Clipped from: https://www.thehindubusinessline.com/economy/excise-duty-mop-up-up-by-62-in-fy21-highest-during-modi-regime/article34719631.ece Petrol, diesel shore up govt’s revenues to ₹3.89-lakh crore The Centre has collected over ₹3.89-lakh crore through central excise duty during FY21; this
Category: Economy
Govt widens scope of Emergency Credit Scheme to help small businesses–business today
Clipped from: https://www.businesstoday.in/current/economy-politics/covid-19-impact-govt-widens-scope-of-emergency-credit-scheme-for-small-businesses/story/440375.html The govt widened the net of the Rs 3 lakh crore Emergency Credit Line Guarantee Scheme (ECLGS), which will now provide concessional loans
Startup India: 5.5 lakh jobs created under PM Modi’s pet scheme so far; 1.7 lakh in FY21 alone–business today
Clipped from: https://www.businesstoday.in/current/economy-politics/recognised-startups-created-17-lakh-jobs-in-fy21-says-centre/story/440764.html A total of 743 startups were recognised in 2016-2017, in the first year of the initiative, which has now increased exponentially to over
PLI scheme worth Rs 12,195 cr for telecom, networking equipment announced; here’s how to apply–business today
Clipped from: https://www.businesstoday.in/sectors/telecom/pli-scheme-rs-12195-cr-telecom-networking-equipment-announced-how-apply/story/440782.html Applicants can start the registration process for the scheme from June 1, 2021, at pli-telecom.udyamimitra.in. The application window will be open for 30 days
By 2025, there’ll be more internet users in rural India than urban areas: report–business today
Clipped from: https://www.businesstoday.in/current/economy-politics/by-2025-there-will-be-more-internet-users-in-rural-india-than-urban-areas-report/story/440776.html The internet adoption rate in rural parts of the country has grown 13 per cent to 299 million internet users over the past
Government forms expert group to provide recommendations on fixation of minimum wages – The Economic Times
Clipped from: https://economictimes.indiatimes.com/news/economy/policy/government-forms-expert-group-to-provide-recommendations-on-fixation-of-minimum-wages/articleshow/83200346.cms?utm_source=ETTopNews&utm_medium=HPTN&utm_campaign=AL1&utm_content=23Synopsis The expert group will be chaired by professor Ajit Mishra, director, Institute of Economic Growth and will have five members including DPS Negi
Revised ECLGS will help hotels, aviation sector, tour operators: Crisil – The Economic Times
Clipped from: https://economictimes.indiatimes.com/small-biz/sme-sector/revised-eclgs-will-help-hotels-aviation-sector-tour-operators-crisil/articleshow/83194306.cmsSynopsis It will also support build-up of healthcare infrastructure, mainly oxygen availability, in tier-2 and beyond cities and the hinterland, the report by leading
Cabinet secy-led panel wants PLI scheme revamp to boost manufacturing | Business Standard News
Clipped from: https://www.business-standard.com/article/economy-policy/cabinet-secy-led-panel-wants-pli-scheme-revamp-to-boost-manufacturing-121060300030_1.html Suggests institutional mechanism, regular hand-holding for firms A high-level committee headed by Union Cabinet Secretary Rajiv Gauba has suggested a revamp of the
Expect policy tightening only from September – The Financial Express
Clipped from: https://www.financialexpress.com/opinion/expect-policy-tightening-only-from-september/2263964/ RBI must bat for growth, ensure govt is able to borrow at affordable rate Any change to a neutral stance or any hike
Monetary policy must remain accommodative – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/opinion/monetary-policy-must-remain-accommodative/article34710357.ece As the space for fiscal stimulus is limited, monetary policy needs to play a critical role until the growth outlook improves With the
Why supporting MSMEs during Covid -19 will help socially backward groups? – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/economy/why-supporting-msmes-during-covid-19-will-help-socially-backward-groups/article34701707.ece?homepage=true Govt data show that such groups own almost 66% of MSMEs With State governments imposing restrictions and lockdowns to control the second Covid-19
Short-lived revival – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/opinion/editorial/short-lived-revival/article34701234.ece?homepage=true Restoration of consumer confidence key to reviving the economy this year There can be no denying that the 1.6 per cent provisional Q4
Fault lines in RBI’s surplus transfer to govt – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/opinion/fault-lines-in-rbis-surplus-transfer-to-govt/article34701274.ece?homepage=true The higher transfer is an attempt to lower the fiscal deficit, reduce borrowing cost and cushion the weak cash management The RBI’s account
E-way bill generation slows 35% over April – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/economy/e-way-bill-generation-slows-35-over-april/article34702234.ece?homepage=true …but some recovery seen during last 15 days, overall mobility also improved The average E-way bill generation in May dropped to nearly 35
Prioritising expenditure | Business Standard Editorials
Clipped from: https://www.business-standard.com/article/opinion/prioritising-expenditure-121060101581_1.html Govt must focus on providing relief to the needy at this point The national income data released on Monday showed that the economy
How RBI’s Resolution Framework 2.0 can help MSMEs tide over Covid mess; is Udyam registration required? – The Financial Express
Clipped from: https://www.financialexpress.com/industry/sme/how-rbis-resolution-framework-2-0-can-help-msmes-tide-over-covid-mess-is-udyam-registration-required/2263186/ For borrowers who had availed restructuring under Resolution Framework 1.0, RBI Governor Shaktikanta Das had allowed lenders to modify their plans to increase
Use fiscal leeway to boost spending – The Economic Times
Clipped from: https://economictimes.indiatimes.com/opinion/et-editorial/use-fiscal-leeway-to-boost-spending/articleshow/83153041.cmsSynopsis At the same time, the government managed to slip in outstanding dues to the Food Corporation of India and fertiliser producers into the
Non-banks’ NPAs may rise to 4.5-5 per cent by March 2022: Icra – The Economic Times
Clipped from: https://economictimes.indiatimes.com/industry/banking/finance/banking/non-banks-npas-may-rise-to-4-5-5-per-cent-by-march-2022-icra/articleshow/83147376.cms?utm_source=ETTopNews&utm_medium=HPTN&utm_campaign=AL1&utm_content=23Synopsis Icra Ratings said non-banks (NBFC and HFCs) will feel the stress of the second wave of COVID-19 and movement restrictions imposed by various
India’s GDP growth numbers hide more than they reveal – The Economic Times
Clipped from: https://economictimes.indiatimes.com/opinion/et-commentary/view-indias-q4-gdp-growth-numbers-hide-more-than-they-reveal/articleshow/83152609.cmsSynopsis The economy sprang out of technical recession in Q3 FY2021, and expanded by a revised 0.5% after reporting two consecutive quarters of de-growth
India Inc must contribute to the ‘stimulus’: Given bumper profits & cost-cuts of Rs 4 lakh crore, it could cut a cheque for the have-nots – The Financial Express
Clipped from: https://www.financialexpress.com/opinion/india-inc-must-contribute-to-the-stimulus-given-bumper-profits-cost-cuts-of-rs-4-lakh-crore-it-could-cut-a-cheque-for-the-have-nots/2262627/ The pandemic may have hurt thousands of small businesses and killed many MSMEs, but given their financial and management muscle, the larger corporations
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