excess of Irdai cap

FY24 MGNREGS budget might last just a few months if enough work provided

During below-normal monsoon years, MGNREGS acts as a cushion for rural labourers who find it difficult to get work in the fields and farms

India exploring options after WTO panel ruling, rules out immediate impact

The statement comes a day after Business Standard reported quoting an EU spokesperson that EU may impose retaliatory tariffs on Indian goods if New Delhi doesn't abide by the WTO ruling