New social media rules may raise compliance cost, make competition tough for smaller cos: Ind execs
New Delhi: The new social media intermediary rules could raise compliance costs for players, making it difficult for smaller companies to compete against bigger giants like Facebook, according to industry watchers. The new rules, announced last week, distinguish between ‘social media intermediaries’ and ‘significant social media intermediaries’ with 50 lakh registered users as the threshold […]
Bringing petroleum products under GST will be good move: Chief economic advisor
Kolkata: Chief Economic Advisor K V Subramanian has backed a proposal to bring petroleum products under the ambit of the Goods and Services Tax (GST). He, however, said the decision will have to be taken by the GST council. “It will be a good move, but the decision rests with the GST Council,” Subramanian said […]
Survey finds insurance as most preferred financial product to protect family post-COVID
New Delhi: Insurance has become the most-preferred financial product to protect the family against health emergencies post the COVID-19 pandemic with more people inclined to invest in insurance products in the next six months, according to a survey from Tata AIA Life Insurance. According to a consumer confidence survey on the impact of COVID-19 commissioned […]
Govt sets 50 lakh users threshold to define ‘significant social media intermediary’ under IT rules
New Delhi: The government has fixed fifty lakh registered users as the threshold for defining ‘significant social media intermediary’, which will have to adhere to additional obligations and compliance under the new IT rules that seek to crack down on misuse of social media platforms. The new rules, announced earlier this week, require ‘significant social […]
PM Modi asks toy manufacturers to use less plastic, more eco-friendly material
New Delhi: Prime Minister Narendra Modi on Saturday exhorted toy manufacturers to use less plastic and more eco-friendly and recyclable material in a bid to increase the share of the domestic industry in the global market. Inaugurating the first India Toy Fair, the Prime Minister said, “We have to become Aatmanirbhar in the toy sector […]
Govt finalises products under scheme to increase farmer income, exports
New Delhi: The government on Saturday said it has finalised a list of products from agriculture and allied sectors that will be promoted in a cluster approach in 728 districts across the country as part of its effort to boost farm exports and enhance farmers income. The agriculture ministry, in consultation with food processing industries […]
Current inflation target band appropriate for next 5 years: RBI report
Mumbai: With the next review of the flexible inflation target (FIT) framework coming up soon, the Reserve Bank of India (RBI) on Friday said the current inflation target of 4 per cent with a +/-2 per cent tolerance band is appropriate for the next five years. The country adopted the FIT framework in 2016, and […]
PM asks banks to come out with innovative products for startups, fintech
New Delhi: Prime Minister Narendra Modi on Friday stressed on increasing credit to businesses to meet the needs of a fast reflating economy and said financial products will have to be tailor-made for fintech and startups. He said that although the government’s endeavour is to promote the private sector, the public sector still needs to […]
Many market associations support ‘Bharat Vyapar bandh’ but keep shops open
New Delhi: Various markets in the national capital remained open on Friday during the ‘Bharat Vyapar Bandh’ called by traders’ union with many saying that despite supporting the cause, they did not want to suffer another day of losses. The Confederation of All India Traders (CAIT) on Thursday had said all commercial markets across the […]
Need coordinated action between centre, states on tax reduction in fuel prices: RBI Guv
Mumbai: Reserve Bank of India (RBI) Governor Shaktikanta Das on Thursday said there is a need for coordinated action between the centre and state governments to reduce taxes on petrol and diesel prices. “There is a need for coordinated action between the centre and the states because there are inherent taxes levied by both,” the […]
