Policy
How to treat extended producers' responsibility in insolvency?
Extended Producer Responsibility (EPR) makes the producers i.e., manufacturers, assembler, importer, or a seller of the goods, responsible for the entire life cycle of their goods.
RBI warns NBFCs a mode they use for giving loans may bring grief
Bank Loans: The Reserve Bank of India has issued a caution to non-bank finance companies, advising them against becoming overly reliant on algorithm-based credit models. RBI Deputy Governor Swaminathan J flagged the importance of maintaining a balanced approach in credit assessment, highlighting potential risks associated with over-reliance on historical data and algorithms.
'Can't answer sitting here': FM Sitharaman's to stock broker who says 'Govt is my sleeping partner'
FM Sitharaman found herself in a tricky situation when a broker made a couple of 'funny questions' about high GST & taxes imposed by the govt. The broker pointed out the significant tax burden on stock market operations and real estate transactions. He also labeling the government as a 'sleeping partner' that reaps benefits without sharing the operational burdens. Watch!
'Sleeping partner can't answer sitting...': FM Sitharaman stumps a stock broker when he raises multiple tax concerns
Union Finance Minister Nirmala Sitharaman gave a cryptic responses to concerns about high taxes on stock market brokers and real estate transactions, stating that the government benefits heavily from these taxes without sharing operational burdens. She urged the Bombay Stock Exchange to collaborate with SEBI to enhance investor confidence and warned retail investors of the risks associated with the derivatives market, stating that an unchecked explosion in riskier futures & options could potentially cause problems in household finances.
Govt looks to change base year for major economic gauges to FY23, revamp of key datasets also being planned
The base year provides a reference point for measuring changes in economic variables and comparing relative performances of indicators over time. For instance, real gross domestic product (GDP) growth is currently calculated with reference to FY12 prices.
As part of 100-day plan, Govt to launch app to target deceptive methods used by cos to trick consumers: Sources
Within the upcoming two months, the government is set to unveil a mobile application aimed at notifying consumers about deceptive techniques, commonly referred to as dark patterns, employed by online platforms. This initiative, disclosed by a senior official from the department of consumer affairs, forms a crucial component of the department's agenda within the initial 100 days following the formation of the forthcoming government.
RBI may delay rate cuts, strong bond demand keeps market rates low
The Reserve Bank of India may postpone anticipated policy interest rate cuts, but strong demand for bonds from long-term investors like retirement funds and insurers will keep market interest rates low, particularly for top-rated borrowers. Soumyajit Niyogi, Director at India Ratings, noted that while hopes for significant rate cuts may be diminishing, elevated rates in the banking system will be favored. However, institutional investors' robust demand will keep bond yields low, especially for high-rated issuances.
Tax incentives can help enhance adoption of sustainability manufacturing: Experts
Financial incentives like tax breaks and subsidies can boost the adoption of green manufacturing practices. Experts emphasize the need for sustainable supply chains and investments in energy-efficient technologies. Companies are increasingly focusing on sustainability, with Indian firms leveraging sustainable loans and investing in recycling.
1,366 tenders worth Rs 60,276 cr procurement violate Make-in-India norms
An analysis by DPIIT reveals 1,366 government tenders worth Rs 60,276 crore non-compliant with procurement norms; 369 tenders violated Make in India Order, 40 sought specific foreign certification. DPIIT recommends increasing local content requirements and identifies various violations in public procurement tenders, prompting corrective actions.
RBI Monetary Policy: India’s sticky inflation gives RBI reason to stay on hold
RBI MPC Meeting: India's steady inflation and the threat of rising food prices are likely to delay any interest rate cuts by the central bank. Consumer prices rose 4.83% in April, close to economists' expectations. The Reserve Bank of India has maintained its 6.5% benchmark interest rate for over a year, with no cuts expected until the final quarter of the year. Citigroup economists predict a shift to a neutral stance in August due to favorable inflation data. Food prices, a significant component of consumer prices, continue to rise, impacting the overall inflation rate. Erratic weather and the upcoming elections are additional factors complicating the central bank's decision-making process.
Must Watch
New functionality in AIS rolled out for taxpayers
CBDT introduces AIS feature for real-time taxpayer feedback on transactions, enhancing data accuracy, compliance, and taxpayer services, covering tax deductions and financial data sources.
FM Nirmala Sitaraman flags 'gigantic schemes of fiscal splurge' pledged by Congress
The Congress has promised to launch a Mahalakshmi Scheme to provide Rs 1 lakh per year to every poor Indian family as unconditional cash transfer, and write off student loans, if voted to power. It also wants to guarantee a national minimum wage of ₹400 per day, among a host of other populist pledges.
Govt plans to make anti-fake review rules mandatory for e-commerce firms
The government issued the new quality norms for e-tailers a year ago, prohibiting them from publishing paid reviews and demanding disclosure of such promotional content.
GST on corporate guarantees: Taxmen believe clarity will emerge only in SC
The issue of levying GST on corporate guarantees between related entities remains uncertain until the Supreme Court's final decision. The CBIC's circular clarifying the levy's validity faces legal challenges, with recent stays offering temporary relief to affected companies. The matter's resolution will impact businesses and tax revenues.
PM Gati Shakti to aid in expanding social security
To begin with, the ministry has geotagged 1.3 million establishments covered under the Employees' Provident Fund Organisation (EPFO), about 1.5 million under the Employees' State Insurance Corporation (ESIC) and 104 ESIC hospitals for assessing the current social security coverage and planning future expansion.
Esop non-disclosure triggers black money law
A number of resident individuals working in Indian subsidiaries and arms of offshore parents have recently received notices from the Income Tax (I-T) department which has pointed out amounts that either went undisclosed or untaxed or both.
