Economy News

GST Council to decide on tax cut on EVs this week

The Council, which has state finance ministers as members, in its meeting last month, had referred the issue relating to Goods and Services Tax (GST) concessions on electric vehicle, electric chargers and hiring of electric vehicles, to an officers committee.

ITR Filing 2019 Last Date: What is the fine if you miss filing returns before deadline?

Income Tax Return (ITR) Filing 2019-20 Last Date, Penalty: Anyone who misses filing the ITR before their respective deadline will have to pay a penalty. While earlier there was no fine on delayed ITRs, the government in 2017 announced a fine for the same.

Centre raises over Rs 10,000 crore on net basis via CPSE ETF

A record Rs 45,080 crore via two extant ETFs — Rs 26,350 crore from CPSE ETF and Rs 18,730 crore from Bharat-22 ETF — helped the Centre mobilise 53 per cent of the disinvestment receipts in FY19.

Simplify procedures to attract vendors: Piyush Goyal to GeM officials

Ease of getting registered on the GeM platform has to be ensured so that public sector banks, PSUs, ministries and departments of the state governments and local bodies at the district level are able to procure from GeM easily and smoothly, according to the minister.

No tax relief for FPIs pulls Sensex down 560 points

With this, the Sensex has fallen 818 points in the last two days, largely on the FPI tax worries. On Friday, led by a sell-off in auto and banking stocks, the 30-share index plunged 560.45 points or 1.44 per cent to settle at 38,337.01.

Sensex drops over 200 pts, Nifty below 11,550

The rupee appreciated by 23 paise to 68.74 against the US dollar in early trade Friday, as market participants pinned their hopes on aggressive interest cut by the US Federal Reserve later this month.

Ex-CEA Arvind Subramanian defends his growth numbers, says important to re-visit methodology

In a paper presented at the India Policy Forum in New Delhi, Subramanian begins by arguing that in the period between 2011 and 2016, the Indian economy was hit by a series of shocks which should have negatively impacted economic activity.

Budget proposals aimed at increasing investment activity, says Nirmala Sitharaman

While replying to a discussion on the Finance Bill, Sitharaman said the Budget proposals will promote Make in India and a ‘less-cash’ economy. The Bill was later passed by the Lower House by voice vote.

Dissenting voices in Govt: Surcharge on rich may well end up hurting investment

A top policy maker in the NDA government told The Indian Express that the surcharge will have the “most deleterious” impact on investments in the country and push out unicorns and discourage the inflow of high quality human capital that India was just beginning to attract.

WPI inflation slows to two-year low on price fall in fuel and power, manufactured items

The annual rate of inflation, based on monthly WPI, stood at 2.02 per cent in June compared to 2.45 per cent in May, as per provisional data released by Commerce Ministry Monday.

WPI inflation eases to near 2-year low at 2.02 pc in June

The Wholesale Price Index (WPI)-based inflation was at 2.45 per cent in May. It was 5.68 per cent in June 2018.

China GDP growth slows to 6.2% in second quarter

Chinese leaders have stepped up spending and bank lending to keep growth within this year's official target range of 6% to 6.5% and avert politically dangerous job losses. But they face an avalanche of unexpectedly bad news including plunging auto sales.