ECONOMY
Government unlikely to opt for a cut in personal income tax rates
"A cut in personal income tax is unlikely in this year due to lack of fiscal space," a senior official told Moneycontrol.
ECONOMY
Reviving exports: Govt mulls measures to rationalise import costs, simplify norms
The government is considering simplification of export incentive schemes like Advance Authorisation Scheme. This scheme allows duty free import of inputs for export products
BUSINESS
Two new cities to be surveyed from next year for Ease of Doing Business rankings
"We have asked World Bank to add Kolkata and Bengaluru in the list of cities to be surveyed for the rankings," Finance Minister Nirmala Sitharaman said.
ECONOMY
Government mulls creating a new portal with more details on stressed assets
"The idea is to get better valuation for these stressed assets by increasing transparency," a govt official told Moneycontrol.
ECONOMY
Indian products need to be more "compatible" for greater access in China: Chinese official
ZHU Xiaohong, Counselor, Embassy of People’s Republic of China, said that the India should focus more on the '4Cs' -- compatibility, competitiveness, creativity and cooperation.
INDIA
Big-bang GST rate reduction unlikely for this fiscal year
In September, GST collections dropped sharply to a 19-month low of Rs 91,916 crore, mirroring a widening slowdown in the economy triggered by shrinking consumer demand.
BUSINESS
Ministry of Corporate Affairs begins inspection of HDIL's books of accounts
HDIL is at the centre of the crisis that hit Punjab and Maharashtra Cooperative (PMC) Bank as it had borrowed a substantial amount from the bank.
ECONOMY
Corporate tax rate cut: Higher PSU dividend payouts to help govt tide over fiscal slippage worries
The cut in corporation tax to an effective 25.17 percent is expected to boost profitability of PSEs and government-owned banks.
BUSINESS
Despite a looming threat of slippage, tax cuts may not upset fiscal math
The expected pick up in growth may help in meeting the fiscal deficit gap.
BUSINESS
Government announces new scheme worth Rs 50,000 crore to boost exports
The government also announced that a fully electronic refund scheme on input tax for exporters would be in place by end of September.
ECONOMY
Around 12-15 licences needed to start a hospitality venture: Report
The two major concerns of the hospitality and food services industries are prohibitive costs of starting a business and delays in obtaining licences and permits, the report said
ECONOMY
In India, an alcoholic beverage manufacturer needs 50 brand registrations to sell 5 products in 10 states!
The process of getting a label registered may take anywhere between 30-60 days.
INDIA
A better farmer-miller relationship can fetch higher prices for sugarcane: Report
"The complicated pricing mechanism has resulted in rising farmer dues. The miller alone cannot be held responsible for this," the report said.
BUSINESS
In India, an alcoholic beverage needs to be registered separately in every state of sale
The report identifies three interconnected sectors – sugar, alcoholic beverages, and tourism. The three specific sectors were chosen as all the three sectors are co-dependent
BUSINESS
India has invited RCEP-negotiating countries to discuss ways for a better trade deal: Piyush Goyal
Commerce and Industry Minister Piyush Goyal said India would keep the interests of its domestic industry paramount before signing a 16-member Asia-Pacific trade pact.
ECONOMY
To plug GST evasion, government may soon launch e-invoice provision
Businesses with a turnover exceeding a particular amount will have to generate electronic invoice either on a government portal or on the Goods and Services Tax (GST) portal.
BUSINESS
April GST collection expected to be highest ever at Rs 1.15 lakh crore
As many as 7.595 million GSTR 3Bs (summary returns) were filed till 31 March for February, against 7.348 million a month.
ECONOMY
Finance Ministry gives approval to set up a board to bring out a comprehensive gold policy
The board will regulate gold, silver, platinum, palladium and various other commodities that the government notifies.
BUSINESS
Cryptocurrency is a ponzi scheme and should be banned: Government official
The government had formed a panel under Finance Secretary Subhash Chandra Garg to draft regulations for cryptocurrencies last year.
ECONOMY
New CEA Subramanian's first Eco Survey may suggest big regulatory changes to solve agrarian distress
This is one of the bigger ideas that the economic survey this year would concentrate on - how to use technology and reduce regulations to bring markets closer to the farmers
ECONOMY
Economic Survey may give policy prescriptions for energy, logistics
This will be the first survey of authored by new Chief Economic Adviser (CEA) Krishnamurthy Subramanian and his team
ECONOMY
US opposition to India's 'developing country' tag unlikely to hold water
US has claimed that several members that have moved up on economic and social ladders are still enjoying preferential trade treatments
BUSINESS
RBI to seek EC nod for replacing quashed Feb 12 circular with new guidelines
The Supreme Court had quashed the earlier NPA resolution rules, also known as "February 12 circular", terming it as "ultra vires". The central bank may bring back previous restructuring programmes like the Sustainable Structuring of Stressed Assets or S4A
POLITICS
Manifestos: A look at how both BJP and Congress are trying to woo middle-class voters with tax proposals
In its 2019 election manifesto, Congress has promised to implement DTC within the first year of forming the government.
