Page 943 - Economy & Policy News

SC ruling on IBC will have overriding effect over indirect tax recoveries

The move, according to tax experts, will set a precedent for matters related to recoveries

Surplus parked with RBI falls below Rs 1 trillion as liquidity shrinks

RBI's forex moves, strong credit off-take lead to faster liquidity decline

Not convinced of durable fall in inflation: RBI Deputy Guv Michael Patra

CPI inflation was at 6.7% in July, the first time in four months that the price gauge fell below 7%

FinMin sees Q1 growth at 15.6% ahead of GDP data, impact on trade component

This is lower than RBI's April-June (Q1FY23) GDP projection of 16.2%

Don't burden utilities, pay for freebies from budget: Sitharaman to parties

Citing the example of free electricity being promised in many states, the finance minister said the burden for the freebies should not be thrust upon the power discoms or gencos.

Focusing on inflation to make central banks' job easier: Raghuram Rajan

He said issues such as climate change and employment are peripheral to the central bank mandate and could be better dealt with direct polices.

FM Sitharaman meets US Deputy Treasury Secretary, discusses global economy

India will hold the Presidency of the G20 from December 1 to November 30, 2023. India will host the G20 summit next year.

India in talks with Russia over LNG supply resumption, says GAIL

"There are some immediate issues which we are trying to tackle both at the company level and also at G2G (government to government) level," said GAIL Chairman Manoj Jain

Base effect to lift India's GDP growth to double-digits in Apr-Jun: Poll

Growth would be the fastest in a year, but slightly weaker than the Reserve Bank of India's forecast of 16.2%. The data will be released at 1200 GMT on Aug. 31

Medicine purchases by inpatients exempt from GST, says Tamil Nadu AAR

But says drugs, consumables purchased by outpatients in the course of treatment will be taxed

HNIs more cautious on foreign investment after new rules kick in

According to the new rules of the liberalised remittance system (LRS), an Indian resident can now invest $250,000 a year in foreign stocks, debt etc

I-T dept going into new areas to check tax evasion: CBDT chairman

Income-Tax department is going into "new areas" of the economy to check tax evasion even as its investigation units are using analytics to sift through voluminous data on Indians holding assets abroad

2050 net-zero target can boost India's GDP by 7.3% till 2032, says report

Should India ramp up its ambition to achieve net zero emissions by 2050, it could boost GDP by 7.3 per cent ($470 billion) and create almost 20 million additional jobs by 2032, a new research shows

CBDT asks the winners of online games to pay taxes, file updated ITR

The winners of online games will have to pay taxes at the rate of 30 per cent without any rebates or 25-30 per cent on taxes and the interest due

Centre restricts wheat flour exports to stabilise soaring local prices

India's cabinet approved a policy to restrict wheat flour exports to calm prices in the local market, the government said in a statement

India poised to become next global SaaS capital, says EY-CII study

According to a study by EY and CII titled "India: The next global SaaS capital", India is poised to become the next SaaS capital over the next few years

Green hydrogen: India Inc's next big thing even as policies take shape

Even as policies and supply chain take shape, conglomerates and RE companies are investing heavily in this new fuel

Will 'one nation one fertiliser' lead to uniformity or anonymity?

Under 'One Nation One Fertiliser' all fertiliser bags, irrespective of their contents or the company that manufactures them, will carry a uniform brand name called "Bharat"

Income tax dept collects Rs 28 cr in taxes from new ITR-U filing

CBDT chief Nitin Gupta said the scheme was brought by the Union government for the benefit of taxpayers so that they can comply with their tax responsibilities without getting into hassles of the law

Govt decides to put restrictions on export of wheat flour to curb prices

The government on Thursday decided to put restrictions on the export of wheat flour to curb rising prices of the commodity