Page 378 - Economy
India faces high debt, but sustainable for now: NCAER director-general
NCAER Director General Poonam Gupta said India's high debt levels are sustainable for now because of higher real or nominal GDP and as most of the debt is held in rupee
 "India faces high debt, but sustainable for now: NCAER director-general")
GST's revenue performance: Centre's sacrifice for cooperative federalism
Over the past few years, most commentators have rightly emphasised the tensions in Centre-state fiscal relations, pointing especially to the Centre's repeated recourse to non-sharable cesses
 "GST's revenue performance: Centre's sacrifice for cooperative federalism")
RBI moots rationalisation of norms for export, import transactions
According to draft norms, every exporter should furnish a declaration specifying the amount of the full export value of the goods or services
 "RBI moots rationalisation of norms for export, import transactions")
Priority sector tag needed for women-led rural enterprises: World Bank
Recommends institutional reforms to support growth and contribution of women's entrepreneurship
 "Priority sector tag needed for women-led rural enterprises: World Bank")
Heatwave grip on May consumption, base-year effect cool GST growth
Analysts suggest that while this does not signify a slowdown, it indicates a moderation in consumption, likely influenced by severe heatwave conditions prevailing in the country during May
 "Heatwave grip on May consumption, base-year effect cool GST growth")
Our decisions affect nation's economy: New CBDT chief to I-T officials
Ravi Agrawal, 59, took charge as the head of the administrative body of the direct taxes department in the Union finance ministry on Monday
 "Our decisions affect nation's economy: New CBDT chief to I-T officials")
Is India's economic growth really weak and could a repo rate cut boost it?
An external member of the MPC highlighted that India's economic growth is below potential, with weak consumption contributing to the slowdown
 "Is India's economic growth really weak and could a repo rate cut boost it?")
GST Council's key state panel for rate changes may face another revamp
In the last reorganisation of this panel, at the GST Council meeting on June 22, Bihar Deputy Chief Minister Samrat Chaudhary was appointed as its convenor
 "GST Council's key state panel for rate changes may face another revamp")
India's medical tourism gets booster shot from Bangladesh visitors
During the general elections, however, there has been a temporary lull in patients from Bangladesh as well as less visas were issued
 "India's medical tourism gets booster shot from Bangladesh visitors")
New projects in April-June down over 90% to lowest on record, shows data
Election quarter also marked by lower project completions
 "New projects in April-June down over 90% to lowest on record, shows data")
GST collection at Rs 1.74 trillion in June, but growth slows to 7.7%
Growth less than 12.4% recorded in April and 10% in May
 "GST collection at Rs 1.74 trillion in June, but growth slows to 7.7%")
Higher demand pushes hiring up as manufacturing PMI touches 58.3 in June
A figure above 50 in the index denotes expansion and that below signifies contraction
From Jan lows Russian oil rebounds to 45.4% of Indian crude imports in June
Russian volumes have surged amid shrinking discounts for the grades. Discounts averaged $10 per barrel on a delivered basis off Brent crude in mid-2023 compared to over $4 per barrel now
 "From Jan lows Russian oil rebounds to 45.4% of Indian crude imports in June")
UK election: FTA with India on manifesto agenda for both Tory, Labour
We will finalise FTA with India, alongside a deeper strategic partnership on technology and defence, reads the Conservative Party manifesto, spelling out the British Indian leader's vision
 "UK election: FTA with India on manifesto agenda for both Tory, Labour")
New base years for national accounts, macro indicators from Jan-Feb 2026
A base year is the reference year whose prices are used to calculate the real growth (minus inflation) in national income
 "New base years for national accounts, macro indicators from Jan-Feb 2026")
Global tax deal: With MLC deadline gone, DSTs may be reinstated on tech cos
Another tax expert, privy to the developments, added, "The EU countries may soon start asking US tech giants to pay the unpaid taxes soon if the deal is not reached"
 "Global tax deal: With MLC deadline gone, DSTs may be reinstated on tech cos")
GST: Reimagining input tax credit norms
One of the key aspects under GST is that tax should only be on the 'value addition'. Also, the legacy issue of 'tax on tax' will be eliminated
 "GST: Reimagining input tax credit norms")
At its lowest level in three years, German inflation eases to 2.5% in June
Economists pay close attention to German inflation data, as the euro zone's biggest economy publishes its figures before the euro zone inflation data release
 "At its lowest level in three years, German inflation eases to 2.5% in June")
GST reduced tax rates on household goods, brought relief to people: FinMin
GST, which subsumed about 17 local tax and cesses, was rolled out on July 1, 2017. The theme of the 7th GST Day is Sashakt Vyapar Samagra Vikas (empowered trade overall growth)
Oil marketing companies slash commercial LPG cylinder prices by Rs 30
Commercial LPG cylinder prices for July have been further cut by Rs 30, after being reduced by Rs 70 in June. Its aimed at providing relief to enterprises in the food and hospitality industries
 "Oil marketing companies slash commercial LPG cylinder prices by Rs 30")