TRENDS
MC Daily Monsoon Tracker: 17 states receive normal rainfall, kharif sowing largely unchanged
India received 2.26 percent above normal rainfall as of July 29
BUSINESS
Southern states show the way on growth and poverty reduction
States like Andhra Pradesh, Tamil Nadu and Telangana were more successful in poverty reduction because of growth. While UP, Bihar and Madhya Pradesh made substantial reductions too. While Punjab’s slow per capita income growth between FY16 and FY23, has slowed poverty alleviation
TRENDS
MC Daily Monsoon Tracker: Kharif sowing just 2% higher as rains remain uneven
India received surplus rainfall for a sixth straight day on July 28, IMD data shows, but the spread continues to be uneven
BUSINESS
Flavour of department has changed from enforcement to taxpayer centric: CBDT chairman
Multiple litigations were not leading us anywhere, the procedures have been standardised, the chairman said.
TRENDS
MC Daily Monsoon Tracker: Rainfall surplus increases for fourth straight day
Ten states and union territories are experiencing a rainfall deficit
BUSINESS
India has high tax-to-GDP ratio given its per capita income: Revenue secretary
Formalisation would lead to increase in tax base and tax net, the revenue secretary said
BUSINESS
Core inflation decline may not be such a good thing: Economists
India’s services inflation declined 2.67 percent in June, its lowest level since 2011
BUSINESS
Mineral royalty revenue jumps 32% for states during FY17 to FY22
Odisha and Chhattisgarh have witnessed a 47% surge in revenues from mining
TRENDS
MC Daily Monsoon Tracker: Reservoir levels improve; rainfall surplus increases
Good spell of rain helps bring down reservoir level deficit to 4 percent below normal
BUSINESS
Formal employment picks up in May; new subscribers to EPF, ESIC rise
Subscriptions to the Employees’ State Insurance Scheme, which caters to relatively lower paid employees, jumped 40 percent to 1.7 million
BUSINESS
Labour and skill ministries' spend to double from previous decade
A major boost is expected to go towards skill development, where spending over the next half a decade is expected to 5.2 times higher than what was spent between FY16 and FY24
BUSINESS
Govt focused on becoming a more privatised economy: DIPAM Secretary on PSE policy timeline
Timeline of PSE policy has been moved up. Green initiatives by public companies can lead to IPOs by their subsidiaries if they reach a certain size
BUSINESS
PSU mergers overhyped; HR issues will lead to problems: DIPAM Secretary Tuhin Kanta Pandey
Mergers in the PSU space come with human resource management issues, in many cases, notes Pandey, it could lead to insurmountable problems.
BUSINESS
New real estate tax rules: who gains and who loses?
New real estate tax rules: Of the 20 scenarios analysed by Moneycontrol, taxpayers will face an additional tax burden under the new regime in 14 scenarios, while in 6, homeowners will benefit under the new rules
TRENDS
MC Daily Monsoon Tracker: India stays rainfall surplus for 2nd consecutive day
Rainfall surplus further improves to 1.31% as of July 24
BUSINESS
Data Innovation Lab announced by ministry of statistics and programme implementation to improve stats quality
Guidelines open door for creating sandboxing environment via outsourcing
BUSINESS
GST buoyancy expected to decline, but will stay above one, says CBIC Chairman
The ministry has set a target of increasing GST collections by 11 percent in FY25, against a GDP growth of 10.5 percent.
BUSINESS
Govt employee count rises for first time since FY19, spending per head also on the up
The average pay per government employee is, however, expected to drop, ending eight years of annual increases
BUSINESS
What did India search for on the Budget Day?
Karnataka, Haryana were more interested in knowing about the new tax regime, Andhra searched for gold
TRENDS
MC Daily Monsoon Tracker: India turns back to rainfall surplus after 2 weeks
Seventeen states now face normal rainfall conditions
BUSINESS
Private sector activity rises to three-month high of 61.4 in July: PMI data
Private sector activity had picked up in June from a five-month low of 60.5 in May
BUSINESS
Deficit targets achievable; sustained fiscal consolidation must for upgrades: Rating agencies
Economists have been contending that the government adhering to fiscal path will lead to a ratings upgrade by one of the three global ratings concerned within the next 18-24 months
BUSINESS
Economists laud Budget’s fiscal prudence, say opens path to ratings upgrade
India can fill the vacuum left by China if it emulates the strategy of double digit infra investment
BUSINESS
FM builds on Economic Surveys data approach in Budget
Budget bats for integration of databases
