Finance

Tax officials have slowly begun clearing pending refunds to exporters of the Integrated GST (IGST). There is no GST on exports; however, exporters have to pay IGST, which is refunded. Official data...
Oct 23, 2017
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Net direct tax collections for the April-September period stand at Rs 3.86 lakh crore, which is 15.8 per cent higher than the collection of same period previous year.    "Net direct tax...
Oct 12, 2017
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The IMF, in its World Economic Outlook report, has cut India’s FY18 growth forecast to 6.7%, on account of the twin impacts of demonetisation and GST. But IMF expects a revival in the economy when...
Oct 11, 2017
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Saudi Arabian Oil Co., popularly known as Saudi Aramco, is reportedly looking at mega investment in India. As India’s oil consumption is expected to grow from 4.6 million barrels per day to 10...
Oct 10, 2017
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The Reserve Bank of India (RBI) is mulling launching a financial literacy drive in 80 blocks in nine states on pilot basis. The pilot project is aimed at educating people on e-transactions, formal...
Oct 09, 2017
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The GST Council’s meeting today in Delhi will focus on revamping the GST to address the issues faced by small-scale industries, traders and exporters. The Council could consider raising the threshold...
Oct 06, 2017
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The recent dip in India's economic growth is an "aberration", which will get corrected in the months to come, said World Bank President Jim Yong Kim.   The biggest factor to slowdown was the...
Oct 06, 2017
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With an aim to hasten monetary policy transmission, a Reserve Bank of India (RBI) committee headed by Dr Janak Raj, has recommended linking bank lending rates to one of three external benchmark rates...
Oct 06, 2017
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Responding to a query on whether the government was taking important steps to revive the economy, former RBI Governor C Rangarajan said that “GST is an important step forward”. The government,...
Oct 05, 2017
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The GST refunds would be decided by the GST Council On Friday in New Delhi, said Bihar Dy CM Sushil Modi, who heads the Group of Ministers (GoM) overseeing the GST Network (GSTN).   "The GST ...
Oct 05, 2017
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Under attack for dismal economic growth, Prime Minister Narendra Modi assured people that the situation would improve soon.    While addressing company secretaries at the inauguration of the...
Oct 05, 2017
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The Government of India says decline in growth is a short term phenomena, which will not last for long.   It expects the economy to pick pace in the second quarter of 2017-18, as the issues...
Oct 04, 2017
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The Monetary Policy Committee started its two-day deliberations on Tuesday amid the industry and the government expecting interest rate cut to spur growth, as per a PTI report. Notably, the fourth...
Oct 04, 2017
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The three-day India Economic Summit starting today in Delhi will witness the participation of Indian policymakers, business leaders and the who’s who of the film industry.   More than 650...
Oct 04, 2017
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Small and medium-sized firms with poor financials are in a “vulnerable situation”, according to a RBI report. These firms stand in need of funding sources in order to arrest the next wave of non-...
Oct 03, 2017
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The Government of India will work to mitigate the pains arising out of GST implementation, said Revenue Secretary Hasmukh Adhia in an interview with ET.    As per him, there is scope for...
Oct 03, 2017
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The Centre will soon make some important announcements to boost medium and small scale industries, exports and the textile sector. If government insiders are to be believed, a September 27 Cabinet...
Oct 03, 2017
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Union Finance Minister Arun Jaitley has defended the government's economic management, demonetisation and tax reforms.   He dismissed the "so called" slowdown and told that there were robust...
Sep 29, 2017
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The Finance Ministry and the RBI have reportedly finalised the borrowing calendar for the fiscal year at its Budgeted level. It is worth mentioning here that Subhash Chandra Garg, Secretary,...
Sep 29, 2017
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India has been ranked as the 40th most competitive economy on the World Economic Forum's (WEF's) global competitiveness index.   It has slipped one place from last year's ranking of 39...
Sep 28, 2017
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The large-scale layoffs in IT, realty and many other industries in India paint a dismal picture. What is Adecco's experience in this regard?Marco Valsecchi: We are the largest player in HR solutions...
Sep 28, 2017
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Close on the heels of raids on benami property and large cash deposits during demonetisation, tax officials have now started scrutinising firms that help create black money by providing fake invoices...
Sep 28, 2017
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As against higher than expected July collection of Rs 94,063 crore, the Goods and Services Tax dropped to Rs 90,669 crore for the August month.   “The total revenue of GST paid under different...
Sep 27, 2017
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The Asian Development Bank (ADB) has lowered India’s growth forecast for the year 2017 to 7 per cent from its earlier estimate of 7.4 per cent.   In its Asian Development Outlook 2017, the...
Sep 27, 2017
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The Centre has plans to soon form a ‘regulatory review committee’ to address policy-related roadblocks and other issues coming in the way of private investment, an ET report said. Commerce and...
Sep 27, 2017
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About 74,650 new companies were established in India in the first eight months of this year, says a data by the Ministry of Corporate Affairs.   The maximum number of registrations (11,293)...
Sep 26, 2017
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It has been a harrowing time for some of us since GST rolled out. The small busi­nesses, individual profes­sionals, consultants and self employed, who by virtue of just crossing the exemption...
Sep 26, 2017
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To revive GDP growth, Prime Minister Narendra Modi has reconstituted the UPA-era Economic Advisory Council (EAC) and appointed economist and NITI Aayog member Bibek Debroy as its chairman. The move...
Sep 26, 2017
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The sharp rally in the capital market has created another 700 billionaires in the country in 2017.   According to Hurun’s list of rich people in India, the number of billionaires increased more...
Sep 26, 2017
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Foreign funds have sold stocks worth a net $2.66 billion between August 1 and the third week of September.   The pull out is highest as against other major emerging market that discloses...
Sep 25, 2017
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The country’s economy is likely to rebound in coming quarters, and according to SBI chairperson Arundhati Bhattacharya, Indian banks would need more funds to provide businesses with loans as and when...
Sep 25, 2017
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According to a  Deutche Bank report, the government can use part of foreign exchange (forex) reserves to stimulate economic growth. Forex reserves could be used for funding growth-critical public...
Sep 22, 2017
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The government is mulling over loosening its fiscal deficit target to spend up to Rs 50,000 crore more to boost the slowing economy, according to a report by Reuters. The stimulus package is...
Sep 22, 2017
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The global trade is projected to grow at 3.7 per cent in 2017 as against 1.6 per cent projected last year, said the revised estimates of the World Trade Organisation (WTO).   The international...
Sep 22, 2017
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The GST Council will hold its 22nd meeting on October 6.    Chaired by Union Finance Minister Arun Jaitley, it will deliberate on frequent glitches in the GST Network and also on issues faced...
Sep 20, 2017
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The National Stock Exchange (NSE) has notified that it is extending the deadline for submission of annual returns for fiscal 2016-17 by trading members, a PTI report said. Prior to this, the trading...
Sep 12, 2017
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In order to meet the Basel III capital adequacy norms by March 2019, Indian PSU banks need about $65 billion in additional capital, Fitch Ratings said. The rating agency added that weak capital...
Sep 12, 2017
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The Ministry of Finance will start working for the Union Budget 2018-19 from next week.    It is India's first Budget post-GST and also the last full-fledged Budget for the current NDA...
Sep 11, 2017
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The fall in GDP growth rate to a three-year low of 5.7 per cent in the first quarter of 2016-17 shows that the problem is more structural than transient, says a report.    The dismal growth...
Sep 11, 2017
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If market regulator Sebi has its way, the role of stockbrokers would soon be limited in handling client money. The move should be beneficial to thousands of retail investors, as per a BusinessLine...
Sep 11, 2017
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The Department of Industrial Policy and Promotion (DIPP), under the Ministry of Commerce and Industry, will move a Cabinet note on the credit guarantee fund for the budding entrepreneurs.   The...
Sep 08, 2017
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Former RBI governor Raghuram Rajan has called for the need to focus on infrastructure, power and exports to stimulate GDP growth.   For past few quarters, India has been witnessing slow growth...
Sep 08, 2017
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The deposit franchise of public sector banks should be sold off to private sector banks, says Viral Acharya, deputy governor, Reserve Bank of India (RBI).    As per him, the pace at which state...
Sep 08, 2017
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The government will not create a bad bank.    Rather, it will solve NPA problem on a priority basis, with a focus on creating a long-term framework for strong and stable growth, said Sanjeev...
Sep 07, 2017
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Finance Minister Arun Jaitley is said to be "seriously" mulling over the demand of automobile manufacturers which have raised concerns over rise in the goods and services tax (GST) cess on medium-...
Sep 07, 2017
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As GST-related disruptions begin to settle down, India is likely to clock 6.7 per cent GDP growth this fiscal. India’s economic growth slipped to 5.7 per cent in April-June, underlining the...
Sep 07, 2017
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The Government of India plans to increase the quantum of the three key "social pensions" and has also drafter proposals in this regard.    All, however, depends on the state of revenues post-...
Sep 07, 2017
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With income tax department tightening noose on black money, startups and unlisted subsidiaries of some major Indian companies as well as multinationals find themselves in the spot.    They are...
Sep 07, 2017
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The revenue collection from GST has mounted to Rs 94,700 crore for July month.    About six lakh more businesses filed their returns and paid taxes in last the one week.   Till last week 38...
Sep 07, 2017
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EEPC India wants the government to push for release of at least 90 per cent of goods and services (GST) refunds to exporters immediately after the shipping bills are filed with the authorities, as...
Sep 06, 2017
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