The challenges of the Model Agricultural Land Leasing Act, 2016 and how to protect the interest of small and marginal farmers was discussed in detail.

According to data from GSTN, over 19,552 tickets raised by taxpayers were resolved between March 25 and April 24.

As per the current goods and services tax (GST) audit guidelines, taxpayers have been broadly categorised into three groups based on their annual turnover -- large, medium and small.

Manufacturing PMI stood at a mere 27.4 in April, which was 51.8 in March.

The sale of fertilisers shot up by 45.1 per cent on-year in April 2020.

BHEL has released an Expression of Interest (EOI) inviting global companies to leverage its facilities and capabilities for setting up a manufacturing base in the country.

The economic impact of the pandemic on India is likely to be around Rs 7-8 trillion with sectors such as trade, textiles, aviation, transport, and MSMEs facing the brunt of the impact.

The agency's earlier economic forecast was a range, according to which the GDP may either expand by 1 per cent or contract by 1 per cent in 2020-21.

As most of the small and medium scale industries have started operations from 20th April, the normal consumption level of petrol and diesel is likely to be achieved by July 2020.

In what could be seen as a silver lining for employees, as many as 50% of the organisations have reported no change in the planned salary hike budgets despite the headwinds that the novel-coronavirus pandemic has brought.

Sectoral meetings, held separately in two sessions through video conference, were also attended by Deputy Governors and other senior officers of RBI, the central bank said in a statement.

While the government reportedly prepares a second economic relief package to mitigate the fallout of coronavirus, handing out direct cash to people amid the ongoing lockdown is not a desired solution.

Curiously, the majority of those who say they want their economies to restart before the virus has been contained also report being “very nervous” about leaving home.

“With Covid-19 onslaught, the government has shown tremendous resolve to counter the fallout through socio-economic packages ranging from direct cash transfer to poor and farmers to free food to the needy.”

Even as India is the second-largest consumer of gold, it imported only 50 kg of gold in April, compared to 110.18 tonnes in the same month a year ago.

The WTO work programme defines electronic commerce as the production, distribution, marketing, sale or delivery of goods and services by electronic means.

In a statement, GSTN said this new functionality on the GST portal is aimed at providing a major relief to taxpayers, especially at the time of the COVID-19 crisis when there is limited access to cash resources.

The agency said India's fiscal position has been weak for a long time now and is a major factor constraining sovereign credit rating along with the government debt.

The recommendations are part of a report titled 'COVID-19: Challenges for the Indian Economy - Trade and Foreign Policy Effects'.

The central government too had raised excise duty on petrol and diesel by Rs 3 per litre each in March to raise an additional Rs 39,000 crore annually. This hike negated the benefit arising from international oil prices slumping to two-decade lows.

Petrol, Diesel Price Today:  Prime Minister Narendra Modi’s government late Tuesday evening increased excise duty on petrol by a record Rs 10 per litre, and on diesel by Rs 13 per litre.

India's service sector recorded largest contraction in business activity and new orders in April.

Explaining why online learning has changed the education scenario, the Indian-origin economist said that with classes going online, someone in India can now take a course at MIT.

The spike in the unemployment rate shows that a growing number of job seekers were left disappointed as they could not find jobs and their addition to the labour force merely raised the unemployment rate.

Several noted personalities such as Ramchandra Guha, Mahua Moitra, among others have now said that the Indian-origin economist does not have any Twitter profile.

The forced lockdown period is a good opportunity for everyone to learn basics such as making online fund transfers via the payment gateways, pay renewals, and check balances, etc from the comfort of home.

Amid the lockdown, around 39 crore poor people have received financial assistance of Rs 34,800 crore under the Pradhan Mantri Garib Kalyan Package (PMGKP).

The 27-nation EU economy is predicted to contract by 7.5 per cent this year, before growing by about 6 per cent in 2021.

Even as various companies such as Tata Chemicals and NIVEA India have come forward to make hand sanitizers, the government does not want to take a risk by allowing the companies to export the product.

In an interactive online session organised by All India Management Association (AIMA) on post-COVID-19 scenario for Indian economy, he listed healthcare, education, mobility, genomics, AI, 5G network, fintech and manufacturing as high priority areas for rapid and radical structural reforms.

"I will be able to report on that at the end of next week," he told reporters at the White House, when asked if China is fulfilling its obligations as detailed out in Phase I of the trade deal signed between the two countries in January.

The government’s surprise move to increase excise duty and cess on petrol and diesel may not help the exchequer in raising tax revenues by much.

It noted that the timeliest indicators of UK demand have stabilised in recent weeks, albeit at very low levels, after unprecedented falls during late March and early April.

In a major announcement today, Madhya Pradesh CM Shivraj Singh Chouhan has proclaimed that new registration and license for companies, shops, etc, in MP will be done in one day, compared to 30 days.

The economic and social fallout of COVID 19 is huge on these migrant workers. The immediate wage loss and uncertainty painted by the gloomy economic prospects further worsens their situation.

Chief Minister Yogi Adityanath’s UP government has announced to waive off mandi fee for 46 perishable fruits and vegetables.

The latest move by the UP government has exempted businesses from the purview of almost all the labour laws for the next three years.

Moody's had, in November 2019, downgraded India's outlook to negative from stable on concerns of lower economic growth.

Despite an increase in taxes on petrol and diesel, oil companies are still earning net marketing margins to the extent of Rs 4 per litre, which is above the normal level.

Moody's said high government debt, weak social and physical infrastructure, and a fragile financial sector face further pressures due to the coronavirus outbreak.

Haryana has started to take steps towards solving the age-old water problem with the state disincentivizing sowing of water-intensive paddy crops.

In consumer goods, the textile and clothing sector; food products; and crop and animal production have the highest comparative advantage in India.

The record excise duty hike on petrol and diesel will not help the government bridge the fiscal gap as planned, nor will it help boost economic growth as consumption demand will further be crippled, warns a report. Despite crude prices trading at a two decades low, the government had earlier this week hiked excise duty […]

Gujarat has joined the league of states announcing labour reforms by exempting new projects from provisions of labour laws.

The new labour reforms will promote ease of doing business in the state. however, it is crucial that companies safeguard the interests and wellbeing of the labourers.

The government has decided to borrow Rs 12 lakh cr in the current fiscal, compared to Rs 7.8 lakh cr earlier. 

Food Secretary Sudhanshu Pandey said already intra-state ration card portability is being used, but the transactions are not significant.

Total non-farm payroll employment fell by 20.5 million in April, and the unemployment rate rose to 14.7 per cent, the US Bureau of Labor Statistics reported Friday.

The teams are being sent to Gujarat, Tamil Nadu, Uttar Pradesh, Delhi, Rajasthan, Madhya Pradesh, Punjab, West Bengal, Andhra Pradesh and Telangana.

HSBC Global Asset Management has marked down its exposure from 75% to 100% in its two debt schemes holding the non-convertible debentures (NCDs) of Dewan Housing Finance Corporation (DHFL).