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Oil PSUs commit Rs 100 cr to Badrinath revamp: ‘In process’ before Covid

May 9, 2021 1:27:40 am

Union Petroleum Minister Dharmendra Pradhan said the move “would help attract tourists to the state”, adding that oil PSUs would also contribute to the development of Kedarnath, Uttarkashi, Yamunotri and Gangotri.

CBIC eases norm on furnishing bonds for import, export of goods till June 30

May 9, 2021 1:18:11 am

In a circular, the CBIC said importers and exporters will have to furnish an undertaking to the Customs authorities in lieu of the bonds till June 30.

Forex reserves see fourth week of gains, close to all-time high

May 9, 2021 12:54:12 am

With the latest gain, the forex kitty posted its fourth successive week of gains — starting with a rise of $4.344 billion to reach $581.213 billion during the week ended April 9.

Pandemic, lockdown calls see cash with public hit record high

May 8, 2021 7:47:35 am

According to the data released by the Reserve Bank of India, the currency with public rose by Rs 15,919 crore in the fortnight ended April 23 to cross the Rs 28 lakh crore mark for the first time.

No steep premium hike for health policies: Irdai

May 8, 2021 1:12:06 am

The Irdai said a health regulator would have helped in terms of adherence to treatment protocols, reasonability of charges and service quality at hospitals.

Suresh Prabhu seeks release of FY20 benefits for services exports

May 8, 2021 1:07:13 am

Prabhu recommended that the travel and tourism (including health tourism), education and aviation sectors be exempted from the Rs 5-crore ceiling as they have been the worst hit by Covid.

Hospitals allowed to take cash payments of over Rs 2 lakh

May 8, 2021 12:59:11 am

The government has allowed hospitals, dispensaries and Covid care centres to accept cash payments in excess of Rs 2 lakh from patients or kin till May 31.

‘Covid wave: Expect muted hit on economy as against first’

May 8, 2021 5:55:45 pm

The "need of the hour is, therefore, to expand vaccination at a fast pace", the Finance Ministry noted in its Monthly Economic Review for April released Friday.

Impact of COVID-19 second wave on economy to remain muted: Finance Ministry report

May 7, 2021 4:22:26 pm

The fiscal position of the central government, it said, has witnessed an improvement in the recent months with a revival in the economic activities during the second half of FY2020-21.

India to breach fiscal deficit target in FY22: Fitch Solutions

May 7, 2021 2:41:04 pm

The government is targeting a deficit between revenue it earns and what it spends at 6.8 per cent of the gross domestic product (GDP) in FY22 (April 2021 to March 2022).

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Rs 50,000-crore boost for health, loan recast for small borrowers

May 6, 2021 3:33:29 am

RBI Governor Shaktikanta Das Speech, Announcements: The Reserve Bank of India (RBI) announced a term liquidity facility of Rs 50,000 crore for access to emergency health security.

Ready to go ‘unconventional’, ‘devise new responses’: Shaktikanta Das

May 6, 2021 2:59:55 am

RBI Governor Shaktikanta Das said inflation trajectory over rest of the year will be shaped by Covid.

Goldman Sachs lowers India growth forecast for FY21 to 11.1%

May 4, 2021 4:39:44 pm

"Overall, most indicators still suggest that the impact has been less severe than it was in Q2 (April-June) last year," Goldman Sachs said.

Raghuram Rajan: Lack of leadership, complacency behind India’s Covid-19 crisis

May 4, 2021 10:49:19 pm

After a drop in cases last year, “there was a sense that we had endured the worst the virus could give us and we had come through and it was time to open up, and that complacency hurt us,” said Raghuram Rajan

COVID-19 crisis: CII calls for strongest national steps, curbs on economic activity

May 3, 2021 2:04:23 pm

CII also suggested certain measures such as deployment of armed forces and central security forces for logistics, infrastructure and personnel; security at hospitals for medical personnel; tapping manpower sources such as retired medical personnel, doctors and nurses; and distribution of vaccination supplies to states according to well-defined criteria.

Factory orders, production rise at slowest rates in 8 months in April in India: PMI

May 3, 2021 12:13:35 pm

The seasonally adjusted IHS Markit India Manufacturing Purchasing Managers' Index (PMI) was at 55.5 in April, little changed from March's reading of 55.4.

Rising engineering, gems shipments help exports jump to $30.2 bn in Apr

May 3, 2021 2:03:36 am

The country’s merchandise exports were to the tune of $10.17 billion in April 2020. Trade deficit in that month was $6.92 billion.

Manufacturers take onus, shut plants to combat virus surge

May 3, 2021 1:57:54 am

While Hero MotoCorp on Saturday announced an extension of its shutdown of plants by six more days till May 9, JCB India, a leading manufacturer of earthmoving and construction equipments, on Friday announced a 10-day pause across all its manufacturing facilities in India, beginning May 1.

With change in vaccine procurement policy, Budgetary allocation likely to see tweaks

May 3, 2021 1:51:17 am

In determining the Budgetary allocation for vaccine, the Finance Ministry initially estimated requirement of a total of 290 crore vaccine shots for the entire population, after taking into account two shots per individual and also the vaccine that is wasted during the entire process.

IGST slashed on oxygen concentrators for personal use

May 2, 2021 4:19:27 am

“IGST on Import of Oxygen Concentrators for personal use has been reduced from 28 per cent to 12 per cent to bring IGST rate on such personal imports at par with commercial imports of the same, the Central Board of Indirect Taxes and Customs (CBIC) tweeted.