fiscal deficit target, GDP, bank reform, PM Modi, Modi advisor, business news, indian express news
October 17, 2017 6:10 pm

Prime Minister Narendra Modi's government has already used up nearly all of its budget for the current fiscal year and tax revenues are expected to fall far short of initial expectations.

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October 17, 2017 1:35 pm

Inflation, based on the wholesale price index (WPI), had soared to a four-month high of 3.24 per cent in August 2017. It was 1.36 per cent in September 2016.

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October 17, 2017 12:09 pm

From a monthly average of USD 3.8 billion in the first half of the year, the total inflows thinned to USD 0.4 billion in August 2017 and turned to net outflows of USD 1.5 billion in September 2017, it observed.

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October 17, 2017 9:07 am

The initial size of the Fund, set up two years ago, is being expected to close at $2.1 billion, with the government keeping a green shoe option to raise it up to $2.8 billion.

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October 17, 2017 2:41 am

The Council also is learnt to have agreed upon the need to have a proper module and adequate pilot testing in place to ensure that the IT backbone for e-way bill is stable.

Make in India, simplifying GST , GST compliance, ease of business, Goods and services act, GST loopholes, corruption, Business news, indian express news
October 16, 2017 3:43 pm

Corruption and the reluctance to pay taxes forced the Government to dish out a rigid GST framework. Retailers especially the small and medium business men should be mindful of the fact the Government can provide compliance relaxation only if tax cheating ends.

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October 16, 2017 2:00 am

Suggestions to cut composition rate to be taken up in next GST Council meeting.

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October 15, 2017 5:42 pm

Finance Minister Arun Jaitley is on a week-long official visit to the US to attend the annual International Monetary Fund and World Bank meeting.

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October 15, 2017 3:09 pm

Describing the two major recent reforms in India -demonetisation and Goods and Services Tax (GST) - as a monumental effort, Lagarde said it is hardly surprising that there "is a little bit of a short-term slowdown" as a result.

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October 15, 2017 1:54 am

GCCI president Shailesh Patwari said that in view of the festive season, last date of filing GST return, which is October 20, should be extended till October 31

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October 14, 2017 12:12 pm

"First priority is to address the corporate and banking sector weaknesses, by accelerating the resolution of non-performing loans, rebuilding the capital buffers for the public sector banks, and enhancing banks' debt recovery mechanisms," said Kenneth Kang.

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October 14, 2017 7:31 am

"We want a drop in interest rate. This (interest rate) is a huge problem now for us. Real interest rate in India today is touching six percent," FICCI chief Pankaj Patel said, arguing that there should be balance between growth, inflation, and interest rates.

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October 14, 2017 6:45 am

"I am certain that now that the growth is returning back to the world, the future holds an important direction as far as India is concerned," Jaitley said.

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October 14, 2017 3:05 am

Following the finance minister’s statement that the GST Council will take up the issue of bringing real estate sector under the new indirect tax regime in its next meeting, sectoral players say that this would ease burden on consumers

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October 17, 2017 12:33 pm

Diwali is an ode to happiness, hope and homecoming, but it’s also a prayer for wealth and well-being. In this special issue, we look at the centrality of finance in our lives. But, first, a brief history of money.

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October 13, 2017 2:48 pm

By all indications there is a "more positive mood around the world" as far as economy is concerned, Arun Jaitley said.

Punjab Irrigation and Power Minister Rana Gurjit Singh and his wife, Rana Rajbans Kaur, took loans from the same three companies that paid a firm which, in turn, paid 50 per cent of the bid amount for two sand mines allotted to two former employees of the minister.
October 13, 2017 7:15 am

The International Monetary Fund (IMF) on Tuesday also cut its growth forecast for the Indian economy by half a percentage point to 6.7 per cent for 2017-18.

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October 13, 2017 2:05 am

The building of infrastructure, high levels of infrastructure spending can be a major drive, which I think is less vulnerable to short-term automation than manufacturing, said Turner.

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October 13, 2017 1:55 am

The finance minister said India had historically been one of the least efficient tax system in the world with an extremely small tax base.

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October 12, 2017 7:52 pm

Preliminary data released by the Central Statistics Office on Thursday showed India's consumer price inflation numbers to have remained steady in September while industrial production rose favourably.

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October 12, 2017 4:10 pm

Here are the reasons why Finance Minister Arun Jaitley personally believes real estate should be brought under GST

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October 12, 2017 7:35 am

The provisional figures of direct tax up to September 2017 show that net collections stood at Rs 3.86 lakh crore which is 15.8 per cent higher than last year.

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October 12, 2017 1:50 am

Skills Acquisition and Knowledge Awareness for Livelihood Promotion (SANKALP) is a Rs 4,455-crore centrally sponsored scheme, including Rs 3,300 crore loan support from World Bank.

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October 12, 2017 1:35 am

More than 33 crore invoices were filed and processed by GST system..,” the GSTN release said.

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October 11, 2017 5:15 pm

International financial institutions like World Bank, IMF and more have attributed India’s economic slowdown, at least partly, due to milestone economic events like demonetisation and rollout of the Goods and Services Tax (GST).

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October 11, 2017 11:17 am

Evidence suggests that post-GST manufacturing and services contracted sharply, it said adding that however, activity is expected to stabilise within a quarter – maintaining the annual GDP growth at 7.0 per cent in 2018.

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October 11, 2017 10:32 am

The rupee looked good, taking support from a higher opening in domestic stocks. The dollar's falling fortune against currencies overseas was also instrumental in the rupee moving to a higher plane. 

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October 11, 2017 1:38 am

The banking sector’s total stressed assets are expected to increase to 13-15 per cent of total loans by end March 2018.

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October 11, 2017 1:30 am

The RBI this month raised its inflation target to 4.2-4.6 per cent for the second half of this fiscal from 4-4.5 per cent announced earlier

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October 10, 2017 10:25 pm

Arun Jaitley said under the GST the government has unveiled attractive schemes to ensure that the non-compliant in India become compliant.

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October 10, 2017 8:19 pm

"In India, growth momentum slowed, reflecting the lingering impact of the authorities’ currency exchange initiative as well as uncertainty related to the midyear introduction of the country-wide Goods and Services Tax," the IMF said.

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October 10, 2017 7:32 pm

The country's GDP growth rate was pegged at 5.7 per cent for the quarter ended June 30.

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October 10, 2017 1:59 pm

Arun Jaitley was addressing a New York audience at an event organised by US-India Business Council in partnership with the Confederation of India Industries.

Make in India, simplifying GST , GST compliance, ease of business, Goods and services act, GST loopholes, corruption, Business news, indian express news
October 10, 2017 12:30 am

The last GST Council meeting saw some far-reaching measures focused largely on SMEs and exporters.

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October 9, 2017 7:56 am

Employment prospects have been the biggest cause of worry for respondents, with sentiment plunging further into the pessimistic zone; the outlook on employment has also weakened in the last two rounds.

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October 9, 2017 12:19 am

Sectors such as IT and pharma are expected to turn in very ordinary numbers; tech firms are fighting for market share amidst a global slowdown while drug firms are grappling with regulatory issues.