Higher women`s share in labour force to lift India growth rate: World Bank

By Manoj Kumar

NEW DELHI  - India's economy could achieve double-digit growth if New Delhi pushes reforms to increase women's participation in the country's workforce, a World Bank report said on Monday.

Such reforms would boost household earnings and reduce poverty, besides creating better health and education conditions for the women's

SEBI proposes tighter rules for offshore derivatives

MUMBAI  - The Securities and Exchange Board of India's (SEBI) on Monday proposed to tighten rules on offshore derivative instruments (ODIs) by imposing "regulatory fees" and prohibiting the sale of products that track derivatives, unless issued for the purposes of hedging.

If adopted, SEBI's plan would be the latest stringent action against cont

GST will help in evolving India as tax-compliant society: Finance Minister

The Goods and Services Tax, to be rolled out in just over a month, will not only check evasions but also help India evolve as a more tax-compliant society, Finance Minister Arun Jaitley said according to the PTI report.

"It certainly will be a more efficient tax and one of the important changes it will bring about is (that) it will not only check evasions, but also help in evolvi

Common service centres to function as GST Suvidha Providers

 Aiming to facilitate implementation of the Goods and Services Tax (GST) regime across the country, IT Minister Ravi Shankar Prasad on Monday inaugurated a workshop here on common service centres (CSC) as 'GST Suvidha Provider', an official said.

The CSCs will help merchants' registration, filing returns and support them in fulfilling various requirements under G

HP, KPMG introduce `GST Solution` for traders, MSMEs

HP India, in collaboration with KPMG, on Monday launched a secure and affordable invoicing platform called "GST Solution" to help millions of traders and micro, small and medium enterprises (MSMEs) move seamlessly to the new GST regime.

"GST Solution" has the capability to support users to file all their transactions as per the new tax norms in a convenient ma

India seen staying fastest growing major economy in January-March quarter: Reuters poll

By Vivek Mishra

 India remained the fastest growing major economy in the world last quarter, with growth buoyed by an improved performance in manufacturing and services, a Reuters poll of economists found.

Prime Minister Narendra Modi's ban of high-value currency notes last year had a major short-term impact on demand but private and public consumption has recovered

Demonetisation was tough decision but people supported it: Prime Minister

Prime Minister Narendra Modi said the demonetisation drive was a "tough decision" to take in view of the opposition parties' constant efforts to turn people against it, reported PTI.

In the end, however, the people stood by the decision of his government, he told a rally here on the occasion of the BJP-led NDA government's completion of three years in office. "D

Various tax slabs of GST creating anxiety to traders: CAIT

Confederation of All India Traders has said that classification of different items under various tax slabs of GST has created an environment of anxiety and concern among the trading community across the country.

Commenting on the development, a CAIT Official told the media, “Various verticals of retail trade are demanding lower tax on items being dealt by them since they have be

Daily use items to become cheaper under GST: Reports

According to the rates decided by the GST council, aerated drinks and consumer durables will cost more, while daily use items will turn cheaper when the GST is implemented from July.

As per reports, an analysis of the tax rates decided by the all-powerful GST Council for over 1,200 goods and 500 services revealed that daily use items like soap and toothpaste will cost less while fresh

Government starts twitter handle to answer queries on GST

The Union government on Sunday started a new twitter handle to answer industry queries related to the Goods and Services Tax (GST) proposed to be implemented from July 1.

"The Department of Revenue has opened a new Twitter Handle @askGST_GoI to invite queries from all taxpayers on GST," a Finance Ministry statement here said. 

"All taxpayers and

India`s ECB in April up 3 times to $ 1.30 bn: Reports

The Reserve Bank of India (RBI) has said that Indian firms' external commercial borrowings (ECBs) in April went up more than three-fold to USD 1.30 billion, while ECBs were at USD 304.57 million in the same month of 2016.

According to RBI data, the borrowings by Indian companies in April this year included USD 1.27 billion through the automatic route, and USD 39.26 million via the

Finance Ministry relaxes eligibility criteria for RVNL stake sale: Report

The finance ministry has said that it has relaxed the eligibility criteria for RVNL stake sale to encourage more entities participate in the tender process.

As per reports, the Department of Investment and Public Asset Management (DIPAM) has come out with a revised Request for Proposal (RFP) to allow merchant bankers, who have handled at least one issue of Rs 250 crore, to participate

Multiple rates make GST complex: Nomura Report

A Nomura report has said that, the gains from the goods and services tax (GST) in its current form will be far less than initially thought as the structure is fairly complex with multiple tax rates.

The GST as proposed has a multiple rate structure as almost all goods and services have been classified into groups attracting GST rates of 5, 12, 18 and 28 per cent, respectively, said th

Cooperation, terror to figure on Narendra Modi`s Europe tour

 Bilateral cooperation on economic, defence, science and technology, and nuclear fronts, parleys on EU-India Free Trade Agreement, and fight against terror will top Prime Minister Narendra Modi's agenda during his four-nation tour of Europe from Monday.

Modi will visit Germany for the biannual Inter-Governmental Consultations (IGC); Spain on what will be an Indian Prime

Bihar lacks in implementation of rural schemes: MoS Rural Development

As Chief Minister Nitish Kumar met Prime Minister Narendra Modi here, the Rural Development Ministry on Saturday termed Bihar as one of the least performing states in implementing the central government's rural housing project or in creating Open Defecation Free (ODF) districts.

According to the ministry, there isn't a single ODF district in Bihar, and just five houses ha

Modi government generated 813 crore man-days of rural work in 3 years: Tomar

 The government created rural employment opportunities of more than 813 crore man-days during the last three years under MGNREGA, Pradhan Mantri AawasYojna, Grameen (PMAY-G) and Pradhan Mantri Gram Sadak Yojna (PMGSY) schemes, Union Rural Development Minister Narendra Singh Tomar said on Saturday.

"During the last three years while 636.78 crore person days were generate

Publishers urge government to keep books out of GST net

The Federation of Educational Publishers in India (FEPI) on Saturday urged the government to addresses some "inadvertent anomalies" that have crept into the tax structure for books under the proposed GST regime.

Addressing its concerns to Prime Minister Narendra Modi and Finance Minister Arun Jaitley, the FEPI -- an umbrella body of over 2,000 publishers -- said that ac

Pinarayi Vijayan asks Prime Minister to repeal new cattle sale rules, beef sellers do brisk business

 Even as the Centre has introduced stringent rules regarding cattle slaughter, it was business as usual for beef sellers across Kerala on Saturday, with people queuing up to buy one of their favourite food items. Chief Minister Pinarayi Vijayan wrote to Prime Minister Narendra Modi, asking for repeal of the new rules, which he termed an "intrusion into the rights of states".

Poor show by banks, private investors challenge to growth: Arun Jaitley

Union Finance Minister Arun Jaitley on Saturday said that poor performance by private investors and banks still remains a challenge for the Indian economy.

"Despite Foreign Direct Investment (FDI) coming to India in large numbers, things are not working forcefully -- investment in domestic industry is not satisfactory level. The condition is related to banks," Jaitley t

Himachal assembly passes state GST Bill

Himachal Pradesh in a special assembly session on Saturday unanimously approved the state Goods and Services Tax (GST) Bill.

Chief Minister Virbhadra Singh, who also holds a finance portfolio, moved the bill which was supported by the main opposition party - the Bharatiya Janata Party.

The bill was passed on the second day of the house after an hour-long discussion. The hous

Chanda Kochhar's total remuneration up 64% in 2016-17

New Delhi  ICICI Bank CEO Chanda Kochhar's total remuneration went up 64 per cent to Rs 7.85 crore in 2016-17 against Rs 4.80 crore the previous year, owing majorly to a 15 per cent increase in basic salary and Rs 2.20 crore performance bonus.

The country's largest private sector lender in its annual report 2016-17 showed Kochhar received Rs 2.67 crore as

India Inc's overseas borrowings treble to $1.30 bn in Apr

External commercial borrowings by Indian companies in April more than trebled to USD 1.30 billion, a sizable portion of which was taken to start new projects. The ECBs were at USD 304.57 million in April last year.

The borrowings in April this year included USD 1.27 billion through the automatic route and USD 39.26 million from approval route, showed data from Reserve Bank. Besides, t

EPFO may reduce PF contributions to 10%

Trustees of retirement fund body EPFO may approve a proposal tomorrow to reduce the mandatory contributions toward social security schemes run by it to 10 per cent for workers as well as employers. Presently, employees and employers contribute 12 per cent of basic wages each towards Employees Provident Fund Scheme (EPF), Employee Pension Scheme (EPS) and Employee Deposit Linked Insurance Scheme

CBDT clarifies on furnishing SFT & SFT preliminary response

In response to clarification sought on furnishing Statement of Financial Transaction (SFT) & SFT, the ministry of finance on Friday said Section 285BA of the Income-tax Act, 1961 requires furnishing of a Statement of Financial Transaction (SFT) for transactions prescribed under Rule 114E of the Income-tax Rules, 1962.

The due date for filing such SFT in Form 61A is 31st May 2017.

Atal Pension Yojana reaches 53 lakhs subscribers` base: Finance Minister

The ministry of finance on Friday said that subscribers base under the Atal Pension Yojana (APY) has reached about 53 Lakhs. At present 235 Banks and Department of Post are involved with the implementation of the scheme.

Besides the branches of the banks and CBS-enabled offices of India Post, quite a few banks are sourcing subscribers through their internet banking portals in a paperl