Page 38 - Economy
No TDS on remunerations, salaries or commission paid to partners: ITAT
The ITAT ruled that there is no requirement under the IT Act for the deduction of tax at source by the partnership firm on remuneration to partners
 "No TDS on remunerations, salaries or commission paid to partners: ITAT")
Steady and cautious: What India's conglomerates are doing for capex push
Companies are reluctant to invest in new factories and plants when existing capacity is not fully utilised
 "Steady and cautious: What India's conglomerates are doing for capex push")
At 4% of GDP, household financial savings touch 30-year low; consumption up
In FY22, savings stood at 7.3 per cent. This fall in savings indicates an increase in consumption
 "At 4% of GDP, household financial savings touch 30-year low; consumption up")
NARCL gets Centre's blanket guarantee worth Rs 15,300 crore: Report
The banks will now be able to rely on government guarantees on the stop security receipts (SRs) issued by the NARCL during the liquidation proceedings
 "NARCL gets Centre's blanket guarantee worth Rs 15,300 crore: Report")
Electric cars getting too big and bulky, warns US safety regulator
Homendy called out General Motors Co.'s GMC Hummer EV as a particularly egregious example of the trend toward bigger, heavier vehicles, noting it tips the scales at more than 9,000 pounds
 "Electric cars getting too big and bulky, warns US safety regulator")
90% pledges by international community in form of 'loans': Pak minister
Pak's finance minister said that almost 90 per cent of pledges made by the international community for the flood-hit country were project loans that will be rolled out over the next three years
 "90% pledges by international community in form of 'loans': Pak minister")
Hospital sector likely to post healthy growth in FY23: ICRA report
Aggregate bed occupancy seen at 64% due to 'sustained improvement in demand', says agency
 "Hospital sector likely to post healthy growth in FY23: ICRA report")
Why did the world's biggest ship choose to skip Indian ports completely?
Poor shipping connectivity has hindered India's integration into the global value chain, according to a RBI report in 2022. The country scored 34% in the GVC participation index
 "Why did the world's biggest ship choose to skip Indian ports completely?")
Maharashtra top performer on finances, social indicators, finds study
The rankings, released by CareEdge also painted a favorable picture of Gujarat, while India's most industrialised state of Tamil Nadu ranked third with an edge in social and governance categories
 "Maharashtra top performer on finances, social indicators, finds study")
Rates are out of tune for higher-income levels, need revisions
India is somewhere in the middle when taxation for the upper-income bracket is considered, but leaving tax rates untouched can translate into a heavier tax burden on the population
 "Rates are out of tune for higher-income levels, need revisions")
NITI Aayog to rank states on measures taken to increase farmers' income
The NITI Aayog is working on this project with other stakeholder ministries and has developed several indices to rank states annually on measurable parameters
 "NITI Aayog to rank states on measures taken to increase farmers' income")
Explained: Google-CCI saga and Competition Commission's shortcomings
With Google alleging that CCI copy-pasted an order passed by European Union's General Court, gaps in manpower and capacity at CCI have surfaced
 "Explained: Google-CCI saga and Competition Commission's shortcomings")
Prez Xi warns China officials to avoid 'collusion' with big business
He also warned against "any infiltration of capital into politics that undermines the political ecosystem or the environment for economic development"
 "Prez Xi warns China officials to avoid 'collusion' with big business")
Rupee at 1-month high; US data spurs bets of slower Fed rate hikes
RBI moves push up forward premia; reduce hurdles for currency
 "Rupee at 1-month high; US data spurs bets of slower Fed rate hikes")
India, Bangladesh unlikely to cut subsidy bill as elections near: Moody's
Average fiscal deficit to be 4% of GDP in 2023, says agency's Sovereigns--Asia-Pacific report
 "India, Bangladesh unlikely to cut subsidy bill as elections near: Moody's")
Bank customers scramble to renew agreement as new locker rules kick in
People have also complained about the divergence in the value of the stamp paper required for agreement renewal
 "Bank customers scramble to renew agreement as new locker rules kick in")
Philippines rushes to import onions as prices touch nearly Rs 1,000 per kg
The Philippines' agriculture department is planning to import 22,000 tons of onions to boost domestic supply as surging prices of the cooking ingredient push inflation to a 14-year high
 "Philippines rushes to import onions as prices touch nearly Rs 1,000 per kg")
Urgent action needed to dilute risk of downturn, says World Bank
Even without another crisis, global growth this year "is expected to decelerate sharply" the World Bank said
 "Urgent action needed to dilute risk of downturn, says World Bank")
Price stability top priority for South Asia: RBI governor Shaktikanta Das
'Approach to disinflation' needs to consider risks to growth outlook, says Shaktikanta Das
 "Price stability top priority for South Asia: RBI governor Shaktikanta Das")
Italy's inflation reaches 37-yr high in 2022, rises to 8.1% y-o-y
The 8.1 per cent annual inflation rate includes data from the early part of the year when inflation was still low
 "Italy's inflation reaches 37-yr high in 2022, rises to 8.1% y-o-y")
