NHAI raises ₹600 crore more than the reserve price for TOT-5, Adani and DP Jain Infra set to bag contracts

Adani and DP Jain Infra, who quoted the highest price in the 5A-1 and 5A-2 packages last month, are now set to bag the respective bids. NHAI at it’s board meeting on Thursday disclosed the reserve price for TOT-5. The authority received bids worths ₹2,252 crore, against a reserve price of ₹1,621 crore….

Read more

Govt buys paddy worth Rs 1.26 lakh crore at MSP so far this kharif marketing season

“In the ongoing Kharif Marketing Season (KMS) 2020-21, the government continues to procure Kharif 2020-21 crops at MSP (Minimum Support Price) from farmers as per existing MSP schemes, as was done in previous seasons,” an official statement said….

Read more

Govt promoting agri sector by reforming laws: Narendra Singh Tomar

Tomar also highlighted various steps taken by his government during the last six-and-half years to boost the agriculture sector and enhance farmers’ income, according to a release issued by his ministry. He said the government transferred Rs 1.15 lakh crore directly into the bank accounts of nearly 10.75 crore farmers under the flagship PM KISAN programme….

Read more

Non-basmati rice exports increase to Rs 26,058 crore during April-Jan

“During April -January 2020-21, the shipment of non-Basmati rice witnessed an impressive spike. The non-basmati rice exports were Rs 26,058 crore (USD 3,506 million) during April-January 2021 against Rs 11,543 crore (USD 1,627 million) reported during April-January 2020 period,” it said….

Read more

Ficci says Haryana job quota law will ‘spell disaster’ for industrial development in the state

“Investors and entrepreneurs need to source the best human resources available in the country to be competitive and successful. To force them in such a regressive straight-jacket will force them to look beyond Haryana and this will ultimately hurt the interests of the state,” Shankar said….

Read more

Indian merchants almost halt exports to Iran as its rupee reserves fall: Officials

India’s overall exports to Tehran fell 42% in 2020 from a year ago to $2.2 billion, the lowest in over a decade, said an official with India’s Ministry of Commerce and Industry….

Read more

Indian rice exporters in a fix as transport costs rise, demand from Gulf drops

The Gulfood 2021 held between February 21-25 in Dubai did not garner much business for Indian basmati exporters as people stayed away in fear of coronavirus. However, South American buyers such as Peru and Argentina have recently granted market access to the Indian basmati rice, which will help the basmati rice trade to boost exports and get better prices….

Read more

FDI inflows up 22% in April-Dec 2020

Total FDI inflows including equity inflows, re-invested earnings and other capital were $55.14 billion in the first nine months of FY20 while FDI equity inflows were $36.77 billion….

Read more

African, Caribbean nations support India at WTO on COVID vaccine supplies

During a discussion at the WTO (World Trade Organisation), a group of Latin American member states including Colombia, Costa Rica, Ecuador, Panama and Paraguay have also expressed their concerns on the export restrictions imposed by European Union on COVID-19 vaccines and their trade distorting impact….

Read more

India, Singapore must focus on fintech, industry 4.0 and smart cities to elevate their strategic partnership

Singapore is a global hub of fintech and India can learn its strengths from through active collaboration. Simultaneously in order to attract investments from Singapore to India a suggestion was put forward on the creation of a manual comprising do’s and don’ts for establishing businesses in various Indian states….

Read more

Bengaluru, Shimla ranked ‘most livable’ cities in govt’s Ease of Living Index 2020

Shimla is the most liveable city on the Ease of Living Index of cities with less than 1 million population. Shimla is followed by Bhubaneswar, Silvassa, Kakinada, Salem, Vellore, Gandhinagar, Gurugram, Davangere and Tiruchirapalli. …

Read more

Covid prompts women to take greater ownership of their money: Survey

Given the direct correlation between taking control of one’s finances and well-being, women are taking action by getting involved in financial decision-making. 67% make joint decisions with their spouse and 21% women say that they handle them independently. …

Read more

India’s unemployment rate recovers to pre-Covid level of 6.9% in February: CMIE

“However, recovery in the labour force participation rate and the employment rate remain significantly lower than their levels before the lockdown,” CMIE said…

Read more

Indian cotton prices increase 5% in a month; trade expects upward trend to continue

Traders, millers and brokers are upbeat that the rising trend in cotton prices will sustain in 2021-22 owing to projections of lower sowing in major cotton growing countries such as the United States, Brazil and India….

Read more

Labour codes face delay as states fail to frame rules

Absence of state rules may create a legal vacuum and defeat the entire purpose of labour reforms as three-fourths of the total establishments come under states’ ambit. …

Read more

NRIs, foreign nationals stranded in India to submit details of double taxation by March 31

In a circular, the CBDT said that if any individual is facing double taxation even after taking into account the relief provided by the relevant Double Taxation Avoidance Agreement (DTAA), he/she may furnish the specified information electronically by 31st March, 2021, to the Principal Chief Commissioner of Income-tax (International Taxation)….

Read more

I-T refunds over Rs 1.98 lakh cr issued in 11 months

Of this, personal income tax refunds of Rs 70,572 crore have been issued to over 1.92 crore taxpayers, and corporate tax refunds of Rs 1.27 lakh crore have been issued in 2.19 lakh cases….

Read more

Power to administer new digital media rules not with states, UTs: Centre

In an office memorandum on Monday, the Information and Broadcasting Ministry said that it had announced on February 25 the Information Technology (Intermediary guidelines and digital media ethics codes) Rules 2021 under the IT Act 2000….

Read more

Piyush Goyal proposes uniform rate card for testing facilities for industry, TUFS like scheme for MSMEs

The minister, who holds the charge of ministries of commerce, railways and consumer affairs, also asked the Department for Promotion of Industry and Internal Trade (DPIIT) to consider for the micro, small and medium enterprises a Technology Upgradation Fund Scheme (TUFS) kind of scheme that textiles sector has, to help MSMEs upgrade their quality….

Read more

ET Analysis: Women emancipation as an investment theme

From being the traditional consumers of fast moving consumer goods, apparel and jewellery, women in India are now experimenting with the new categories of discretionary consumption….

Read more

India’s cotton exports likely to rise 50% this year to 75 lakh bales this year

The exports can see a further boost if Pakistan opens its market for Indian cotton, said Mahesh Sharda, president of Indian Cotton Association. Trade between the two countries has been suspended since 2019….

Read more

Need of the hour is to reduce logistics cost: Piyush Goyal

He also said the investments in the Sagarmala project will boost the country’s maritime infrastructure, expand freight corridors, make freight more cost-effective and bring down the current logistics cost, which is estimated to be about 13-14 per cent….

Read more

Exim Bank inks $10.40 million soft loan pact with Eswatini

Exim Bank, on behalf of the Indian government, has extended a Line of Credit (LoC) of USD 10.40 million to the government of the Kingdom of Eswatini (Swaziland) for the construction of disaster recovery site, the bank said in a release….

Read more