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United Nations’ World Economic Situation and Prospects 2018 report has stated that the Indian economy will grow at 7.2% in 2018 due to robust private consumption, public investment and structural...
Dec 12, 2017
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Economists have urged Finance Minister Arun Jaitley to cut the corporate tax rate to make India globally competitive and give incentives to infrastructure and small businesses without affecting the...
Dec 12, 2017
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State Bank of India (SBI) has changed the names and IFSC codes of over 1200 branches across the country.   The changes have also been made to the branches of banks which were merged a few...
Dec 08, 2017
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The Ministry of Finance has clarified certain apprehensions with regard to "bail in" provisions in The Financial Resolution and Deposit Insurance Bill, 2017 (FRDI Bill).   In an official note...
Dec 08, 2017
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The International Energy Agency (IEA) believes that India is emerging as a “major driving force” in global energy trends, thanks to modern fuels and technologies.   Highlighting the key...
Dec 08, 2017
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The official form for making complaints under the anti-profiteering mechanism in the GST regime defeats the purpose of helping consumers get the full benefit of tax cuts and input tax credits, as...
Dec 08, 2017
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The price of bitcoin swung wildly on Friday morning, going beyond $19,000 only to fall sharply within minutes, as the frenzy surrounding the virtual currency escalated just days before it starts...
Dec 07, 2017
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The stock brokers' association has opposed a recommendation to do away with exemption on long-term capital gains (LTCG) tax.   "Doing away of the LTCG benefit will have a major impact on...
Dec 07, 2017
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A hostile takeover by an ‘insider’ appears counter-intuitive. The Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations 2015 (Insider Trading Regulations) bars an...
Dec 07, 2017
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In a pre-Budget meeting convened by Finance Minister Arun Jaitley on Wednesday, industry leaders have asked for lowering corporate tax rate as well as providing incentives to attract fresh...
Dec 07, 2017
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The planned Rs 2.1 lakh crore fund infusion for state-run banks “will be reform and a recap package and not just a recap package,” RBI Governor Urjit Patel said on Wednesday.    Notably, the...
Dec 07, 2017
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Reserve Bank of India (RBI) has capped charges on debit card transactions for small merchants.   The merchants with a yearly turnover of up to Rs 20 lakh will have to pay a maximum fees of Rs...
Dec 07, 2017
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A government-appointed committee is planning to recommend amendments to the IBC to exempt buyers of stressed assets from paying minimum alternate tax(MAT) and getting the Competition Commission of...
Dec 07, 2017
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Deferment of invoice-matching and falling GST revenue has led the Central Board of Excise and Custom (CBEC) to ask tax commissioners to collect minute data of taxes paid and credit availed by...
Dec 07, 2017
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The RBI’s Consumer Confidence Index fell to a 4-year low of 91.1 in November 2017. The index was lower than this in September during the Fed taper. Based on an RBI survey in Bengaluru, Chennai,...
Dec 06, 2017
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As fear of investigative agencies disrupting their lives grips banks, even if they adhere to the bankruptcy process, they have come up with a common set of evaluation criteria to select potential...
Dec 06, 2017
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The National Stock Exchange (NSE) has asked startups to list on its platform, thus providing them with the opportunity to allow private equity and venture capital firms to exit and raise funds from...
Dec 06, 2017
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The Monetary Policy Committee (MPC) of the Reserve Bank of India has kept the interest rate unchanged in its fifth bi-monthly policy statement of this fiscal year.   "On the basis of an...
Dec 06, 2017
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The goal of this article is to highlight how the recent interim changes and deadline extensions both delay the long-term benefits of GST adoption and expose companies to interest liabilities many...
Dec 06, 2017
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In its mid-term review of the foreign trade policy (FTP), the government announced to provide additional incentives worth Rs 8,450 crore a year to catalyse both merchandise and services exports...
Dec 06, 2017
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The confidence of the Indian business community took a hit in the second quarter of 2017-18 due to the implementation of Goods and Services Tax (GST).   According to a survey by the National...
Dec 06, 2017
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The government is setting up a mechanism to use data obtained from GST filings to track those who are escaping income-tax, two people close to the development said.    The government wants to...
Dec 06, 2017
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The All India Bank Employees' Association (AIBEA) has put forth a list of demands related to loan defaulters and Government’s holding in public sector banks. Among other things, the association has...
Dec 05, 2017
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There are about 60 companies of the 265 listed non-financial companies, which have been able to beat the dismal private investment trend to grow faster the GDP in the last five years.   An ET...
Dec 05, 2017
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The US equity market set a new record high early Monday after the Senate approved a massive and long awaited tax cut plan.   The bluechip Dow Jones Industrial Average touched 24,534.04 points,...
Dec 05, 2017
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The Central Board of Excise and Customs (CBEC) has asked for reports of assessees, with a special focus on the top taxpayers, an ET report said.    The government is concerned with the...
Dec 05, 2017
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Ahead of RBI’s policy rate review on Wednesday, rating agency Fitch said that the central bank had headroom to "keep the policy rate low" to improve the economy, which grew "weaker than expected"...
Dec 05, 2017
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India plans to overhaul its tax assessment and investigation process for the nation’s top 500 companies as part of PM Narendra Modi’s effort to improve ease of doing business and curb corruption,...
Dec 05, 2017
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Investment worth $9 billion has flowed into Indian e-commerce ventures in 2017, indicating that these ventures are living up to their promise.    A big amount of the $9 billion — $4 billion —...
Dec 05, 2017
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Revenue intelligence officials should use their discretion fairly and reasonably in their investigations, Finance Minister Arun Jaitley said at the celebration of 60th anniversary of Directorate of...
Dec 05, 2017
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The GST Network has asked exporters to see that the claims do not exceed the GST paid in a month.    The comments came after exporters filed 10,000 applications for refunds till November...
Dec 04, 2017
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The Monetary Policy Committee (MPC) is unlikely to change interest rates in its fifth bi-monthly policy statement, scheduled on December 6, said an ET Poll conducted among 20 market participants...
Dec 04, 2017
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The media and entertainment industry is expected to record an average annual growth rate of 11-12% over the next five years, said a report by the consulting firm Boston Consulting Group (BCG) and...
Dec 04, 2017
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The IT department has served notices to more than 50 people named on the list of secret Swiss accounts with HSBC Geneva, informing them about the date of hearing of their cases.    The Income-...
Dec 04, 2017
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Former Chief Economic Adviser (CEA) Kaushik Basu is disappointed with the Indian economic growth figures for the second quarter. The country’s GDP, according to Basu, should have grown at over 9...
Dec 04, 2017
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Eight public sector banks (PSBs) have decided to raise capital from the market within four months as part of the Rs 2.11 lakh crore recapitalisation plan, according to official sources. Some banks...
Dec 04, 2017
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Banks might clinch one-time settlements (OTS) with defaulting companies — on the RBI’s second list of defaulting firms — and take haircuts of 50-60% rather than face uncertainty in the courts. As...
Dec 03, 2017
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The telecom regulator, Trai, has approved faster processing of merger and acquisition (M&A) proposals.   The authority will streamline the penalty levy process among several steps, which is...
Dec 01, 2017
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The Union Budget 2018, scheduled to be presented on February 1, will focus on infrastructure and rural sectors, Finance Minister Arun Jaitley said on Thursday.   While delivering speech at an...
Dec 01, 2017
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Chief Economic Advisor Arvind Subramanian is of the view that policy experiments like demonetisation and GST rollout could have "reinforced" the growth deceleration that had already set in, a PTI...
Dec 01, 2017
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The country’s economic growth rose to 6.3 per cent in the July-September quarter, as against dismal growth rate of 5.7 per cent in the first quarter.    The growth in second quarter marked a...
Dec 01, 2017
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BSE has reportedly told the Union finance ministry that long-term capital gains (LTCG) exemptions cause huge revenue loss to the government and also lead to market manipulation, as per a Business...
Dec 01, 2017
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The International Monetary Fund (IMF) has plans to update its growth rate forecast for India in January 2018, as per a PTI report.   "We will be updating the forecast for India, including the...
Dec 01, 2017
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Britain is "very close" to an agreement on its Brexit bill, European Union said on Wednesday.   However, the reports of divorce settlement of about 55 billion euros have angered both Brexit...
Nov 30, 2017
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The revenue department and the exporters are at loggerheads over unpaid refunds and tax credits that have accrued to businesses since the implementation of Goods and Services Tax (GST).   The...
Nov 30, 2017
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Tata Sons chairman N Chandrasekaran has said India will continue to grow faster as compared to other economies in the next 10-20 years.    He called upon its group companies to use the...
Nov 30, 2017
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The amended Insolvency and Bankruptcy Code (IBC) may shut out several global private equity (PE) funds who have tied up at least $10 billion to invest in Indian non-performing assets, legal experts...
Nov 30, 2017
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SoftBank Group Corp. has offered to buy shares from investors and former and existing employees of Flipkart Ltd, valuing the e-commerce marketplace at $9-10 billion, three people familiar with the...
Nov 30, 2017
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The Union Finance Minister Arun Jaitley has dismissed the rumours that the government waived loans of big defaulters.   He said the government has taken firm decisions with regard to the...
Nov 29, 2017
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India's largest convention centre will be built in Dwarka locality of Delhi.    The construction of International Convention and Expo Centre (IICC), which will cost Rs 26,000 crore, received...
Nov 29, 2017
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