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COVID-19 induced lockdowns have crushed the confidence levels of city dwellers, RBI consumer confidence survey shows

Data | Negative perception on economy and employment rises to an eight-year high

The Hindu Data Team More than 80% of respondents say the country's economic and employment situation worsened in May 2021

Tax revenues increase due to sharp rise in union excise duties

Data | Centre's tax revenues grew despite stringent lockdown on the back of excise duties

The Hindu Data Team Shift in tax burden comes at a time when pandemic has led to many job losses and reduced income levels

RBI allows Centrum to set up small finance bank, paves way for takeover of PMC Bank

PTI The PMC Bank had invited Expression of Interest (EoI) from eligible investors for investment/ equity participation for its reconstruction and had received four proposals.

Representational image.

CII pitches for ₹3 lakh crore fiscal stimulus to push economic growth

PTI CII president T.V. Narendran also advocated for appointment of a “Vaccine Czar” for speedy vaccination coverage

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No significant chance of Indians’ Swiss bank deposits rising: Finance Ministry

Data

Data | Negative perception on economy and employment rises to an eight-year high

Data

Data | Centre's tax revenues grew despite stringent lockdown on the back of excise duties

RBI allows Centrum to set up small finance bank, paves way for takeover of PMC Bank

CII pitches for ₹3 lakh crore fiscal stimulus to push economic growth

Speed, scale of vaccination to shape recovery: RBI Bulletin

Direct tax collections surge in 2021-22

Economists said the tax collections suggest the first quarter of this year could record double-digit growth.

India's exports up 46% to $14 billion during June 1-14

Imports too rose by 98.33% to $19.59 billion during the period

Retail sales decline 79% from two years earlier

Need government support, says RAI

Exports surge 69%, trade deficit widens

Imports grew by almost 74% to $38.6 billion — leaving a trade deficit for the month at $6.3 billion

Fin Min, Infosys to sort out I-T site glitches

Nirmala Sitharaman had urged Infosys’s non-executive chairman Nandan Nilekani to ensure tax payers were not troubled on account of the flaws in the portal unveiled on June 7

Retail inflation soars to 6.3%, a 6-month high

Rural areas see sharper spurt; WPI inflation races to record 12.94% spurred by rise in fuel, edible oils

Surging fuel prices push wholesale inflation up to nearly 13%

Fuel and power inflation nearly quadrupled to 37.6% from the 9.75% recorded in March this year,

‘Bond’ with the best to stay ahead of inflation

Senior citizens, common investors should opt for high-quality corporate bonds to mitigate the risk of negative real returns

Explained | How does El Salvador plan to use Bitcoin as legal tender?

What is the rationale for using Bitcoin? How is El Salvador mitigating the risks?

GST brought down on 14 COVID relief goods

Council leaves the 5% tax levied on vaccines unchanged.

Diesel at ₹ 100/ltr mark in Rajasthan; Karnataka sees ₹ 100/ltr petrol

Fuel prices differ from state to state.

Finance Ministry tightens belt

Tells Ministries to cut ‘controllable’ expenditure by 20%

IIP edged up 0.08% in April from same month in 2019

Output contracted from March’s level

Review GST sop’s timing, urges industry

GST Council set to decide on rate cuts for crucial COVID-19 related vaccines, medicines, equipment

Speed up vehicle scrapping: Finance Minister

Nirmala Sitharaman said that enhanced capital expenditure will play a critical role in revitalising the economy post-pandemic

After petrol, diesel at almost ₹ 100-mark in Rajasthan

Petrol price was hiked by 29 paise per litre and diesel by 28 paise, according to a price notification of state-owned fuel retailer.

‘IT, pharma, e-com buck job losses, witness hiring surge’

Some IT roles command 50% wage premium: Balakrishnan

GST: Finance Ministry revamps Groups of Ministers

Ajit Pawar to steer GoM on IT challenges

GST Council to meet on June 12 to discuss tax cut on COVID essentials, black fungus medicine

Some state Finance Ministers in the GoM are understood to have pitched for a rate cut on COVID essentials.

Passenger vehicle retail sales down 59% in May as COVID disruptions impact offtakes: FADA

Total registrations across categories declined by 55% to 5,35,855 units last month compared to 11,85,374 units in April

Equity mutual funds saw ₹10,000-crore inflow in May

Debt MFs’ outflow stood at ₹44,512 cr.

RBI Deputy Governor Jain gets extension

The Reserve Bank on Wednesday said the government has extended the tenure of Deputy Governor Mahesh Kumar Jain for two years."The Central Government

Finance Ministry bats for 24x7 vaccination drives

'Vaccination of 70 cr. people by Sept. 2021 paramount to boost consumers and investor confidence'

India’s exports rise 52.39% to $7.1 bn in first week of June

Mainly due to healthy growth in shipments in sectors including engineering, gems and jewellery and petroleum products, says Ministry data

India expected to grow at 8.3%, says World Bank

The growth rate forecasted for India for 2021-22, the World Bank is an upward revision from its January forecast of 5.4%.

Nirmala Sitharaman asks Infosys to fix tech glitches on new income tax e-filing portal

Infosys was in 2019 awarded a contract to develop the next-generation income tax filing system.

FPIs invest ₹8,000 cr in Indian markets in just four trading sessions

Foreign investors have infused close to ₹8,000 crore into Indian equities in the first four trading sessions of June as risk-on sentiment improved

Explained | Why has the U.S. delayed tariffs under digital services tax?

Why is the Biden administration considering retaliatory measures? How will the move impact India?

GST collections in May drop to lowest level since September 2020

The ₹1,02,709 crore collected as GST in May includes revenues from domestic transactions till June 4.

G7 nations reach historic deal to tax big multinationals

The Group of Seven said it would back a minimum global corporation tax rate of at least 15%.

No plan to print more currency notes, says Das

‘Governments’ borrowing handled well’

No change in RBI’s view on cryptocurrencies, we have major concerns: Das

The RBI had first come out with a circular on the issue in 2018, cautioning people about investing in cryptocurrencies, which do not have any sovereign character.

Finance Minister to meet heads of insurers on June 5

Discussions are also likely to be held on simplifying the procedures and documentations needed to settle claims under the schemes in a seamless and time-bound manner.

Banks to lend ₹15,000 crore to hotels, restaurants, travel agents, SPA owners

The Reserve Bank of India (RBI) has opened a separate On-tap Liquidity Window to help mitigate the adverse impact of the second wave of the pandemic

RBI keeps policy rates unchanged, cuts FY22 GDP growth forecast to 9.5%

“The impulses of growth are still alive,” says RBI Governor Shaktikanta Das

Services exports rose by 6.4% in May

Wadhawan says exports recovery ‘comprehensive’; asserts volumes rather than prices driving growth

India’s services sector activities slumps into contraction territory in May: PMI

International demand for Indian services also worsened, with new export business falling at the quickest rate in six months

FICCI urges graded tack to unlock economy

‘Surveillance testing must continue’

Nix doomsday forecasts, Anurag Thakur tells Chidambaram

Economy will rebound in times ahead, claims Union Minister of State for Finance.

India’s trade deficit hits 8-month low

Exports rise 67% in May 2021

Idea of GST is dead, says Chidambaram

In a scathing attack on the government’s implementation of the goods and services tax (GST), former Union Finance Minister P. Chidambaram on Wednesday

Exports jump to $32.21 billion in May; trade deficit at $6.32 billion

Exports in May last year stood at $19.24 billion and in May 2019 it was at $29.85 billion, the Commerce Ministry’s preliminary data showed

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