Finance

Sunil Sayal, CFO, Nokia Solutions   On the macro side, this Budget has put aside a larger proportion of resources for the upliftment of social standards and the rural population, namely...
Feb 02, 2018
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Vishesh C Chandiok, National Managing Partner, Grant Thornton India LLP: Overall, Budget 2018 is very much aligned to the macro-global direction – reduction in corporate tax rate, protecting...
Feb 01, 2018
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Insolvency and bankruptcy law (IBC) has put recovery process on a faster track and improved recovery position of banks, said a survey report by Ficci-IBA.   As per it, the Insolvency and...
Aug 13, 2018
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The income tax (I-T) department has accepted 99.65 per cent of tax returns as it is and has picked only 0.35 per cent cases for detailed scrutiny thereby showcasing full faith in the taxpayers,...
Aug 09, 2018
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The investment in logistics, including infrastructure, will touch $500 billion by 2025, said Union Minister of Commerce and Industry Suresh Prabhu on Monday. He said the sector will create millions...
Jul 31, 2018
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India’s infrastructure deficit is “too large”, said S&P Global Ratings, adding that the country will take time to close the sizeable deficit between supply and demand.   “India’s...
Jul 31, 2018
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The roll-out of Goods and Services Tax (GST) is a unique experiment and is a trailblazer in various ways, while the GST Council is a path-breaking mechanism for seamless interaction between the...
Jul 30, 2018
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The Department of Telecom (DoT) has given final approval to the merger of Vodafone India and Idea Cellular, said a report by Press Trust of India (PTI), citing government sources.    "The...
Jul 27, 2018
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The Parliament on Wednesday gave its nod to a bill that will help the government to bring back fugitives to face trial in India.   The Fugitive Economic Offenders Bill, 2018 now awaits the...
Jul 26, 2018
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Despite increasing global protectionism, India’s export will continue to register healthy growth rates and will touch $350 billion in the current fiscal year, said Union Minister of Commerce &...
Jul 26, 2018
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The gross bad loans of public sector banks (PSBs) has risen to 14.6 per cent of advances in 2017-18.   The minister of state for finance Shiv Pratap Shukla said in Parliament in a written reply...
Jul 25, 2018
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Construction companies are set to clock 20 per cent compound annual growth in revenue till 2020, said Crisil. The rating agency conducted a study of 66 companies it rates in the investment grade in...
Jul 24, 2018
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The tax authorities might conduct audit of e-commerce companies to check if they have passed on rate cuts in goods and services tax (GST) rates to consumers, said an ET report.   The National...
Jul 23, 2018
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Bihar deputy chief minister Sushil Kumar Modi has said that the GST slabs can be reduced to three from five currently, in order to provide convenience to consumers and businesses.   The process...
Jul 23, 2018
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There is a possibility that India could lose the trade dispute with the USA over export subsidies, said Commerce Secretary Rita Teaotia.   The US had filed a case against India in the WTO (...
Jul 20, 2018
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The GST Council is likely to establish a National Appellate Tribunal in Delhi.    It will have three regional benches at Mumbai, Chennai and Kolkata, with members consisting of judiciary as...
Jul 20, 2018
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India is on track to meet projected growth of 7.3 per cent in 2018, said an Asian Development Bank (ADB) report released on Thursday, adding the growth will further accelerate to 7.6 per cent a...
Jul 20, 2018
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The Indian growth story continues to be intact with the GDP expected to grow around 7.5 per cent in the current financial year and improve further in the coming years.   The slowing down of the...
Jul 19, 2018
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A developed corporate bond market is the need of the hour for India as eight per cent economic growth cannot be achieved without a robust corporate capex cycle, more so as sole reliance on bank...
Jul 19, 2018
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The total retail sales in India is likely to increase from $717.73 billion during calendar year (CY) 2014 to touch $1,244.58 billion by 2018, growing at an impressive rate of about 15 per cent and...
Jul 12, 2018
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The format for annual returns and audit is likely to be approved by GST Council in its next meeting scheduled to be held on 21 July. The move is aimed at checking tax evasion.   The GST Council...
Jul 10, 2018
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The Reserve Bank of India (RBI) and the Finance Ministry should work in unison to ensure that rupee does not face any more significant fall from the current levels, as the country could then be...
Jul 04, 2018
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The Government of India and banks, on Monday, came up with a new strategy to revive stressed assets outside the Insolvency and Bankruptcy Code (IBC).   It includes mechanisms like asset...
Jul 03, 2018
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The Government of India might strike off as many as 1,313 companies from the registrar of companies’ (RoC) database, which have failed to file annual reports for two years.    The move is a...
Jul 02, 2018
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Excludiung women from workforce has been a loss to big Asian economies like China and India. If these countries address this issue, then the gross domestic product (GDP) can be as high as 18 per...
Jun 21, 2018
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India is likely to achieve double digit growth by the fourth quarter of this year, said Piyush Goyal, Minister for Finance, Railways and Coal.   He said there was a demand uptick in the economy...
Jun 20, 2018
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The roll-out of goods and service tax (GST), which is regarded as one of the biggest tax reforms post Independence, has resulted in formalisation of economy and information flow, consequently,...
Jun 19, 2018
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The Government of India is committed to meet the fiscal deficit target of 3.3 per cent for 2018-18, interim Finance Minister Piyush Goyal said.   He said the government will meet all economic...
Jun 18, 2018
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The Financial Stability and Development Council (FSDC) sub-committee headed by RBI governor Urjit Patel, on Thursday, looked into the insolvency resolution process under the Insolvency and...
Jun 15, 2018
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Fitch Ratings, on Wednesday, upped India's economic growth forecast to 7.4 per cent for 2018-19.   Earlier, the global ratings agency had projected GDP growth at 7.3 per cent for 2018-19 and 7....
Jun 15, 2018
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General Motors, on Wednesday, announced Dhivya Suryadevara as the Chief Financial Officer (CFO) of the company.   Suryadevara, 39, is currently working as the vice president of corporate...
Jun 14, 2018
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The Government of India has extended special refund drive till Saturday. The fortnight drive, which was launched by the Government of India on May 31, was set to expire tomorrow.   "In view of...
Jun 13, 2018
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RBI governor Urjit Patel has suggested central bank nominee to refrain from the boards of public sector banks (PSBs) to avoid "any conflict of interest".   Patel told this while briefing...
Jun 13, 2018
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The Reserve Bank of India (RBI) has drafted guidelines on the loan system for delivery of bank credit.   The move is aimed to bring credit discipline among large borrowers, enjoying working...
Jun 12, 2018
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All 21 public sector banks (PSBs) have incurred a whole loss of Rs 873.57 billion in the 2017-18 fiscal. These banks had posted a net profit of Rs 4.73 billion in 2016-17.   Punjab National...
Jun 12, 2018
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The latest data released by Insolvency and Bankruptcy Board of India (IBBI) reveals that lenders of 12 bankruptcy-hit companies were able to get back 70 per cent of the total amount claimed in the...
Jun 11, 2018
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Authority of Advance Ruling (AAR) unit of Andhra Pradesh has said the goods and services tax (GST) will be levied on the goods supplied from Customs warehouse to merchant vessels on a foreign run...
Jun 11, 2018
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Moody’s Investors Service, on Thursday, said the Government of India can achieve its fiscal deficit target of 3.3 per cent of GDP in 2018-19, with its commitment to fiscal consolidation.   It...
Jun 08, 2018
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India's economic growth accelerated to 7.7 per cent of GDP in the January-March period of last fiscal.     Even Reserve Bank of India estimated GDP growth rate of 6.7 per cent for 2017-18 and 7...
Jun 08, 2018
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India might regain its position as the world's fastest growing major economy with growth rate at 7.3 per cent this fiscal year and 7.5 per cent in the next two "as temporary policy-driven factors...
Jun 07, 2018
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Foreign Direct Investment (FDI) to India was $40 billion in 2017 as against an inflow of $44 billion in the corresponding previous year, showing a decline of $4 billion, said World Investment...
Jun 07, 2018
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Gross non-performing assets in the banking system, which stood at 11.2 per cent (worth about Rs 10.3 lakh crore) in  2017-18, is likely to touch 11.5 per cent in this fiscal, says a Crisil report...
Jun 06, 2018
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The “hand of government” was the main driver behind GDP growth of 7.7 per cent in January-March period — the fastest pace in seven quarters, says an HSBC report.    Boosted by robust...
Jun 04, 2018
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Cumulative losses at public sector banks (PSBs) were large enough to wipe out almost all of the government's capital injections of $13 billion in 2017-18, said ratings agency Fitch Ratings, adding...
Jun 04, 2018
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The total gross GST revenue collected in the month of May is Rs 94,016 crore, said a note by Ministry of Finance on Friday.   The GST collection in April, on the cotrary, had crossed the Rs 1...
Jun 01, 2018
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The government has been able to meet the fiscal deficit target of 3.53 per cent of the GDP for the fiscal year 2017-18.    The fiscal deficit was Rs 5.91 lakh crore, which is 99.5 per cent of...
Jun 01, 2018
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India's per capita income grew at a rate of 8.6 per cent to Rs 1,12,835 during 2017-18, said an official data released on Thursday by the Ministry of Statistics and Programme Implementation (...
Jun 01, 2018
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Backed by gains in manufacturing and consumer spending, India will most likely retain the tag of the world's fastest growing major economy in the January-March quarter, a poll conducted by Reuters...
May 31, 2018
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About 20 public sector banks have incurred a loss of nearly Rs 60,000 crore in the January - March period of 2017-18.   There are just two banks - Indian Bank and Vijaya Bank - which have...
May 30, 2018
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The Ministry of Corporate Affairs (MCA) will issue notices to a fresh set of 2.25 lakh companies, for not making requisite filings for 2015-16 and 2016-17, said a report by TOI.   Sources told...
May 29, 2018
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