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  • India’s government plans to bridge the gaps in employment data by next year, with officials gathering details on the job status of about half a billion workers to improve policy making, according to people familiar with the matter.

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  • Vodafone has filed an application with the Indian government to settle its tax dispute under the retrospective law, agreeing to indemnify it against any future claims, a top government official told ET.

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  • Data released on Tuesday by the National Statistical Office showed that India’s gross domestic product (GDP) grew 8.4% in the second quarter of this fiscal year as India moved towards recovery following the second wave of Covid-19 earlier this year.

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  • Data released on Tuesday by the National Statistical Office showed that India’s gross domestic product (GDP) grew 8.4% in the second quarter of this fiscal year as India moved towards recovery following the second wave of Covid-19 earlier this year.

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  • The government is pursuing strategic sale in 22 firms of which 17 are ongoing transactions including BPCL NSE (1.59 %), Shipping Corporation of India, Concor (NSE 3.62 %) and BEML (NSE -2.76 %).

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  • India's business resumption raced ahead, touching a new high on the back of continued moderation in Covid cases and mobility returning to pre-pandemic levels, a private tracker showed.

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  • Data was expected to show that India's economic recovery strengthened in the July-September quarter, helped by a pick-up in consumer spending, though the spread of the Omicron coronavirus variant raised fears for the future.

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  • India could exclude some key strategic sectors, such as aviation, telecommunications and critical infrastructure services, from the cross-border insolvency framework’s ambit.

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  • The government is likely to involve individuals in a voluntary effort to subsidise the pensions of unorganised workers, on the lines of the 'Give it up' campaign that targeted the well-off to discontinue subsidies on cooking gas, in favour of those that needed it most.

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  • The proposal for a central bank digital currency (CBDC) backed by the country’s banking regulator may be included in the upcoming bill to regulate cryptocurrency, a top government official told ET.

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  • Wayward and excess rains have resulted in the ongoing spike in vegetable prices, and the cost of tomatoes will continue to be at elevated levels for two more months, Crisil Research said on Friday. The situation in Karnataka, one of the major tomato growing regions, is so "grim" that the vegetable is being sent from Maharashtra's Nashik, it said, pointing to on-ground interactions.

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  • India could tax only the large foreign shareholders of domestic companies that list directly on overseas exchanges, and such listing may initially be limited to select jurisdictions including the International Financial Services Centre at GIFT City in Gujarat.

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  • Indian mangoes such as Dussehri and Langda may again find space in American stores, with the US likely to start accepting testing certificates issued by agencies here, a senior government official said on Tuesday, even as the two sides decided to draw up timelines to resolve various outstanding trade issues in three to 12 months.

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  • The Joe Biden administration will seek to build a new "collaborative approach" on trade with India that will respect each other's "sensitivities" and "political requirements", instead of "locking horns" which makes it a "tug of war" or a "zero sum game", US Trade Representative Katherine Tai told ET in an interview.

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  • The government’s decision to repeal the three farm laws has left a question mark on the National Mission on Oilseeds for which the edible oil industry has been clamouring for long.

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  • The government's decision to repeal the three farm laws could delay already slow-moving labour reforms, but privatisation, asset monetisation and broader economic reforms may not see much impact, said bureaucrats and economists.

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  • US Trade Representative Katherine Tai on Monday called for a collaboration on "worker-centric policies" with India in bilateral trade talks, and said she intended to "make progress" on issues raised by American businesses, including market access restrictions, high tariffs, and restrictive digital trade measures.

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  • Now that Prime Minister Narendra Modi has sacrificed his poorly designed makeover of India’s farms at the altar of electoral math, there will perhaps be no fresh attempt at reform for a decade. That’s a shame for urbanization.

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  • Union commerce & Industry minister Piyush Goyal asked the stakeholders of the tea industry to submit an elaborate proposal concerning all aspects involving the various sectors of the industry so that it can be examined in depth for further action.

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  • As delivery of Russia’s S-400 missile defence system to India begins, a top US think tank has warned that sanctions against New Delhi under US law could trigger a blowback and set India-US ties back by a decade. In its report, Stimson Center has suggested that the US should either apply full waiver or only light and symbolic sanctions.

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  • The Maharashtra government’s town planning authority, the City and Industrial Development Corporation (CIDCO), has decided to adopt certain provisions of the recently introduced Unified Development Control Promotion Regulations (UDCPR) for rapid and efficient development of the Navi Mumbai Airport Influence Notified Area (NAINA).

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  • India, the world's largest recipient of remittances, received USD 87 billion in 2021 with the United States being the biggest source, accounting for over 20 per cent of these funds, according to the World Bank.

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  • Finance minister Nirmala Sitharaman on Wednesday exhorted India Inc to start taking risks and begin investing in new capacity, while asserting the need for the country to become self-reliant after the pandemic highlighted the risks of dependence on imports.

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  • Many investors who invest or trade frequently in cryptocurrencies are rushing to their advisors to figure out the tax implications of their investments, even as the government looks to introduce a legal framework around cryptocurrencies.

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  • Ahead of a key ministerial conference, the World Trade Organization (WTO) is likely to float a revised draft text for a possible agriculture package to break the deadlock in farm talks at the meeting later this month.

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  • The government has begun work on measures to improve India's ranking on the global hunger index after the country slipped to 101 from 94 in ranking. The government is considering carrying out a food consumption survey, last done in 2012 to get updated data on consumption patterns across the country.

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  • The government is unlikely to shut the door on cryptocurrencies and instead take a nuanced approach. They may not be permitted as currency to settle transactions and make payments but could be held as an asset like shares, gold or bonds.

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  • With the fast growing fashion industry in the country, India has the potential to become the fashion hub of the world, Union Minister Piyush Goyal has said. The minister said that the spirit of self-reliance can be channelised by helping weavers and artisans get their rightful dues.

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  • The central bank is likely to approach the Centre to secure tax benefits for retail investments in sovereign securities under the Retail Direct Scheme (RDS), which takes India into an elite club of nations democratising ownership of government debt.

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  • The Economic Survey for 2021-22 is likely to have only one volume comprised largely of data for the fiscal year across sectors and will not have the policy prescriptions which form part of the main Volume-1 due to the absence of a full-time chief economic advisor (CEA).

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  • Goods and services tax authorities have started issuing notices to several companies, after uncovering a mismatch in tax credits using deep analytics tools embedded in the GSTN software.

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  • India has rejected the latest draft text on fishery floated by the World Trade Organization (WTO) this week, saying it is imbalanced, weak and unfair, and doesn't address New Delhi's concerns on food security and livelihood of small fishers, instead favouring developed nations.

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  • The International Finance Corporation, the private finance arm of the World Bank, could step up its annual allocation to India to $3 billion from $2 billion now, its regional vice president for Asia and Pacific, Alfonso Garcia Mora, told ET.

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  • The manufacturing sector posted its best performance in eight months in October, helped by robust festive demand and solid exports, a private survey showed.

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  • Some conglomerates, banks, and companies may face additional taxes under the Goods and Services Tax (GST) on their intangibles, such as goodwill, brand, logo fees and even franchise fees paid by them, following a recent adjustment in tax rates.

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  • Global private equity firm Partners Group Holding AG will not shy away from rich Indian valuations as it looks to aggressively expand its footprint in the world’s second largest democracy, said a senior company executive.

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  • Steel manufacturing firms from Russia are expected to make investments in India under the production-linked investment (PLI) scheme for specialty steel, according to an official. Mukesh Kumar, the Director of Steel Research & Technology Mission of India (SRTMI)

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  • There has been more than 60 per cent decline in the crop insurance claims of farmers at Rs 9,570 crore under the Pradhan Mantri Fasal Bima Yojana (PMFBY) for the 2020-21 crop year from the previous year as there were no major crop losses, according to official data.

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  • The Ministry of Labour and Employment has revised the rate of variable dearness allowance for 1.5 crore central sphere workers. The hike, which will be effective from October 1, will result in an increase in the minimum wages for central sphere employees and workers.

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  • The government has reappointed Shaktikanta Das, Reserve Bank of India’s governor since December 2018, for another term of three years to ensure continuity when Asia’s second largest economy is on its way to recovery from severe contraction caused by the pandemic.

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  • As the second wave of Covid-19 eased off, business sentiment in the country hit an over two-year high in the September quarter (Q2) of the current financial year (FY22), according to a survey by the National Council of Applied Economic Research (NCAER).

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  • Finance Minister Nirmala Sitharaman on Tuesday said the government’s social protection and economic stimulus packages, along with timely structural reforms in various sectors, have been pivotal in India’s economic recovery process.

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  • A formal search for the successor to Chief Economic Adviser Krishnamurthy V Subramanian has begun, with the Department of Economic Affairs (DEA) seeking applications for the post.

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  • India's natural rubber production is likely to fall sharply in October and November, as heavy rains have been disrupting tapping activity in the country's top producing southern state of Kerala, industry officials said on Monday.

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  • Reserve Bank Governor Shaktikanta Das said on Monday that fair and impartial auditing is essential for a resilient economy as it instils confidence among citizens\R.

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  • The government will soon set up a committee to frame India's first National Employment Policy with an aim to significantly push up employment generation in the country.

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  • India has proposed a rotation system for the appointment of officers to World Trade Organization (WTO) bodies to achieve balanced representation of members from different groups.

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  • The worst of the pandemic for the Indian job market could most likely be behind us, with recovery lying ahead. Blue collar hiring is seeing a significant uptick across job categories, especially in the delivery and retail segments.

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  • E-way bills in October are likely to surpass September levels with production picking up to meet rising demand during festive season, said experts. The uptick will further strengthen tax collections and economic recovery trends.

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  • The Central Board of Direct Taxes (CBDT) has issued refunds of over Rs 92,961 crore to more than 63.23 lakh taxpayers from April 1 to October 18, the Income Tax Department said on Thursday.

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  • Average electricity prices in the day ahead market reduced to Rs 4 per unit on October 19 after crossing Rs 16 per unit on October 11. The average market clearing price for October 20th delivery stood at Rs 5.3 per unit.

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  • The International Monetary Fund on Tuesday slashed this year's economic growth forecast for Asia and warned that a fresh wave of COVID-19 infections, supply chain disruptions and inflation pressures pose downside risks to the outlook, Reuters reported.

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  • The coal stock situation at thermal power projects has improved further as the number of non-pit head projects having less than four days of coal (supercritical stock) reduced to 58 on Monday from 69 a week ago, government data showed.

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  • Rising global commodity prices, led by crude, coal and metals, will shave a lot off the current account leading to higher imports and a rise in current account deficit, which is likely to print at 1.3 per cent of the GDP or USD 40 billion, up from 0.9 per cent surplus last fiscal, according to a brokerage report.

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  • The government has sanctioned non-productivity linked or ad hoc bonus for central government employees for fiscal year 2020-21. In an office memorandum, the Department of Expenditure under the Finance Ministry said.

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  • Financial stability is well taken care of in the RBI's flexible inflation targeting regime and it need not be a separate explicit monetary policy goal, according to a research paper by RBI economists.

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  • Export orders for food, handicraft and readymade garments have risen at least 15% year-on-year owing to the upcoming festival season in the US and a higher demand for Indian sweets and snacks during Diwali, said traders.

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  • Finance Minister Nirmala Sitharaman told global leaders and investors in an interaction in New York that India has undertaken several reforms to ease foreign investment in infrastructure, including fiscal benefits which have created opportunities for investors and industry in the country.

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  • Global investors and offshore funds entering India through Mauritius are betting that in a few weeks the tax haven will shed some of its stigma and come out of the 'grey list' of the Financial Action Task Force (FATF) - an intergovernmental policy body that monitors the colour of money by setting anti-money laundering standards.

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  • At least seven lenders, including Axis Bank, HDFC Bank and ICICI Bank are harnessing the GIFT City facilities to mark a robust Indian presence in the non-deliverable forward (NDF) currency derivatives market, potentially paving the way for eventual currency convertibility that's considered a draw-card for overseas investments.

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  • The rising commodity prices expose India to macro risks including on the already elevated inflation and growth fronts, a foreign brokerage said.

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  • The wholesale price-based inflation eased to 10.66 per cent in September, helped by moderating food prices even as crude petroleum witnessed a spike. WPI inflation remained in double-digit for the sixth consecutive month. In August, it was 11.39 per cent. In September 2020, inflation was 1.32 per cent.

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  • Work demand and employment provided under Mahatma Gandhi National Rural Employment Guarantee scheme fell to its lowest since the outbreak of the Covid-19 pandemic as recovery gained ground with hiring picking up across sectors.

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  • Prime Minister Narendra Modi on Wednesday launched the GatiShakti programme aimed at holistic governance through multi-modal connectivity between ministries and the Centre and state governments on development projects to ensure speedy completion by reducing red tape, lowering logistic costs and stop departments from working in silos.

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  • The cabinet committee on economic affairs (CCEA) on Tuesday approved nutrient-based subsidy rates for Phosphatic & Potassic (P&K) fertiliser for the rabi season, offering a net subsidy of ₹28,655 crore.

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  • The Indian economy is on course for a "fairly steady and sustainable recovery" as the chances of another major Covid outbreak have diminished thanks to the country's inoculation drive, finance secretary TV Somanathan said in an interview.

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  • Retail inflation across the country based on Consumer Price Index (CPI) fell to 4.35 per cent in September from 5.30 per cent in August, according to data released by the National Statistical Office (NSO). It is the lowest retail inflation recorded since April 2021.

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  • India may look at increasing tax on some goods and services in a step toward moving to a simpler structure with fewer rates, according to people familiar with the matter.

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  • American private investment firm Bain Capital, with investments of about USD 5 billion in Indian companies, is looking forward to investing "even more" in the country and the next decade will be very important for both India and the US to work together.

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  • India will have to abolish special economic presence (SEP) or “digital permanent establishment” rules introduced in May if the Organisation of Economic Cooperation and Development (OECD) tax deal comes through since unilateral measures, such as SEP and equalisation levy, can’t exist in the proposed tax regime.

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  • Indian consumers are ratcheting up buy-now-pay-later installment plans to purchase everything from washing machines to vacations online as the country’s longest festive season gets underway.

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  • The government is mulling delaying the imposition of customs duty on imported solar equipment or allowing extension of deadline for completion of domestic solar projects which are facing supply uncertainties from vendors in China.

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  • The Employees Provident Fund Organisation (EPFO) may soon credit the interest declared for 2020-21 in the accounts of 60 million subscribers, bringing some festive cheer to the salaried class.

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  • Companies are rushing to raise bond funds after the Reserve Bank of India took steps to cut easy money in its bi-monthly policy last week, resulting in an uptick in rates.

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  • Air India returns to Tatas after group puts in winning bid of Rs 18,000 cr

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  • K V Subramanian on Friday stepped down as Chief Economic Adviser after a 3-year tenure. He said he has decided to return to academia. He took over from Arvind Subramanian who had left due to personal reasons in June 2018.

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  • The Reserve Bank of India's monetary policy committee kept interest rates steady at record lows on Friday, as widely expected, but traders are awaiting its comments about inflation and liquidity normalisation for further clues on the outlook.

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  • The Reserve Bank of India’s monetary policy committee kept key interest rates unchanged, while retaining an accommodative stance to help revive the economy, which is facing a slowdown due to the coronavirus pandemic.

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  • Coffee producers have urged the Union finance minister Nirmala Sitharaman to restructure outstanding loans of Rs 5,000 crore, some of which have turned into non-performing assets (NPAs) and some are under stress, amid a financial crisis brewing in the sector.

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  • Nations grow at differing speeds and varied reasons are assigned as causal factors for the different growth potentials displayed by them; as measured by the Gross Domestic Product (GDP) metric.

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  • India’s unemployment rate fell sharply in September to 6.86% as against 8.32% in August as 8.5 million additional jobs were created last month with the majority of them created in rural India with construction activity picking up pace, the Centre for Monitoring Indian Economy said.

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  • Ahead of a key ministerial conference of the World Trade Organization (WTO) in December, the multilateral agency’s Director-General Ngozi Okonjo-Iweala is likely to visit India in the next few weeks.

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  • Higher oil prices and coal shortages risk fanning inflation and slowing economic growth in India ahead of a central bank meeting, while punishing the nation’s currency and bonds.

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  • International ratings agency Moody’s on Tuesday upgraded the outlook on India’s sovereign rating to ‘Stable’ from ‘Negative’ in a revision after nearly two years, taking off the table any risk of a downgrade in country’s rating to a junk status.

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  • Pradhan Mantri Ujjwala Yojana (PMUY) beneficiaries appear to be shrugging off the high cost of refills and maintaining the same level of annual consumption at around three cylinders a year.

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  • Housing sales jumped over two-fold at 32,358 units during July-September period across seven major cities as demand bounced back with unlocking of economic activities and lower COVID infections, according to property consultant JLL India.

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  • China’s energy crisis has highlighted weaknesses in one of President Xi Jinping’s top priorities -- energy security -- that could have ramifications for the power system for years to come.

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  • Speaker Nancy Pelosi provided House Democrats with a new Oct. 31 target date to pass the stalled bipartisan infrastructure bill, saying she backed off a pledge to bring the measure to a vote this week because it would have been defeated.

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  • RBI's addition of gold reserves from 2018 will help the sovereign rating of India, a research by Indian Institute of Management-Ahmedabad released on Friday said.

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  • The government has collected Rs 1,17,010 crore GST for the month of September which is 23% higher than the same period last year.

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  • India's manufacturing sector activities improved in September as companies benefited from strengthening demand conditions amid the easing of COVID-19 restrictions, a monthly survey said on Friday.

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  • Heavy rains caused by Cyclone Gulab in Telangana, Maharashtra, Gujarat, Madhya Pradesh and Chhattisgarh have damaged standing crops of soyabean, cotton, onion and urad at many places, at a time when the country has been looking forward to the new crop to tame commodity inflation.

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  • The government is looking to extend the newly announced tax neutralisation scheme- RodTEP to special economic zones and export oriented units. The department of revenue will soon set up a committee to work out the details, a senior government official said.

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  • Several exporters who had availed government schemes for lowering tax outgo against promised exports quantity have reached out to the government, seeking concessions citing continuing Covid-19 disruptions.

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  • The government is working to ensure balanced trade deals and is in talks with countries with which India has equitable trade interest, said commerce and industry minister Piyush Goyal.

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  • Rating agency Standard & Poor’s (S&P)  said high-frequency indicators suggest a strong rebound during the July-September quarter after a steep contraction in activity in the previous three months on the back of a severe Covid-19 wave.

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  • Aadhaar custodian UIDAI has slashed the price for authentication by customers to Rs 3 from Rs 20 per instance to enable entities leverage its infrastructure for providing ease of living to people through various services and benefits.

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  • Speaking to reporters at the Z-Morh tunnel site, Gadkari said his ministry is also building 20 tunnels of a total length of 32 km in Jammu and Kashmir and 11 tunnels of a total length of 20 km in Ladakh.

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  • The Finance Ministry has set up two committees of state finance ministers who would review current tax slabs and GST exempt items, identify potential evasion sources and suggest changes in IT systems.

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  • India and Taiwan are in talks on an agreement that could bring chip manufacturing to South Asia along with tariff reductions on components for producing semiconductors by the end of the year, people familiar with the matter said, a move that may spark fresh tensions with China.

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  • India could tweak the way it measures women participation in the overall workforce to bring it on a par with international standards and fully capture their contribution.

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  • The Department of Telecommunications (DoT) is likely to seek a clarification from the Supreme Court to determine whether satellite communications spectrum can be allocated without auctions, said an official.

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  • With an aim to boost industrial and manufacturing activity and to drive economic growth, leaders from India and Australia have partnered for prosperity. Under the business forum, Australia will provide skills, knowledge and technology in areas such as agrifood, mining, infrastructure, healthcare and education.

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  • Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade who was in New Delhi to launch CEPA negotiations with India told ET‘s Dipanjan Roy Chaudhury that a comprehensive and mutually beneficial agreement can be reached by December 2021

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  • The Goods and Service Tax (GST) investigation wing has asked field units to issue show cause notices in time-barred cases that are pending investigation and warrant so, after it found that notices have been issued in only a few cases of tax evasion and availing input tax credit fraudulently.

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  • The Asian Development Bank revised down India's economic growth forecast for the current fiscal to 10 per cent, from 11 per cent predicted earlier, citing the adverse impact of the second wave of the pandemic.

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  • The Organisation for Economic Co-operation and Development (OECD) has marginally lowered India's growth projection for the ongoing fiscal to 9.7%, a reduction of 20 basis points (bps)

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  • Commerce and industry minister Piyush Goyal said that in future, India can become self-reliant in the wood used for making agarbattis (incense sticks) by stopping its imports.

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  • The finance ministry will kick-start the exercise to prepare the annual Budget for 2022-23 from October 12 amidst signs of revival of the Indian economy hit hard by the COVID-19 pandemic.

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  • Cities offer agglomeration economies, thereby enabling more economic activities, better education, better healthcare and, overall, a better quality of life. This attracts people to cities in search of jobs and livelihoods.

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  • Foreign Direct Investment (FDI) is critically important for India to become a USD 5 trillion economy, Deloitte CEO Punit Renjen said while noting that over two-fifths of the 1,200 business leaders surveyed in the US, UK, Japan and Singapore are planning additional or first-time investments in India.

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  • India could further sweeten the deal for air conditioner and LED manufacturers chosen for the Production Linked Incentive (PLI) scheme for white goods, allowing investments made after April 1 this year to be eligible for benefits under the programme.

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  • International Finance Service Centre (IFSC) at Gujarat International Finance Tec (Gift) City, a Special Economic Zone (SEZ), was conceptualised to create an offshore jurisdiction in India.

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  • The Goods and Services Tax Council will today hold its first physical meeting since the start of the pandemic and is expected to take up issues such as inclusion of petroleum products within the tax ambit.

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  • Amazon.com, Microsoft and Cisco Systems are among technology giants lining up to harness data from India’s farmers in an ambitious government-led productivity drive aimed at transforming an outmoded agricultural industry.

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  • The drone PLI scheme which got the Cabinet approval yesterday will revolutionise the way business is conducted and impact many Indians and make their lives convenient.

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  • Indian Banks' Association or IBA has taken up reformation of the corporate lending system, dealing with issues like syndicate lending and multiple financing, said its chief executive Sunil Mehta.

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  • When Shah Rukh Khan, Virat Kohli or any other celebrity endorses a brand or a company, is the branding exercise only for the corporate head office or the whole organisation? That’s the question indirect tax authorities have started asking several companies.

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  • India is willing to collaborate with East Asian partners in the production of generic drugs and medical technologies used for treatment of Covid-19 patients, as also in the area of vaccines production,minister of state for commerce and industryAnupriya Patel said.

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  • India alone is home to 7 per cent (21GW) of the global coal project pipeline, which is 56 per cent of South Asia's total, a study showed on Tuesday, with the country moving slowly away from coal at a national level, however considerable progress is being made at the state level.

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  • The central banks of India and Singapore will link their digital payment systems for "instant, low-cost fund transfers", said the two sides on Tuesday, aiming to finish the project by July 2022.

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  • India’s headline rate of inflation eased in August as food prices cooled, boosting the case for the central bank to keep interest rates lower for longer to support economic growth.

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  • The Enforcement Directorate (ED) has arrested Rajiv Saxena, who is also an accused in the Rs 3,600-crore VVIP choppers deal case, over money-laundering linked to an alleged bank fraud,

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  • MSMEs are heralded as the new engine of growth for the Indian economy. They drive approximately 30% of national GDP, and their growth will be critical to the ambition of a $5 trillion economy. Yet the ominous clouds of financial constraints loom large over this sector of the economy

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  • Company liquidation as a “going concern”, instead of winding it up and selling the assets bit by bit, is gaining traction, as it helps fetch higher value for creditors while saving the livelihood of employees.

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  • Holding that 73 crore people of the country's population have received their vaccination, Finance Minister Nirmala Sitharaman on Sunday said vaccination was the only medicine to boost the economy as it allows people to conduct businesses regularly or farmers to carry out farming activity.

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  • "CBDT (Central Board of Direct Taxes) issues refunds of over Rs 70,120 crore to more than 26.09 lakh taxpayers between 1st April, 2021 to 6th September, 2021," the Income Tax Department tweeted.

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  • In a major victory for the debt-laden Reliance Group, ADAG, led By Anil Ambani, the Supreme Court has upheld an arbitral award that went in favour of the beleaguered group.

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  • Sugar prices improved around 9% in a month touching Rs 3,430/quintal ex-mill for S30 grade sugar. This was on the back of a strong demand for festivals and a relatively empty pipeline. Sugar from India is expected to be in demand this year.

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  • Contradictory rulings by the Madras High Court and an Authority for Advance Ruling (AAR) have created confusion over input tax credits in cases where the final product could not be sold in the market due to loss or damage amid the pandemic, experts said.

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  • The government is looking to make its flagship social security scheme for informal workers more attractive by offering a free accident cover or slashing the monthly contribution amount as new enrolments have slumped to an all-time low.

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  • A quantum leap in digital adoption and greater high-skilled exports have emerged as the newest drivers of economic growth and jobs in India, with the nation trying to catch up with China in terms of e-commerce penetration, according to economists at HSBC Holdings Plc.

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  • India's imports of edible oil could fall to their lowest in six years, contracting for a second straight year because of the coronavirus outbreak and demand squeezed by record prices, a senior industry official said on Wednesday.

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  • Vegetables in the food basket is the only segment not troubling the government with prices their lowest in the past 3-4 years, trade insiders said. Prices of almost all vegetables including daily staples like onions, tomatoes and potatoes are ruling between Rs 5/kg to Rs 20/kg at the wholesale markets.

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  • The Government of India has given a much-needed breather to the cash-starved Andhra Pradesh government, allowing it to raise Rs 10,500 crore through open market borrowing (OMB) for the first nine months of the ongoing financial year.

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  • The government has reiterated its stand in favour of traceability, making it clear that social media platforms like WhatsApp must "reengineer their platforms" if need be to help law enforcement agencies trace the origin of messages that are creating any law and order issue, official sources told ET.

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  • A scheme was launched Monday for the e-auction of office spaces, shops and commercial kiosks in Greater Noida, officials said. The last date of application submission is October 11, the Greater Noida Authority said.

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  • The government has so far procured nearly 890 lakh tonnes of paddy, an all-time high, at MSP in the current marketing year ending September for around Rs 1.68 lakh crore. This comes amid the ongoing farmers' protest at Delhi's borders.

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  • Textile traders in Surat are worried over pending payments of about Rs 4,000 crore from Afghanistan which have got stuck with the Taliban taking control of the country.

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  • Six years after setting up a platform for its toll road assets, Brookfield Asset Management is looking to cash out. The Canadian asset manager aims to sell Peak Infrastructure, valuing the vehicle at Rs 8,700 crore ($1.2 billion) inclusive of debt

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  • Citing data from the Comptroller and Auditor General (CAG), the combined revenue receipts were only 2% higher than the pre-Covid level of Rs 4.3 lakh crore but revenue spending increased by a sharper 14% to Rs 4.9 lakh crore from Rs 4.3 lakh crore pre-Covid.

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  • Union road transport and highways minister Nitin Gadkari on Thursday reached out to US insurance and pension funds asking them to invest in the country’s road sector

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  • The government is planning to define cryptocurrencies in the new draft bill that also proposes to compartmentalise virtual currencies on the basis of their use cases, three people aware of the development told ET.

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  • Insolvency and Bankruptcy Board of India (IBBI) chairperson MS Sahoo on Thursday pitched for a comprehensive and objective framework to assess the working of the insolvency law to make prompt course corrections.

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  • Export-Import Bank of India on Thursday said it has extended USD 40 million (around Rs 292 crore) worth of line of credit (LOC) to the Maldives government to provide finance for the development of sports infrastructure.

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  • Although less rainfall was received in August, regions that saw good rainfall up to July they were getting isolated rainfall everyday — though not of very large amounts. Therefore, I do not think there would be much impact on agriculture.

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  • Nitin Gadkari, the Union Minister for road transport and highways, has warned consultants that are involved in preparing project reports and supervising highway projects of major penal action in case of any structural issues or road accidents.

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  • IBBI Chairperson M S Sahoo on Thursday pitched for a comprehensive and objective framework to assess the working of the insolvency law to make prompt course corrections

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  • "Papad, by whatever name known, is exempt from GST vide Entry No. 96 of GST notification No.2/2017-CT(R). This entry does not distinguish based on the shape of papad. This notification is available at cbic.gov.in," the CBIC said in a late night tweet, which quoted Goenka's tweet.

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  • Finance, part of the Mahindra Group, today announced Raul Rebello as its new Chief Operating Officer (COO) with immediate effect. This is post the movement of Rajnish Agarwal to Mahindra Rural Housing Finance Ltd (MRHFL).

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  • The government collected Rs 1.12 lakh crore as goods and services tax (GST) for August 2021, making it the second consecutive month of revenues clicking higher than Rs 1 lakh crore, marking a clear trend of economic recovery

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  • With every other rating agency, expert and bank putting us on guard not to confuse the high GDP growth with ‘strong recovery’, here are the prominent projections of Q1FY22 growth numbers we await today.

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  • The economic toll from a deadly second wave of Covid-19 that swept through India last quarter doesn’t appear to be as bad as feared, with analysts still seeing the nation pulling off the world’s fastest growth this year.

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  • The Insolvency and Bankruptcy Board of India (IBBI) has proposed a code of conduct for the committee of creditors and measures to strengthen the regulatory framework for the liquidation process.

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  • The Nomura India Business Resumption Index (NIBRI) rose to 102.7 for the week ended August 29 from 101.3 the previous week, Japanese financial holding company Nomura said on Monday.

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  • Traders of dry fruits and spices in Mumbai and Delhi seemed relieved as consignments of raisins, small pistachios, apricot, figs, asafoetida and shah jeera from Afghanistan that were lying in transit at the Wagah border

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  • Exports from special economic zones (SEZs) grew by about 41.5 per cent to Rs 2.15 lakh crore during the April-June quarter of the current fiscal on account of healthy growth in pharmaceuticals, engineering, and gems and jewellery sectors,

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  • Businesses that have not filed GSTR-3B returns in the preceding two months will not be able to file details of outward supplies in GSTR-1 from September 1, GSTN has said.

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  • The government is now planning to hive off surplus land in an attempt to ramp up asset monetisation. Cabinet approval will also be sought in order to set up a specialised entity (special purpose vehicle, or SPV)

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  • India and Australia are aiming to reach an early harvest announcement by December 2021 to further enhance trade ties between the two countries, according to a joint statement released on Friday.

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  • The National Highways Authority of India (NHAI) will be the flag-bearer of the government's asset monetisation programme with a plan to raise about Rs 30-40,000 crore through monetisation of its operational stretches over the next two years.

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  • The month-on-month prices of tomato and potato, which have been ruling about 50% lower since January 2021, have declined further. Wholesale tomato prices in Maharashtra have crashed to Rs 3/kg to Rs 5/kg

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  • Corporate Social Responsibility spending under the companies law should not be interpreted as a source of financing the resource gaps in government schemes, the Ministry of Corporate Affairs has said as it issued a detailed set of FAQs for the effective implementation of CSR norms.

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  • The Maldives on Thursday sealed a contract for the implementation of an India-funded connectivity project, billed as the largest infrastructure initiative being rolled out in the island nation.

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  • The Central Board of Indirect Taxes and Customs (CBIC) has done away with the requirement of depositing full security amount for some cases of provisional assessment where free-trade agreement (FTA) benefit was being claimed.

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  • India's gross domestic product (GDP) is expected to grow at around 18.5% in the first quarter of the current financial year, SBI noted in its research report Ecowrap, lower than the RBI's 21.4% projection.

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  • A committee comprising India Inc's top CEOs have argued that India’s proposed Free Trade Arguments (FTAs) could help increase exports of auto components and textiles.

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  • The government is considering a proposal to extend the validity of the interest equalisation scheme for exporters by 2-3 years from the September 30 deadline, a senior official told FE.

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  • Besides getting a 50% share in the GST on petrol and diesel, the states could also benefit from higher devolution, as the Centre’s 50% revenue from the fuels will also be part of divisible pool, against under 6% now.

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  • Department of Investment and Public Asset Management (DIPAM) Secretary Tuhin Kanta Pandey had earlier this month said that the government is finalising Rs 6 lakh crore worth infrastructure assets, inc

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  • The monetary policy committee (MPC) is conscious of its objective of anchoring inflation expectations, the MPC Minutes, that was released on August 20, read out. The MPC also suggests that the outlook for aggregate demand is improving, but still weak and overcast by the pandemic.

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  • The second wave is a humanitarian crisis, but the economic impact is going to be far more muted than it was during the first wave, said Dr Aurodeep Nandi, Vice President, Nomura during ET Now's India Development Debate in an interview

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  • N.K. Singh, the chairman of the Fifteenth Finance Commission, has been elected as thepresident of the Institute of Economic Growth (IEG) Society. He succeeds Dr. Manmohan Singh, former Prime Minister of India

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  • Prospects for sugar exports are encouraging for next sugar season (SY2022) on account of recent surge in international prices of raw sugar prices, according a note by rating agency ICRA.

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  • Many companies have reached out to the government for clarity on whether depreciation can be availed on imported capital equipment for manufacturing under the bonded warehouse scheme.

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  • The pandemic has led to the International Finance Corporation massively ramping up its impact investment in the country - its largest client nation globally - at USD 1.7 billion as of June, a 51 per cent rise over the past 12 months

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  • A Financial Inclusion Index (FI-Index) to capture the extent of financial inclusion is now ready. The Reserve Bank of India informed about its formation on Tuesday.

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  • The Central Board of Indirect Taxes and Customs (CBIC) streamlined procedure for closing inland container depots and container freight stations, limiting the time to four months.

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  • India's palm oil imports fell 43.55 per cent year-on-year to 4.65 lakh tonne in July due to higher domestic stocks, industry body Solvent Extractors Association (SEA) said on Monday. India, the world's leading vegetable  oil buyer, had imported 8.24 lakh tonne palm oils in July 2020.

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  • Business activity rose for the second consecutive week, crossing the pre-pandemic level for the first time since the onset of the COVID-19 disruption in March 2020, a Japanese brokerage said on Monday.

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  • With Kabul falling into the hands of the Taliban, bilateral trade between Afghanistan and India will get impacted significantly in these uncertain times, according to exporters.

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  • Desperate attempts by some economic actors to come out of a crisis that lasted for a frustratingly long period enabled some indicators to move up in July after being trammelled by the second Covid wave in May-June.

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  • Retail inflation eased to 5.59 per cent in July mainly due to softening food prices, according to official data released on Thursday. The Consumer Price Index (CPI) based inflation was 6.26 per cent in June and 6.73 per cent in July 2020.

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  • According to the Index of Industrial Production (IIP) data released by the National Statistical Office (NSO), the manufacturing sector's output surged by 13 per cent in June 2021.

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  • Its loan asset book grows at 9.5 per cent. Loan asset book for Q1FY'22 (April-June 2021) stood at Rs 7,49,373 crore versus Rs 6,84,383 crore in Q1FY'21 (April-June 2020).

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  • Finance Minister Nirmala Sitharaman on Thursday assured India Inc that the government is ready to do everything required to revive and support economic growth. There are indicators which suggest that the economy is buoyant and recovery is taking place post lifting of COVID-19 restrictions by states, she said while addressing the CII Annual Meeting 2021.

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  • Addressing a virtual event organised by industry body CII, Kant said India's private sector has to set ambitious targets for itself and focus on green hydrogen, high-end batteries and advanced solar panels to become competitive.

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  • The Indian government expects to list state-owned Life Insurance Corp (LIC) by the end of the current fiscal year, and collect 500 billion rupees ($6.72 billion) as dividends from state-run companies, a senior finance ministry official said on Wednesday.

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  • After stalling from June-end to mid-July, the southwest monsoon accelerated to close the deficit in long period average (LPA) of rainfall from 7 per cent as on July 12 to just 4 per cent as on August 8. The India Meteorological Department forecasts monsoon will remain normal for the rest of the season.

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  • Union highways minister Nitin Gadkari will soon approach the Reserve Bank of India on suggestions to use India’s foreign reserves towards building infrastructure.