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Biz EOD: Centre mulls curbs on Chinese imports; PPF interest may fall to lowest since 1974; EPFO adds 1.39 crore subscribers

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twitter-logoBusinessToday.In | June 22, 2020 | Updated 23:47 IST
Biz EOD: Centre mulls curbs on Chinese imports; PPF interest may fall to lowest since 1974; EPFO adds 1.39 crore subscribers
Top stories from the world of business and economy

Government is studying the possibility of hiking duties on almost all goods that are currently imported from China except active pharmaceutical ingredients. With bond yields seeing a decline, the government is expected to slash the interest rates of small savings schemes including Public Provident Fund (PPF) for the coming July-September quarter. Employees Provident Fund Organisation (EPFO) has added 1.39 crore new subscribers in previous two financial years. Read for more top stories from the world of business and economy:

1. Border backlash on trade! Duty hike coming on all Chinese imports except medicines

Centre to ensure Chinese goods do not enter India via other countries like Taiwan, Singapore, Malaysia and Indonesia.

2. PPF interest may fall to lowest since 1974 if govt cuts rates

The government currently revises interest rates for small savings schemes on a quarterly basis.

3. How India can reduce trade deficit with China by FY21 itself

India's bilateral trade with China stood at $ 81.86 billion in fiscal 2020 while trade deficit stood at $48.66 billion. China was by far the biggest importer of goods for India at $65.26 billion.

4. Tata Motors debt-equity ratio jumps despite Rs 6,500 crore equity infusion by Tata Sons

The consolidated net debt of the automotive business went up to Rs 48,282 crore compared to Rs 28,391 crore. It went up to Rs 50,065 crore in September 2019 before the slight decrease.

5. EPFO adds 1.39 crore subscribers in last two fiscals

Net addition to the subscriber base surged from 61.12 lakh added in FY19 to 78.58 lakh in FY20, a 28 per cent growth.

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