Economy

Mumbai: Exporters have dragged the Revenue Intelligence (DRI), India’s primary anti-smuggling intelligence agency to various courts following notices over allegedly wrongfully availing Goods and Services Tax (GST) exemptions. Exporters have filed various writ petitions in Gujarat High Court, Punjab High Court, Bombay High Court and Madras High Court. Some of the courts have decided to
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India is considering revising its foreign investment rules for e-commerce, three sources and a government spokesman told Reuters, a move that could compel players, including Amazon.com Inc, to restructure their ties with some major sellers. The government discussions coincide with a growing number of complaints from India’s brick-and-mortar retailers, which have for years accused Amazon
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Karnataka has sought more funds from the Centre for investments in Bengaluru’s infrastructure projects such as metro rail, sub-urban rail, road transport etc. Bengaluru is one of the largest contributors to India’s economy. The city requires huge investments, home minister Basavaraj Bommai said at a pre-budget interaction with finance minister Nirmala Sitharaman. The home minister
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New Delhi: The upcoming budget could unveil a new and continuous framework for faster resolution of disputes over direct taxes. The government is considering options such as mediation or a permanent dispute resolution system with pre-specified benchmarks on the lines of the ‘Vivad Se Vishwas’ scheme have been discussed, a person familiar to the pre-budget
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There are numerous benefits of investment in education. It can reduce poverty, enhance equality, improve health, reduce crime, and promote rights, to name a few. A crucial driver that enables these benefits is the link between education and earnings. Even though the roots of this argument lie in the writings of classical economists like Adam
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CHENNAI: Reserve Bank of India (RBI) Governor Shaktikanta Das on Saturday said the central bank remains steadfast to take any further measures as may be required to support growth without compromising on financial stability. Delivering the 39th Palkhivala Memorial Lecture, the governor said the principal objective during the pandemic period was to support economic activity;
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Enthusiasm about Budget 2021 has been muted. Finding a balance between prioritising lives vs livelihoods, fiscal prudence vs budget largesse should be priority. But will Finance Minister Nirmala Sitharaman’s third budget have something for everyone as indications suggest? Today, almost a year after Covid-19 descended on India, we are fully cognisant of the far-reaching impact
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Kolkata: The Trinamool Congress on Thursday claimed that the new agriculture laws will leave small and marginal farmers at the mercy of big corporates and demanded that the legislation should be immediately repealed. Prices of vegetables such as potatoes and onions have skyrocketed as these have been taken off the essential commodities list, the party’s
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New Delhi: India’s new Foreign Trade Policy, under formulation, will come into effect from April 1, 2021 for five years and will strive to make the country a leader in international trade, the government said on Tuesday. The information was shared with Members of Parliament during a briefing about the Foreign Trade Policy (FTP). The
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KOLKATA: The Rs 12,000-crore microfinance industry in Assam is facing a double whammy. The promises of waiver for micro loans by political parties made in the last few days in the poll-bound state have triggered an alarm while the state assembly only recently passed the microfinance bill suggesting restrictions of certain business practices. Investors planning
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NEW DELHI: India has signalled widening of ties with Taiwan amid the ongoing border crisis with China with its envoy indicating expanding scope of trade and investments ties and people-to-people contacts. India’s representative to Taiwan recently told local media that his office will focus on enhancing bilateral investments, people-to-people exchanges and technical cooperation between Delhi
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BENGALURU: India’s first toy manufacturing cluster coming up on a 400-acre plot at Koppal in North Karnataka has received investment proposals worth $ 211 million (Rs 1540 crore) from six firms. Chief Minister BS Yediyurappa performed the ground-breaking at the site, on Saturday, for the toy cluster being developed by Aequs Group, promoted by Aravind
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New Delhi: India is strengthening the entire ecosystem to achieve Prime Minister Narendra Modi‘s dream of becoming a USD 5 trillion economy by 2025 through rapid structural reforms, Union Minister Piyush Goyal said on Saturday. Addressing the Pravasi Bharatiya Diwas conference, the Commerce and Industry Minister said: “We are working simultaneously to bring about a
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