Centre To Keep Check On COVID Data, Strengthen Economic Policies
Principal Economic Advisor, Sanjeev Sanyal announced the vigilance by the Government over six weeks data of COVID-19 to tackle the economic crisis in the country. Alleging the Government for the covid mismanagement, Sanyal stated, "We need to take some steps against the third wave as a policymaker, and we will carry monetary and fiscal interventions if required." Spotlighting "blunt" nationwide lockdown, the economist emphasised the cons of… read-more
Tags: Covid-19, Lockdown, Central Government, Economy
Courtesy: The Free Press Journal
Ajay Seth Appointed as the Secretary of Economic Affairs
As directed by the Appointments Committee of Cabinet headed by the Prime Minister, Ajay Seth, a 1987-IAS batch officer, has been appointed as the Secretary of Economic Affairs, on April 16. He replaced Tarun Bajaj who will now work as the Revenue Secretary in the Ministry of Finance. Earlier, Ajay Seth held the office of Managing Director for Bangalore Metro Rail Corporation. Also, he was associated with the Department of Expenditure and… read-more
Tags: Economy, Revenue Department, Prime Minister, Finance secretary
Courtesy: The Indian Express
Kashmir Clocked Higher Tourist Bookings During The Covid-19 Pandemic
Despite Covid-19, the Kashmir Valley clocked high tourist bookings as compared to previous years. While Kashmir was one of the earliest destinations to reopen amidst the pandemic, the hotels have recorded 70% of booking till June. Notably, the footfall in Jammu and Kashmir rose from 3,700 in January 2020 to 19,000 in January 2021, revealed Tourism Minister Prahlad Singh Patel.
Tags: kashmir, Travel, Tourism, Economy
Courtesy: The Indian Express
Tax Exemption On PF Threshold Limit Exceeds To Rs 5 Lakh
The Centre has increased the deposit threshold limit of provident fund from Rs 2.5 lakh to Rs 5 lakh on March 23. Reportedly, the interest received on the newly exceeded amount would also be tax-exempt. However, the tax exemption can only be enjoyed by only those individuals who do not contribute to the retirement fund. Earlier, the FinMin Nirmala Sitharaman, during budge, vowed to tax individuals for contributions over Rs 2.5 lakh.
Tags: Nirmala Sitharaman, Finance Minister, India, Provident Fund, Economy
Courtesy: NDTV
RBI Nods Access To Retail Investors To Buy, Sell Govt Securities
To increase retail participation in the government securities market, the Reserve Bank of India has allowed retail investors to directly buy and sell government bonds. Touted as a structural reform by the RBI governor Shaktikanta Das, the move aims to increase investor base and provide direct access to the primary and secondary market. However, the investors would be required to create a gilt account on E-kuber, RBI's electronic platform.
Tags: RBI, Economy, Government security, Ease Of Access, retail investors (9482
Courtesy: The Print
Micro & Small Firms To Create 10.3M Jobs In Next Five Years, Says Report
A recent study by Azim Premji University, TISS and FICCI extrapolated that Micro and Small Enterprises can create 10.3 Million jobs in five years. The study suggested to create an Udyog Sahayak Enterprises Network (USENET) that will connect MSEs facilitating ease of doing business. Digitization, formalisation, availing of government loans and subsidies to be done through USENET, the joint proposal expects adding over 2-lakh crore in five… read-more
Tags: INFORMAL JOBS, Economy, business, MSEs, USENET, FICCI, Employment
Courtesy: The New Indian Express
GST Collections At All-Time High Of Over Rs 1.15 Lakh Crore In December
Citing the post-pandemic economic recovery as the reason, the Union Finance Ministry reported a record all-time high GST collections of over Rs 1.15 lakh crore in the December, 2020. It registered an increase of 10% from November 2020 figure which was highest in the last 21 months. December 2020 was also the third consecutive month to register over Rs 1-lakh-crore GST collection. Besides, the collection was 12% higher than that of December… read-more
Tags: India, GST, FINANCE MINISTRY, Economy, post-covid
Courtesy: WION
China To Become World's Biggest Economy By 2028: CEBR Report
The UK’s Centre for Economic and Business Research (CEBR), in its annual report, has claimed that China will emerge as world’s biggest economy surpassing the US in 2028. The report cited China's "skillful management of the pandemic" as the reason because of which the country will be reaching the feat five years earlier than previously extrapolated. It also expected India to replace Japan in 2030 as the world's third-biggest economy.
Tags: USA, China, CEBR, India, Economy
Courtesy: WION
2021-22 Union Budget To Lay Foundation For Growth In Next 5 Year: FM
Finance Minister Nirmala Sitharaman on December 3 said that the 2021-22 budget will focus on laying the foundations for strong economic growth in the next five years. While asserting that the Indian economy was recovering, the Finance Minister hinted that the government may ease up on spending to stimulate growth. She stated, "2021-22 will be very big, good traction year for achieving a really good rate of growth".
Tags: Indian Economy, Economy, GDP, Nirmala Sitharaman, National news
Courtesy: Reuters
Setting Up Of Kiosks To Sell Eatables At South Delhi Municipal Parks Soon
The South Delhi Municipal Corporation (SDMC) has planned to install booths in parks to sell fruits, milk and basic items to boost the pandemic-hit corporation's financial condition. The SDMC will provide 4.5 x 2.5 metres temporary sheds on rent that can be operated during fixed hours. The corporation will table the proposal in the next meeting. The kiosks will be provided for a maximum of seven years by the auction method.
Tags: Delhi, South Delhi Municipal Corporation, Najafgarh, Economy, Lockdown, Parks
Courtesy: Hindustan Times