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Friday, January 17, 2020

Markets eye improved transparency in Budget: Report

January 16, 2020 12:24:09 pm

The DBS report noted that fiscal deficit in the first eight months of FY20, stood at 15 per cent above target, driven by weak revenues.

GST mop-up tops Rs 1 lakh crore, second month in row

GST fraud: 1,200 untraceable exporters made refund claims worth Rs 350 crore

January 16, 2020 3:17:58 am

Sources said nefarious elements among the customs broker community may be connected with these frauds, involving fictitious entities, existing only in virtual space through identity thefts with fake and morphed documents.

Ex-FinSecy Subhash Chandra Garg pegs FY20 fiscal deficit at 4.5-5% of GDP

January 16, 2020 3:17:56 am

He argued that a large portion of the deficit is being used to finance consumption expenditure, which is typically not a healthy practice.

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Exports drop for fifth straight month in Dec 2019; trade deficit narrows

January 15, 2020 10:07:49 pm

However, the trade deficit narrowed down to $11.25 billion due to the subsequent fall of imports during the same period.

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Vegetable prices push wholesale inflation to 7-month high in December

January 15, 2020 4:33:34 am

Vegetable inflation jumping to an over six-year high and pulses inflation rising to a more than 3-year high were the key reasons driving retail inflation.

Bond yields spike as CPI inflation jumps

January 15, 2020 4:42:53 am

The 10-year benchmark yield had ended at 6.60 per cent on Monday, compared to the previous close of 6.59 per cent on Friday. When bond yield rises, prices decline.

India’s WPI inflation rises to 2.59 per cent in December: Government data

January 14, 2020 1:06:01 pm

The wholesale price index (WPI) grew 0.58 per cent during the month of November 2019 and by 3.46 per cent in December 2018, the data released by the Ministry of Commerce & Industry showed.

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Retail inflation rises on food prices: Touches 7.35%, nears 6-year high

January 14, 2020 4:03:56 am

According to data released by the National Statistical Office (NSO) Monday, vegetable items recorded the highest inflation rate at 60.5 per cent in December 2019, followed by pulses and products at 15.44 per cent, meat and fish at 9.57 per cent and egg at 8.79 per cent, among others.

GST mop-up tops Rs 1 lakh crore, second month in row

Govt finds 931 GST fraud cases via data analytics

January 14, 2020 4:22:22 am

In the current year itself, refunds of over Rs 28,000 crore have been filed by over 27,000 taxpayers on account of an inverted duty structure, a senior tax official said.

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Retail inflation spikes to 7.35% in December, highest in over 5 years

January 13, 2020 6:45:08 pm

The inflation based on the Consumer Price Index (CPI) was 5.54 per cent in the month of November and 2.11 per cent in December 2018.

Government plans to set up Credit Enhancement fund to boost infrastructure projects

Government plans to set up Credit Enhancement fund to boost infrastructure projects

January 12, 2020 5:09:21 am

The fund will provide credit enhancement to such lower rated projects, enabling them to raise loans at better rates while improving their viability.

MDR compensation: Government turns down banks’ demand

MDR compensation: Government turns down banks’ demand

January 12, 2020 12:30:11 am

The waiver, effective January 1, is aimed at incentivising digital payments and is in sync with the policy objective of moving towards a less-cash economy.

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Nobel Laureate Abhijit Banerjee on Budget: Fiscal deficit already breached, wouldn’t support consolidation now

January 11, 2020 4:19:20 pm

On media reports speculating the Centre's plan to cut school education budget by Rs 3,000 crore, Banerjee said education is a state subject and cutting Rs 3000 crore is like a 'drop in the ocean'.

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Nov factory output sees growth on higher manufacturing, favourable base effect

January 11, 2020 2:45:29 am

Manufacturing sector — which carries a weight of 77.63 per cent in the Index of Industrial Production (IIP) — grew 2.7 per cent in November 2019 as against 2.3 per cent contraction in the preceding month and 0.7 per cent contraction in the corresponding period in 2018, the data showed.

Day after Amazon jibe, Piyush Goyal takes u-turn: 'Lawful investments are welcome'

ComMin looking at ways to revamp SEZ policy

January 11, 2020 2:46:56 am

Discussions were held to understand how to implement the remaining recommendations of an expert committee led by Bharat Forge chairman Baba Kalyani that was formed in 2018 to review the policy.

Industrial production grows 1.8% in November: Government data

January 10, 2020 6:32:55 pm

Index of industrial production (IIP) expanded by 1.8 per cent on-year to 128.4 during the month of November, data released by the Ministry of Statistics & Programme Implementation (MoSPI) showed.

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Economy has strength, capacity to bounce back: PM Modi at NITI meet

January 10, 2020 3:05:58 am

The PM said at the NITI Aayog meeting that the idea of $5 trillion economy is not a sudden development and it is based on a deep understanding of the strengths of the country, as per a statement issued by the Prime Minister’s Office.

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At pre-Budget meeting with FM, BJP leaders seek incentives for black money disclosure

January 10, 2020 6:56:14 am

FM Nirmala Sitharaman held four rounds of meetings with BJP leaders here, taking feedback for the Budget.

India needs 6.3% labour productivity growth to attain 8% hike in GDP: Ind-Ra

January 9, 2020 4:41:58 pm

Given the growth slowdown, this looks unlikely in the near term, but is not an insurmountable task, according to Ind-Ra.

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Inflation probably breached RBI’s target in December: Survey

January 9, 2020 2:01:05 pm

Over 60 per cent of respondents expected retail inflation, due for release on Jan. 13, to breach the upper band of the RBI's buffer range of 2 per cent to 6 per cent, with the highest forecast for 7.01 per cent.