Tuesday, May 23, 2023

India to leverage 5G to lead tech revolution: US



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First dip in decade: FDI inflows fall 16% in FY23



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Export ban on wheat to continue in the current year

"We will not allow exports of wheat," said Subodh K Singh, additional secretary, department of food, adding that the country is not a primary wheat exporter and has exported wheat only when there's been a surplus. The Centre's procurement of wheat, crucial for keeping its wholesale rates under control, is much below the target of 34 million tonnes despite prices continuing to increase.

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Moody's sees mfg & infra driving India growth; flags reforms, policy barriers

"Despite the positive backdrop, bureaucracy could slow approval processes in obtaining licenses and setting up businesses, prolonging project gestation," Moody's said, indicating a possibility of losing out to Indonesia and Vietnam.

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StateStreet to make Hyderabad 2nd largest site after HQ Boston, to add 5,000 jobs



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Monday, May 22, 2023

Some money may now flow into gold, realty and high-value white goods

Elections to 5 states are scheduled for the end of 2023. There could be some adverse impact on small businesses, which hold high-denomination notes for managing daily transactions, according to Nomura's India Economist, Aurodeep Nandi.

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Odisha to provide free crop insurance to farmers for 3 years

"The Cooperation Department would bear the premium of the insurance from the 2023 Kharif season to the 2025-26 Rabi season. Odisha is the first state in the country to provide free crop insurance to farmers," Naveen Patnaik said.

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Threshold for TDS levy on net winning from online gaming at Rs 100: CBDT

The Central Board of Direct Taxes (CBDT) has notified Rule 133 of the I-T Rules defining the manner and procedure for deduction of the TDS. Net winnings of an online gamer would be calculated after subtracting the total deposits and opening balance in the user account from the amount withdrawn.

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Shaktikanta Das on fate of Rs 2000 notes: Will continue to be legal tender, procedural elements post-September 30 will be decided accordingly



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