Government collects was Rs 95,131 cr under GST in October: Reports

Bihar Deputy Chief Minister Sushil Modi has said that the revenue collected under the Goods and Services Tax (GST) in October was Rs 95,131 crore and average revenue shortfall of states has come down to 17.6 per cent. As per reports, the government had collected Rs 93,141 crore revenue under the GST in September. Modi, who heads the Group of Ministers (GoM) on GST Network, said the average reve

IRP nod essential for recovering money from defaulter: NCLAT

The NCLAT has said that financial creditors cannot recover any amount from a defaulter's bank account without the nod of the Interim Resolution Professional (IRP) during the corporate insolvency resolution process. The National Company Law Appellate Tribunal (NCLAT) further said that once moratorium is declared, financial institutions have to act "on the instructions of IRP" with

NSE arm launches SME Index to track firms on Emerge platform

India Index Services & Products (IISL), an NSE Group entity, has launched a new Nifty Index to measure the performance of small and medium enterprises listed on the dedicated NSE platform for small companies. The Nifty SME Emerge Index reflects the performance of a portfolio of eligible companies listed on the Emerge. The index represents about 62 per cent of the full market capitalisation

Centre should waive agricultural loans in all states: Yogendra Yadav

Swaraj India leader Yogendra Yadav on Monday demanded that the central government should waive loans of all farmers across states, addressing a farmers' rally in the national capital.

"We have two demands, one that the remunerative prices should be production cost plus 50 per cent, which was recommended by the Swaminathan Commission and promised by Mr. Modi," Yadav said.

Hiring prospects to remain subdued in short term: ASSOCHAM

With corporate India placing most energies on rationalising costs, including the wage costs , and trying to deleverage its balance sheet, the hiring outlook in the private sector , is expected to stay muted till beginning of fiscal 2018-19, an ASSOCHAM assessment , based on its feedback from members has indicated. "The focus, right now is how to deleverage, consolidate, exit from non-core

India`s rating upgrade reaffirmation of reform measures: FICCI

Pankaj R Patel, FICCI, president, has said that Moody’s upgrade of India’s rating is a reaffirmation of the various reform measures undertaken by the government over the last three to four years and we welcome this move. “The ratings upgrade along with the recently reported improvement in India’s ease of doing business ranking underline the fact that we are moving in the

Indian bond yields fall after RBI cancels open market sale of debt

By Suvashree Choudhury and Swati Bhat

MUMBAI  - Indian bond yields fell for the second straight day on Monday as traders took comfort from the central bank's unexpected decision to cancel a scheduled sale of bonds via open market operation (OMO) post market hours on Friday.

The bond market, which got a shot in the arm on Friday after Moody's upg

India moves up one notch to 126 in per capita GDP terms, says IMF data

India has moved up one position to 126th in terms of GDP per capita of countries, still ranked lower than all its BRICS peers, while Qatar remains the world's richest on this parameter, as per IMF data. The data, which forms part of the latest World Economic Outlook report of the International Monetary Fund, ranks over 200 countries in terms of per capita GDP based on purchasing power parit

Retail inflation expected to cross 4% mark in November: Experts

Retail inflation, which touched a seven-month high in October, is expected to rise further and cross the 4 per cent mark this month, driven by a rise in vegetable and oil prices, experts say. According to global financial services majors like Nomura, BofAML and Morgan Stanley, price pressures are likely to build further in the coming months following a cyclical recovery in the economy and rise

Corporate hiring to be slow till fiscal-end : Assocham

 Despite Moody's sovereign rating upgrade, hiring by the private sector is expected to stay muted till the end of the current fiscal as corporate India is busy trimming balance sheets and rationalising costs, according to industry chamber Assocham.

Based on a survey of association members, the Assocham report on Sunday comes in the context of tepid job growth in the economy w

Odisha seeks crop damage report due to rain

 The Odisha government on Saturday asked all the district collectors to submit by November 25 reports on crop damage suffered due to untimely rain.

The government is likely to announce a fresh package for affected farmers after getting information from the district collectors.

"You are aware that farmers have been affected by drought and pest attack durin

Don't foresee more changes to GST rates in next few months: Hasmukh Adhia

Finance Secretary Hasmukh Adhia on Saturday said the recent reduction in GST rates on mass consumer goods items has resolved nearly 90 per cent of problems and discontentment related to the indirect tax regime.

According to Adhia, he does not foresees any further changes in GST rate structure in the near future after the latest changes which were incorporated after the last GST C

GES to create congenial ecosystem for startups: Amitabh Kant

NITI Aayog CEO Amitabh Kant on Saturday said the Global Entrepreneurship Summit (GES), which is being co-hosted by the United States and India for the first time, is expected to develop a congenial ecosystem for the growth of startups in the country.

"The expectation from this Summit is to create an ecosystem for startups and support them. It is a step in that direction. It

Future growth will help cut Indian government debt: Moody`s

India's sovereign credit rating upgrade by Moody's has been based on the belief that the recent economic reform measures will bolster the country's growth potential leading to a decline in government debt, the US ratings agency said on Friday.

Earlier in the day, signalling a boost to investor sentiments, Moody's Investor Service upgraded India's sovereign rating t

Run agriculture like business to transform economy: Bill Gates

Microsoft Co-founder and Co-Chair of Bill and Melinda Gates Foundation, Bill Gates, on Friday called for running the agriculture sector like business, saying this will be a key element in the recipe for India's economic transformation.

He underlined the need for a shift in agriculture from the one based merely on subsistence to the one that runs like a business.

Gates wa

Building safer roads at outset effective way to tackle fatal crashes: World Bank

Building safer roads at the outset, instead of the traditional approach of removing road defects after fatal crashes have occurred, is a more cost-effective and comprehensive approach to reducing number of road accidents, a senior World Bank official said on Friday.

"The World bank is concerned about increasing road deaths world over despite most countries, including India, being

RBI cancels open market bond sale in surprise move

BENGALURU  - The Reserve Bank of India (RBI), in a rare move, cancelled a bond sale via open market operation (OMO) worth 100 billion rupees ($1.54 billion) that was scheduled for Nov. 23, citing "evolving liquidity conditions".

The OMO sale of government securities was withdrawn due to "recent market developments and based on a fresh review of the

Government`s good work led to Moody`s upgradation: India Inc

Echoing the government's views, Indian industry said on Friday Moody's sovereign rating upgrade was in sync with the various government reform measures over the last three to four years.

"Moody's upgrade of India's rating is a reaffirmation of the various reform measures undertaken by the government over the last three to four years and we welcome this move",

Moody`s ratings upgrade after 13 years extremely encouraging: Arun Jaitley

 Finance Minister Arun Jaitley said on Friday that US credit rating agency Moody's upgrading India's sovereign rating was an extremely encouraging international recognition of the structural reforms undertaken by the government including demonetisation, Goods and Services Tax (GST) and recapitalization of public sector banks.

"It is a belated recognition of all

Inflation may ease by December: C Rangarajan

Former RBI Governor C Rangarajan said the inflation, which rose to 3.58 per cent in October, may ease by December and remain below the 4 per cent level by the end of the current fiscal, reported PTI. Rangarajan said he thinks this is the end of the season when prices rise as far as food articles are concerned. There will be a seasonal decline in food prices by next month, he said. "Therefo

Cabinet nod for India-Belarus pact to boost ties in Science and Tech sector

The Union Cabinet on Thursday approved the agreement between the Indian National Science Academy (INSA) and the National Academy of Sciences of Belarus (NASB) on Scientific and Technological Cooperation for mutual benefit in the areas of science, technology, agriculture, etc. The agreement was exchanged on 12th September, 2017 at New Delhi during the visit of Belarus President H.E. Alexander Lu

Moody`s gives Modi a boost by raising India`s sovereign rating

MUMBAI/BENGALURU  - Moody's Investors Service upgraded India's sovereign credit rating for the first time in nearly 14 years on Friday, saying continued progress on economic and institutional reforms would boost the country's growth potential.

The agency said it was lifting India's rating to Baa2 from Baa3 and changed its rating outlook to stable

Stress on asset resolution, recapitalisation to improve banks` balance sheets

Reserve Bank of India (RBI) Deputy Governor Viral V. Acharya on Thursday said asset resolution and bank recapitalisation are expected to strengthen bank balance sheets and improve their "ability and willingness" to lend at rates in consonance with policy rates.

According to Acharya, the RBI has reduced its policy repo rate by 50 basis points since October 2016 and by a

Modi still popular among masses, says Pew survey

ver three years into office, Prime Minister Narendra Modis popularity is still at par with what it was in 2015, and 70 per cent Indians are "satisfied" with the way things are going in the country, a Pew survey of 2,464 respondents shows.

Union Law Minister Ravi Shankar Prasad on Thursday drew media's attention towards the "detailed" survey by the US-based