The Union Finance Ministry has decided to provide an additional amount of upto Rs 15,000 crore to states as interest-free 50-year loans for spending on capital projects. The Department of Expenditure has issued fresh guidelines in this regard on the “Scheme of Financial Assistance to States for Capital Expenditure” for the financial year 2021-22. Under this Scheme, … Read more
RBI governor Shaktikanta Das on Wednesday made an unscheduled announcement in the wake of the second bout of the COVID-19 outbreak, forcing states and local authorities to impose lockdown and restrictions to stop the spread of the virus. While the central government has refrained from imposing a nationwide lockdown, the economic costs of the second coronavirus outbreak … Read more
With its ever-growing rise in popularity, including a mention from billionaire Elon Musk on the hit American TV show Saturday Night Live, Dogecoin has exploded into the culture. The meme-based cryptocurrency started out in 2013 as a joke. However, it has since established itself as a popular cryptocurrency, soaring to an all-time high last week. As of … Read more
For the last several days, Islamist propaganda organisation PETA has been targeting Indian dairy giant Amul, asking them to switch to plant-based products from milk. Responding to their appeal, today GCMMF managing director R S Sodhi asked who will provide employment to 10 crore people who depend on the cooperative dairy sector, if the company … Read more
Ministry of Commerce & Industry has announced that India’s merchandise exports in May 2021 increased by 67.39% over May 2020. At $32.21 billion, the growth was driven by sectors such as engineering, pharmaceuticals, petroleum products and chemicals, as per the commerce ministry’s press release. On the other hand, imports in May rose by 68.54% to $38.53 billion … Read more
On Friday, the Karnataka High Court dismissed the plea filed by e-commerce companies Amazon and Flipkart, challenging the probe ordered by the Competition Commission of India (CCI) against them for violations of Competition Law. In a significant judgement on Friday, the Karnataka High Court quashed the writ petitions filed by Amazon.com Inc. and Walmart-owned Flipkart against an … Read more
Finance Minister Nirmala Sitharaman chaired the 44th GST Council Meeting through a video conference on Saturday, June 12. At the press conference after the meeting, Sitharaman announced that the GoM’s recommendation on slashing rates on certain COVID-19 essentials have been accepted. The new rates will remain in effect till at least September 30, she said. In its … Read more
On June 29, Kitex Group, the largest private-sector employer in Kerala, announced the withdrawal of an Rs.3,500 crore investment project from the state. Kitex Group alleged that the state authorities are running a witch-hunt against the company. Notably, Kitex Garments is the second-largest kids’ apparel manufacturer in the world. The company has announced that it is scrapping … Read more
On June 28, Nirmala Sitharaman, Finance Minister, announced relief packages for Covid-affected sectors. The packages include several sectors, including health, tourism, MSME, agriculture, tourism and others. Reviving tourism Nirmala Sitharaman announced a special package to revive tourism sectors. Under the scheme, financial support has been extended to more than 11,000 registered tourist guides, travel and … Read more
Kerala-based Kitex Garments Ltd. shares have gained nearly 25% in the last five days after the textile company decided to quit Communist-ruled Kerala over increasing harassment by the Pinarayi Vijayan-led government Earlier this month, the largest private-sector employer in Kerala – Kitex Group had announced their decision not to go forward with the Rs.3,500 crore investment project … Read more