NEW DELHI: The Goods and Services Tax (GST) Council is likely to meet before mid-July to consider proposals to simplify procedures and clarify matters including the taxation of ride-hailing app…
Category: Economy
Now OMCs referring to DBTL LPG beneficiaries’ Income Tax data to plug leakages amid West Asia war
New Delhi: After halting new cooking gas connections and extending refill booking periods, oil marketing companies (OMCs) are turning to tax data to weed out ineligible beneficiaries of the direct…
India to measure its growing creative economy just like manufacturing
New Delhi: India is moving to formally measure its rapidly expanding creative economy, with the government preparing new statistical tools and classifications to capture the growing contribution of intellectual property…
No bailout package for OMCs amid high energy prices: official
There is no proposal to provide a bailout package or fiscal support to oil marketing companies (OMCs) despite mounting losses on fuel sales, said Sujata Sharma, joint secretary, petroleum and…
Industry must aim for a strategic reset amid global turmoil: Shaktikanta Das
Amid rising global volatility and supply-chain disruptions, Indian companies must shift their focus from short-term cost efficiency to long-term resilience, Shaktikanta Das, principal secretary to the Prime Minister, said on…
Govt weighs emergency steps to protect forex reserves
India is considering emergency steps to shore up foreign-exchange reserves, including curbing non-essential imports like gold and electronic goods, and hiking fuel prices, to help cushion the economy from the…
FTAs and industrial policy must move in tandem to boost growth, says commerce secretary
Commerce secretary Rajesh Agarwal said on Monday that India’s free trade agreements (FTAs) and industrial policies must move in tandem to fully leverage emerging economic opportunities. All stakeholders—including industry, consumers…
Economists see wider CAD despite PM Modi’s appeal for austerity
Mumbai: India’s current account deficit (CAD) is expected to widen sharply in the current financial year as prolonged disruptions in the Strait of Hormuz drive up crude prices, with economists…
PM’s appeal: Diesel consumption in agriculture can be scaled back with use of alternative energy, experts say
New Delhi: A day after Prime Minister Narendra Modi publicly appealed for the public to cut down the use of transport fuel, economists and farmer groups said agriculture was a…
India inflation likely rose to 3.8% in April as food prices hardened: Mint poll
India’s retail inflation likely rose to 3.8% in April from 3.4% in March, moving closer to the Reserve Bank of India’s (RBI) medium-term target of 4% as food prices firmed…