Congress president Sonia Gandhi on Tuesday wrote to Prime Minister Narendra Modi suggesting five measures to conserve money for the fight against COVID-19, including a complete ban on media advertisements by government and PSUs for two years and suspending the Central Vista beautification project.
In order to make it hassle-free, various start-up support groups such as TiE (The Indus Entrepreneur) and India Angel Network (IAN) are partnering with the digital NBFCs to extend debt finance to their member companies.
'It is entering growth territory on a month-on-month basis.'
Village panchayat unanimously passed a resolution declaring it would not allow the MNC to go ahead with its plans.
From virtual yoga to empathy, the pandemic has prompted the e-commerce giant to double down on building innovations focused on improving remote work culture especially employee well-being, both mental and physical.
Of the three major Budget announcements related to the banking sector, privatisation of PSBs is the most audacious, says Tamal Bandyopadhyay.
The derivatives (futures and options) are not treated as capital asset and the income arising from the transfer of the derivatives is treated as business income and liable for normal rate of tax for domestic investors, an official statement said on Saturday, clarifying the stand of tax authorities on gains made from derivatives trading.
Small and medium enterprises have been struggling to raise bank credit even as they have been powering India's manufacturing growth in recent years.
Some sectors like aviation, hospitality, travel and tourism, and automobile have witnessed zero cash flow since the lockdown began.
Out of 30 key export sectors, as many as 22 showed negative growth in September.
'HEADLINE HUNTING. A NUMBER -20 LAKH CRORES. NO DETAILS'
There could be multiple measures announced in quick succession, not only by the finance minister but also other ministers regarding their respective sectors, and by the Reserve Bank of India. The total size of these announcements could rival that of other G-20 nations as a percentage of GDP.
Jaitley said the GST Composition Scheme, under which small traders and businesses pay a 1 per cent tax based on turnover, can be availed by businesses with a turnover of Rs 1.5 crore, against the earlier Rs 1 crore, with effect from April 1.
The Centre on Monday earmarked a separate Rs 2,217 crore for 42 urban centres to tackle air pollution and announced the much-awaited voluntary vehicle scrapping policy to phase out old and polluting vehicles, even as it shrunk the budgetary allocation for the environment ministry from the last fiscal by nearly eight percent. Union Finance Minister Nirmala Sitharaman, in her budget speech for 2021-22, announced a total of Rs 2869.93 crore for the ministry, Rs 230 crore less than the last fiscal. Officials said the outlay has been lesser this time as the economy is recovering from the COVID-19 pandemic.
The project holds strategic significance as Zojila Pass is situated at an altitude of 11,578 feet on the Srinagar-Kargil-Leh National Highway and remains closed during winters due to heavy snowfall.
Measures to promote ease of doing business, cut in tax rates for smaller enterprises to 25 per cent, and reduction in interest rates are creating the right atmosphere for new businesses to flourish, particularly SMEs.
The minister added that the exchanges should not be discouraged by the failure of past attempts at launching such a dedicated platform for small exchanges.
The GST Council also decided that a committee of officers will be constituted to examine the simplification of forms for annual return and reconciliation statement.
In an affidavit filed by Union finance ministry on behalf of the Union of India, it said that the relief to all borrowers in respect of compounding of interest during the period of moratorium would be admissible to the categories specified irrespective of whether the borrowers had availed the moratorium or not.
Addressing the Congress Working Committee, the president of the party said, ""Misfortunes do not come singly. India has been hit by a terrible economic crisis, a pandemic of huge proportions and, now, by a full-blown crisis on the borders with China. Much of each crisis is attributable to the mismanagement of the BJP-led National Democratic Alliance government and the wrong policies pursued by it."
Lockdown relaxations by Kerala amounts to dilution of its lockdown guidelines, says the Union home ministry.
He also assuaged the honest people that the government will act as a friend to them so that their difficulties are eased.
MSMEs contribute immensely to the industrial landscape of the country in terms of their 45 per cent share of manufacturing output and 40 per cent of exports.
The exporters are optimistic that the industry will grow by 8-10 per cent and it can improve further if the government helps the industry.
The order follows a complaint filed by Delhi Vyapar Mahasangh which accused the e-commerce firms of anti-competitive practices like preferential listing, exclusive tie-ups and private labels.
Seed and early-stage start-ups are high-risk businesses, rarely have collateral and only 1 in 10 of them makes it to becoming a viable company.
Spurring the economy, currently in the throes of a slowdown, remains the prime focus for most ministries, but the government is also looking to make women's welfare and environmental protection key to policymaking in this term.
In the domestic segment, demand is currently led by rural markets, oil and gas, LPG and B2C segments like roofing and sheeting.
'Several businesses like entertainment, hospitality, travel etc would never be the same again.'
Further stimulus measures are expected in the upcoming Budget where the focus is likely to be on reforms, including some structural measures such as reducing red tape and boosting foreign direct investment. The meeting with industrialists is in the series of discussions that Modi has had during the last couple of weeks to seek suggestions to revive growth.
'There is one sector which is overlooked. And that is the middle and upper middle class.'
'Neither farmers nor farm labourers will benefit from these jumla announcements of the finance minister'
The GoM was told that six states -- Maharashtra, Delhi, Gujarat, Tamil Nadu, Uttar Pradesh and West Bengal -- account for 86 per cent of the deaths caused by COVID-19 and 32 districts account for 80 per cent of such fatalities, the Union health ministry said.
INS Khanderi, the second Scorpene-class submarine that can attack with torpedoes as well as tube-launched anti-ship missiles whilst underwater or on surface, was launched at the Mazgaon Dock Shipbuilders Ltd in Mumbai in January 2017.
The Rs 20 lakh crore package includes Rs 1.7 lakh crore package of free foodgrains to the poor and cash to poor women and elderly, announced in March, as well as the Reserve Bank's liquidity measures and interest rate cuts.
The Supreme Court asked the Centre and the RBI on Monday to place on record the K V Kamath committee recommendations on debt restructuring in view of Covid-19 related stress on various sectors as well as the notifications and circulars issued so far on loan moratorium.
'You just make the bureaucracy honest and make them function with integrity.' 'Everything will be taken care of after that.' 'But this Mission Karmayogi does not even mention these two words -- honesty and integrity.'
He reaffirmed the government's commitment to resolving any outstanding issue in the way of growth and development of indigenous defence industries.
According to a communication by the ministry to the heads of PSBs, it will be a bottom-up consultative process from the branch level onwards which will involve discussions at the branch or regional level, state level and national level.
'We look forward to providing great customer experiences in India.'
