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Economy News

Government mulls incentives to 324 companies in bid to capitalize on trade war

The government proposes to provide the manufacturers land to set up a factory along with power, water and road access, according to draft of the document prepared by the Department for Promotion of Industry and Internal Trade and Invest India.

India heading for economic growth below 5%: Analysts

Growth of 4.2% would be the lowest since authorities adopted a new base year for gross domestic product data in 2012. The economy expanded 5% in the three months through June.

PSB frauds at over `95,700 crore in first 6 months of FY20: Nirmala Sitharaman

Comprehensive measures have been taken to curb the incidence of frauds in banks, including freezing bank accounts of 3.38 lakh inoperative companies, she said in the written reply.

Bihar has untapped export potential of $900 million: Exim Bank study

The study examined Bihar's economic profile and outlined strategies for creating an enabling environment for exports at the state-level.

Finance Commisson may get extension to work on tax share of UT of J&K

Any special dispensation for the Union Territory of Jammu & Kashmir will also have to be done keeping in view similar demands by two other union territories with a legislature, Delhi and Puducherry, to be a part of the divisible pool.

Key sales numbers show rural demand may dip further

Warning signs across FMCG, tractors & 2-wheelers, gold, real rural wages

World economy recovery on the cards in first quarter of 2020

If the Trump administration follows through on its threat to impose additional tariffs on Chinese goods in December, global growth will decelerate further in the final quarter of this year.

FM holds meeting on GST simplification; similar talks across country on Dec 7

Discussions with chartered accountants, tax practitioners, traders and various other stakeholders

ITAT upholds withdrawal of I-T exemption to Young Indian

The company was incorporated in FY12. The tribunal dismissed the appeal made by Young Indian seeking that its exemption not be withdrawn retrospectively.

‘Don’t want any company to shut operations’: Sitharaman on telecom financial stress

The statement comes days after growth in bank credit to industries slowed to 2.7 per cent in September — the lowest in the last 12 months.

Moody’s cuts India forecast for 2019: ‘Slowdown lasting longer than expected’

India’s economy grew 5 per cent year-on-year in the June quarter, its weakest pace since 2013, which had prompted a slew of interest rate cuts by the Reserve Bank and forcing the government to cut corporate taxes sharply.

Deadline for GST annual returns extended; FM to seek opinion of experts on Saturday

The earlier deadline for filing of GSTR-9 and GSTR-9C for 2017-18 was November 30, 2019, while that for 2018-19 was December 31, 2019.