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:
Centre to ensure Chinese goods do not enter India via other countries like Taiwan, Singapore, Malaysia and Indonesia.
The government currently revises interest rates for small savings schemes on a quarterly basis.
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.
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.
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.