Page 994 - Economy & Policy News

Indians can now receive up to Rs 10 lakh annually from relatives abroad

The govt also said if the amount exceeds, the individuals will now have 90 days to inform the government instead of 30 days earlier.

Rajeev Chandrasekhar meets Johnson, talks India-UK ties in innovation, tech

Chandrasekhar outlined the rapid strides taken by India in the field of technology, and informed that the country is designing 5G gear and manufacturing devices that go into making of 5G products.

Monsoon rains cover entire India but still 5% down on average so far

The progress of the monsoon, which delivers about 70% of the country's annual rainfall, is crucial for rice output and exports from India

20 yrs of privatised Delhi discoms: Leap in tech but feet tied in populism

A giant step forward in technology, but feet still shackled in populism

Mauritius-based PEs not to pay additional capital gains tax, says MRA

IVCA had said the move to treat all income from Indian AIFs as dividends would wreak havoc on funds with a presence in Mauritius and investments in India

Trust between Centre and states intact in GST Council: FM Sitharaman

In an exclusive interview with BS, Sitharaman said the first quarter lethargy is something which the Centre and the states will have to work on

Extend period of GST compensation to states by 5 years: Rajasthan CM Gehlot

Rajasthan CM Gehlot demanded that the Centre should extend the period of GST compensation by 5 years from June 2022 to June 2027 in view of the critical financial position due to the Covid-19 pandemic

Govt imposes windfall tax on oil producers, raises import duty on gold

To curb gold imports, govt hikes customs duty on the metal to 15% from 10.75%

Irdai and NHA to develop National Health Claims Exchange to settle claims

Based on a presentation by R S Sharma, CEO of NHA, chairman of Irdai Debasish Panda, has proposed creation of a working group with representation from the industry

CRISIL cuts FY23 GDP growth estimate to 7.3% from 7.8% on high inflation

Domestic rating agency CRISIL lowered its real GDP growth forecast for India to 7.3 per cent in FY23 from 7.8 per cent estimated earlier.

Kharif sowing picks up as rains revive, cotton and pulses gain most

Official data showed that among major kharif crops, acreage of pulses was almost 7 per cent more than last year

New project investments hint at road to normalcy, touch Rs 3.57 trn in Q1

Around Rs 87,000 crore worth of projects were completed in June 2022

UPI transactions remain above Rs 10 trillion in June, shows NPCI data

However, it was down by nearly 3 per cent from the previous month

Rlys freight grows 11% on year in June at 125 MT, gains from loading coal

There has also been an increase of 7 per cent in freight leads, or the distance travelled for transportation of goods, which is a source of higher revenue for the railways

India's manufacturing sector activity eases to 9-month low in June

Factory orders, production rise for 12th month in a row

GST collection at Rs 1.45 trillion in June, the second highest ever

Average GST collections at Rs 1.51 trillion a month in the first quarter of the current financial year are much higher than the Rs 1.2 trillion derived from the Budget Estimates

Capex is the route to economic revival, says FM Nirmala Sitharaman

In an exclusive interview with BS, Sitharaman says spend on capital assets may work better than sector-specific fiscal steps

India feels the heat as investors face brutal emerging markets selloff

The government raised import taxes on gold, while increasing levies on exports of gasoline and diesel in an attempt to control a fast-widening current account gap.

ONDC to give public access by August, has 150 entities on board yet

Seven companies - one buyer side app, five seller side apps, and one logistics service provider app - have built their own ONDC compatible apps

Indigenous stealth drone makes maiden flight from test range in Karnataka

The stealth drone, also referred to as an Unmanned Combat Airborne Vehicle (UCAV), has been designed and developed by the Aeronautical Development Establishment (ADE), Bengaluru