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  • PLI scheme will boost local production of white goods, says industry association Nov 11, 2020 07:15 PM IST

    PLI scheme will boost local production of white goods, says industry association

    PLI scheme will help set up local manufacuring facilities for appliances like air conditioners as also products like LED lights.

  • Major state governments to cut capex by up to Rs 2.7 lakh crore in FY21: ICRA Nov 11, 2020 06:27 PM IST

    Major state governments to cut capex by up to Rs 2.7 lakh crore in FY21: ICRA

    The debt burden is expected to rise by Rs 7.3 lakh crore in FY21 for just these states, compared to Rs 2.9 lakh crore in FY19. Twelve large states' finances were assessed through a model drawn up by ratings agency ICRA.

  • Government approves Rs 1.46 lakh crore PLI scheme for 10 sectors; here are the details Nov 11, 2020 05:06 PM IST

    Government approves Rs 1.46 lakh crore PLI scheme for 10 sectors; here are the details

    Moneycontrol had in September reported the government was considering widening the Performance-Linked Incentive scheme. Apart from pharmaceuticals and medicines, the government also notified a PLI for the electronics and mobile phone sectors.

  • Green shoots of recovery visible in retail business, but yet to reach last year's levels: RAI Nov 11, 2020 04:56 PM IST

    Green shoots of recovery visible in retail business, but yet to reach last year's levels: RAI

    In October, apparel and clothing sales saw 35 percent decline, while beauty, wellness and personal care witnessed a 55 percent dip in sales. Footwear category also clocked 30 percent decline, while quick service restaurants saw a degrowth of 35 percent.

  • Income Tax refunds worth Rs 1.32 lakh crore issued to 39.75 lakh taxpayers Nov 11, 2020 03:27 PM IST

    Income Tax refunds worth Rs 1.32 lakh crore issued to 39.75 lakh taxpayers

    This include Personal income tax (PIT) refunds amounting to Rs 35,123 crore and corporate tax refunds amounting to Rs 97,677 crore during this period.

  • 2 crore construction workers get Rs 5,000 crore as relief during pandemic: Santosh Gangwar Nov 11, 2020 03:24 PM IST

    2 crore construction workers get Rs 5,000 crore as relief during pandemic: Santosh Gangwar

    He was speaking at a felicitation function organised here by the labour ministry on Wednesday to acknowledge the efforts put in by ''Corona Warriors'' of Chief Labour Commissioner (Central) Office, Employees'' Provident Fund Organisation (EPFO) and Employees'' State Insurance Corporation (ESIC) to redress the problems of workers.

  • Goldman Sachs reiterates its India 2021 GDP growth forecast at 10% Nov 11, 2020 03:20 PM IST

    Goldman Sachs reiterates its India 2021 GDP growth forecast at 10%

    In September, the bank had forecast India's 2021 calendar year growth at 9.9 percent and financial year 2021-22 at 15.7 percent. GS expects these projects to hold, making India the fastest growing major economy in the world.

  • In the east, Chinese incursion in India’s festive season sales continues unchecked—Part III Nov 11, 2020 03:09 PM IST

    In the east, Chinese incursion in India’s festive season sales continues unchecked—Part III

    ‘Buy local’ and ‘Boycott China’ may be the slogans of the season, but Chinese products are packed to the rafters in the large wholesale and retail stores in Mumbai’s Crawford Market and Kolkata’s Burrabazaar. This is the concluding part of a three-part series.

  • Farm income may drive tractor sales volume 10-12% this fiscal : Crisil Nov 11, 2020 02:59 PM IST

    Farm income may drive tractor sales volume 10-12% this fiscal : Crisil

    This growth is expected to be driven by higher farm income despite the COVID-19 pandemic, and the demand growth is expected to be particularly strong in the southern and western parts of India given higher kharif sowing and a copious monsoon, both of which are crucial for these regions, Crisil said in a release.

  • Budget 2021-22 | Government receives recommendation for uniform 5% GST on manmade fibre Nov 11, 2020 02:07 PM IST

    Budget 2021-22 | Government receives recommendation for uniform 5% GST on manmade fibre

    Centre has begun its Budget 2021-22 exercise and is holding consultations with various sectors and stakeholders. It has also been recommend that the threshold for the 5 percent slab should be increased from Rs 1,000 per piece to Rs 2,000 per piece for apparels and clothing

  • Sweets, dry fruits are out; therapy, fitness trackers are in as Diwali gifts at India Inc amid WFH Nov 11, 2020 01:07 PM IST

    Sweets, dry fruits are out; therapy, fitness trackers are in as Diwali gifts at India Inc amid WFH

    The upheaval caused by Covid has meant there is a nearly 50 percent drop overall in corporate spends on Diwali gifting. Within companies that are offering gifts, the focus is on personalisation.

  • Alibaba Singles Day sales hit $56 billion with record peak of 583,000 orders per second Nov 11, 2020 11:57 AM IST

    Alibaba Singles Day sales hit $56 billion with record peak of 583,000 orders per second

    This is being viewed as another indicator of China’s “economic rebound” from the pandemic after the coronavirus emerged in Wuhan last year, as Alibaba is not the only player seeing big numbers

  • India revives plans to offer incentives for 6 million tonnes sugar exports Nov 10, 2020 08:00 PM IST

    India revives plans to offer incentives for 6 million tonnes sugar exports

    The government is again considering giving incentives to mills to export 6 million tonnes of sugar in 2020-2021, but it has yet to agree the amount of subsidy, said two government sources, who didn't wish to be identified in line with official rules.

  • Centre may announce PF subsidy for companies hiring more employees Nov 10, 2020 02:59 PM IST

    Centre may announce PF subsidy for companies hiring more employees

    Proposal may be included in the next stimulus package. An existing company may be asked to add at least two new recruits if it has 50 or fewer employees. If it has more than 50 employees, then, at least five new recruits may be have to be added to avail of this subsidy.

  • Explained: Here’s how campus placements amidst lockdown will work this season Nov 10, 2020 01:22 PM IST

    Explained: Here’s how campus placements amidst lockdown will work this season

    Whether it is a well-known company or a startup that is looking to hire engineers and MBAs, the first step is to make a company presentation in front of the graduating batch. Since no face-to-face interaction is possible, institutes are expecting a three-round-interview against the average single-round interview this time.

  • Exports show signs of improvement, up 22.47% during November 1-7: Official Nov 10, 2020 11:15 AM IST

    Exports show signs of improvement, up 22.47% during November 1-7: Official

    Imports in November (1st - 7th) this year too increased by 13.64 percent year-on-year to USD 9.30 billion as against USD 8.19 billion, the official said.

  • India to be key driver of global oil demand in coming decades: Oil minister Dharmendra Pradhan Nov 10, 2020 08:00 AM IST

    India to be key driver of global oil demand in coming decades: Oil minister Dharmendra Pradhan

    In October local sales of gasoline, gasoil and cooking gas in India, the world's third biggest oil consumer and importer, rose from year-ago levels, Mr Pradhan said oil conference ADIPEC.

  • Signs of good times: Life insurers see 32% growth in new premium in October; non-life insurers see green shoots Nov 09, 2020 09:36 PM IST

    Signs of good times: Life insurers see 32% growth in new premium in October; non-life insurers see green shoots

    LIC beat the private life insurance industry by posting 36 percent YoY growth in new premium in October 2020

  • CAI estimates cotton output for 2020-21 at 356 lakh bales Nov 09, 2020 07:11 PM IST

    CAI estimates cotton output for 2020-21 at 356 lakh bales

    During the 2019-20 crop year, the total cotton production stood at 360 lakh bales, CAI said in a statement. Crop year begins from October 1.

  • Deep into festive season, economic indicators show resilience Nov 09, 2020 05:54 PM IST

    Deep into festive season, economic indicators show resilience

    Even as Covid-19 cases continue to surge, policymakers can take heart from the fact that a number of high-frequency indicators show signs of resilience, pointing towards overall economic recovery in the country. Moneycontrol takes a look at some of these economic indicators

  • India has handled COVID-19 well considering its population: SBI group chief economic advisor Nov 09, 2020 05:00 PM IST

    India has handled COVID-19 well considering its population: SBI group chief economic advisor

    Soumya Kanti Ghosh pegged estimated cases higher than actual cases, in a new State Bank of India report. Uttar Pradesh, Bihar and Gujarat were among the best-performing states.

  • 15th Finance Commission submits report to President Ram Nath Kovind Nov 09, 2020 04:40 PM IST

    15th Finance Commission submits report to President Ram Nath Kovind

    The report titled 'Finance Commission in Covid Times' was submitted by N K Singh along with members of the Commission — Ajay Narayan Jha, Anoop Singh, Ashok Lahiri and Ramesh Chand.

  • Edelweiss Tokio Life launches COVID-19 insurance product Nov 09, 2020 04:32 PM IST

    Edelweiss Tokio Life launches COVID-19 insurance product

    No medical tests will be conducted for buying the product and the starting premium is Rs 5,329 for the one-year product.

  • Haryana shocker: Students cry foul as State government hikes MBBS fee by 66%; introduces up to Rs 9.2 lakh yearly bond Nov 09, 2020 02:52 PM IST

    Haryana shocker: Students cry foul as State government hikes MBBS fee by 66%; introduces up to Rs 9.2 lakh yearly bond

    Haryana MBBS Fee Hike: The total fees for the four-year course have shot up to Rs 3.7 lakh from Rs 2.24 lakh

  • Here’s why junior college admissions, affecting 3 lakh students, are stalled in Maharashtra Nov 09, 2020 01:12 PM IST

    Here’s why junior college admissions, affecting 3 lakh students, are stalled in Maharashtra

    The Maharashtra SSC Board Examination results were announced on July 29. The admission process would have started on August 30. A SC stay order in a case pertaining to socially and economically backward castes has stalled the process for now.

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