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ECONOMY NEWS - Page 210
Government needs to move fast on labour reforms, say expertsSubscriber Only
September 4, 2017 01:15 IST
"As of now, for industrial units employing more than 10 workers, they need state governments’ permission to close down a factory. Legislative changes through Factories Act have been pending. It needs to be fast tracked,” an expert at FICCI said.
Goyal’s tenure: Reforms in coal auctions to UDAY, green energy pushSubscriber Only
September 4, 2017 01:09 IST
On May 26, 2014, when Piyush Goyal took the oath along with the Prime Minister, approximately two-thirds of the major power plants across the country had critical coal stock of fewer than seven days.
Expenditure on food security: When Nirmala Sitharaman fought for a peace clauseSubscriber Only
September 4, 2017 07:30 IST
Countries like Canada, Mauritius, Israel and the European Union have been expecting India to take the lead and conclude the negotiations for their respective Free Trade Agreement (FTA) as soon as possible.
Former RBI governor Raghuram Rajan admits warning govt about unplanned demonetisation
September 3, 2017 18:15 IST
Former RBI chief Raghuram Rajan said that he had warned the Centre about the immediate consequences of unplanned demonetisation, and had proposed substitute moves for rooting out a suspected shadow economy.
India finalising dates for trade policy forum meet with US
September 3, 2017 16:00 IST
Sitharaman, who held the Commerce and Industry portfolio before being named the Defence Minister in today's Cabinet reshuffle, said: "We will have to talk with the US on trade policy-related matters. We will definitely give the dates and are discussing that."
It may take ATMs three months to dispense Rs 200 notesSubscriber Only
September 3, 2017 15:56 IST
Reserve Bank of India (RBI) did issue a statement saying that the supply of the new Rs 200 notes would soon be ramped up, but has not given any time-frame by which it will be available in adequate numbers.
ITR numbers up 25% this year, but bulk of it is small tax payersSubscriber Only
September 3, 2017 10:37 IST
In August, the Central Board of Direct Taxes (CBDT) had said that there was a 25 per cent increase in the number of ITRs filed between April 1 and August 5.
Government waives fee on late filing of GSTR-3B return
September 3, 2017 00:22 IST
Finance minister Arun Jaitley, while announcing the figures for GST collections for July, had said that a nominal late filing penalty of Rs 100 per day for CGST and SGST each will be levied for those who haven’t yet paid the GST.
Use data effectively to exceed revenue target for IT, urges Finance Ministry
September 3, 2017 00:22 IST
Prime Minister Narendra Modi had asked tax officers to use data analytical tools to proactively track and determine undeclared income and wealth and highlighted the need to strengthen data analytics and investigation wing of the tax department.
PM Modi to taxmen: Use data analytics to track undeclared income, wealth
September 2, 2017 01:02 IST
Honest cannot continue to pay the price for the misdeeds of the dishonest, says PM Modi
GST: Centre waives off late-filing penalty
September 2, 2017 00:56 IST
The last date for filing GST returns for July was August 25 for taxpayers who did not want to claim transitional input tax credit, while it was August 28 for those who wanted to avail transitional credit.
GDP growth expected to soar to 7-7.5 per cent in Q2: Niti Aayog vice-chairman Rajiv Kumar
September 1, 2017 16:53 IST
The noted economist's comments came after the economic growth slumped to three-year low of 5.7 per cent in the first quarter due to disruptions caused by demonetisation as well as the slowdown in manufacturing activities.
Downturn in India’s growth ‘very worrying’: Kaushik Basu
September 1, 2017 16:06 IST
Basu said from 2003 to 2011, India was growing typically over 8 per cent per annum. The year of global crisis, 2008, it dropped briefly to 6.8 per cent, but over 8 per cent growth had become the new norm for India.
Former finance secretary asked to explain contract to currency-paper supplierSubscriber Only
September 1, 2017 05:19 IST
Sources have told The Indian Express that DoPT has sent the former Finance Secretary a “show-cause” seeking his explanation on how extensions were given to DelaRue, a British firm, in 2012 for the supply of colour shift (security) thread without tenders when he was Finance Secretary.
Fiscal deficit touches 92.4 per cent of BE at July-end
September 1, 2017 03:59 IST
In April-July this year, the Centre released about Rs 1.5 lakh crore in food, fertiliser and fuel subsidies, a rise of 42 per cent YoY.
Two standard GST rates should converge into one in due course: Arun Jaitley
September 1, 2017 03:45 IST
“We are also at an active stage going for consolidation. We don’t need so many public banks. We need fewer but stronger banks,” said Finance Minister Arun Jaitley.
The Economist India Summit 2017: Expected note ban to dent a few quarters, positive later, says Arun Jaitley
September 1, 2017 03:37 IST
‘Anonymity around the money which was otherwise floating in the system has come to an end’
Demonetisation, GST and RERA impact: Falling interest rates fail to lift home loan demandSubscriber Only
September 1, 2017 02:17 IST
Despite rate cuts by some banks, home loan growth has fallen to 10.5 per cent in the year to July as against 17.2 per cent a year ago
Our worst fears have come true, sub-6 pc growth is catastrophe: P Chidambaram on GDP figures
August 31, 2017 22:43 IST
"The slide in economy continues. Slow growth, low investment and no jobs. An explosive cocktail. Our worst fears have come true. Sub-6% growth is a catastrophe, " Former Finance Minister P Chidambaram tweeted.
Finance Minister Arun Jaitley hopeful of 7% GDP as manufacturing ‘bottoms out’
August 31, 2017 21:50 IST
On the same rationale, with reforms continuing, confidence in economy globally being high, the FDI (inflow) will continue. The monsoon overall -- the bigger picture -- looks to be good and therefore that should send a positive impact," Jaitley said.
Expected note ban to dent a few quarters, positive later: Arun Jaitley
August 31, 2017 21:33 IST
Arun Jaitley said: “The anonymity around the money which was otherwise floating in the system has come to an end. The money got identified with the owner. And henceforth, he was fixed with explaining the liability of the money."
Rajiv Kumar appointed Secretary of Department of Financial Services
August 31, 2017 21:10 IST
Rajiv Kumar has been appointed as the Secretary of the Department of Financial Services while Asha Ram Sihag is the new Secretary of the Department of Heavy Industry.
GDP growth hits three-year low of 5.7%, India Inc upset; Govt hopes GST will improve situation
August 31, 2017 21:12 IST
GDP down: Demonetisation of high-value currency notes in November last year impacted economic activities in the January-March quarter as GDP growth slipped to 6.1 per cent and further to 5.7 per cent in the three months to June.
India’s GDP growth slips to three-year low of 5.7 per cent, Arun Jaitley expresses concern
August 31, 2017 20:33 IST
India's GDP growth slumped to a three-year low of 5.7 per cent during April-June - lagging China for the second straight quarter - as manufacturing slowed ahead of the GST launch amid demonetisation effect.
Finance Ministry notifies e-way bill rules under new GST regime
August 31, 2017 18:12 IST
The e-way bill provisions were approved by the GST Council, chaired by Finance Minister Arun Jaitley and his state counterparts, in its last meeting on August 5.
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