ECONOMY
Centre to borrow Rs 5.03 lakh crore in H2FY22; yearly borrowing target on track to be met
During the first half, the government borrowed Rs 7.02 lakh crore though securities or G-Secs, the Finance Ministry said in a statement on September 27.
ECONOMY
EXCLUSIVE | Budget looks to provide relief to MSMEs, may relax NPA classification norm
The Centre is considering easing NPA classification period to between 120-180 days from 90 days, thus making permanent a measure adopted during the pandemic and the nationwide lockdown, a top government official told Moneycontrol. The person added that such a move would require legislative changes.
BUSINESS
Captains' View | India Inc wants focus on public spending, manufacturing sector, finds out CII-Moneycontrol CEO Budget Survey
The poll was conducted by the Confederation of Indian Industry (CII), India’s oldest and largest industry body, exclusively for Moneycontrol. It took responses from more than 80 CEOs of the country’s top business houses. In it, the corporate honchos laid down their expectations from the government in and beyond the Union Budget 2021-22, as well as their thoughts on the economy in 2021.
TELECOM
Cabinet approves spectrum auction; to take place in March
After four years, the government is set to auction telecom spectrum, at a time when receipts from such auctions are much needed when tax and other sources of revenue are hit due to COVID-19.
BUSINESS
EXCLUSIVE | Budget 2021 may allot up to Rs 80,000 crore for Covid-related spend
Additionally, the Narendra Modi government is learnt to have accepted the recommendations of the Fifteenth Finance Commission (15th FC) on the health sector. The recommendations, which will be made public along with the budget, likely include nearly doubling India’s combined public health expenditure as percentage of GDP, and creating a dedicated central cadre of medical professionals.
BUSINESS
States willing to borrow need not wait for GST Council decision, says govt official
The Centre has not ruled out further stimulus and no decision has been taken as to whether the finance ministry will challenge the Vodafone tax verdict or not, says the top official
ECONOMY
RBI offers ‘indirect monetisation’ route to states to help with their stretched finances
The RBI’s decision to purchase state bonds in the secondary market through open market operations will provide a boost to the states’ finances at a time when they, just like the centre, are having to deal with a massive revenue crunch and rising expenditure commitments
BUSINESS
GST Council allows small businesses to file returns on quarterly basis
Small taxpayers having aggregate annual turnover of less than Rs 5 crore will be able to file returns on a quarterly basis with monthly payments from January 1, 2021
BUSINESS
Exclusive | Government set to announce fiscal stimulus package ahead of festive season
Centre weeks away from announcing measures aimed at boosting demand and creating jobs. Plans include an urban job scheme and a massive infrastructure push.
