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India is going to announce a ‘substantial financial assistance package’ for the Maldives in order to help it to recover from the coronavirus-led economic crisis besides restricting any Chinese initiative to extend influence over the Indian Ocean island country. The package is in works based on the requirements of the Maldives whose economy is adversely […]
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Posted inBusiness
IRDAI rules amended to permit intermediaries to operate in SEZs
The Finance Ministry has amended the Insurance Regulatory and Development Authority (IRDAI) rules to permit intermediaries to operate in all special economic zones (SEZs). This is to ensure greater flexibility to insurance intermediaries to operate in the country. The main objective of the Indian government is to attract global business at a time when many […]
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Posted inNational
Centre widens scope of MSME credit guarantee scheme
The government has widened the scope of the Rs.3 lakh crore MSME credit guarantee scheme by doubling the upper ceiling of loans outstanding to Rs.50 crore and including certain individual loans given to professionals like doctors, lawyers and chartered accountants for business purposes under its ambit. This was done according to the new MSME definition […]
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Posted inNational
India considering additional trade barriers to counter China
India is considering measures to prevent trade partners, especially in Southeast Asia, from re-routing Chinese goods to India with little added value. It is also planning to raise quality standards of imports, impose quality restrictions, mandate stringent disclosure norms and initiate more frequent checks at ports of entry for goods coming from many Asian countries.
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Posted inBusiness, National
India’s fiscal deficit reaches record high in April-June quarter
India’s fiscal deficit has touched a record high in the April-June quarter as it reached $88.5 billion. This is 83.2% of the target for the whole of the current fiscal year. This reflects the adverse impact of the pandemic on the tax collection and government’s increased spending to address the crisis. The deficit is estimated […]