Economy news

• Centre buys paddy worth Rs 1.23 lakh cr so far this season at MSP; 94 lakh farmers benefitted

  20-02-2021 15:16 via financialexpress.com
  
  "In the ongoing Kharif Marketing Season (KMS) 2020-21, Government continues to procure Kharif 2020-21 crops at MSP from farmers as per existing MSP Schemes, as was done in previous seasons," the Food Ministry said in a statement.
  
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• Getting turbo-charged petrol SUV? Check out these 6 smart offerings under Rs 10 lakh

  20-02-2021 13:31 via zeenews.india.com
  
  The Indian car buyer demands much more at a lesser price. The road conditions in the Indian context are nothing to write home about. this has created a new segment in the market. The sub-compact SUV is good looking, they offer great space and can be managed even when the streets go wrong. These cars offer great security and a desirability quotient. 
  
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• Foxconn chief expects limited impact from chip shortage

  20-02-2021 13:01 via timesofindia.indiatimes.com
  
  The chairman of Apple Inc supplier Foxconn said on Saturday he expects his company and its clients will face only “limited impact” from a chip shortage that has rattled the global automotive and semiconductor industries.
  
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• Bitcoin, ether hit fresh highs

  20-02-2021 13:01 via timesofindia.indiatimes.com
  
  Bitcoin hit a fresh high in Asian trading on Saturday, extending a two-month rally that saw its market capitalisation cross $1 trillion a day earlier.
  
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• Petrol, diesel prices rise for 12th straight day

  20-02-2021 12:52 via timesofindia.indiatimes.com
  
  Petrol price on Saturday touched an all-time high of Rs 97 per litre in Mumbai while diesel rate crossed Rs 88-mark. Petrol price was hiked by record 39 paise per litre and diesel by 37 paise a litre, according to a price notification of state-owned fuel retailers.
  
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• Nirmala Sitharaman reacts on petrol price hike

  20-02-2021 12:06 via timesofindia.indiatimes.com
  
  Finance minister Nirmala Sitharaman on Saturday said that steep rise in petrol prices is a vexatious issue for which there is no answer except for reducing it.
  
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• A year after Covid crash, pandemic losers are the new winners

  20-02-2021 12:06 via timesofindia.indiatimes.com
  
  A year after Covid-19 reordered world markets, sparking a brutal selloff for many stocks and creating new lockdown darlings, the prospect of vaccine-led reflation is turning the tide for the pandemic’s main laggards.
  
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• Nokia 3.4 launched in India at Rs 11,999; Check specifications and features

  20-02-2021 11:51 via zeenews.india.com
  
  Nokia unlike other Chinese brands focus on build quality and giving a cleaner Android experience. The Nokia 3.4 does not get unnecessary advertisements that all the Chinese companies are pushing to the users. This makes a considerable option for those looking to buy a budget Android smartphone.
  
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• Union Budget 2021: How Nirmala Sitharaman expanded powers of tax authorities

  20-02-2021 10:48 via financialexpress.com
  
  Union Budget 2021: How Nirmala Sitharaman expanded powers of tax authorities
  
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• Taxman has another trick up his sleeve under GST Act; here’s all you need to know

  20-02-2021 10:19 via financialexpress.com
  
  The objective of GST Audit is to ensure and promote the correctness of turnover declared, taxes paid, refund claimed & input tax credit availed, and to assess the compliance of Registered Taxpayers (RTP) with the provisions of the GST Act and rules made thereunder.
  
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• Petrol at Rs 97/litre in Mumbai, diesel crosses Rs 88-mark

  20-02-2021 09:57 via moneycontrol.com
  
  Petrol price was hiked by record 39 paise per litre and diesel by 37 paise a litre, according to a price notification of state-owned fuel retailers.
  
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• Link SBI savings account with Aadhaar to get Direct Benefit Transfer; simple steps to do it

  20-02-2021 09:57 via zeenews.india.com
  
  The State Bank of India in a tweet said that "We would like to inform our customers that Aadhar Card seeding is mandatory for those desirous of receiving any benefits or subsidy from Govt. of India through Direct Benefit Transfer".  It is mandatory to link your Aadgar card to your bank account if you want to avail of government subsidies. 
  
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• Centre releases Rs 1 lakh crore GST compensation to states

  20-02-2021 08:56 via moneycontrol.com
  
  The ministry on Friday released the 17th weekly instalment of Rs 5,000 crore to 23 states and 3 Union Territories (Delhi, JammuKashmirPuducherry), taking the total amount released so far under the special borrowing window set up in October last year to Rs 1 lakh crore.
  
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• Sitharaman urges industry to unleash animal spirits

  20-02-2021 08:52 via timesofindia.indiatimes.com
  
  Finance minister Nirmala Sitharaman on Saturday exhorted India Inc to unleash animal spirits and bring in fresh investment to make India one of the fastest growing economies of the world.
  
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• FB has 'tentatively friended' us again: Australia

  20-02-2021 08:52 via timesofindia.indiatimes.com
  
  Facebook Inc is back at the negotiating table, Australian Prime Minister Scott Morrison said on Saturday after the tech giant this week blocked news on its site in the country.
  
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• Centre, states should work closely to boost growth: PM

  20-02-2021 08:52 via timesofindia.indiatimes.com
  
  Prime Minister Narendra Modi on Saturday said that the Centre and states need to work closely in collaboration to boost economic growth of the country. Addressing the sixth meeting of the Niti Aayog governing council, PM said that the initiatives taken by the government would provide opportunity to everyone to participate in nation building to its full potential.
  
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• Google suspends second AI ethics leader over research dispute, diversity grows

  20-02-2021 08:10 via zeenews.india.com
  
  Google's ethics in artificial intelligence work has been under scrutiny since the firing of Gebru, a scientist who gained prominence for exposing bias in facial analysis systems. The dismissal prompted thousands of Google workers to protest. 
  
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• Centre, states need to work closely to boost economic growth: PM Modi at Niti Aayog meet

  20-02-2021 08:10 via zeenews.india.com
  
  While addressing the chief ministers and officials of state governments during the virtual meet, PM Modi said, “In the COVID period, we saw how Centre and states worked together, the nation succeeded and a good image of India was built before the entire world..."
  
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• Centre, states should work closely to boost economic growth: PM Modi

  20-02-2021 07:59 via timesofindia.indiatimes.com
  
  Prime Minister Narendra Modi on Saturday said that the Centre and states need to work closely in collaboration to boost economic growth of the country. Addressing the sixth meeting of the Niti Aayog governing council, PM said that the initiatives taken by the government would provide opportunity to everyone to participate in nation building to its full potential.
  
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• Accenture spends $1bn on reskilling employees: CEO

  20-02-2021 07:55 via timesofindia.indiatimes.com
  
  Accenture CEO Julie Sweet has said the company spends $1 billion on reskilling its people for professional development. “We do massive reskilling. We invest $1 billion a year and millions of training hours. All of this is a part of our commitment to sustainability. This is how we operate and we are doing this for many years now,” Sweet said at the Nasscom Technology & Leadership Forum 2021 on Friday.
  
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• Link SBI savings account with Aadhar to get Direct Benefit Transfer; simple steps to do it

  20-02-2021 07:45 via zeenews.india.com
  
  The State Bank of India in a tweet said that "We would like to inform our customers that Aadhar Card seeding is mandatory for those desirous of receiving any benefits or subsidy from Govt. of India through Direct Benefit Transfer".  It is mandatory to link your Aadgar card to your bank account if you want to avail of government subsidies. 
  
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• Deccan Urban Co-op Bank: RBI puts Rs 1,000 withdrawal limit for next 6 months

  20-02-2021 06:38 via zeenews.india.com
  
  The Reserve Bank of India has put restrictions on the Deccan Urban Co-operative Bank Ltd from granting fresh loans or accepting deposits on Friday (February 19). The Deccan Urban Co-operative Bank Ltd has been prohibited from making any fresh investments or incur any liability without taking permission from the Reserve Bank of India. 
  
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• Deccan Urban Co-op Bank: RBI caps withdrawal limit at Rs 1,000 for next 6 months

  20-02-2021 06:22 via timesofindia.indiatimes.com
  
  Deccan Urban Co-op Bank: RBI caps withdrawal limit at Rs 1,000 for next 6 months
  
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• Govt eases compliance burden on unlisted companies

  20-02-2021 06:03 via timesofindia.indiatimes.com
  
  In a significant change in rules, the government has eased the burden on unlisted Indian companies from compliance requirements under the Companies Act if their debt instruments are listed on exchanges or they are listed overseas.
  
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• Benelli Leoncino 500 launched at Rs 4.59 lakh in India, check features

  20-02-2021 05:57 via zeenews.india.com
  
  Benelli Leoncino is powered by a 500cc twin-cylinder, DOHC, liquid-cooled engine. This 500cc mill is capable of producing 47.5 PS at 8,500 rpm and peak torque of 46Nm at 6,000 rpm. The engine is four-stroke, consists of 8 valves and is coupled to a 6-speed gearbox. 
  
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• Google fires 2nd AI ethics leader as dispute grows

  20-02-2021 05:47 via timesofindia.indiatimes.com
  
  Alphabet Inc's Google fired staff scientist Margaret Mitchell on Friday, they both said, a move that fanned company divisions on academic freedom and diversity that were on display since its December dismissal of AI ethics researcher Timnit Gebru.
  
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• Facebook has 'tentatively friended' us again, Australia says

  20-02-2021 05:47 via timesofindia.indiatimes.com
  
  Facebook Inc is back at the negotiating table, Australian Prime Minister Scott Morrison said on Saturday after the tech giant this week blocked news on its site in the country.
  
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• Google fires second AI ethics leader as dispute over research, diversity grows

  20-02-2021 05:28 via timesofindia.indiatimes.com
  
  Alphabet Inc's Google fired staff scientist Margaret Mitchell on Friday, they both said, a move that fanned company divisions on academic freedom and diversity that were on display since its December dismissal of AI ethics researcher Timnit Gebru.
  
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• OnePlus 9 specifications leaked: to get 120Hz display and SD 888 Soc, know more

  20-02-2021 05:16 via zeenews.india.com
  
  OnePlus is expected to launch its new OnePlus 9 series in March 2021. The company will launch three models in the series which include the OnePlus 9, OnePlus 9 Pro, OnePlus 9 Lite. Tipster TechDroider has shared the screenshots which give us details about the OnePlus 9. 
  
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• Gold dips to 8 month low on rising dollar

  20-02-2021 05:00 via timesofindia.indiatimes.com
  
  Price of gold in India slid below the Rs 46,000-per-10gm mark for the first time in about eight months. This was the result of the US dollar becoming stronger due to rising bond yields in the world’s biggest economy, leading to a selloff in the yellow metal globally.
  
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• Fuel price on rise for 12th consecutive day, check today's Petrol - Diesel prices in metro cities

  20-02-2021 04:10 via zeenews.india.com
  
  Petrol and diesel are being sold at Rs 90.58 per litre and Rs 80.97 per litre, in Delhi. Notably, fuel prices are witnessing a relentless hike in the country, burning a hole in the common commuter’s pocket. In Mumbai, the price of petrol is at an all-time high as it touched the Rs 97 per litre mark after a hike of 38 paise. 
  
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• Truck rentals surge 13% in 6 weeks on fuel, tyre costs

  20-02-2021 04:06 via timesofindia.indiatimes.com
  
  Rising fuel and tyre prices, coupled with an improvement in cargo availability, have resulted in a sharp increase in truck rentals in the last six weeks. According to S P Singh, senior fellow and coordinator at the Indian Foundation of Transport Research & Training (IFTRT), between January and February 16, truck rentals on trunk routes have gone up by 12-13%. Half of that hike came in the last fortnight itself.
  
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• Govt to appeal against Cairn ruling

  20-02-2021 03:50 via timesofindia.indiatimes.com
  
  Cairn Energy Plc’s pitch for an early settlement of its claims hasn’t cut ice with the government, which is all set to appeal against an international tribunal’s ruling in the $1.2-billion “retrospective tax” case.
  
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• ‘Altcoins’ up 5x on hunt for next Bitcoin

  20-02-2021 03:50 via timesofindia.indiatimes.com
  
  Altcoins, or alternate cryptocurrencies, are gaining traction because buyers find them cheaper than Bitcoins, which have been reaching new highs every day. Most of the capital has gone into the top five altcoins — Ethereum (ticker symbol ETH), Ripple (XRP), Binance Coin (BNB), Stellar (XLM) and Tron (TRX).
  
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• Subscriber base of NPS, APY up 22% to 4.05 crore at January-end 2021: PFRDA

  20-02-2021 03:43 via moneycontrol.com
  
  There were over 3.33 crore subscribers under both the schemes by the year-ago same period.
  
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• Opposition spreading false propaganda about farm laws: FM Nirmala Sitharaman

  20-02-2021 03:35 via moneycontrol.com
  
  Addressing the traders#39; cell of Tamil Nadu BJP here, she also said those who were causing hindrance to the progress of the growth of Tamil Nadu were now criticising Prime Minister Narendra Modi#39;s government at the Centre.
  
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