BUSINESS
Centre to front-load devolution to states this month, says Finance Minister
Sitharaman said that there were key ideas from states like the way in which project approvals are given should be streamlined, and the need for better forums of dispute mechanism. There were also suggestions on trade policies for the North East and the need for off-shore wind energy generation, she said.
BUSINESS
Cryptocurrency Bill: Govt working on definition, tax treatment; cabinet nod to be sought soon
The Winter Session is likely to be held from November 29 to December 13, and one of the sticking points that needs to be sorted out before that is the tax treatment of the sector, Moneycontrol has learnt from sources. These issues are expected to be dealt with soon and that cabinet approval could be sought this month itself.
BUSINESS
Non-transparent advertising needs to stop, say govt sources after PM meet on cryptocurrency
This meeting came at a time when the Finance Ministry is working towards introducing a comprehensive bill to regulate cryptocurrencies, investors and exchanges in the winter session of Parliament.
ECONOMY
FM Nirmala Sitharaman to interact with CMs of states, UTs on Nov 15, will discuss capex, big-ticket infra projects
Finance Secretary TV Somanathan said there was a lot of positive sentiment from global investors regarding investment in infrastructure.
ECONOMY
Direct retail investment in g-secs will lead to financial inclusion and deepen capital markets: PM Modi
The RBI Retail Direct Scheme is aimed at enhancing access to government securities market for retail investors. It offers them a new avenue for directly investing in G-secs and state bons. Retail investors will be able to easily open and maintain their government securities account online with the RBI, free of cost.
ECONOMY
EXCLUSIVE | Budget 2022 likely to set target for asset monetisation
The Centre is said to be finalising an asset monetisation target for FY23. A senior government official said it could be over Rs 1 lakh crore
ECONOMY
Centre sees no impact on budget math from excise duty cut even as onus on opposition states to follow suit
The centre’s net tax collections (direct plus indirect taxes) for April-September 2021 were Rs 10.81 lakh crore, nearly double of the Rs 5.51 lakh crore that was garnered for the same period last year.
BUSINESS
Interview| Let's forget the history and move on, says IRCTC's CMD Rajni Hasija
In an interview with Moneycontrol, Hasija said that the company’s management has full powers to decide the rate at which the convenience fee can be charged for bookings tickets on its online platforms and that it’s now time to forget the past.
BUSINESS
Explained | The reasons behind strong GST collections
October GST collections were not only the second highest for the fiscal year, but the second highest monthly collections since the introduction of the nationwide tax in 2017.
BUSINESS
INTERVIEW | SBI's Soumya Kanti Ghosh: Real estate, construction have seen most formalisation
Speaking to Moneycontrol, Ghosh said that apart from sustained formalisation efforts by the government, the COVID-19 pandemic also played a part in shrinking the size of the informal economy.
ECONOMY
INTERVIEW | Ulka Kelkar: At COP26, India in unique position with much at stake
In an exclusive interview, Ulka Kelkar - Director-Climate, World Resources Institute India - takes Moneycontrol through the opportunities, challenges and responsibilities that make for India's unique position as it enters the 26th edition of the Conference of Parties (COP26).
ECONOMY
October GST collections Rs 1.30 lakh crore, second highest in 2021
The October GST print takes total gross GST collection for the year to Rs 8.12 lakh crore. All but one month in the current fiscal year (June, Rs 92,849 crore) have been comfortably above the Rs 1 lakh crore mark.
BUSINESS
Halloween horror: How railway officials spooked IRCTC investors
Here’s the lowdown on how a Railway Ministry decision aimed at earning Rs 500 crore revenue annually, on average, led to market cap worth Rs 18,000 crore being wiped out
MARKETS
Exclusive | DIPAM Secretary stresses on the interests of IRCTC's minority shareholders
It was Tuhin Pandey, and not the Ministry of Railways, who announced the reversal. “Ministry of Railways has decided to withdraw the decision on IRCTC convenience fee,” he tweeted.
ECONOMY
Govt reconstitutes Economic Advisory Council to PM, Rakesh Mohan inducted
Former Reserve Bank of India deputy governor Rakesh Mohan has been inducted into the seven-member body, along with TT Ram Mohan of the Indian Institute of Management, and Poonam Gupta, who heads the National Council of Applied Economic Research.
WORLD
COP26 Preview | Nations meet to act on climate amidst Covid-19 rupture
China’s mishandling of the initial Covid-19 infections may have alienated it and experts predict the talks could be even more contentious than earlier as the increasingly bipolar nature of global political summits pits China against the Western powers.
ECONOMY
Finmin begins hunt for next Chief Economic Advisor
A doctorate in economics or finance is desirable but not essential (a master's degree is essential), and the age limit is 56 years.
INDIA
PM Modi says 100-crore-vaccine achievement answers doubts about India's capabilities
"Questions were raised whether India will be effectively able to combat the pandemic. Whether we will be able to procure the vaccines and innoculate our population. This achievement has answered all those questions once and for all," the Prime Minister said.
BUSINESS
Exclusive | India warded off third wave because of vaccine drive, says Amitabh Kant
In an interview to Moneycontrol, the Niti Aayog CEO singles out Serum Institute of India for praise and also says it helps that India does not have a large number of anti-vaxxers
INDIA
'India scripts history,' PM Modi says, as nation reaches 100-crore COVID jab milestone
India’s stupendous 1 billion dose feat comes on the back of a slow start due to huge supply bottlenecks, vaccine hesitancy in the initial period and a crippling second wave of the pandemic.
ECONOMY
FinMin frets over extra expenditure as budget preparations begin
While the finance ministry is happy with strong tax collections on the back of a sustained economic recovery, the worry is that Covid-19 relief measures of the past six and a half months could take the fiscal deficit to 7.7 percent of GDP compared with a target of 6.8 percent.
INDIA
EXPLAINED | Fertiliser shortage before rabi sowing season in rice bowl
Farmers from some of the biggest agricultural states including Rajasthan, Punjab, Haryana and Karnataka are facing a severe shortage, mainly of Di-ammonium Phosphate (DAP) fertilizers.
BUSINESS
Analysis | As India enters festive season, economic recovery strengthens
Macroeconomic indicators show encouraging signs and consumption picks up, and policymakers and economists are now broadly confident the growth momentum will sustain, especially given that vaccinations continue at a brisk pace.
INDIA
Explained | Why PM Gati Shakti National Master Plan is crucial for infrastructure push
Launching the Gati Shakti initiative, PM Modi said that due to the wide gap between macro planning and micro implementation, problems of lack of coordination, lack of advance information, thinking and working in silos were leading to hampered construction and wastage of budget.
