Maldivian blogger Yameen Rasheed's murder: Two sentenced to life imprisonment, 4 acquitted

Saturday January 22, 2022

A criminal court has convicted two persons in connection with the murder of Maldives blogger Yameen

Finance Minister to release Rs 47,541 crore advance instalment of tax devolution to States

Saturday January 22, 2022

Union Minister for Finance & Corporate Affairs Nirmala Sitharaman has authorised the release

Finance Minister to release Rs 47,541 crore advance instalment of tax devolution to States

Union Minister for Finance & Corporate Affairs Nirmala Sitharaman has authorised the release of an advance installment of tax devolution to State Governments amounting to Rs. 47,541 crore . This is in addition to the regular devolution for the month of January 2022. Thus, States would receive a total of Rs. 95,082 crore or double their respective entitlement during the month of January 2022.

It is important to note that the Government has released the first installement of tax devolution amounting to Rs 47,541 crore to States on 22nd November 2021. With this, the states would have received an additional amount of Rs 90,082 crore under tax devolution over and above what has been budgeted.

It also needs to be noted that release from Government of India of the back-to-back loan amounting to Rs. 1.59 lakh crore to State Governments in lieu of GST Compensation shortfall in FY 2021-22 was completed by the end of October 2021. This is further in line with the commitment of Government of India to strengthen the hands of States to accelerate their capital and developmental expenditure to lighten the detrimental effects of Covid-19 pandemic.

Two instalments had been released earlier -₹40,000 crore on October 7 and ₹75,000 crore on July 15. After GST collections fell sharply due to the devastating impact of the Covid-19 pandemic that prompted a 68-day nationwide lockdown from March 25 last year, the Union government in 2020 devised a back-to-back borrowing mechanism to make up for the states’ revenue losses.

This borrowing mechanism was facilitated through RBI whereby the money is collectively borrowed on behalf of states with an assurance that both the principal and the interest would be repaid from the GST compensation cess fund.

Under this arrangement, states received ₹1.10 lakh crore to meet their revenue shortfall in 2020-21 and a ₹1.59 lakh borrowing plan was approved for the current fiscal year at the 43rd meeting of the GST Council on May 28 last year.

India's first virtual platform for spice exporters launched

Saturday January 22, 2022

India’s first virtual platform for spice exports ‘Spice Xchange India' was launched on Jan 20.

Nestle says Kitkat wrappers with Lord Jagannath pics 'already withdrawn'

Saturday January 22, 2022

Nestle India has said that it has "already withdrawn" from the market packs of its popular chocolate

FDI flows to India slip 26 per cent in 2021: UN report

Saturday January 22, 2022

Foreign Direct Investment (FDI) flows to India in 2021 were 26 per cent lower, mainly because large M&A

FDI flows to India slip 26 per cent in 2021: UN report

Foreign Direct Investment (FDI) flows to India in 2021 were 26 per cent lower, mainly because large M&A deals recorded in 2020 were not repeated, the UN trade body has said.

The UN Conference on Trade and Development (UNCTAD) Investment Trends Monitor published on Jan 18 has said global foreign direct investment flows showed a strong rebound in 2021, growing 77 per cent to an estimated USD 1.65 trillion, from USD 929 billion in 2020, surpassing their pre-COVID-19 level.

The report said developed economies saw the biggest rise by far, with FDI reaching an estimated USD 777 billion in 2021 - three times the exceptionally low level in 2020.

FDI flows in developing economies increased by 30 per cent to nearly USD 870 billion, with a growth acceleration in East and South-East Asia (+20 per cent), a recovery to near pre-pandemic levels in Latin America and the Caribbean, and an uptick in West Asia.

FDI flows to South Asia decreased 24 per cent to USD 54 billion in 2021 from USD 71 billion in 2020.

FDI in the United States, the largest host economy increased by 114 per cent to USD 323 billion, and cross-border M&As almost tripled in value to USD 285 billion.

China saw a record USD 179 billion of inflows - a 20 per cent increase - driven by strong services FDI.

Of the total increase in global FDI flows in 2021 (USD 718 billion), more than USD 500 billion, or almost three quarters, was recorded in developed economies.

Developing economies, especially least developed countries (LDCs), saw more modest recovery growth, the report said.

The World Investment Report by UNCTAD released in June last year had said that amid the pandemic, India received USD 64 billion in foreign direct investment in 2020, the fifth-largest recipient of inflows in the world.

FDI to India increased 27 per cent to USD 64 billion in 2020 from USD 51 billion in 2019, pushed up by acquisitions in the information and communication technology (ICT) industry, the report had said.

Agricultural exports likely to create history crossing USD 50 billion, says Ministry of Commerce

Saturday January 22, 2022

The country's exports of agricultural products, including marine and plantation goods, increased

Rohit Sharma, Rishabh Pant and R Ashwin named in ICC Men's Test Team of 2021

Saturday January 22, 2022

Three Indians -- Rohit Sharma, Rishabh Pant, and Ravichandran Ashwin have been named in ICC

Kohli, Pant and Bumrah move up in latest ICC Test rankings; Petersen gains big

Saturday January 22, 2022

Indian star Virat Kohli on Jan 19 moved up two places to seventh after scores of 79 and 29 in his last Test

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Maldivian blogger Yameen Rasheed's murder: Two sentenced to life imprisonment, 4 acquitted

Maldivian blogger Yameen Rasheed's murder: Two sentenced to life imprisonment, 4 acquitted

Finance Minister to release Rs 47,541 crore advance instalment of tax devolution to States

Finance Minister to release Rs 47,541 crore advance instalment of tax devolution to States

India's first virtual platform for spice exporters launched

India's first virtual platform for spice exporters launched

Nestle says Kitkat wrappers with Lord Jagannath pics 'already withdrawn'

Nestle says Kitkat wrappers with Lord Jagannath pics 'already withdrawn'

FDI flows to India slip 26 per cent in 2021: UN report

FDI flows to India slip 26 per cent in 2021: UN report

Agricultural exports likely to create history crossing USD 50 billion, says Ministry of Commerce

Agricultural exports likely to create history crossing USD 50 billion, says Ministry of Commerce

Rohit Sharma, Rishabh Pant and R Ashwin named in ICC Men's Test Team of 2021

Rohit Sharma, Rishabh Pant and R Ashwin named in ICC Men's Test Team of 2021

Kohli, Pant and Bumrah move up in latest ICC Test rankings; Petersen gains big

Kohli, Pant and Bumrah move up in latest ICC Test rankings; Petersen gains big

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