Page 25 - Economy

CBIC directs GST officers to not summon senior execs in first instance

Also instructs them to not arrest a person if he has a different interpretation of law

1% of India's adult population likely to be millionaires by 2030: Report

According to HSBC Holdings Plc. report in Bloomberg, Singapore will take over Australia and have Asia's highest share of millionaires in the adult population by 2030

Crypto scam revenue slips 65% amid economic downturn

As the global downturn continues, the crypto scam revenue for 2022 also dropped 65 per cent at $1.6 billion this year, lower than where it was through the end of July in 2021.

Goldman Sachs, Nomura downgrade China GDP forecasts as outlook darkens

Goldman Sachs lowered its projection for China's gross domestic product growth to 3% from 3.3%, citing weaker-than-expected July economic data as well as near-term energy constraints

Will Centre extend free foodgrains scheme beyond Sept or let it fade away?

Drawdown in wheat stocks, fear of fall in rice production raise doubts on scheme's sustenance beyond Sept 30 deadline

Volatile cotton prices, weak domestic demand hurt Gujarat's denim industry

Most MSMEs running at 60 per cent capacity as high input prices have also made exports costlier

WPI inflation eases to 5-month low of 13.93% in July; food prices soften

India's wholesale price inflation in July eased to lowest in five months at 13.93 per cent against 15.18 per cent in June

Complaints over flight cancellations, denial of boarding dip in FY22

DGCA data shows that airlines had to shell out Rs 3 crore to settle claims arising from such complaints

Direct tax collection grows 40% driven by personal income tax from Apr-Jul

Personal income tax collection posted a growth of 52% YoY at Rs 2.67 trillion, while corporation tax collection stood at Rs 45,000 crore

Secret to enduring stagflation sends investors to emerging markets

Stocks and bonds of poorer nations have sunk this year amid Federal Reserve tightening and runaway consumer prices, and may sell off even more if the global economy stalls

As UK heads for recession, here's who could control finances in new govt

With the Bank of England predicting inflation topping 13% in the fall and a recession lasting through 2023, the next incumbent of 11 Downing Street will be under immediate pressure

India at 75: Prudent public finance policy still remains a challenge

Among other things, making the direct tax regime less confusing and bringing in expenditure reform are crucial challenges for the central government

Apollo Hospitals acquires asset from Nayati Healthcare for Rs 450 crore

The hospital asset was sold by DLF Qutub Enclave Complex Medical Charitable Trust in 2011 to Nayati Healthcare and Research NCR Pvt Ltd

The case for rate hikes heading for contested territory as recession looms

A parade of Federal Reserve officials in recent days has sought to emphasize this message - though a slump isn't their forecast

Rupee weakens 1% in two days as renewed talks of 'hawkish' Fed boost dollar

Record high trade deficit, technical factors add to woes

UK already in recession as cost of living crisis hits household incomes

The UK economy is already in recession as the cost of living crisis has devastating consequences for household incomes, a leading think tank has concluded

Meta-owned Facebook algorithms are losing ground to Europe's madmen

The economy is weakening, and so is demand for advertising - at least, that's how Facebook parent Meta Platforms Inc. justified its first-ever quarterly decline in revenue last week

Bangladesh economy outshone India, now it must learn from its neighbour

Bangladesh's per capita national income is now higher than that of India next door

GST collection jumps 28% YoY in July to second highest ever at Rs 1.49 trn

Collection remains above Rs 1.4 trn for fifth straight month

Falling commodity prices may soften inflation, but it may remain elevated

Parliament likely to discuss the matter today; MPC to consider matter at 3-day meet that begins on Wednesday