BUSINESS

Union Cabinet chaired by Prime Minister Narendra Modi today approved approved a scheme for interest subvention of 2% for a period of 12 months, to all Shishu loan accounts under Pradhan Mantri Mudra Yojana (PMMY) to eligible borrowers. The scheme will be extended to loans which meet the following criteria …

In the recent months, the government and RBI have come out with a bunch of relief measures for individuals and businesses to alleviate the financial and economic effects due to the spread of Covid-19. The relief measures include payments and time period extensions, relaxations and reduction in tax compliances amongst …

The interventions by Government for MSMEs, have been gaining rapid traction. Under the Emergency Credit Line backed by a Government guarantee, Banks from Public & Private Sectors have so far already sanctioned loans worth over Rs. 79,000 crore as of June 20, 2020, of which more than Rs 35,000 crore …

Government e-Marketplace (GeM), a Special Purpose Vehicle under the Ministry of Commerce and Industry, has made it mandatory for sellers to enter the Country of Origin while registering all new products on GeM. Further, sellers, who had already uploaded their products before the introduction of this new feature on GeM, …

The Government of India and the Asian Infrastructure Investment Bank (AIIB) here today signed a $750 million “COVID-19 Active Response and Expenditure Support Programme” to assist India to strengthen its response to the adverse impacts of the COVID-19 pandemic on poor and vulnerable households. This is the first ever budgetary …

M. Ajit Kumar, Chairman, Central Board of Indirect Taxes and Customs (CBIC) launched the e-Office application in over 500 CGST and Customs offices across India here today. The e-Office application was launched remotely in the presence of over 800 senior officers of CBIC. Dr Neeta Verma, DG, National Informatics Centre, …

India today joined the league of leading economies including USA, UK, EU, Australia, Canada, France, Germany, Italy, Japan, Mexico, New Zealand, Republic of Korea, Singapore to launch the Global Partnership on Artificial Intelligence (GPAI or Gee-Pay). GPAI is an international and multi-stakeholder initiative to guide the responsible development and use …

In a significant move towards taxpayer facilitation, the Government has today onwards allowed filing of NIL GST monthly return in FORM GSTR-3B through SMS. This would substantially improve ease of GST compliance for over 22 lakh registered taxpayers who had to otherwise log into their account on the common portal …

Union Minister for Finance and Corporate Affairs Nirmala Sitharaman today said that the COVID Emergency Credit Facility covers all companies and not just MSMEs. Addressing the FICCI National Executive Committee members, Sitharaman assured the industry of all possible Government support with the intent of supporting Indian business and reviving the …

There are reports in a certain section of media that the growth of direct taxes collection for the FY 2019-20 has fallen drastically and buoyancy of the direct tax collection as compared to the GDP growth has reached negative. These reports do not portray the correct picture regarding the growth …