"The world is trying to deglobalise and if you hear the US President, it is clear that they are increasingly talking about their own economy and talking about tariffs. However, I think that it suits us as we are not very outward looking."
The initially proposed features of GST — reverse charge mechanism, where the tax liability lies on the buyer in case of unregistered seller and tax deduction at source/tax collected at source are in limbo but may come into force in the second year of GST.
Market sentiments got a boost after data showed that foreign portfolio investors (FPIs), who had been net sellers for the past several sessions, were back to buying mode on the domestic bourses.
The weakening rupee could prompt foreign investors to offload more bonds, market observers said, since otherwise their portfolios would continue to lose value.
SEBI Chairman Ajay Tyagi also said its investigation in the co-location case has nothing to do with the proposed initial public offer of NSE.
Nomura's analysis is based on the past 50 financial crisis indicators, which are designed to warn of domestic credit and financial risks, rather than balance of payments risk.
According to Michael Patra, Executive Director, RBI, the prolonged period of staying on hold is denting the credibility of the MPC’s commitment to maintaining inflation at the centre of the target band.
CAD, the difference between the inflow and outflow of foreign exchange, jumped to $48.7 billion, or 1.9 per cent of GDP, in 2017-18 fiscal. This was higher than $14.4 billion, or 0.6 per cent, CAD in 2016-17.
In the previous interactions, the Prime Minister had heard beneficiaries of free cooking gas (LPG) scheme, financial inclusion initiative, start-up enterpreneurs, health scheme and Digitial India.
Piyush Goyal also said that the country is poised for double digit growth and it could happen by the fourth quarter of the current financial year.
Kant added that Prime Minister Narendra Modi and Chinese President Xi Jinping have set the direction for bilateral ties and now, it is up to the people and companies of both the nations to take it forward.
Taking a dig at the critics of the government, Jaitley said that India's GDP has not declined by 2 per cent on account of demonetisation and GST implementation, nor will it India live in poverty as predicted by former finance minister.
Meanwhile, the benchmark Sensex rose by 76.29 points, or 0.21 per cent, to 35,698.43 in early trade.
BofAML in a research note said, it expects inflation to cool off to 4.2 per cent in the second half of 2018-19 (verses RBI's 4.7 per cent) as base effect fades.
In a notification to the World Trade Organisation (WTO) on June 14, India emphasised that the tariffs will be substantially equivalent to the amount of trade affected due to the US's measures.
With the US Federal Reserve having hiked the interest rate by 25 basis points earlier this week, the potential weakening of the rupee against the dollar might brighten export prospects.
It can be noted that there was a dip in the growth in the first half of the previous fiscal, which was attributed by analysts to GST implementation and the waning effects of demonetisation.
The Finance Ministry has amended Central GST rules stating that 50 per cent of the amount is to be deposited in the consumer welfare fund constituted by the Centre and the remaining to the fund set up by the 'concerned state'.
Yesterday, the rupee had gained 3 paise to end at 67.62 against the US currency, cutting short its two-day decline.
According to government data released Thursday, inflation rate for food articles was at 1.60 per cent in May 2018, as against 0.87 per cent in the preceding month.