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.

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).

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 Hong Kong Immigration Department has made it clear that it is currently refusing applications/application visa renewals from Indian workers and other foreign immigrants who have changed their contracts too much without any legitimate reason.In a…

Mainland professionals and middle class residents have found that a decision that was intended to make their life easier may well have backfired on them. Historically, many mainland couples have taken a trip to Hong Kong to have their children, due to…

Hong Kong announces the first phase of visa sanctions for PhilippinesAmbassadorial passport holders and the government officials of Philippines will not be able to visit Hong Kong without a visa effective February 5, 2014. This was announced by the Hong…

The Hong Kong Tourism Commission has confessed that hundred million people will be visiting the city every year by 2023 which is almost twice the current amount.In January, Gregory So Kam-leung, the Secretary for Economic and Commerce Development, produced…

Leung Chun-Ying, Hong Kong's Chief Executive, has opposed the plan to impose an entry tax for the foreigners who are entering the territories by land.Two democratic parties of Hong Kong had proposed US$ 13 tax to restrict the inflow of mainland tourists.There…

On Sunday, 09th March, 2014, Hong Kong’s immigration department has confirmed that a resident of Hong Kong was on the Beijing-bound flight MH370, which was a Boeing 777-200, which went missing.Additionally, the department provided the passenger’s…

On 09th, April 2014, Hong Kong's city government has said that around 1,181 travel documents have been identified as forged at the International Airport of Hong Kong over the previous 3 years.Lai Tung kwok, Hong Kong's Secretary for Security has said…

Effective 16th April, 2014, the Immigration Department of Hong Kong has announced that e-channels provided with voice navigation function would be working at the Macau Ferry Terminal (MFT) point of control, intended to assist visually impaired persons…

The Hong Kong Special Administrative Region ‘s (HKSASR’s) is estimating that about 4.89 million travelers will transit through its air,  sea and land control points during the coming Labour Day and Buddha's Birthday festival season (from May…

Hong Kong and Federal Republic of Germany have signed a Memorandum of Understanding (MOU) concerned with the automated clearance service usage on a shared basis. The MOU is considered as a new milestone in the collaboration between the countries in immigration…

Hong Kong’s immigration department has announced that Central African Republic nationals will have to acquire a visa to enter Hong Kong for any purpose of visit with effect from 21 July 2014.  From the beginning, Hong Kong has followed a progressive…

The Hong Kong Special Administrative Region Government has decided to work with the Government of Germany to additionally increase the yearly quota from 150 to 300 under Hong Kong Working Holiday Scheme for Germany. Germany has grown popular as…

Hong Kong and Germany will execute the service of automated clearance mutually.Effective 01 September 2014, people with HKSAR (Hong Kong Special Administrative Region) electronic passport will be authorized to get register for the automated service of…