Journalism of Courage
ECONOMY NEWS - Page 207
‘FinMin expects monetary easing from Reserve Bank of India’
September 24, 2017 00:57 IST
The official added that the pickup in inflation, as seen for last month, has been taken into account in their analysis while suggesting a rate cut.
Arvind Subramanian admits lots of challenges ahead, says stimulus package being worked out
September 23, 2017 17:03 IST
The one-year extension of Arvind Subramanian as CEA comes at a time when the government is working on measures to support economic growth, after GDP growth fell to 5.7 per cent in April-June – the lowest in at least five quarters.
Chief Economic Adviser Arvind Subramanian gets one-year extension
September 23, 2017 16:53 IST
Arvind Subramanian has, over the last three years, brought new ideas in public discourse such as the JAM--Jan Dhan, Aadhaar and Mobile--trinity. He was closely involved in drafting the Goods and Services Tax Act and had also authored the 'Report on the Revenue Neutral Rate and Structure of Rates for the GST' in December 2015.
Arun Jaitley evades question on providing fiscal stimulus for boosting economy, says ‘no need to panic’
September 22, 2017 21:28 IST
There is an increased speculation over a possible fiscal stimulus which can go above Rs 40,000 crore after six successive quarters of dip in the economic growth, which slid to 3-year low of 5.7 per cent in the April-June quarter.
Implementation of GST is smoother than expected: Arun Jaitley
September 22, 2017 15:12 IST
Arun Jaitley said demonetisation was a conscious effort to change the saving and spending patterns of the Indian society, which was largely cash dependent.
Rupee declines 53 paise on US Fed rate hike hint, stimulus reports
September 22, 2017 02:03 IST
Thursday’s decline of 53 paise on a closing basis is the highest one-day drop in the rupee in almost four months with the currency having tested 64.85 on the lower side during the day.
Arun Jaitley assures ‘appropriate action’ to revive economy
September 21, 2017 21:44 IST
Besides falling GDP growth rate, exports are facing strong headwinds and the industrial growth is the lowest in five years. The current account deficit (CAD) - the difference between inflow and outflow of foreign exchange, has risen to 2.4 per cent of GDP in April-June.
File affidavit before tax commissioner: Govt
September 21, 2017 02:24 IST
Unbranded foodgrains like cereals and pulses are exempt under the new indirect tax regime of Goods and Services Tax (GST) which was rolled out from July 1.
‘Don’t wait till last day to file GST returns’
September 21, 2017 02:18 IST
Arun Jaitley said the GST Network had no difficulty to upload returns till last night, but when 75 per cent of businesses throng the portal on a day, there would be trouble.
Will take ‘any additional move necessary’ for growth: Arun Jaitley
September 21, 2017 02:01 IST
Arun Jaitley met commerce and industry minister Suresh Prabhu, railway minister Piyush Goyal and NITI Aayog Vice Chairman Rajiv Kumar on Tuesday, along with top finance ministry officials, to discuss the economic situation.
Arun Jaitley asks businesses not to wait till last day to file GST returns
September 20, 2017 18:44 IST
Till noon , as many as 18.41 lakh businesses had filed returns for August. Wednesday, being the last day for August GSTR-3B return filing, GSTN has handled over 80,000 returns per hour.
Arun Jaitley: Govt working on additional measures to boost economy
September 20, 2017 19:10 IST
Maintaining that inflation is under control, Finance Minister Arun Jaitley on Wednesday said the government is working on additional measures to bolster economy.
Examining reports on black money commissioned by UPA: Arun Jaitely
September 20, 2017 17:11 IST
The Terms of Reference (ToR) for the studies included assessment or survey of unaccounted income and wealth and profiling the nature of activities engendering money laundering both within and outside the country.
GST a tectonic shift, takes India closer to 8 per cent plus growth: World Bank
September 19, 2017 22:33 IST
"Today India is at the brink of a possibility of moving into 8 per cent plus growth rate. Why? Because India has made a very bold step in integrating internally its nation into one market. So the shift into GST is a tectonic shift," World Bank India chief Junaid Ahmad said.
India’s Bharat Oman Refineries buys first US crude for November arrival: Sources
September 19, 2017 20:17 IST
BORL is likely the third Indian oil refiner, after Indian Oil Corp and Bharat Petroleum Corp, to import US crude. Hindustan Petroleum Corp has also said it plans to buy US crude in the next few months.
India to lead next wave of economic growth with 1.08 billion working population by 2050: Report
September 19, 2017 14:49 IST
The "three big levers of economic potential", namely population, participation and productivity, is set to surge in India ensuring that it "cements" Asia at the centre of the world’s economy and its growth.
PM Modi to discuss economic situation with Arun Jaitley today
September 19, 2017 03:31 IST
Modi will likely get briefed on measures to create massive jobs and boost economic growth, which plunged to a three-year low of 5.7 per cent in Q1FY18.
GSTN glitches: 80 days later, hiccups remainSubscriber Only
September 19, 2017 02:36 IST
Slow processing, popping up of incorrect data in the error report and portal's inability to take a large amount of data in GSTR-1 in one go are some of the issues still being faced by those filing returns
Digital payment bound to pick up with new technology, says Arun Jaitley
September 18, 2017 20:35 IST
"Obviously in the month of November, December and January, a lot of people went in for digitisation in terms of mode of payment more out of compulsion rather than finding it a more convenient method to transact, but that compulsion created a habit for many," he noted.
India likely to be 3rd largest economy by 2028: HSBC report
September 17, 2017 14:10 IST
"In over the next ten years, India will likely surpass Germany and Japan to become the world’s third largest economy in nominal USD and the transition will happen even more quickly on a PPP (purchasing power parity) basis," HSBC's economists said in a note.
GSTN glitches: GoM selects 25 issues, to meet every fortnight
September 17, 2017 14:10 IST
Currently, there are over 85 lakh registered taxpayers under Goods and Services Tax (GST) regime. This include 62 lakh assessees who have migrated from the excise, service tax and Value Added Tax (VAT) system and another 23.18 lakh new registration.
India likely to be 3rd largest economy by 2028, says HSBC report
September 17, 2017 13:33 IST
Demographics and macro stability were pointed out as key strengths for the country by brokerage. Its estimates show India will be $ 7 trillion economy in 2028, compared to less than USD 6 trillion and USD 5 trillion for Germany and Japan, respectively.
Expect most issues related to GSTN to be resolved by Oct 30: GoM
September 17, 2017 03:54 IST
I don’t think they (Infosys as a vendor of GSTN) have failed: Revenue Secretary
Deposits in Gujarat decline by Rs 589 cr in Q1 FY18Subscriber Only
September 17, 2017 03:28 IST
A report released by the State Level Banker’s Committee Gujarat states that the aggregate deposits of the banks decreased from Rs 6,23,787 crore as on March 2017 to Rs 6,23,198 crore as on June 2017
GST compensation math for states: Centre seeks June, July VAT details to finalise revenue gapSubscriber Only
September 16, 2017 03:21 IST
Officials from Centre and states also monitoring high level of GST credit claims
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