Consumer sentiment recovers after second wave setback

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Economy Newsletter Fri, Mar 25, 2022 | 03:11 PM IST

ESIC scheme adds 12.84 lakh new members in January The NSO report showed that gross enrolments of new subscribers with ESIC were 1.15 crore in 2020-21, compared to 1.51 crore in 2019-20 and 1.49 crore in 2018-19. From September 2017 to March 2018, around 83.35 lakh new subscribers joined the ESIC scheme.

Formal job creation up in January; EPFO sees 1.52 million new subscriber addition The payroll data by the ministry of statistics and programme implementation, released on Friday, shows net new subscriber addition under the EPFO stood at 1.52 million in January 2022, 20.6% more than 1.26 million added in December 2021.

Consumer sentiment recovers sharply after setback suffered in second wave: CMIE According to CMIE, between June 2021 and February 2022, the index of consumer sentiments (ICS) scaled up by a substantial 31.9% while in the first three weeks that ended in March, the index scaled up by another 8.2%.

Payments received in cryptocurrencies set to face GST complications Many individuals have claimed that they got paid in cryptocurrency after they did some work such as graphic designing or advisory for clients based in the US or Singapore. The question is whether this is supply of services or an export, and what is the GST applicable on it.

Coronavirus Updates India reports 1,685 new COVID-19 cases, 83 fatalities India's COVID-19 infection tally had crossed the 20-lakh mark on August 7, 2020, 30 lakh on August 23, 40 lakh on September 5, 50 lakh on September 16, 60 lakh on September 28, 70 lakh on October 11, 80 lakh on October 29, 90 lakh on November 20 and the one-crore mark on December 19, 2020. What is the new COVID-19 'stealth' variant BA.2. Will it cause another Covid wave? What is the new COVID-19 variant BA.2, and will it cause another wave of infections in the US? COVID-19 deaths: SC allows Centre to conduct inquiry into fake claims Singapore to lift virus travel curbs in 'milestone'

Explained in charts: How India achieved $400 billion exports target This is the first time ever that exports have crossed the $400 billion-mark. The previous best was $331.02 billion that was achieved in 2018-19.India added around $25.19 billion worth exports in the month of March so far and may finish at about $410 billion by the end of this fiscal.

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India mulls exempting some projects from solar import taxes The levies, effective from April 1, could jeopardize solar projects with a combined capacity of 28 gigawatts, according to the National Solar Energy Federation of India. The industry group has asked the government to shield projects awarded before March 9 last year, when the plan was officially announced, from the higher costs to keep them viable.

India achieves $400 billion goods exports target for first time "India set an ambitious target of $400 billion of goods exports & achieves this target for the first time ever. I congratulate our farmers, weavers, MSMEs, manufacturers, exporters for this success. This is a key milestone in our Aatmanirbhar Bharat journey. #LocalGoesGlobal," Modi tweeted.

NBFCs seek extension of subsidy under PM Housing for two years ICAI working on research paper on cryptocurrencies

All Covid-related liquidity measures came with a sunset date, says RBI Governor Das The Reserve Bank of India (RBI) Governor on Monday said that all Covid-19-related liquidity measures announced by the central bank, except the interest rates, came with a sunset date. The governor talked about the condition of the Indian economy, if the Russia-Ukraine war will affect it and how the RBI intends to tackle issues going ahead.

SC-appointed panel was against repealing three farm laws A Supreme Court-appointed panel to study the three farm laws, which was scrapped by Parliament in November last year, had recommended that the three legislations should not be repealed saying they would be beneficial for farmers. The three-member committee had also suggested many changes in the laws, including giving freedom to states to make Minimum Support Price (MSP) system legal.

States panel may propose a single 15% GST levy by merging 12% and 18% slabs The group of ministers (GoM) is likely to meet this week to take a final call on rates and firm up its recommendations, people familiar with deliberations said. The GST Council is expected to meet early next month to consider the recommendations and the revenue status of the states.

Govt working on classification of cryptocurrency under GST law GST officers are of the view that cryptos, by nature, are similar to lottery, casinos, betting, gambling, horse racing, which have 28 per cent of GST on the entire value. Besides, GST at 3 per cent is levied on the entire transaction value in case of gold.

Stamp duty, registration fee mop-up crosses Rs 1 lakh cr in 8 months of FY22: Report An analysis of state-wise data by Motilal Oswal Financial Services showed that the average monthly collection by 28 states stood at Rs 12,500 crore during the reporting period of April-November 2021, which is slightly lower than Rs 12,800 crore in the pre-pandemic days. But, the monthly average is higher than Rs 10,600 crore recorded in FY21.

Soaring prices for everything used to make food brings more inflation Russia's invasion of Ukraine has taken things to another level, sending markets soaring for fertilizers and for the fuels needed to run farm machinery. Inflation is so rampant that even with rising food prices, farmers are facing increasingly tough margins.

India's February oil imports surge as refiners boost runs India's crude imports rose in February to 4.86 million barrels per day (bpd), their highest since December 2020, preliminary data from trade sources showed, as refiners cranked up runs to meet increasing demand on better refining margins.

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