New Delhi, March 17 (TIWN) Experts have pointed out that the provision providing for concessional income tax rate of 5 per cent on debt return for foreign portfolio investors (FPIs) has been inadvertently omitted.

Out of the 10 indicators of QET (Quick Economic Trends) of economic and business activity tracked by the industry body PHDCCI, 7 have performed positive in February 2021 of which passenger vehicle sales has shown the highest growth of 18% over the corresponding month in the previous year.  Though COVID-19 cases are re-emerging in some states including Maharashtra, Kerala, Punjab, Karnataka, Gujarat and Tamil Nadu, the movement of the Indian economy remains steady in February 2021.  We are happy to note that the vaccination drive in the country is moving at a faster rate, with more than 2.6 crore vaccines being administered so far, said Aggarwal.  Positive GDP growth to the level of 0.4% in Q3 FY 2020-21 and a steady improvement in lead economic and business indicators would go a long way to strengthen economic growth in the coming quarters with the enhanced level of confidence of businesses, he said.  Ten economic and business indicators of QET include demand and supply indicators along with external and financial sectors indicators, according to PHDCCI.