Journalism of Courage
ECONOMY NEWS - Page 205
Steps to ease GST pain points soon: Revenue Secretary Hasmukh AdhiaSubscriber Only
October 5, 2017 07:25 IST
Revenue Secretary Hasmukh Adhia also indicated that concerns raised by exporters and small scale industries would also be taken up by the GST Council.
RBI cuts growth rate to 6.7%, cautions against fiscal stimulusSubscriber Only
October 5, 2017 06:04 IST
RBI Governor Urjit Patel said with the combined fiscal deficit of the Centre and state governments in the region of over 6 per cent of the GDP, the “national fiscal stance can hardly be described as tight”.
Critics are spreading despair but the economy is on track, says PM Narendra ModiSubscriber Only
October 5, 2017 09:52 IST
PM Narendra Modi's remarks come days after former Union Finance Minister Yashwant Sinha, in a piece in The Indian Express, had said that demonetisation and the GST rollout were poorly timed and had hit the economy hard.
New foreign portfolio investment norms from April 2018, says RBI
October 4, 2017 18:39 IST
RBI also decided to broaden non-resident centralised treasuries of multinational companies to hedge the rupee (INR) risk on current account transactions of their Indian subsidiaries.
Check fuel prices in Delhi, Mumbai, Kolkata, Chennai, Bengaluru as government cuts excise duty
October 4, 2017 17:17 IST
The Centre slashed excise duty on petrol and diesel fuel on Tuesday leading to a drop of over Rs 2 in prices of these fuels across the country.
RBI ups inflation projection to 4.2-4.6 per cent during second half
October 4, 2017 16:32 IST
"Taking into account these factors, inflation is expected to rise from its current level and range between 4.2-4.6 per cent in the second half of this year, including the house rent allowance by the Centre," said the policy statement issued by RBI.
RBI keeps repo rate unchanged at 6%, revises growth projection to 6.7%
October 5, 2017 06:03 IST
The Reserve Bank of India in its bi-monthly monetary policy review announced that it will not change key rates. The repo rate will remain unchanged at 6 per cent and the reverse repo rate will remain at 5.75 per cent. The Central bank revised the growth projection down from 7.3 per cent to 6.7 per cent.
Leather exports dented, jobs hit following govt crackdown on abattoirs, cattle trade
October 4, 2017 09:25 IST
"Deterred by a clutch of measures that squeezed the supply of leather, a key raw material, brands like H&M, Inditex -owned Zara and Clarks, cut back their orders to India."
GSTN glitches: GoM to meet today, review progress made
October 4, 2017 03:02 IST
The group of ministers (GoM) headed by Bihar deputy chief minister Sushil Modi will meet on Wednesday in Bengaluru to review the progress made by GST Network — the IT backbone of the new indirect system — in fixing glitches that have plagued the system and frustrated taxpayers in filing tax returns. The GoM is […]
High level of stressed assets continues to choke economy: Crisil
October 4, 2017 02:47 IST
The credit ratio stood at 1.59 times and the debt-weighted credit ratio at 1.94 times, indicating that the trend of recovery in credit quality has sustained for a year now.
Manufacturing PMI grows for 2nd month
October 4, 2017 02:35 IST
The new orders sub-index, a proxy for domestic demand, fell to a three-month low of 51.0 in September from 51.5, discouraging firms from increasing output faster.
With 6% growth, India to surpass China as fastest growing oil market in 2018: Moody’s
October 3, 2017 19:28 IST
Despite the weakening growth numbers in both these countries, China and India will continue to be the key growth engines for the sector in Asia, representing over 80 per cent of the expected growth in 2018, says a Moody's report.
Exports from SEZ in fast lane, up 15.4% in April-Jun
October 3, 2017 15:20 IST
"In the GST (Goods and Services Tax) regime, units in SEZs have advantage compared to the units in domestic tariff area," Chairman of Export Promotion Council for EOUs and SEZs (EPCES) Rahul Gupta pointed out.
September manufacturing grows for 2nd month, hiring picks up
October 3, 2017 15:16 IST
The Nikkei India Manufacturing Purchasing Managers' Index (PMI) came in at 51.2 in September, little changed from its August reading, pointing to an ongoing recovery in business conditions, post GST launch.
From textiles to I-T: Wave of job losses hits new and old economySubscriber Only
October 4, 2017 09:33 IST
The Indian Express points to spreading employment distress in a market where fresh hiring opportunities are increasingly limited.
FPIs take Rs 11,000 cr off equities in September
October 2, 2017 14:34 IST
According to the latest depository data, the FPIs withdrew a net Rs 11,392 crore ($1.75 billion) in September. However, they pumped in Rs 4,430 crore in debt markets during this period.
IPOs raise record Rs 27,000 crore in April-September this year
October 2, 2017 12:16 IST
Adding to the depth of the IPO market, companies from diverse sectors like insurance, healthcare, education, bank, cable TV and shipping have made their way to the IPO space during the period under review.
Once more revenue starts coming in, we can have lesser GST slabs, says Arun Jaitley
October 2, 2017 07:14 IST
On Sunday, Arun Jaitley pointed out that India has conventionally been a tax non-compliant society but is now “slowly realising the virtues of greater compliance”.
Insolvency code: Biggest creditors call the shots
October 2, 2017 06:26 IST
The courts have a different interpretation of the Insolvency and Bankruptcy Code which may have prescibed a minimum vote of 75 per cent in a creditors’ committee before taking any decision thus the biggest creditor ends up calling all the shots.
MPC policy review on October 3-4: RBI likely to hit pause button over high consumer inflationSubscriber Only
October 2, 2017 00:41 IST
Lower foodgrain output, rising crude cost likely to keep prices elevated
Bhutanese economy likely to be impacted by GST: ADB
October 1, 2017 11:23 IST
The Government of Bhutan, the report said, has decided for the time being not to levy higher taxes on imports from India, but to use credit policy to restrain import demand, especially for automobiles.
India’s external debt rises 3% to $485.8 billion
September 30, 2017 02:38 IST
Increase partly due to valuation loss resulting from the depreciation of $ Vs Rs.
Net direct tax collections rise 15.7% to Rs 3.7L cr till Sept 18: Arun Jaitley
September 30, 2017 02:16 IST
The finance minister addressed the second meeting of the parliamentary consultative committee attached to the finance ministry on ‘Initiatives of IT Department’ on Friday.
RBI chief Urjit Patel calls on Finance Minister Arun Jaitley before policy review
September 29, 2017 18:11 IST
With the GDP growth falling to a three-year low of 5.7 per cent in the first quarter of the fiscal and retail inflation remaining in the target range, there have been demands of further lowering of the key lending or repo rate.
Rising inflation may dampen rate cut hopes: report
September 29, 2017 17:38 IST
According to Morgan Stanley, the central bank is expected to keep key policy rates unchanged while maintaining its neutral policy stance.
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