National India News
For the global economy, it projected a less severe decline in GDP at -3.7% in 2020 compared to -4.4% in the September projection. Fitch Ratings on Tuesday raised India’s GDP forecast to -9.4% in the current fiscal year to March 2021 from a previously projected contraction of 10.5% after the economy staged a sharper rebound […]
The Prime Miniser greeted Invest India, an investment promotion and facilitation agency of the Union government, for winning the ‘2020 United Nations Investment Promotion Award’. Prime Minister Narendra Modi on Tuesday congratulated Invest India, an investment promotion and facilitation agency of the Union government, for winning the ‘2020 United Nations Investment Promotion Award’. The award […]
Bilateral trade deficit narrows sharply in November as India’s imports of Chinese goods decline India’s imports from China as well as its trade deficit declined sharply in November, marking an exception to a record month for Chinese exports around the world that registered the fastest growth in almost three years and underlined China’s continuing recovery […]
92% of taxpayers, with annual revenue of up to ₹5 cr., qualify. Starting January 2021, 92% of taxpayers under the Goods and Services Tax regime with an annual turnover of up to ₹5 crore can opt to file their returns once a quarter instead of the present monthly system, Department of Revenue officials said on […]
Petrol and diesel prices rose for the sixth day in a row on December 7 as rates went up by 26-30 paise per litre. Also read: Petrol, diesel rates touch 2-year high after rising for fifth straight day Petrol price was hiked by 30 paise per litre and diesel by 26 paise, according to a […]
Entities filing declarations under the direct tax dispute resolution scheme ‘Vivad Se Vishwas’ can revise them till the time tax authorities issue certificate mentioning details of tax arrears and the amount payable, the Income Tax Department has said. Issuing a set of FAQs on ‘Vivad Se Vishwas’ scheme, the Central Board of Direct Taxes (CBDT) […]
Foreign direct investment (FDI) equity inflows into India crossed the $ 500 billion milestone during April 2000 to September 2020 period, firmly establishing the country’s credentials as a safe and key investment destination in the world. According to the data of the Department for Promotion of Industry and Internal Trade (DPIIT), the inflows during the […]
RBI has also revised its forecast of economic growth for the current fiscal year (2020-21) to (-)7.5% as against its earlier forecast of (-)9.5%. India’s economic growth is likely to reach pre-COVID-19 levels by the end of the 2021-22 fiscal as the GDP contraction in this financial year is expected to be less than 8%, […]
The story so far: The Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) on Friday announced its decision to hold the benchmark repo rate unchanged at 4%. Vowing to stick with its ‘accommodative’ policy stance in the next fiscal year to help support economic recovery amid the COVID-19 pandemic, the MPC opined […]
There is considerable optimism on successes in vaccine trials,” the MPC said in its statement The Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) on Friday left benchmark interest rates unchanged and maintained an ‘accommodative’ policy stance as it prioritised support for the economy’s recovery over ‘sticky’ inflation amid the COVID-19 pandemic. […]