ECONOMY NEWS - Page 202

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Sovereign Gold Bond: Finance Ministry fixes rate at Rs 2,971 per gram

October 22, 2017 02:47 IST

Rs 50/ gm discount from issue price if applied online and paid via digital mode

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Karnataka CM Siddaramaiah writes to FM, seeks zero GST on hand-made goods by co-operative societiesSubscriber Only

October 21, 2017 02:53 IST

The Karnataka CM has raised the issue at the insistence of a committee of the Gram Seva Sangh and following a hunger strike by noted Kannada theatre personality Prasanna seeking GST exemption for hand-made goods.

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GST: Anti-profiteering screening panel set up in Madhya Pradesh, Chhattisgarh

October 20, 2017 16:40 IST

It said that the anti-profiteering screening committee of Madhya Pradesh included CGST, Bhopal (audit), commissioner Atul Saxena, and special commissioner, state tax, Rajesh Bahuguna.

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Monetary Policy Committee meeting: Five out of six MPC members opted for status quo on rates

October 19, 2017 00:29 IST

Only one member voted to lower the key repo rate by 25 basis points arguing that inflation had eased enough to justify a rate cut in the policy review.

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India pitches for pricing flexibility in LNG contracts

October 18, 2017 14:12 IST

The pact, it said, would help in promoting bilateral relationship between India and Japan in the LNG sector. India and Japan are major consumers of energy in the world. In LNG sector, Japan is world's largest importer and India is 4th largest importer.

Kapil Sibal: The PM in attempting to usher in the era of a cashless society, has rendered poor people cashless.

GST revenue loss: Centre pays Rs 8,698 crore to states, UTsSubscriber Only

October 18, 2017 02:00 IST

Payout stands at 58% of total Rs 15,060 cr raised from cess in first 2 months of GST.

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India likely to stick to deficit target, may step up bank reform: Modi adviser

October 17, 2017 18:10 IST

Prime Minister Narendra Modi's government has already used up nearly all of its budget for the current fiscal year and tax revenues are expected to fall far short of initial expectations.

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WPI to moderate further; to average 2.8% in 2018, indicates Nomura report

October 17, 2017 13:35 IST

Inflation, based on the wholesale price index (WPI), had soared to a four-month high of 3.24 per cent in August 2017. It was 1.36 per cent in September 2016.

India’s foreign reserves enough to cushion vulnerabilities, says DBS

October 17, 2017 12:09 IST

From a monthly average of USD 3.8 billion in the first half of the year, the total inflows thinned to USD 0.4 billion in August 2017 and turned to net outflows of USD 1.5 billion in September 2017, it observed.

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$1-billion pledge: Abu Dhabi to pick up a stake in infra fundSubscriber Only

October 17, 2017 09:07 IST

The initial size of the Fund, set up two years ago, is being expected to close at $2.1 billion, with the government keeping a green shoe option to raise it up to $2.8 billion.

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Goods and Services Tax: E-way bill roll-out in abeyance on IT infrastructure concernsSubscriber Only

October 17, 2017 02:41 IST

The Council also is learnt to have agreed upon the need to have a proper module and adequate pilot testing in place to ensure that the IT backbone for e-way bill is stable.

Simplifying GST: The dishonest Indian still cheats with full GST, half GST and no GST BillsSubscriber Only

October 16, 2017 15:43 IST

Corruption and the reluctance to pay taxes forced the Government to dish out a rigid GST framework. Retailers especially the small and medium business men should be mindful of the fact the Government can provide compliance relaxation only if tax cheating ends.

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GST composition scheme: GoM consensus on providing relief to small restaurantsSubscriber Only

October 16, 2017 02:00 IST

Suggestions to cut composition rate to be taken up in next GST Council meeting.

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Never spoke of fiscal stimulus to revive growth: Arun Jaitley

October 15, 2017 17:42 IST

Finance Minister Arun Jaitley is on a week-long official visit to the US to attend the annual International Monetary Fund and World Bank meeting.

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Indian economy on ‘very solid track’, says IMF chief Christine Lagarde

October 15, 2017 15:09 IST

Describing the two major recent reforms in India -demonetisation and Goods and Services Tax (GST) - as a monumental effort, Lagarde said it is hardly surprising that there "is a little bit of a short-term slowdown" as a result.

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There should be no penalty on late filing until GST return gets smooth: GCCI officialsSubscriber Only

October 15, 2017 01:54 IST

GCCI president Shailesh Patwari said that in view of the festive season, last date of filing GST return, which is October 20, should be extended till October 31

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India’s economic slowdown due to demonetisation, GST; need structural reforms: IMF

October 14, 2017 12:12 IST

"First priority is to address the corporate and banking sector weaknesses, by accelerating the resolution of non-performing loans, rebuilding the capital buffers for the public sector banks, and enhancing banks' debt recovery mechanisms," said Kenneth Kang.

RBI’s policies not growth-friendly: FICCI chief

October 14, 2017 07:31 IST

"We want a drop in interest rate. This (interest rate) is a huge problem now for us. Real interest rate in India today is touching six percent," FICCI chief Pankaj Patel said, arguing that there should be balance between growth, inflation, and interest rates.

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India has high growth potential for next two decades: Arun Jaitley

October 14, 2017 06:45 IST

"I am certain that now that the growth is returning back to the world, the future holds an important direction as far as India is concerned," Jaitley said.

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Inclusion under GST could make purchases less taxing

October 14, 2017 03:05 IST

Following the finance minister’s statement that the GST Council will take up the issue of bringing real estate sector under the new indirect tax regime in its next meeting, sectoral players say that this would ease burden on consumers

A brief history of moneySubscriber Only

October 17, 2017 12:33 IST

Diwali is an ode to happiness, hope and homecoming, but it’s also a prayer for wealth and well-being. In this special issue, we look at the centrality of finance in our lives. But, first, a brief history of money.