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Thursday, February 9, 2023
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Economy

Gross advanced tax collection falls by 31% in first quarter of fiscal year

PTI -
The advance corporate tax mop-up declined by 79% as well due to the three-month long lockdown imposed due to coronavirus.
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India needs policy ‘predictability’ to be an alternative to China: US-India trade body

Nayanima Basu -
Mukesh Aghi, president & CEO of US-India Strategic Partnership Forum, says India should make some things easier for companies, like Vietnam & Cambodia do.
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Fall in wholesale inflation gives room to RBI to further cut rates

Karthikeyan Sundaram -
WPI inflation data signals weak demand & allows RBI to further cut rates to support an economy headed for first annual contraction in more than four decades.
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Wholesale Price Index inflation falls by 3.21% in May, but food prices soar

PTI -
Inflation in food articles during May stood at 1.13 per cent, as against 2.55 per cent in April, according to a statement released by the commerce and industry ministry.
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Global economy is set for a V-shape recovery, Morgan Stanley economists say

Enda Curran -
Predicting a ‘sharp but short’ recession, Morgan Stanley economists said they expect global GDP growth will recover to 3% by the first quarter of 2021.
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Punjab paddy farmers say labour costs have doubled as local workers demand higher wages

Samyak Pandey -
Farmers in Punjab have to now rely on local workforce due to labour shortage after migrant workers’ exodus. Many have had to buy direct seeding machines.
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Mukesh Ambani adds TPG Capital to Jio backers with $600 million sale

P. R. Sanjai -
Jio Platforms, with equity value of about $65 billion, has sold over 22% in stakes to buyers including Facebook Inc., KKR & Co., Silver Lake Partners and General Atlantic.
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Petrol, diesel prices rise for 7th day in a row, rates go up by about half a rupee

PTI -
Petrol price in Delhi was hiked to Rs 75.16 per litre from Rs 74.57, while diesel rates were increased to Rs 73.39 a litre from Rs 72.81.
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IIP contracts by record 55% in April due to lockdown, but Modi govt says data not comparable

Remya Nair -
The data showed manufacturing contracted by 64 per cent in April, followed by mining at 27 per cent and electricity by 26 per cent.
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India could see millions pushed into extreme poverty due to pandemic: World Bank analysis

Remya Nair -
South Asia may see 42 mn people being pushed into extreme poverty, according to World Bank analysis, as the pandemic leads to longer shutdowns, increase in costs.
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On Camera

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Opinion

FILE PHOTO: Chinese and U.S. flags flutter near The Bund, before U.S. trade delegation meet their Chinese counterparts for talks in Shanghai, China July 30, 2019. REUTERS/Aly Song

US ‘shaking up’ Marine Corps shows its laser focus on China....

Manvendra Singh -
The iCET agreement goes the whole hog in joint cooperation between US and India. But there is a greater need to focus on how the defence budget is spent.
Rahul Gandhi speaking on Gautam Adani and Narendra Modi | ANI

TV knows what works. Get Rahul Gandhi to speak against Modi...

Army personnel during a parade | Representational image | Photo: Suraj Singh Bisht | ThePrint

Armed forces law too ambiguous about adultery. Military must keep up...

Economy

Representative Image | ANI

‘Need to see a decisive moderation in inflation’: RBI Governor on...

TCA Sharad Raghavan -
While overall inflation is moderating, high and persistent core inflation remains a worry, as does the uncertain global growth & inflation environment, the governor said.

Defence

File photo of the Chinese spy balloon which was later shot down by the US | Reuters

China has spy balloons, India has aerostats. But IAF’s had mixed...

Snehesh Alex Philip -
After Kargil Review Committee's recommendation, air force purchased 2 aerostats worth over Rs 300 crore for surveillance in 2007. IAF favours AWACS for vigilance operations.

National Interest

Illustration by Soham Sen | ThePrint

Market has won & now it’s for Adani to decide whether...

Shekhar Gupta -
If the political establishment responds to a situation like this as if it’s something that must only play out between a corporate & the market, it's coming of age of Indian capitalism.

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