-Scroll.in Costlier imports and the widening of the current account deficit is likely to eat into India’s foreign currency exchange reserves. The Indian rupee touched a historical low, trading almost at Rs 80 against the US dollar on Wednesday. A knee-jerk, macro-analytical response studying India’s currency performance would mistakenly see this trend in isolation, while projecting a weakening of macro-economic fundamentals to be leading towards a Depreciation. Looking closely at the numbers it...
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Over a fourth of MSMEs lost more than 3% market share last fiscal: Crisil -Subhash Narayan
-Livemint.com While the industry Ebitda margin is expected to touch pre-pandemic level this fiscal, MSMEs in more than half the sectors will buck the trend. The performance is also underwhelming in the context of corporate India, which is expected to log a 10-14% increase in revenue and Ebitda margin of 19-20% NEW DELHI: More than a quarter of India’s micro, small and medium enterprises (MSMEs) lost over 3% market share due to...
More »Corporate tax assessment: CAG spots major errors in over 350 cases
-The Hindu Business Line Suggests CBDT to create a foolproof IT system, internal control mechanism The Comptroller and Auditor General of India (CAG) has pointed out significant errors in the assessment of over 350 cases related to corporate tax. It also advised the Central Board of Direct Taxes (CBDT) to put in place a foolproof IT system and internal control mechanism to avoid such recurrences. In a report tabled in Parliament, the apex...
More »The country should worry about further worsening of economic inequality in the post-COVID period
The World Economic Outlook – a bi-annual publication of the International Monetary Fund (IMF) -- released in October 2020 has anticipated that the economic progress made by the countries since the 1990s to reduce poverty would be turned upside down by the COVID-19 pandemic. On top of that, economic disparity would rise too in the post-COVID world because the crisis has disproportionately impacted women, informal sector workers and people with...
More »The Exodus of Finance from the Third World -Prabhat Patnaik
-Newsclick.in This unwillingness of finance to stay in, or move to, the Third World, is impairing the ability of several countries to pay for their imports and to service their external debt. There is an exodus of finance from the Third World at present, far exceeding in scale what had occurred in 2008 after the financial crisis. Even more important than the actual outflow is the desire on the part of finance...
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