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Sri Lanka in ‘restricted’ cover category: ECGC to keep an eye
While the present country rating of Sri Lanka remains unchanged as C1 (moderately high risk), its cover category has been changed from Open Cover to Restricted Cover Category – I (RCC-I).
CAG: No archiving policy, deficient data management by UIDAI
“UIDAI provided authentication services to banks, mobile operators and other agencies free of charge till March 2019, contrary to the provisions of their own Regulations, depriving revenue to the Government,” the CAG noted.
ADB projects India’s economy to grow by 7.5% in FY23; to pick-up to 8% next fiscal
"Economies in developing Asia are starting to find their footing as they slowly emerge from the worst of the Covid-19 pandemic," said ADB Chief Economist Albert Park.
India’s manufacturing activities moderate in March; production, sales expand at slowest pace in six months
The seasonally-adjusted S&P Global India Manufacturing Purchasing Managers' Index (PMI) was at 54.0 in March, down from 54.9 in February, highlighting weakest rate of growth in terms of production and sales since September 2021.
GST collections hit all-time high of Rs 1.42 lakh crore
The average monthly gross GST collections for FY22 now stands at Rs 1.23 lakh crore, which is 30.5 per cent higher than the monthly average seen in the previous fiscal.
GST collection at all-time high of Rs 1.42 lakh crore in March
The gross GST revenue collected in March 2022 is Rs 1,42,095 crore, of which CGST is Rs 25,830 crore, SGST is Rs 32,378 crore, IGST is Rs 74,470 crore (including Rs 39,131 crore collected on import of goods) and cess is Rs 9,417 crore (including Rs 981 crore collected on import of goods).
Current account deficit widens to 2.7 per cent of GDP in Q3
The current account deficit was 1.2 per cent of GDP in April-December 2021 as against a surplus of 1.7 per cent in April-December 2020 on the back of a sharp increase in the trade deficit, the RBI said on Thursday.
Small savings schemes’ interest rates unchanged
Interest rates on small saving schemes are reset every quarter, but have not been revised since the first quarter of FY21.
RBI risks falling behind curve like Fed, SBI Funds Management says
SBI Funds warn the global rout may hurt Indian bonds as the central bank downplays inflation risks amid surging oil prices and the market braces for record government borrowing.
‘Substantial progress in NSE co-location probe by CBI’
In a written reply to Rajya Sabha, Sitharaman said that during the investigation into the matter, it was noticed that certain stock brokers got preferential access to the trading system.
50% crew to get pre-flight alcohol test daily: DGCA
The notice has been issued “in view of reducing trend of COVID-19 cases and increase in volume of air traffic as a result of resumption of normal operation”, it noted.
India received 65% more FDI during Modi regime against 10 years of UPA rule: FM Sitharaman
Replying to the discussion on the Finance Bill, 2022, and Appropriation Bill, 2022, the minister said India continues to remain among the top five foreign direct investment recipient countries in the world, as per a UNCTAD report.
Sharp recovery in FY22 to help sustain growth: FM Sitharaman
The government's road map was put into effect in 2014, she said, adding that major reforms, including Goods and Services Tax (GST), Insolvency and Bankruptcy Code (IBC) and significant reduction in corporate tax rate, were implemented.
FE CFO Awards: Will engage from a position of strength, says Goyal
The country’s combined goods-and-services exports would cross the $2-trillion mark in a decade or earlier, enabling it to blossom into the ‘big league’ of world trade, he said.
Piyush Goyal on tax raids: Action will be taken for wrongdoings
“I am amazed ... I do not understand the relation between raids and investments ... Is there any provision or law in the country that if you are a big politician or a big industrialist, action would not be taken for their wrongdoings ... Action will be taken”, the minister said.
Price of Suzuki EVs to be based on 2014 pact: Bhargava
Maruti Suzuki chairman RC Bhargava said that the pricing of electric vehicles (EVs) or batteries sold by SMG to MSI will take into account the cost of material, labour, electricity, depreciation of equipment and other consumables, but not include any profits.
Piyush Goyal chief guest at CFO Awards
The fifth edition of the FE CFO Awards, to be held on Friday evening in Mumbai, will acknowledge these stand-out professionals.
‘Rise of retail investors push share of equities in household assets to all-time high at 4.8%’
Indian household asset holdings — based on savings data and MTM (mark-to-market) calculations — over the last 15 years suggests that equities as a percentage of households (HH) net worth have risen to an all-time high, according to a report from research firm Jefferies.
India tops $400-billion target for goods exports
The target was achieved with 10 days to spare — exports crossed $400.8 billion on March 21 and there's a likelihood that total exports for the fiscal may cross $410 billion by the end of the month.
Markets jump over 1% on Ukraine truce hopes
Analysts said a hawkish US Fed and the 10-year yield in the US rising to 2.29 per cent are headwinds for global markets.
Crypto mining costs: No I-T deduction to be allowed, says govt
Loss from the transfer of virtual digital asset (VDA) will not be allowed to be set off against the income arising from the transfer of another VDA, Minister of State for Finance Pankaj Chaudhary said in a written reply to the Lok Sabha.
Reliance Retail buys 89% stake in Clovia for Rs 950 crore
The founding team and management will own the balance stake in the company, RRVL said. With this acquisition, RRVL will further strengthen its portfolio in the innerwear segment, having already acquired Zivame and Amante brands, RRVL said
Economy faces spillovers from conflict; biz confidence up: RBI
“The geopolitical crisis has heightened the uncertainty clouding the global macroeconomic and financial landscape even as the world economy struggles to recover from the pandemic”
Moody’s slashes 2022 India growth estimate to 9.1% on lower capex
With regard to India, it said the country is particularly vulnerable to high oil prices, given that it is a large importer of crude oil. Because India is a surplus producer of grain, agricultural exports will benefit in the short-term from high prevailing prices.
Sustained price spike poses risk to growth estimates: MoF
Volatility in global commodity prices are yet to impact the growth assessment.
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