India likely to benefit from global minimum 15% corporate tax pact.
The Finance Ministers of G-7 countries, comprising US, UK, Germany, France, Canada, Italy and Japan, on Saturday reached a landmark deal on taxing multinational companies as per which the minimum global tax rate would be at least 15 per cent. The decision of the Group of seven (G-7) advanced economies would be placed before the G-20 countries, a group of developing and developed nations, in a meeting scheduled for July in Venice.
New IT e-filing Portal to be launched from June 7,2021 & payment service from June 18, 2021.
The Income Tax Department will launch a new e-filing portal on 7th June which will integrated to immediately process returns and issue refunds. The new tax payment system will be launched on 18th June 2021 after the AT instalment date to avoid any taxpayer inconvenience.
India may emerge second-fastest growing economy after China in Q4
India is likely to post 2% growth in Q4 GDP, which are set to be announced on May 31, according to Icra. However, the country stares at a much reduced 10-15% growth in the current quarter on la ow base against RBI's prediction of 26% due to the flare-up of the Covid crisis.
Rs 12,195 – crore PLI (Production linked incentive) scheme for telecom equipment
The Rs 12,195 crore PLI scheme for telecom equipment manufacturing is "a big positive" that will spur local production, generate employment, and position the country as a global hub for innovation, industry experts said on Wednesday.
India would be fastest growing Asian economy in 2021
India could well be the fastest-growing Asian economy in calendar year 2021 (CY21) if Nomura’s forecasts are to be believed. The foreign research and brokerage house expects the Indian economy – as measured by gross domestic product (GDP) – to grow at 9.9 per cent in 2021, eclipsing China (2021 GDP growth pegged at 9 per cent) and Singapore (at 7.5 per cent) during this period.
FDI equity inflows into India cross $500 billion milestone
The key sectors which attracted most FDI inflows include services segment, computer software and hardware, telecommunications, trading, construction development, automobile, chemicals, and pharmaceuticals.
Creative ways companies are embracing the circular economy
It’s an approach based on “designing out waste and pollution, keeping products and materials in use, and regenerating natural systems,” in the words of the Ellen MacArthur Foundation. The idea is gaining momentum and truly hitting the mainstream as a growing number of household-name brands adopt circular methods and develop products with circularity built in.