Exporters' body FIEO has said that there is a huge potential to increase bilateral trade between India and Singapore to USD 25 billion by 2019-20. Commenting on the issue, Federation of Indian Export Organisations (FIEO) President Ganesh Gupta told the media, “India's export to Singapore grew by 23 per cent last fiscal, though overall exports expanded by only 4 per cent.
MUMBAI - Viral Acharya, deputy governor of the Reserve Bank of India, called on the government to inject "substantial additional capital" into state-owned lenders, saying the country had to urgently address the weak balance sheets in its banking sector.
Acharya's comments come after data last week showed gross domestic product grew only 5.7 percent
NEW DELHI - India could sell stakes in state-owned companies to fund a bank recapitalisation and revive growth without straying from the path of fiscal consolidation, the former head of the Reserve Bank of India (RBI) said on Thursday.
Stronger, better-managed banks should be given the capital they need to absorb losses as a matter of high priority, Raghuram Raj
The 21st meeting of the Goods and Services Tax (GST) Council, composed of states' finance ministers and headed by Union Finance Minister Arun Jaitley, is slated to be held in Hyderabad on Saturday.
Following the council's previous meeting here last month, Jaitley had appealed to the Indian industry to pass on to customers the benefits of the novel input credit system introduce
The Indian Government has said that around six lakh more businesses have filed returns and paid taxes in last one week, taking maiden revenue collections from GST to about Rs 94,700 crore. As per reports, Finance Minister Arun Jaitley had last week stated that 38.38 lakh businesses had filed their returns and paid Rs 92,283 crore in taxes for the month of July - the first month of implementatio
According to experts India's economic activity has lost momentum in the June quarter and critics blamed GST as well as demonetisation for the slip, but its weak investment demand that is a bigger challenge. According to Kotak Institutional Equities, weak investment demand which accounts for 30 per cent of GDP is a far bigger 'structural' challenge.
As per reports, India
The government is working on ways to remove obstacles and promote startups in the country, Commerce and Industry Minister Suresh Prabhu has said. Addressing startups in a video message, he said that the "Power of the State" will push the startup ecosystem towards greater success. He said that the budding entrepreneurs play an important role in building economy. "World around is c
The Reserve Bank is expected to buy forex reserves at every opportunity to combat global contagion, a Bank of America Merrill Lynch report said. The report said the rupee is expected to reach Rs 66.75/USD level by December. According to BofAML, the RBI has bought about USD 16 billion in the spot market since April. "We continue to expect the RBI to recoup forex reserves to combat global co
The Reserve Bank of India today fixed the reference rate of the rupee at 64.0276 against the US dollar and 76.3593 for the euro. The corresponding rates were 64.2146 and 76.5438, yesterday. According to an RBI statement, the exchange rates for the pound and the yen against the rupee were 83.4664 and 58.70 per 100 yens, respectively, based on reference rates for the dollar and cross-currency quo
India has witnessed rapid increase in inequality beginning 1980s with top one per cent of the population cornering as much as 22 per cent of the national income, says a report as per the PTI. The share of national income accruing to the top 1 per cent income earners is now at its highest level since the creation of the Indian Income tax in 1922, says the paper on 'Indian income inequality,
Adoption of the Ind-AS of accounting standards since FY16 has led to a 6.2 per cent decline in profit for the 500 listed companies but positively impacted their networth, said a study as per the PTI report. The study has analysed 500 listed companies' performance and has found that their profit declined by Rs 13,680 crore over the previous year under the older system of calculation, which i
The NITI Aayog on Wednesday constituted an Expert Task Force led by its Vice Chairman Rajiv Kumar to boost employment in the country through increased exports.
The task force would propose an action plan to create well-paid, formal sector jobs and alleviate underemployment in both goods and services sectors, the planning body said in a statement.
"Given the importance o
E-governance service provider NSDL on Monday said that it has commenced operations of its GST platform -- NSDLgst -- for providing ASP (Application Service Provider) and GSP (GST Suvidha Provider) services.
"This is a comprehensive and secure platform, which enables traders, dealers, businesses, chartered accountants (CAs) and tax consultants to upload invoices, file returns and
NEW DELHI - Directors of Indian shell companies that have not filed tax returns for at least three years have been disqualified from re-appointment or from being appointed to similar roles elsewhere, India's finance ministry said on Wednesday.
The move, part of a crackdown on illegal transactions and tax evasion, comes a day after authorities froze the bank
Chinese President Xi Jinping has said that emerging market economies and developing countries have become the main engine of world economic growth. Commenting on the issue, Chinese President Xi Jinping told the media, "I wish to announce that China will provide USD 500 million for assistance fund for South-South Cooperation.
The money will be used to help fellow developing countr