Economy / Finance

Over Rs 3.5 lakh crore worth asset monetisation through REITs, InvITs likely in one year: Report

Posted on 2021-06-10T14:55:07+05:30 - economy-finance

With InvITs and REITs now recognised as borrowers under the SARFAESI Act, lenders to these trusts, shall have adequate statutory enforcement options, absence of which was earlier becoming a constraint for bankers to lend directly at trust level.

India remains a strong long-term investment bet: Deloitte global CEO

Posted on 2021-06-10T03:02:58+05:30 - economy-finance

“Over the long arc of time, and the long investment horizon, India is a very attractive destination. And it is attractive because the fundamentals are attractive: the talent pool, the demographics, the consumer base, the democratic tradition,” the India-born Punit Renjen said in an interview.

Finance Ministry releases third instalment of revenue deficit grant of Rs 9,871 cr to 17 states

Posted on 2021-06-09T17:44:26+05:30 - economy-finance

With the release of this instalment, total Rs 29,613 crore has been released in the first three months of the current financial year as Post Devolution Revenue Deficit Grant to states.

Ever wondered how much money has been recovered through IBC? Here's the data

Posted on 2021-06-09T12:37:40+05:30 - economy-finance

Out of the total 4,300 cases that have been admitted to bankruptcy courts since FY17, only 8% has been resolved and nearly 40% of the cases are still pending. About 30% of the cases have seen liquidation.

Centre's vaccine spend could rise to Rs 50,000 crore

Posted on 2021-06-09T06:45:11+05:30 - economy-finance

The extension of the free food grain scheme that covers about 80 crore poor people till November is expected to cost another Rs 1 lakh crore. The additional spending of nearly Rs 1.15 lakh crore could widen the fiscal deficit for the year, experts said.

Free vaccines, food to cost India an additional $11 billion

Posted on 2021-06-08T13:22:37+05:30 - economy-finance

Prime Minister Narendra Modi agreed Monday to provide free inoculations, reversing a policy where states ended up competing for supplies for certain age categories, leading to severe shortages. His administration also has been criticized for its handling of the second wave of the virus, which has killed thousands of people in India.

Central Bank of India, IOB could be the two state-run banks to be privatised in current fiscal

Posted on 2021-06-07T11:04:01+05:30 - economy-finance

NITI Aayog had submitted the names of the two state-run banks and one general insurer to the committee of secretaries on disinvestment.

HDFC extends contribution for COVID-19 relief

Posted on 2021-06-06T15:49:40+05:30 - economy-finance

It has committed an initial amount of Rs 40 crore this year for Covid-19 support and will increase this commitment over the next 2 quarters, based on need, the home financier said in a release on Sunday. The funding was part of its Corporate Social Responsibility (CSR) initiatives.

GST mop-up dips in May, but 65% higher on-year

Posted on 2021-06-06T07:22:56+05:30 - economy-finance

It was 65% higher than Rs 62,009 crore in the year earlier, when the lockdown was in place. May revenue exceeded Rs 1 lakh crore for the eighth month in a row. Some experts said the numbers were higher than expected and pointed to the economy getting back on track.

The great Indian tax paradox: Can the tax mop-up keep its pace in the current fiscal?

Posted on 2021-06-05T22:47:37+05:30 - economy-finance

​​Augmenting tax collection is critical. If the pandemic continues, pro-poor schemes will need more resources. Ramping up the health infrastructure to prepare for a third wave will also need money.

GST collections at Rs 1.03 lakh crore for May, above Rs 1 lakh crore for 8th consecutive month

Posted on 2021-06-05T17:17:07+05:30 - economy-finance

The collections have been 65% higher than the GST revenues in the same month, despite many states being under lockdown due to the Covid pandemic, the finance ministry said Saturday.