Economy

Biden’s tax proposal focused on a meeting of the 7-member Council of Ministers

U.S. President Joe Biden’s proposals to curb tax evasion by international companies will be a major theme on Friday when finance ministers from the Group of Seven Wealthy Democrocy begin talks on economic cooperation in London. Biden’s demand for at least 15% of the world’s lower corporate taxes has hampered international tax negotiations and raised …

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Sugar exports of India this year clocked 5.11 million

The sugar industry has exported 5.11 million tons of sweetener so far in the ongoing 2020-21 marketing year ending September, with many shipments to Indonesia, AISTA said on Thursday. About 2,02,521 tons of sugar is under load. An additional 6,78,237 tonnes of sugar is in the process of being delivered to port-based cleaners, it said.Mills …

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Before Diwali

Before Diwali, edible oil became cheaper

Before Diwali- Edible Oil Price Drops: There is relief news for the general public ahead of Diwali (Before Diwali). The prices of edible oil have been reduced from Rs 4 to 7 per liter. Adani Wilmar and Ruchi Soya Industries have lowered wholesale prices for edible oil to provide relief to the general public. Industry …

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U.S. consumer prices rose 0.3% in August, the lowest in 7 months

U.S. consumer prices rose by 0.3% expected last month, the smallest increase in seven months and a sign of hope that inflation pressure may cool down.August’s earnings fell by a 0.5% increase in July and a 0.9% increase in June, the Department of Labor said on Tuesday. It has been the smallest increase since the …

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GST Council – Income paid contributions issued by IGST, continue to discuss other matters, compensation

The Almighty Property Tax Council, on May 28, decided to exempt GST Covid-related entities submitted on a pay basis through government donations or the recommendation of state officials to any aid agency, until August 31. These include medical oxygen, concentrators, diagnostic marking kit kits and COVID-19 vaccines, etc. The center had already released items through …

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PLI Schemes for Making Large Electronics extended by One Year: FM Nirmala Sitharaman

Finance Minister Nirmala Sitharaman, on June 28, announced that the duration of the Production-Linked Incentive (PLI) mass production program had been extended by one year. The program would run from 2020-21 and continue for a period of five years. The Minister of Finance said the program would continue until 2025-26.Participating companies will receive any five …

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India’s energy consumption increased 18.6% to 129.51 billion units in August

India’s energy consumption grew by 18.6 percent in August to 129.51 billion units (BU) and remained higher than before COVID due to improved economic activity amid a reduction in international closures, according to energy department data. The country’s power consumption in August last year stood at 109.21 BU, down from 111.52 BU in the same …

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The real estate sector to cross $ 1 trillion by 2030: Secretary of Housing

The size of the real estate sector is expected to exceed $ 1 trillion by 2030, Housing and Regional Secretary Durga Shanker Mishra said on Monday. “In 2019-20, the real estate sector accounted for about seven percent of our GDP. Its total contribution was $ 200 billion in our GDP,” he said. He also pointed …

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Finance Minister Nirmala Sitharaman says IRDAI directs insurance companies to prioritize COVID-19 claims

Finance Minister Nirmala Sitharaman has said that the insurance regulator IRDAI should give priority to authorization and settlement of COVID-19 claims to companies. Sitharaman said that reports of cashless insurance refusal were being received by some hospitals. To deal with this situation, the Finance Minister spoke to the Insurance Regulatory and Development Authority (IRDAI) Chairman …

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