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States get nod to borrow more for FY20, but must amend FRBM law

March 14, 2020 2:17:39 am

The directive was issued by the Finance Ministry over two weeks ago, after which some of the states took the call to amend their respective FRBM laws, a Finance Ministry official said.

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Amit Mitra writes to FM: Not right time to hike GST rates

March 14, 2020 2:04:09 am

Rate hikes for several items including textiles, footwear, fertilisers, mobile phones, tractors and renewable-energy devices have been recommended by a fi-tment committee under the Council. Inverted duty structure denotes prevalence of higher taxes on inputs than on finished items.

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Malls see decline in footfall; work from home, drop in airport trips hit taxi cos

March 14, 2020 1:39:27 am

Despite the sudden hit due to COVID-19, mall companies believe that bleeding in the short term to contain the outbreak is better than the disease continuing to spread.

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CAD narrows sharply to $1.4 billion in December quarter

March 13, 2020 1:17:52 am

Foreign portfolio investment recorded net inflow of $7.8 billion, as against an outflow of $2.1 billion in Q3 of 2018-19 on account of net purchases in both the debt and equity market.

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Jan factory output grows 2% on pickup in mining, electricity; Feb retail inflation eases to 6.58%

March 13, 2020 1:09:21 am

Retail inflation eased to a three-month low of 6.58 per cent in February with the food inflation moderating to 10.81 per cent from 13.63 per cent a month ago, data released by National Statistical Office (NSO) on Thursday showed.

Factory output shrinks, spike in retail inflation

Retail inflation growth eases to 6.58% in Feb; IIP rises 2% in Jan: Govt data

March 12, 2020 8:35:34 pm

The retail inflation, which is measured through the Consumer Price Index (CPI) rose by 6.58 per cent in February. Separately, the factory output, which is measured in terms of Index of Industrial Production (IIP), expanded by 2.0 per cent in January.

Change in inverted rate structure, payment to states to be key issues

March 12, 2020 6:03:05 am

Though revenue shortfall and delayed compensation payments to states are expected to dominate the meeting, apart from correcting the inverted structure, any major rate increase either across tax slabs or for cess is unlikely to be formalised, given the concerns about the overall economic slowdown, officials said

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Measures to prevent coronavirus may dent economic growth by up to 2 percentage points: Barclays

March 11, 2020 3:16:06 pm

Support to the economy will come from a dip in oil prices, Barclays said in a note, estimating low crude prices to aid growth by as much as 0.50 per cent.

Coronavirus: Moody’s cuts India growth forecast to 5.3% for 2020 on dampened domestic demand

March 9, 2020 5:07:56 pm

Moody's baseline forecasts assume that the number of cases would keep increasing globally and there would be travel restrictions through the April-June period.

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Retail inflation likely fell to a three month low in February: Poll

March 9, 2020 9:54:16 am

Inflation eased to 6.80 percent, significantly lower than January's 7.59 percent, according to the March 4-6 poll of more than 40 economists.

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Forex reserves hit new high as Brent crude price sees steep fall

March 9, 2020 1:07:02 am

Since September 20, 2019, when Finance Minister Nirmala Sitharaman announced a cut in corporate tax rates, the reserves have been rising week-on-week — this was the 23rd consecutive week of rise.

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Regulatory measures, resolutions help reduce NPAs in energy sector in 2019

March 8, 2020 12:44:10 am

In its reply to a query made by The Indian Express under the Right to Information Act, the RBI said as much as 18.03 per cent of the energy sector exposure as of September 2019 is still classified NPA, but it has fallen from 20.3 per cent in September 2018.

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India and the world have to meet coronavirus challenge together: PM

March 7, 2020 5:08:58 am

The virus, which originated in Wuhan, China, has infected over 1,00,000 individuals worldwide as well as over 30 individuals in India, and caused major disruptions in trade and production.

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RBI seeks IMF-driven currency swaps

March 7, 2020 4:45:58 am

“We will be able to respond to the challenges emerging out of the coronavirus epidemic,” Das said at an industry event here.

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GST officers meet: SOP to be framed to physically verify risky taxpayers

March 7, 2020 4:38:59 am

GST officers, who met for the third national conference on Friday, will also frame standard operating procedure (SOP) for physical spot verification of risky taxpayers and for blocking and unblocking of ITC, an official statement said.

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BJP’s ability to govern financial institutions exposed: Chidambaram

March 7, 2020 4:05:47 am

Finance Minister Nirmala Sitharaman said bad loans given during the UPA period had led to the present financial condition of the bank.

IMF pledges $50 billion, warns of growth plunge

March 6, 2020 3:05:38 am

In a late-night statement on Wednesday, the multilateral body pledged to make the funds available to help poor and middle-income countries where healthcare system remains inadequate to deal with such an epidemic.

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CSR regulations to be eased; priority is to ‘decriminalise’ provisions: FM Nirmala Sitharaman

March 5, 2020 3:26:08 am

Sitharaman also announced that the Cabinet approved a provision that would allow companies to offset any Corporate Social Responsibility (CSR) expenditure exceeding the mandatory 2 per cent of profits against required expenditure in future fiscals.

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India’s services sector growth at over seven-year high on strong export demand

March 4, 2020 11:41:21 am

The Nikkei/IHS Markit Services Purchasing Managers' Index climbed to 57.5 in February from January's 55.5. It was the highest reading since January 2013 and comfortably above the 50-mark separating growth from contraction for a fourth month.

Rupee slips 48 paise to 76.08 against US dollar in early trade amid coronavirus scare

Coronavirus outbreak: Rupee falls below 73/USD

March 4, 2020 3:15:38 am

The rupee had fallen to 72.76 against the dollar on Monday. This is the third consecutive session of fall for the domestic unit during which it has depreciated by 160 paise.

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