Economy News ( English version)

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  • 'Nearly 6% growth in productivity needed for India, China to catch up with developed nations' April 24, 2024
    McKinsey Global Institute predicts that emerging market economies like India and China will achieve faster productivity growth and living standards if they maintain a 6% annual growth rate. These economies contributed nearly half of the productivity gains between 1997 and 2022, helping lift nearly a billion people out of poverty.
  • Non-linkage of PAN-Aadhaar: CBDT gives relief to tax deductors April 24, 2024
    The Central Board of Direct Taxes (CBDT) has clarified that tax deductors will not be treated as defaulters for failures in deduction of tax at a higher rate on transactions between July 1, 2023, and March 31, 2024, if the Permanent Account Number (PAN) becomes inoperative due to non-linkage with Aadhaar. This relief will be exempt from penalties, providing […]
  • Govt nudges 3 states to produce pulses, offers MSP with no bar April 24, 2024
    The Indian government is collaborating with farmers in Bihar, Jharkhand, and Uttar Pradesh to sow kharif pulses like tur, urad, and moong before sowing for the season starts. The aim is to increase pulse cultivation and reduce import dependence. The government has not set a production target yet. The National Co-operative Consumers' Federation of India […]
  • T Rabi Sankar re-appointed as RBI DG for one year April 24, 2024
    Sankar, a career central banker who joined the RBI in 1990, was initially appointed as Deputy Governor on May 3, 2021 for a three-year period.
  • Why an inheritance tax can be an eminently bad idea April 24, 2024
    Ever since inheritance tax was abolished in 1985, it keeps hitting the news from time to time. Many times it is speculated before the presentation of the Union budget if the finance minister would re-impose the inheritance tax. Many countries impose inheritance tax in different ways. Pitroda's comments have brought it back into the discussion again. […]

 

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