Economy news

• WPI inflation eases to 1.22% in December as food prices fall

  14-01-2021 09:12 via timesofindia.indiatimes.com
  
  WPI inflation eases to 1.22% in December as food prices fall
  
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• Eye on FY22: Tax revenue to witness big jump; GDP recovery, fuel taxes, anti-evasion steps to bolster receipts

  26-01-2021 00:30 via financialexpress.com
  
  Most analysts expect the nominal GDP to grow at 15% or thereabouts in FY22; going by historical pattern, it is possible that the tax revenue will grow at the same rate (buoyancy 1) or even up to five percentage points higher.
  
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• Unctad report: India sees sharpest rise in FDI inflows among key nations

  25-01-2021 23:45 via financialexpress.com
  
  Developing economies drew as much as 72% of global FDI in 2020 – their highest share on record. Asian naions did particularly well, attracting $476 billion in FDI last year.
  
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• Centre releases 13th instalment of GST compensation payment to states

  25-01-2021 22:15 via financialexpress.com
  
  The Central government borrows the funds under a special window and passes it on to states in back-to-back loan arrangement.
  
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• 'India should cut tariffs on industrial goods'

  25-01-2021 19:48 via timesofindia.indiatimes.com
  
  No major economy has grown 8-10 per cent without opening up of market, and India should bring down tariff on industrial goods to 10 per cent, Niti Aayog former vice-chairman Arvind Panagariya said on Monday.
  
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• 59 Chinese apps permanently banned in India

  25-01-2021 19:48 via timesofindia.indiatimes.com
  
  In a sweeping move that may lead to legal challenges and further acrimony between India and China in the digital space, the government has permanently banned 59 Chinese apps, and these are believed to include top ones such as ByteDance’s TikTok, Baidu, WeChat, Alibaba’s UC Browser, shopping app Club Factory, Mi Video Call (Xiaomi), and BIGO Live.
  
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• TCS becomes most valued firm by mcap again

  25-01-2021 18:36 via timesofindia.indiatimes.com
  
  Country's largest software exporter Tata Consultancy Services (TCS) on Monday surpassed Reliance Industries Ltd to become the country's most valued firm by market capitalisation. In another milestone, TCS also emerged as the most valued IT company in the world as its market valuation went past that of Accenture.
  
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• India should cut tariffs on industrial goods: Panagariya

  25-01-2021 18:36 via timesofindia.indiatimes.com
  
  No major economy has grown 8-10 per cent without opening up of market, and India should bring down tariff on industrial goods to 10 per cent, Niti Aayog former vice-chairman Arvind Panagariya said on Monday.
  
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• TCS becomes most valued domestic firm, surpasses RIL

  25-01-2021 17:11 via timesofindia.indiatimes.com
  
  TCS becomes most valued domestic firm, surpasses RIL
  
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• Explained: How to read the Union Budget

  25-01-2021 16:58 via moneycontrol.com
  
  The finance minister#39;s budget speech is one of the many parts of the budget documents, all of which are uploaded on indiabudget.gov.in within hours of the speech. We explain what you need to look out for in the documents.
  
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• Amazon moves Delhi HC to block Reliance-Future deal

  25-01-2021 16:22 via timesofindia.indiatimes.com
  
  Amazon has intensified its legal battle against Future Group and its promoter -Kishore Biyani-with a new case in the Delhi high court to enforce the Singapore arbitration ruling in India, which had stayed the Rs 24,731 crore Reliance-Future deal.
  
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• Bullet Train: Larson & Toubro bags contract for procurement, fabrication of still bridges

  25-01-2021 15:45 via zeenews.india.com
  
  National High-speed Rail Corporation Limited has awarded Contract for Procurement and Fabrication of 28 steel bridges (Superstructure) for crossing over railway lines, rivers, highways, road and other structures (P-4 Package) for Mumbai-Ahmedabad High-Speed Rail Corridor, on Monday.
   
  
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• TCS once again becomes the most valued domestic firm by mcap

  25-01-2021 15:41 via timesofindia.indiatimes.com
  
  Country's largest software exporter Tata Consultancy Services (TCS) on Monday surpassed Reliance Industries Ltd to become the country's most valued firm by market capitalisation. In another milestone, TCS also emerged as the most valued IT company in the world as its market valuation went past that of Accenture.
  
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• RBI refutes reports of withdrawal of old Rs 100 notes

  25-01-2021 15:41 via timesofindia.indiatimes.com
  
  The Reserve Bank of India (RBI) on Monday refuted reports of withdrawal of old series of Rs 100, Rs 10 and Rs 5 currency notes. While announcing the issuance of new Rs 100 denomination banknotes with base colour lavender in July 2018, RBI had said banknotes in the denomination of Rs 100 issued by it in the earlier series will continue to be legal tender.
  
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• RBI refutes reports of withdrawal of old Rs 100, Rs 10, Rs 5 notes

  25-01-2021 15:25 via timesofindia.indiatimes.com
  
  The Reserve Bank of India (RBI) on Monday refuted reports of withdrawal of old series of Rs 100, Rs 10 and Rs 5 currency notes. While announcing the issuance of new Rs 100 denomination banknotes with base colour lavender in July 2018, RBI had said banknotes in the denomination of Rs 100 issued by it in the earlier series will continue to be legal tender.
  
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• Google workers to form global union alliance

  25-01-2021 15:02 via timesofindia.indiatimes.com
  
  Google employees from across the globe are forming a union alliance, weeks after more than 200 workers at the search engine giant and other units of parent company Alphabet Inc formed a labor union for US and Canadian offices.
  
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• Amazon tries to block Future's asset sale to RIL

  25-01-2021 15:02 via timesofindia.indiatimes.com
  
  Amazon.com Inc has requested to block partner Future Group’s $3.4 billion deal to sell its retail assets to Reliance Industries, in its latest attempt to derail the deal, a court filing seen by Reuters showed.
  
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• Sensex slips 531 points; Nifty ends below 14,250

  25-01-2021 14:47 via timesofindia.indiatimes.com
  
  Equity indices plunged on Monday with the benchmark BSE sensex falling over 500 points dragged by losses in IT and FMCG stocks.The 30-share BSE index fell 531 points or 1.09 per cent to finish at 48,348; while the broader NSE Nifty settled 133 points or 0.93 per cent lower at 14,239.
  
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• Amazon tries to block Future's asset sale to RIL again

  25-01-2021 14:47 via timesofindia.indiatimes.com
  
  Amazon.com Inc has requested to block partner Future Group’s $3.4 billion deal to sell its retail assets to Reliance Industries, in its latest attempt to derail the deal, a court filing seen by Reuters showed.
  
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• Awaiting historic Budget: Anything less than 1991 redux could be missed opportunity

  25-01-2021 12:14 via financialexpress.com
  
  Awaiting historic Budget: Anything less than 1991 redux could be missed opportunity
  
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• Union Budget 2021: Agriculture remains key for rural India, here’s what more can be done for farmers

  25-01-2021 12:09 via financialexpress.com
  
  Union Budget 2021: Agriculture remains key for rural India, here’s what more can be done for farmers
  
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• Sensex down by over 500 points to close at 48,348

  25-01-2021 12:09 via timesofindia.indiatimes.com
  
  Sensex down by over 500 points to close at 48,348
  
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• Sensex slips 531 points to close at 48,348; Nifty ends below 14,250

  25-01-2021 11:44 via timesofindia.indiatimes.com
  
  Equity indices plunged on Monday with the benchmark BSE sensex falling over 500 points dragged by losses in IT and FMCG stocks.The 30-share BSE index fell 531 points or 1.09 per cent to finish at 48,348; while the broader NSE Nifty settled 133 points or 0.93 per cent lower at 14,239.
  
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• Economy shows signs of recovery as Covid cases fall

  25-01-2021 11:44 via timesofindia.indiatimes.com
  
  India’s economy showed signs a recovery is taking root as waning virus cases and a vaccine roll-out supported sentiment and as focus turns to further stimulus possible in the upcoming Union Budget 2021-22.
  
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• Another demonetisation of small notes? RBI clarifies on withdrawing old Rs 100, Rs 10, Rs 5 notes

  25-01-2021 11:08 via financialexpress.com
  
  Reserve Bank of India today said that reports surrounding the withdrawal of old series of some banknotes are incorrect.
  
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• Budget 2021: Govt may tweak customs duties on host of goods

  25-01-2021 10:37 via moneycontrol.com
  
  They said that while import duties could be hiked on over 20 products such as cut and polished diamonds, rubber goods, leather garments, telecom equipment and carpet, the customs duties could be removed on select raw materials (like wood in rough, swan wood and hard board) used for furniture manufacturing and copper concentrate.
  
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• Finance Ministry releases weekly instalment of Rs 6,000 crore to states meet GST shortfall

  25-01-2021 10:11 via moneycontrol.com
  
  Till now, 70 per cent of the total estimated GST compensation shortfall has been released to the states and union territories (UTs) with legislative assembly.
  
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• India's economy shows signs of recovery as coronavirus cases decline

  25-01-2021 09:58 via timesofindia.indiatimes.com
  
  India’s economy showed signs a recovery is taking root as waning virus cases and a vaccine roll-out supported sentiment and as focus turns to further stimulus possible in the upcoming Union Budget 2021-22.
  
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• Budget 2021: Why FM shouldn't bring in any new tax

  25-01-2021 09:58 via timesofindia.indiatimes.com
  
  Finance minister Nirmala Sitharaman faces a huge challenge this year. The Covid pandemic raged through 2020, roiling economies and ruining many lives. The government’s revenues are down but expenditure commitments are up (think of the free vaccines promised).
  
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• Indian billionaires’ wealth surged 35% during lockdown; 17 million women lost job in April 2020: Oxfam

  25-01-2021 09:12 via moneycontrol.com
  
  While the findings of Oxfam and other similar agencies are not considered by policymakers, they come at a time when Finance Minister Nirmala Sitharaman will surely keep the urban and rural poor in mind while presenting her 2021-22 Union Budget, exactly a week from today.
  
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