Business
Petrol prices touch all-time high
Petrol, diesel prices in the country have been kept unchanged on Saturday. At present, petrol and diesel are retailing at an all-time high in India. On July 2, the petrol price was increased by 33 to 37 paise across the nation by state-run oil companies. The fuel prices in the...
Special GST Council meet to discuss compensation-related issues
Union Finance Minister Nirmala Sitharaman on Thursday said a special session of the GST Council will be held soon to discuss all compensation-related issues. She also said that the flow of COVID-19 vaccination across the country will be well managed and all states will be taken care of. “…I...
SBI report justifies under-reporting of Covid deaths as not new
Amid the debate over underreporting of COVID fatalities, economists at SBI on Wednesday said that shortfall in reporting deaths is not a new phenomenon in India. One of the prime reasons for the underreporting is because many of the demises happen without any medical attention and hence, ramping up...
Ordinance bans strikes in essential defence services
New Delhi: The government on Wednesday came out with an ordinance prohibiting any agitation and strike by anyone engaged in the essential defence services. The Essential Defence Services Ordinance 2021 comes in the backdrop of the announcement by major federations of the Ordnance Factory Board (OFB) to go on...
Union Cabinet approves Rs 3.03-lakh crore scheme for power discoms
The Cabinet Committee on Economic Affairs (CCEA) on June 30, approved a reform-based result-linked power distribution scheme worth Rs 3.03 lakh crore that has been in the works for five years. The scheme has been approved with an inclusive Rs 97,000 crore central outlay. The Reform-Based Result-Linked Power Distribution...
SIDBI scheme for MSMEs hit by Covid-19
In a bid to provide liquidity boost to COVID-19-hit small and medium scale industries, India’s principal financial institution for MSMEs – Small Industries Development Bank of India (SIDBI) has unveiled a revamped version of its liquidity scheme. SIDBI will work to provide liquidity support by urgent infusion of funds...
Former IL&FS chief Ravi Parthasarathy arrested
Former chairman of the bankrupt Infrastructure Leasing and Financial Services (IL&FS) Ravi Parthasarathy has been arrested by the Economic Offences Wing-II, here, following a complaint given by 63 Moons Technologies. “The kingpin and the mastermind of the several crore IL&FS and ITNL (IL&FS Transportation Networks Ltd) financial scam Ravi...
Centre to share 70% GST income from vaccine with states, says FM
Finance minister Nirmala Sitharaman on Saturday announced tax relief on various Covid-19 medicines and equipment. However, the Goods and Services Tax (GST) on Covid-19 vaccine to remain same at 5 per cent. Explaining the rationale behind this, Sitharaman said, “5 per cent GST on Covid vaccines will stay. The...
Traders body seeks probe against Amazon, Flipkart
The Confederation of All India Traders (CAIT) on Saturday urged the government to revisit the foreign direct investment norms for e-commerce players and start investigation immediately against e-commerce giants Amazon and Flipkart “without any delay”. The Karnataka High Court on Friday dismissed the plea by e-commerce giants Amazon and...
Satya Nadella elevated as Microsoft chairman
Microsoft named its chief executive officer Satya Nadella as board chairman, an additional role in which he will lead the work to set the agenda for the board. Microsoft Corp on Wednesday announced that the board’s independent directors unanimously elected Nadella to the role of board chair, and unanimously...
