Economy / Finance

View: Paying every Indian 5,000 can be the fiscal fix to make 2021 really happy

Posted on 2021-01-03T09:58:52+05:30 - economy-finance

Vaccines are being distributed around the world, and India’s own vaccination programme will start soon. Fortunately, India also seems to have stabilised or even declined in terms of daily new cases, at least for now. Meanwhile, the Indian economy is now open to a large extent.

6.03 crore GST e-invoices generated in December 2020

Posted on 2021-01-02T16:28:00+05:30 - economy-finance

Notably, the e-way bill generation from the National Informatics Centre (NIC) developed e-way bill system is also highest during September to December 2020 compared to corresponding months of previous years. The response of the system is good and generation of IRNs is hassle-free during this period.

3% stamp duty waiver helped Maharashtra's revenue grow by Rs 367 cr

Posted on 2021-01-01T17:46:33+05:30 - economy-finance

The Maharashtra government's revenue from registration of documents rose by Rs 367 crore due to a three per cent waiver in stamp duty between September and December 2020, a state minister said on Friday.

No charges on transaction through UPI: NPCI

Posted on 2021-01-01T17:40:38+05:30 - economy-finance

Reports that UPI transactions will be charged from January 1, 2021 are incorrect, NPCI said in a statement.

IFSCA becomes member of International Organization of Securities Commissions

Posted on 2021-01-01T14:45:03+05:30 - economy-finance

The International Organization of Securities Commissions (IOSCO) works closely with the G20 and the Financial Stability Board in setting up the standards for strengthening the securities markets, IFSCA said.

Over 4.84 crore ITRs for 2019-20 filed till December 31

Posted on 2021-01-01T14:42:07+05:30 - economy-finance

An analysis of the data showed that filing of tax returns by individuals for 2019-20 has slowed in the current year, while filing by businesses and trusts have increased.

GST collection in December at all-time high

Posted on 2021-01-01T13:50:07+05:30 - economy-finance

ETIG Analysis: Need of a stimulus package for NGOs

Posted on 2021-01-01T09:14:51+05:30 - economy-finance

The year 2020 has been a difficult year for NGOs in India (not just because of the pandemic) and the next year also potentially appears to be a difficult one. "Most NGOs are heavily reliant on their funders and with institutional funding drying up this year, several NGOs, especially the smaller ones, have suffered a lot", said Priya Naik.

At USD 25 billion, India draws record FDI in September quarter

Posted on 2021-01-01T00:24:55+05:30 - economy-finance

Adding to the strong capital inflows during July-September quarter, foreign investment — including direct investment and portfolio flows — were the only major heads to witness net inflows during the quarter, according to the latest balance of payments data.

Government outstanding debt swells 5.6% to Rs 107.04 lakh crore in Q2

Posted on 2020-12-31T13:36:55+05:30 - economy-finance

Public debt accounted for 91.1 per cent of total outstanding liabilities at end-September 2020, as per the latest quarterly report on public debt management.

Amid differences between FinMin and Dipam over target, stage set for big bang divestment

Posted on 2020-12-31T10:53:21+05:30 - economy-finance

Dipam, the government's disinvestment manager, believes that it was responsible only to achieve a target of Rs 1.2 lakh crore and blames Covid for the shortfall. This is not the first time that Dipam is accusing the finance ministry of using it to show higher receipts and consequently a lower fiscal deficit.

Finance Ministry okays 8.5% on PF deposits for 2019-20

Posted on 2020-12-30T23:25:03+05:30 - economy-finance

EPFO’s Central Board of Trustees, the apex decision-making body under the labour minister, had in March this year approved 8.5% interest rate on EPF for 2019-20. In September, the retirement fund body had decided to split payment of 8.5% interest into two tranches of 8.15% and 0.35%.