BUSINESS
Govt may use bumper RBI dividend for faster fiscal consolidation, lower debt: Economists
By using the surplus funds strategically, the government can accelerate fiscal consolidation, reduce debt, and build a more resilient and sustainable fiscal position to not only improve fiscal metrics, but also lay the foundation for long-term economic stability and growth.
ECONOMY
Govt likely to shift CPI, IIP base year to 2022-23: Official
"2022-23 was a normal year. For CPI, IIP the base year needs to be changed. So 2022-23 will likely be the base year. The base year revision will happen within two years by FY27."
BUSINESS
Govt aims to adopt new base year for IIP, CPI by 2026-27: Official
An updated base year will ensure that policies, strategies, analysis, etc., are as per latest consumption and other trends.
BUSINESS
National Statistical Commission gets a new lease of life, govt appoints 2 members
Debasis Kundu and A Ganesh Kumar have been named as the new members of NSC, even as a panel reviews its methodologies
LOK-SABHA-ELECTION
Market cap of 81 PSUs zooms 225% in 3 years on capex, infra push: FM Sitharaman
Sitharaman's statement comes against the backdrop of rising allegations in the run-up to the elections that the PSUs were being dismantled and left in disarray in the current regime
LOK-SABHA-ELECTION
India’s Muslim population rose over 43% from 1950-2015: EAC-PM working paper
The paper is authored by EAC-PM member Shamika Ravi, Apurv Kumar Mishra, Consultant, EAC-PM and Abraham Jose, Professional, EAC-PM.
POLITICS
An expensive wishlist: Congress manifesto promises can cost the exchequer Rs 15 lakh crore
The party’s promises include a legal guarantee for MSP and Rs 1 lakh per year to poor households among others. Experts call it an ambitious wishlist.
LOK-SABHA-ELECTION
Iran-Israel conflict could delay withdrawal of windfall tax, review likely in July: Govt official
On being asked if the high government revenue collection seen in both direct and indirect tax provided scope to do away with the windfall tax, the official said: "That could have been done."
BUSINESS
All GST collections pocketed by Centre is a myth: FM Sitharaman
"Without GST, states' revenue from subsumed taxes from FY 18-19 to 2023-24 would have been Rs. 37.5 lakh crore. With GST, states' actual revenue amounted to Rs. 46.56 lakh crore."
LOK-SABHA-ELECTION
Congress’ Mahalakshmi cash transfer scheme could cost between Rs 2 lakh crore and Rs 5 lakh crore
A conservative estimate puts the government expenditure for the scheme at Rs 2.1 lakh crore per annum, which could go up to Rs 5 lakh crore depending on the number of poor families.
ECONOMY-2
Karnataka: A fast-growing economy, but poorer northern districts cause of concern
Karnataka is one of India’s most prosperous and industrialised states, here’s a snapshot of its economy. Home to Fortune 500 companies with Bengaluru emerging as a tech capital of the world, the state’s high growth is uneven. With some districts reporting low per capita income.
BUSINESS
FinMin reviews bankruptcy proceedings of Jaiprakash Associates, Arch Pharma Labs, other high-profile cases
Secretary of the Department of Financial Services, Vivek Joshi, asked banks to move forward in declaring defaults, so that companies can move towards the resolution process.
BUSINESS
MC Exclusive | Chidambaram pushed RBI to paint rosier picture of economy: Subbarao
India will become the world's third-largest economy but it needs to make sure that the benefits are widely shared with the people, said the former RBI governor.
LOK-SABHA-ELECTION
Exclusive: Govt likely to relax 45-day MSME payment rule in Budget
The options may include extending the 45-day period to 60 days and even revoking the Income Tax Act amendment introduced in the interim Budget earlier this year.
BUSINESS
Online gaming: Understanding the tangled web of taxes
The gaming industry hopes the GST council will offer relief by scrapping the retrospective part of the tax on online games. It also hopes for a review of the tax rate and the calculation methods. Moneycontrol explains.
BUSINESS
The Kerala Story: High on social indices, not so much on infra
The southern state has done splendidly in the last 20 years, but its infrastructure growth is lagging the rest of the country. In 2023-24, it allocated 2.1 percent of its total expenditure towards roads and bridges, which is sharply lower than the 4.5 percent average allocation by states.
BUSINESS
Above-normal monsoon rains likely to ease food prices, says finance ministry
In its monthly review, the department of economic affairs has warned against weather shocks, geopolitical tensions and their effect on oil prices
BUSINESS
Vegetable prices may stay elevated till June on above-normal temperatures: Crisil
Vegetable prices are characterised by prominent seasonality and high volatility. Vegetables are, in fact, the most volatile component of the Consumer Price Index (CPI).
LOK-SABHA-ELECTION
Excl: Govt to reconstitute committee to revise CPI, IIP base year after elections
The Advisory Committee on National Accounts (ACNAS) will have to be reconstituted as after October 19 last year, it has not held any meeting. The base year is 2011-2012 and an update has been pending since the pandemic years.
LOK-SABHA-ELECTION
No relief likely, GST from online gaming jumps five times: Government Official
Online gaming will not be discussed by the GST Council’s fitment committee but will be brought directly before the Council for review.
POLITICS
Exclusive: Modi Govt sets eight goals to improve statistics, data accuracy over next 5 years after elections
A base year change for inflation and IIP data, improving administrative data from ministries, overhaul of National Statistical Commission on cards.
BUSINESS
Exclusive: Major GST relief for foreign airlines, shipping lines on cards after elections
The move is expected to improve the ease of doing business in India for foreign airlines and shipping lines.
LOK-SABHA-ELECTION
NSO to prioritise ministry surveys in first 100 days after elections: Official
A number of ministries including agriculture, commerce, labour, tourism and health have sought for additional surveys. Steering committee, formed by the National Statistical Commission, will take a decision on these in a meeting next week.
BUSINESS
Exclusive | Insurers to breathe easy as GST may be lifted from reinsurance after elections
The industry practice should not be disrupted as the insurer is already paying up the entire GST on the premium and then some premium is being passed on to another insurance company as reinsurance
