BUSINESS
Payment of 1% GST in cash only for entities having an annual turnover of Rs 6cr
Based on the recommendations of the GST Law Committee, the government has notified new indirect tax rules that make a cash payment of 1 per cent of GST tax liability mandatory for businesses whose taxable supply value exceeds Rs 50 lakh in a month. This change will come into effect from January 1, 2021.
Employees seek extension of benefits in case of Air India privatisation
In a letter to Puri, the AIEU said that the existing medical scheme in Air India should be continued as it is for the serving and retired employees. On provident fund, the union said that there are two separate Provident Fund trusts in erstwhile Air India and erstwhile Indian Airlines which are governed by the 1925 PF Trust Act.
'Zero Effect, Zero Defect': PM Modi's clarion call to manufacturers in his last 'Mann Ki Baat' of 2020
Speaking in his monthly radio programme 'Mann Ki Baat', the Prime Minister said "the people of India have taken many steps forward and are getting vocal for local. Our manufacturers are also thinking about making top quality products. This will boost the efforts towards Aatmanirbhar Bharat".
Fuel prices unchanged across metros on Sunday
In the national capital, petrol was sold for Rs 83.71 per litre. Similarly, in the other key cities of Mumbai, Chennai and Kolkata, the fuel was priced at unchanged levels of Rs 90.34, Rs 86.51 and Rs 85.19 respectively. The prices have been the same since they were last revised on December 7.
Stocks attract over $22bn as India finds place among best performing Emerging Markets
All in all, not only did the overall capitalisation of India's domestic market increased, the country's key indices emerged among the best performing emerging markets (EMs). Besides foreign funds, the domestic lockdown, the biggest in the world, flooded the stock markets with over 60 lakh new retail investors.
Neutral-to-positive impact of RBI's draft circular on govt-owned NBFCs: Report
According to an Ind-Ra report, the new move will help government-owned NBFCs to strengthen their balance sheets by improving their leverage ratios and creating a buffer and surplus for fresh lending.
Government offers discount to subscribers of gold bond scheme using digital mode
Accordingly, the Centre in consultation with the Reserve Bank of India will allow a discount of Rs 50 per gram from the issue price to investors using the digital medium for a subscription.
Mandatory switch to PNG for Delhi industries credit positive for CGDs: ICRA
Accordingly, the Ministry of Environment, Forests and Climate Change on December 22, identified about 1,644 industrial units spread across 50 industrial areas in Delhi to switch over to PNG owing to the high levels of pollution.
Rupee to end 2020 on a bullish note
However, rupee has been a laggard in 2020, as the currency did not appreciate much despite record inflows. On the other hand, India's forex reserves continued to rise, indicating, an active Reserve Bank which has kept rupee in a check, to make exports competitive.
Indian economy to become 5th largest in 2025, 3rd largest by 2030: CEBR
The CEBR forecast stated that the Indian economy will expand by 9 percent in 2021 and by 7 percent in 2022.
"Growth will naturally slow as India becomes more economically developed, with the annual GDP growth expected to sink to 5.8 percent in 2035."
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