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Covid-19 causing disruptions but compliance a 'critical pathway'

By front-loading PM-Kisan, the Centre has transferred Rs 13,855 crore as the first instalment of Rs 2,000 to each of the 6.93 crore farmers as on Friday, the finance ministry tweeted.

The pile-up of harvested or un-harvested perishables may have caused farmers a loss of around Rs 15,000 crore. Market arrivals of fruits and vegetables have sharply fallen since the imposition of the lockdown.

In its status report submitted earlier, the Centre had said that all the steps were being taken for the welfare and benefit of migrant workers.

Further, the Board said that it was processing an additional 1.75 lakh refund claims, which would be credited directly to the taxpayer bank account in 5-7 business days from issuance.

At the same time, long term FPI investment limits in G-secs have been brought down to Rs 1.03 lakh crore from the prevailing limit of Rs 1.15 lakh crore  a reduction of almost $1.5 billion.

The agricultural output in the economy grew by 3.5% in the third quarter (Q3) of FY20, against 3.1% in Q2 of FY20.

The measure has been taken by the RBI to meet sectoral credit needs at a time when the institutions are facing difficulty in tapping the market.

A banking analyst told FE: “As of now, the directive is about retaining profits, but if it is extended beyond September, there could be a stock impact.”

With the increased WMA limit, state governments are expected to plan their market borrowings in a better way rather than bunch up their borrowings, leading to oversupply issues.

She also encouraged the NDB to take appropriate steps to join the G-20 forum, along with the multilateral development banks and international financial institutions.

Now that the GOI has fixed the base price of sugar and most of the mills have set up distilleries too, to augment their business, the scenario has changed.

The ministry of home affairs (MHA) had on April 19 issued a detailed standard operating procedure while allowing suitable deployment of their skills. As per Census, 2001, the total number of internal migrants in India was 309.385 million.

After the Reserve Bank of India (RBI) cut its policy repo rate by 75 basis points (bps) on March 27, a number of banks and non-banking finance companies (NBFCs) followed by cutting their lending rates.

The task force under economic affairs secretary Atanu Chakraborty submitted its final report on the “national infrastructure pipeline” (NIP) to finance minister Nirmala Sitharaman.

Crisil expects GNPAs for the financial year 2020 to remain at 9.5%. Considering the Covid-19 impact, Crisil has projected GNPAs in the range of 11-11.5% for the financial year 2021.

The prime minister is said to have suggested exploring possibility of creating commodity specific Board or Council so that cluster/contract farming takes place as that will help increase agricultural exports from the country.

Delhi’s Azadpur mandi, the country’s largest market yard for these items, saw arrivals of onion, tomato and potato drop by 14-31% during April 16-30 from the previous fortnight.

The National Financial Reporting Authority (NFRA) has floated draft procedures for submission of audit logs to the regulator by audit companies and chartered accountants (CAs).

The Delhi High Court on Tuesday allowed taxpayers registered under Goods and Services Tax (GST) to claim accumulated CENVAT credit from pre-GST regime till June 30, 2020, and noted that the benefit of transitional credit will be applicable for three years (since launch of GST on July 1, 2017) which is the period mentioned in the limitation Act.

Nobel laureate Abhijit Banerjee has recommended that India offer cash to the poorest 60% of its population and waive off loan repayments for small businesses in the June quarter, as he pitches for a large enough fiscal package to stimulate demand in the economy ravaged by the novel coronavirus crisis.

Grappling with low revenues following the outbreak of Covid-19 and the subsequent lockdown, the UP government hiked the value added tax (VAT) on petrol and diesel and increased the excise duty on liquor.

"It is the time to review the policy of cross subsidisation of power as this plays a part in making our industries non-competitive,” former finance secretary Subhash Chandra Garg said at an online panel discussion on the power sector.

As the lockdown in China was lifted from the beginning of April 2020 onwards, spinners there have been scaling up operations.

In an office memorandum dated April 30, reviewed by FE, the revenue department has said it has approved the release of the RoSL benefits, which will, however, be in the form of scrips, instead of cash.

Through key exhibitions and texts, Celant was an influential proponent of the work of young Italian artists in Turin, Milan, Genoa and Rome, working with natural materials and elements such as dirt, sticks or rags who were seeking to challenge the commercial art scene at the time

The New Yorker took the feature reporting prize for Ben Taub’s piece on a detainee at the U.S. military base at Guantanamo Bay, Cuba, with judges saying the story offered 'a nuanced perspective on America’s wider war on terror.'

'Organised crime has many faces. The trafficking of cultural goods is one of them. It is not a glamorous business run by flamboyant gentlemen forgers, but by international criminal networks'

The new Diavel 1260 is powered by the 1262cc Ducati Testastretta DVT engine with variable cam timing, which has been upgraded to optimise performance and is equipped with the chain-type final transmission.

While EVs are cost-competitive in the long run, by 2025 they are also expected to be cost-effective in terms of upfront cost, vis-a-vis petrol/diesel vehicles.

Great marketing doesn't have to mean breaking the bank

In its biggest platform announcement in five years, Pega replaces its CRM suite with Pega Infinity, an end-to-end automated marketing, sales, and service solution

Owing to the strict interpretations of rules which govern the H-1B work visa program Indian IT companies, as well as their customers, face a shortage of mid-level talent in the US.A major problemThere was a problem of talent at the entry-level in the…

The US has a plan of increasing the application fee for the H-1B visa as a way of increasing the availability of funds for the Apprentice Program.The DetailsThis was stated by Alexander Acosta, the Labor Secretary. He was testifying in front of the Congressional…

US lawmakers are casting their vote regarding lifting the country-cap of seven percent for issuing the Green Card. This is a move that will immensely benefit top skilled Indian IT professionals who are languishing in the queue for several years. The…

US lawmakers and experts have shown their anxiety over the US immigration agency's growing demand for "irrelevant" or earlier furnished information to decide an H-1B application, causing a delay in work visa processing, popular among the high skilled …

The US Office of Management and Budget has announced the new rules on July 25th, concerning the EB-5 program (Immigrant Investor Program Modernization), which is frequently used by the Indian American community. These will take effective from November…

UP govt tables Rs 4,211 crore second supplementary Budget for FY20

Worried microfinance industry feels that if the “irregularity and delay” in loan repayments get longer, then there would be a major problem for every player — small, medium and large.