Nearly all the MSMEs revenues in the country this fiscal would be surpassing the revenues they achieved in the pre-covid level, but their operating profits may be well below the 2019 levels as they are not able to pass on the commodity price increases, said rating firm Crisil. Almost all the MSMEs are expected to … Read more
Pension Fund Regulatory & Development Authority has appointed Suraj Bhan as the chairman of the National Pension System Trust (NPS Trust), responsible for managing funds under the National Pension System (NPS). Consequent upon the tenure of the present chairman of the trust coming to an end on November 11, 2022, the authority has designated Suraj … Read more
Over 6.85 crore income tax returns have been filed so far for fiscal 2021-22 and the number is expected to go up further by December 31, a senior official said. The last date for filing income tax returns (ITRs) for 2021-22 fiscal for individuals was July 31, while for corporates and others who need to … Read more
All GST anti-profiteering complaints would be dealt with by the Competition Commission of India (CCI) from December 1 as the extended tenure of National Anti-profiteering Authority ends this month, an official said on Tuesday. A notification in this regard is expected to be issued by the finance ministry later this month, the official added. The … Read more
State Bank of India, ICICI Bank, IDFC First Bank and HDFC Bank are among a shortlist of at least five lenders that the Reserve Bank of India (RBI) has roped in to work on the retail pilot project of the central bank digital currency (CBDC), people familiar with the matter told ET. The Reserve Bank … Read more
Finance minister Nirmala Sitharaman on Monday took stock of the progress made by ministries and departments on the National Monetisation Pipeline. The minister nudged ministries to push ahead with asset monetisation in line with their set targets. While some ministries may miss their monetisation goals, the government will “more or less” meet this year’s target, … Read more
India’s wholesale price inflation (WPI) in October fell to a 20-month low 8.39 per cent year-on-year, since March 2021. It was also less compared to 10.70 per cent in September, mainly due to a slide in commodity prices. This was also the first time that the WPI fell below a double-digit mark in 18 months. … Read more
The government is expecting a ₹3-3.5 lakh crore jump in tax revenue in the current fiscal year as per revised estimates of accounts for FY23 that will be presented in the February budget, officials said. Improved compliance, the post-pandemic economic recovery and high inflation have bolstered collections with both direct and indirect taxes contributing to … Read more
Deposit Insurance and Credit Guarantee Corporation settled claims amounting to Rs 8,516.6 crore during 2021-22 of about 12.94 lakh depositors of liquidated banks, merged entities and those placed under restrictions by the Reserve Bank. All commercial banks, including branches of foreign banks functioning in India, local area banks, regional rural banks, small finance banks and … Read more
UAE believes in India’s growth story and its sovereign wealth funds have invested more than USD 10 billion in India, said Sunjay Sudhir, Ambassador of India to UAE. Addressing realtors’ apex body CREDAI’s annual conference ‘NATCON 2022’ here, Sudhir asked builders to learn from the experience of UAE real estate companies and also explore forming … Read more