Finance

Exports To China: Stellar progress begins to sluggish

As FE had first reported on September 8, commerce with China didn’t undergo instantly even after the lethal border conflict in mid-June (outbound shipments to the neighbour jumped virtually 24% in July, in contrast with a close to 10% contraction in general items exports).

This can be a story of two markets. India’s merchandise exports to China, its second-largest market, appears to be dropping steam after a formidable 33% year-on-year bounce within the April-June interval within the face of Covid-19 pandemic. Progress in shipments to the neighbour slowed down significantly to twenty% in September quarter and to only over 2%

Govt declares ‘One District One Focus Produce’ programme

The federal government has already set a goal to attain $60 billion agri exports by FY22.

With the purpose to spice up export of agriculture merchandise, the Centre has recognized a number of merchandise underneath 15 broad classes, allotting one product for every of the nation’s 728 districts so that there’s convergence of assets underneath totally different schemes of varied ministries and in addition it helps improve farmers’ earnings.

The merchandise have been recognized from agricultural, horticultural, animal, poultry, milk, fisheries, aquaculture, marine sectors throughout the nation after taking inputs from the states, Union Territories and the Indian Council of

Sharp restoration on, count on GDP & GVA numbers to converge quickly: Sanjeev Sanyal

The expansion in GDP throughout 2020-21 is now estimated at minus 8.0 % as in comparison with a optimistic 4.0 % in 2019-20. (File Picture)

Sanjeev Sanyal, the economist, writer, and the principal financial adviser, authorities of India, has lengthy maintained that India has adopted a path completely different from most different international locations and calibrated its measures that finest go well with the nation. From the financial stimulus packages final 12 months that moved from “a security web to an funding and development strategy” to measures later to stimulate capital expenditure. It’s due to this fact not stunning that

GDP in optimistic trajectory a promising signal: India Inc

India’s GDP had shrunk within the earlier two quarters

India Inc on Friday stated the recouping of the nation’s financial system to a optimistic trajectory within the third quarter is a promising signal because it portends the top of the pandemic-induced recessionary section seen within the first-half of the fiscal 12 months.

Business our bodies expressed confidence that the GDP will enhance additional within the coming months on the again of optimistic development stimuli emanating from the Union Finances and initiatives just like the Manufacturing Linked Incentive scheme unveiled by the federal government.

After contracting for 2 quarters in a

Cryptocurrencies secure or not? RBI governor voices ‘main considerations’

On the identical time, the central financial institution is on monitor to launch its digital foreign money, he stated, with out specifying a timeline for the completion of the challenge.

The Reserve Financial institution of India (RBI) has “main considerations” in regards to the dangers posed by the cryptocurrencies to monetary stability, governor Shaktikanta Das stated in an interview on Wednesday. On the identical time, the central financial institution is on monitor to launch its digital foreign money, he stated, with out specifying a timeline for the completion of the challenge.

In an interview with CNBC-TV18, Das stated, “We’ve sure

PM Modi: We now have targetted to monetise 100 govt-owned belongings with mantra of monetise and modernise

Many loss-making PSEs are being supported by taxpayer cash, mentioned PM Modi. (Representational picture)

Underscoring the idea of minimal authorities and most governance, Prime Minister Narendra Modi on Wednesday mentioned that the federal government has targetted to monetise 100 public sector enterprises (PSEs) throughout sectors barring 4 strategic sectors below the Nationwide Asset Monetisation Pipeline proposed by the Finance Minister in her price range speech. “Right now there are numerous under-utilised and unutilised belongings below authorities management. With this thought, we had introduced the Nationwide Asset Monetisation Pipeline and have focused to monetise such 100 belongings with possibilities for funding

Maharashtra authorities units up panel to recommend APMCs’ various earnings sources

Maharashtra has 307 APMCs, a lot of that are struggling to outlive.

The Maharashtra authorities is a number of choices to generate alternate sources of income for Agricultural Produce Market Committees (APMCs) which will battle to outlive as soon as the farm legal guidelines are totally carried out within the state.  A examine committee has been fashioned to recommend methods and means to boost revenues for market committees, Satish Soni, director of promoting, Maharashtra, stated.

A round issued to market committees talks of organising solar energy tasks throughout the environs, establishing petrol pumps and even CNG gasoline stations to allow

Uttar Pradesh funds at this time, precedence areas to be infra, well being & MSMEs

This would be the final funds of the BJP authorities earlier than the state goes to polls early subsequent 12 months.

The Yogi Adityanath-led BJP authorities in Uttar Pradesh is all set to current its annual funds 2021-22 on Monday. This would be the final funds of the BJP authorities earlier than the state goes to polls early subsequent 12 months. Whereas the funds is anticipated to be pretty populist in nature, it’s more likely to largely comply with the development set by the Union authorities and prioritise infrastructure, well being, MSMEs and talent growth.

With Covid-19 producing further strain

‘Banning cryptocurrencies could be like banning Web in Nineteen Nineties and can set India again by years’

Crypto {industry} is open to being regulated, however a blanket ban is one thing that can hurt the whole nation’s monetary and expertise ecosystem.

The Cryptocurrency and Regulation of Official Digital Forex Invoice, 2021 – a invoice that contemplates a ban on crypto belongings in India – is among the many listing of payments to be introduced on this Parliament session. It talks about two issues: first, initiating legal guidelines to make it simple for the Reserve Financial institution of India (RBI) to create its personal CBDC, and second, banning ‘non-public crypto belongings’ with some exceptions. We’ve reached a vital

Union Finances 2021: How Nirmala Sitharaman expanded powers of tax authorities

GST has been criticized for a number of compliances that show difficult for taxpayers, particularly for small and medium-sized companies.

By Surbhi Premi

GST associated proposals made within the Union Finances pivot round enhanced enforcement to safeguard the curiosity of income by eradicating anomalies and plugging the loopholes within the regulation resulting in tax evasion or wrongful availment and/or utilization of ITC. Additional, a number of the modifications geared toward serving to companies by decreasing the compliance burden and so on.

Many of the proposed amendments discover their roots within the agenda notes of the thirty ninth GST council assembly