Page 351 - Economy

HC sets aside assessment proceeding against NRI over faceless issue

It should be noted that the notification by the CBDT carved out an exception for international taxation cases, including NRIs, for reassessment

'India, Russia central banks renew talks to expand local currency trade'

The discussions between the two central banks involve setting a reference rate between two local currencies for trade instead of determining the value of currencies against the US dollar

US consumer prices rebound in July, trend consistent with ease in inflation

The consumer price index increased 0.2 per cent last month after falling 0.1 per cent in June, the Labor Department's Bureau of Labor Statistics said

Imports from China up 13% to $10.2 bn, exports dip 9.44% to $1.5 bn in July

The country's exports also contracted to the UK, Germany, South Africa, Malaysia, France, Italy, Australia, Nepal, Brazil, Belgium, Turkey, and Indonesia during the month

India's exports dip 1.2% to $33.98 bn in July, imports up by 7.45%

The trade deficit, or the gap between imports and exports, during the month under review stood at $23.5 billion

UK inflation rises 2.2%, remains slightly less than expected in July

When the BoE cut interest rates from a 16-year high of 5.25 per cent at the start of this month, it said May and June's 2 per cent inflation readings probably marked a low point for inflation

MSMEs to get Rs 15,000-crore subsidy to boost recycling, efficiency

Set to launch by early 2025, the initiative will focus on establishing material recovery facilities (MRFs) and managing the treatment of post-consumption products

Govt likely to extend import regime for laptops, IT hardware products

The system kicked in on November 1 to promote domestic manufacturing of these goods and reduce dependence, especially on China

Eighth Economic Census likely next year; data for seventh awaited

Centre asks states, UTs to submit funds and manpower requirements to start work on 8th Census

Results of first-ever service sector annual survey to be out by year-end

In 2019-20, the government had decided to conduct ASSSE on a regular basis on the lines of Annual Survey of Industries (ASI), which is done annually

Slowing consumer demand, growth risks fuel calls for interest rate cuts

The Reserve Bank of India has kept interest rates unchanged for more than 18 months, with Governor Shaktikanta Das saying last week that food prices remain a worry

Wish I could bring down taxes to nil, says FM Nirmala Sitharaman

But there are challenges to overcome and the country needs money for that, says the finance minister

Centre seeks legal path for labour codes amid state opposition: Report

The move comes amid West Bengal's hesitation to adopt the new labour codes which were introduced to improve the ease of doing business by the Centre

Sugarcane set to reclaim dominance as ethanol feedstock next year: Industry

Industry experts anticipate a shift back to sugarcane-based molasses as the primary feedstock for ethanol production next year, driven by expected surplus sugar supplies and calls to lift restrictions

India can become a $55 tn economy by 2047 with 8% growth: IMF exec director

IMF Executive Director Krishnamurthy V Subramanian noted the remarkable progress being made in financial inclusion through initiatives like the 'Pradhan Mantri Jan-Dhan Yojana'

India, Russia explore dynamic rupee-rouble rate to overcome trade issues

RBI deputy governor T Rabi Sankar and top officials of some public sector banks are visiting Moscow for a meeting of the India-Russia Joint Business Council for banking and finance

Women dominate manufacturing jobs in urban India, says Mospi report

Mospi report says women lead in agri sector in rural areas, but still face barriers to entering labour market

80th NSS round: Surveys soon on health, domestic tourism, and travel

The survey on health will build upon the 79th round of the NSS, which had covered only a few topics on health, in contrast to the latest round, which is expected to be more extensive

Net direct tax collection rises 22.5% to Rs 6.93 trillion till Aug 11

At Rs 4.47 trn, personal income-tax mopup outpaced corporation tax

Higher welfare spends will lead Maha to lower capital expenditure: Report

The fiscal deficit for FY25 is expected to come at 3 per cent as against the budget target of 2.5 per cent, India Ratings and Research said in a report