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Runaway prices: Food inflation accelerated significantly to 5.1% from a mere 1.96% in April. Ramakrishna G

Consumer inflation quickens to 6.3%

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

Income Tax office in Coimbatore remained closed on Monday after a senior official of the Department tested positive for COVID-19. PHOTO: S. Siva Saravanan / The Hindu.

I-T dept allows manual filing of tax forms for foreign remittance as new e-filing portal continues to face glitches

PTI The I-T department issued a circular allowing manual filing of Form 15CA/15CB (required for foreign remittances) with banks till June 30, so that business transactions may go on

India’s wholesale price inflation shot up to a record 12.94% in May, up from 10.5% in April, driven largely by a sharp spike in fuel and power inflation. Representational image.

Surging fuel prices push wholesale inflation up to nearly 13%

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

Image for representative purposes only

‘Bond’ with the best to stay ahead of inflation

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

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I-T dept allows manual filing of tax forms for foreign remittance as new e-filing portal continues to face glitches

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

Surging fuel prices push wholesale inflation up to nearly 13%

‘Bond’ with the best to stay ahead of inflation

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Tax relief | National

GST brought down on 14 COVID relief goods

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

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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

Australia's economy booms to pre-pandemic levels as consumers, businesses spend

Q1 GDP up 1.8% q/q vs +1.5% consensus; Q4 GDP upwardly revised to +3.2% from +3.1%; Annual output +1.1% vs +0.6% consensus.

NBFCs, HFCs feeling heat of second wave: ICRA

‘Loan overdues are set to increase’

Implementation of first step towards ‘one nation one standard’

Research Design and Standards Organisation (RDSO) integrated with Bureau of Indian Standards.

2020-21 ‘darkest year’ of economy in 40 years: Congress

Former Finance Minister P. Chidambaram said good advice by distinguished economists and renowned institutions has been rebuffed so far and world-wide experience has been ignored

Petrol, diesel prices hiked again, rates at new high

Rates are at the highest in the country in Sri Ganganagar district of Rajasthan where petrol comes for ₹105.52 a litre and diesel for ₹98.32 per litre

SBI pares 2021-22 GDP forecast to 7.9%

“Corporates, in the listed space, reported better growth numbers across parameters in Q4FY21.”

Manufacturing PMI slides to 50.8, job shedding picks up pace

“Manufacturers became increasingly concerned about the negative impacts of the pandemic on operations.”

‘Vaccination key to health of economy,’ says K.V. Subramanian

Economic impact due to spate of lockdowns across States not likely to be as bad as last year, says CEA

RBI asks banks for customer due diligence for transactions in virtual currencies

RBI asked banks, as well as other entities to continue to carry out customer due diligence processes in line with regulations governing standards

GDP shrinks by 7.3%; Q4 uptick moderates 2020-21 carnage

On inflation, the Chief Economic Adviser said it is expected to be range-bound and should not exceed the prescribed level.

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Sulabh Srivastava

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Relatives offer flowers and perform rituals at the grave of a person who died of COVID-19 at a crematorium on the outskirts of Hyderabad on May 23, 2021.

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Photo used for representation purpose only.

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