Page 381 - Economy

NFRA second inspection of Big five firms shows signs of improvement

One of the more serious issues raised by the NFRA in its report is about violation of Section 144 of the Companies Act, which prohibits firms from providing certain non-audit services to audit clients

Odisha okays investment proposal worth Rs 903 cr in renewable energy sector

The SWC of Energy Department led by Principal Secretary Vishal Kumar Dev cleared the investment proposals with an aim to meet the state's RE target of 10 GW by 2030

Banks' LCR declines to 130% from 135% between September, March: RBI

The RBI report says that banks' efficiency indicators weakened due to rising staff costs and increased cost-to-income ratio

GST suppliers giving discounts must ensure undertaking from client: CBIC

Currently, there is no mechanism to track whether the Input Tax Credit (ITC) on such discounts has been reversed or not

Major GST relief for foreign holding cos in intra-loan transactions

18% GST on additional fees, other considerations on providing loans

India imposes anti-dumping duties on three Chinese products

These duties were imposed following a recommendation by the commerce ministry's directorate general of trade remedies

MSME ministry targets onboarding 500,000 micro, small enterprises on ONDC

Addressing an event on International MSME Day, Manjhi said MSMEs will be a key force in the movement towards Atmanirbhar and Viksit Bharat

Above normal monsoon in 2024 can ease pressure on food prices, says RBI

The report said that in the current economic landscape, several positive factors are contributing to a promising outlook

RBI revises framework for currency swap arrangements with Saarc countries

Under the framework, the RBI will enter into bilateral swap agreements with SAARC central banks that wish to utilise the swap facility

CBIC clarifies on taxability of salvage value in motor insurance claims

General insurers have to pay GST liability in case of disposal or sale of the salvage after settling the claims

ESOPs by foreign cos to employees of India unit not to attract GST: CBIC

The clarification forms part of the 16 circulars issued by the Central Board of Indirect Taxes and Customs (CBIC), following the meeting of the GST Council on June 22

Crude prices may remain higher at $85-100 in short term: S&P Global

OPEC countries have enough oil which can potentially cap any sharp price increases

'Narrowing trade deficit, rise in remittances aid current account surplus'

In the corresponding fourth quarter of 2022-23, the country's current account was also in deficit of $1.3 billion, which was 0.2 per cent of the GDP

CRISIL SME TRACKER: Road SME players' margins may remain stable in FY25

In FY24, state spends are expected to go up further by 8-12 per cent as their percentage achievement of budgetary allocations are expected to be largely in line with historical average

Budget could stick to Rs 50,000 cr asset-sale, monetisation targets

IDBI stake sale could spill over to the next fiscal year

State-owned IIFCL plans to enter affordable housing segment soon

A wholly owned Union government company established in 2006, IIFCL provides long-term financial assistance to viable infrastructure projects

Growth in remittances to India may halve in 2024, says World Bank

India received remittances worth $120 billion in 2023, supported by strong labour markets in the United States and Europe

Worker groups demand social security fund for unorganised workers in Budget

The matter was also discussed with the finance minister Nirmala Sitharaman on Monday as central trade unions made representations as part of the pre-Budget consultation

FY25 GDP growth may come close to 7.5%: NCAER's Monthly Economic Review

Growth projections have been upgraded by various other agencies as well, with the median projection at 6.9 per cent

Budget 2024: Tech Inc for fewer tariffs, Rs 1 trillion deeptech fund

The tech industry body also recommended removing the 2.5 per cent tariff slab to enhance ease of business in the industry