About Us 31 July 2019

High Impact Economic News

 India's path to becoming $5-trillion economy passes through UP
The path to achieve the country's target of being a USD 5-trillion economy passes through Uttar Pradesh, Union Home Minister Amit Shah said, expressing confidence that the state will contribute to it by becoming.

 12.66 lakh new jobs created in May
Around 12.66 lakh jobs were created in May, a tad higher than 11.15 lakh jobs in April this year, the Employees’ State Insurance Corporation payroll data showed. Gross enrolments of new subscribers with the ESIC were 1.49 crore during 2018-19.

 India 52nd most innovative nation globally, says Global Innovation Index; up from 57 last year
The 12th edition of the Global Innovation Index (GII) — an annual ranking of countries in terms of their capacity for innovation and success in it has ranked India as the 52nd most innovative country.

 India’s crude steel output grows this much in June
India’s crude steel output rose by 4 per cent to 9.336 million tonne (MT) in June 2019 compared to the year-ago month, according to the World Steel Association. The country had produced 8.976 MT of crude steel in June 2018, the global steel body said in its report.

 GST Council trims rate on EVs to 5% in bid to boost electric mobility
The Goods and Services Tax (GST) Council on Saturday decided to slash tax rates on electric vehicles (EVs) and chargers in a bid to encourage the adoption of eco-friendly mobility solutions.

 India ready to study EU plea for waiver from re-testing of stainless steel imports
India has said that it is ready to look into a request made by the EU for exemption of ‘low-risk’ stainless steel product imports from compulsory re-testing requirement in BIS-authorised laboratories.

 Commerce ministry proposes a new export incentives scheme
The commerce and industry ministry has floated a cabinet note for a new export incentives scheme that would be compliant with the World Trade Organization (WTO) norms.

 Cabinet okays Aadhaar Amendment Bill for biometric use in state schemes
The Cabinet on Wednesday approved changes to Aadhaar and Other Laws (Amendment) Bill 2019 that incorporates a clause to allow use of Aadhaar data for state schemes and subsidies.

 Deadline for Income Tax Return filing extended to August 31
The Finance Ministry has extended the deadline for filing of Income Tax Returns to August 31. Initially, the last date was July 31. The July 31 deadline was set for most individuals and HUFs.

 PM may launch farm pension scheme next month, enrolment to start from Aug 1
Enrolment for the much-talked-about pension scheme for farmers, called the Pradhan Mantri Kisan Mandhan Yojana, will begin from August 1 to enable a soft launch by Prime Minister Narendra Modi.

July 31, 2019