India needs to grow at faster pace: Finance Minister

Finance Minister Arun Jaitley has said that India needs to grow at a faster pace while stating that there was public support for the government's reform initiatives despite the difficulties arising from implementing GST. Commenting on the issue, Finance Minister Arun Jaitley told the media, "The obvious challenge to the country is to grow and grow fast. It has to grow at a much higher

RBI sets rupee reference rate at 65.3074 against dollar

The Reserve Bank of India today fixed the reference rate of the rupee at 65.3074 against the US dollar and 76.5990 for the euro. The corresponding rates were 65.2276 and 76.2641 on Friday. According to an RBI statement, the exchange rates for the pound and the yen against the rupee were 85.6311 and 57.99 per 100 yens, respectively, based on reference rates for the dollar and cross-currency quot

DBS sees more policy fine-tuning from Government in weeks ahead

The Development Bank of Singapore (DBS) expects policy fine-tuning from the Indian government -- on the lines of the Goods and Services Tax (GST) -- in coming weeks. According to DBS, incoming high-frequency data are likely to improve. The index of industrial production for August -- due this week -- is poised to extend gains from July's 1.2 per cent, said DBS in its daily economic report t

Seven of 10 most valued cos add Rs 63,444 cr in mcap last week

Seven of the 10 most valued Indian companies together gained Rs 63,443.82 crore in market valuation last week, with RIL leading the pack with the maximum rise. Only HDFC Bank, HDFC and Maruti Suzuki India suffered losses in their market capitalisation (m-cap) for the week ended Friday. Rest seven companies, including TCS, ITC and HUL saw rise.

The m-cap of RIL zoomed Rs 34,639.06 cror

Prime Minister launches intensified mission Indradhanush

Prime Minister Narendra Modi on Sunday launched the Intensified Mission Indradhanush (IMI) which aims to reach each and every child under two years of age and all those pregnant women who have been left uncovered under the routine immunisation programme. "Let no child suffer from any vaccine-preventable disease".

This was stated by Prime Minister Shri Narendra Modi as he lau

NSE discontinues advance collection of service charges from October

Top stock exchange NSE has decided to discontinue advance collection of service charges, including transaction fee related to cash market, equity derivatives as well as currency derivatives segments, from this month. Besides, the exchange would not collect in advance annual charges for applications related to connectivity and co-location.

The move is effective for all new requests fro

RBI unlikely to change interest rates for rest of this fiscal: Report

No change in interest rates is likely over the rest of this fiscal, as the Reserve Bank of India is expected to adopt a 'wait and see' approach due to rising inflation and downside pressure on the rupee, says a report. According to BMI Research, headline consumer price inflation (CPI) is likely to head higher over the coming months, largely owing to rising food and housing prices.

100 days of GST: FMCG cos give thumbs up, say demand picking up

As the GST completes 100 days on Sunday, major FMCG firms, including Dabur and Godrej Consumer, expect a full recovery from the pangs of implementation of the new tax regime by the end of the third quarter with clear signs of demand picking up in the horizon. Most FMCG firms were hit by de-stocking by channel partners ahead of the implementation of the Goods and Services Tax (GST) in July this

GDP to recover in Q2 as fundamentals strong: Ravi Shankar Prasad

Union minister Ravi Shankar Prasad tried to deflect the criticism arising from the steep fall in growth numbers, saying decline in GDP growth in Q1 is temporary and that the economy will bounce back in the second quarter as the macro fundamentals are strong, reported PTI. Since the macro fundamentals of the economy are very strong, growth will definitely recover going forward, Prasad who heads

GST relief for SMEs, exporters; tax rates on 27 items cut

Three months after the rollout of the new indirect tax regime, the GST Council has made sweeping changes to give relief to small and medium businesses on filing and payment of taxes, eased rules for exporters and cut tax rates on more than two dozen items, reported PTI. Businesses with annual turnover of up to Rs 1.5 crore, which constitute 90 per cent of the taxpayer base but pay only 5-6 per

RBI chief: growth important, but not at cost of inflation - newspaper

MUMBAI - Fostering monetary conditions conducive to economic growth were a constant consideration for Indian policymakers, but would not take priority over achieving the central bank's inflation target, Governor Urjit Patel told a newspaper on Monday.

Patel told the Mint newspaper that the economy was recovering, after growth slowed to a three-year low of 5.7 perc

Jaitley to visit US for IMF-World Bank annual meet

Finance Minister Arun Jaitley will leave on an official visit to the US early on Monday to participate in the annual meetings of the World Bank and the International Monetary Fund (IMF), a official statement here said.

On the first leg of his week-long stay in the US, Jaitley will arrive in New York on Monday, where he will hold investor meetings organised by Bank of America and the C

India has to grow faster, running against time: Arun Jaitley

India needs to grow at a faster pace, Finance Minister Arun Jaitley has said, while asserting that there was public support for the government's reform initiatives despite the difficulties arising from implementing GST, for instance.

"The obvious challenge to the country is to grow and grow fast. It has to grow at a much higher rate than we have been growing in recent history

First government to formulate policy for air connectivity to smaller cities: Narendra Modi

Prime Minister Narendra Modi on Saturday said that the present central government is the first since independence that has formulated a National Civil Aviation Policy (NCAP) for providing air connectivity to smaller cities.

Prime Minister Modi talked about the NCAP at a foundation stone laying ceremony held here for development of a new airport.

According to state-run Airpor

IT raids over 50 places in NCR, recovers Rs 7 cr

The Income Tax Department on Saturday raided over 50 premises belonging to a leading auto spare parts manufacturing firm in the National Capital Region and recovered cash worth Rs seven crore, officials said.

An IT official requesting anonymity told IANS that the searches were carried out at offices and properties of the Jai Bharat Maruti Group across Delhi, Harayana's Gurugram an

Government announces GST sops

Facing severe criticism over the implementation of Goods and Services Tax, the government on Friday night announced a slew of measures to ease the concerns of traders, exporters and small business while slashing the rates on 27 items of common consumption, including roti, khakra, namkeens, stationery, man-made yarn -- with most of them brought to five per cent category.

Of daily use i

GST Council reduces tax rates on 27 goods, approves quarterly return filing

Facing severe criticism over the implementation of Goods and Services Tax, the government on Friday announced a slew of measures to ease the concerns of traders, exporters and small business while slashing the rates on 27 items of common consumption, including roti, khakra, namkeens, stationery, man-made yarn -- with most of them brought to five per cent category.

The Goods and S

Suresh Prabhu thanks Narendra Modi , Arun Jaitley for addressing exporters` GST issues

Thanking Prime Minister Narendra Modi and Finance Minister Arun Jaitley for addressing exporters' issues in the GST Council meeting, Commerce Minister Suresh Prabhu on Friday said his ministry would make maximum effort on promoting exports.

"Thx @narendramodi ji @arunjaitley for addressing the exporters issues in #GSTCouncil. We shall together work on promoting exports,"

Discussion on economy good for democracy: M. Venkaiah Naidu

Vice President M. Venkaiah Naidu said on Friday that the ongoing discussion on management of economy was good for democracy and noted that there will be some initial hiccups in the process of any transformation.

Naidu, who inaugurated the International Conference on Technological Advancements in Railway and Metro Projects 2017, said that steps towards economic transformation will have

GST Council discussing quarterly return filing

The Goods and Services Tax (GST) Council is actively discussing relief measures for traders, including quarterly return filing and increasing threshold limit for Composition Scheme, sources said on Friday.

"Council members requested quarterly return filings for businesses with turnover less than Rs 1.5 crore," a Council member said on the sidelines of its ongoing meeting.

GST Council approves Rs 1 cr threshold for Composition Scheme, quarterly return filing: Sources

The Goods and Services Tax (GST) Council on Friday raised the threshold limit for Composition Scheme to Rs 1 crore and allowed quarterly return filing for traders having Rs 1.5 crore turnover to ease the tax filing for small traders.

Rs 1 crore threshold in the Composition Scheme has been approved also by the GST Council members, sources said here on the sidelines of its ongoing meeti

India eases GST rules for small businesses, exporters

NEW DELHI  - Finance Minister Arun Jaitley said on Friday that the rules for small businesses and exporters would be eased under the Goods and Services Tax (GST), a move that could provide relief to thousands of small firms.

Small businesses would be allowed to file tax returns once a quarter instead of monthly returns, Jaitley said following a meeting of the GST

Note ban, GST will take some time to show results: Sunil Kant Munjal

Describing note ban and the implementation of GST as structural changes in the economy, Hero Enterprises Chairman Sunil Kant Munjal today said though there may be short time hiccups, such steps would yield results in the long run. "Structural changes will take six months to two years time to show results.

There may be some short term (hiccups). As I said, next year, if the govern

RBI sets rupee reference rate at 65.2276 against dollar

The Reserve Bank of India today fixed the reference rate of the rupee at 65.2276 against the US dollar and 76.2641 for the euro. The corresponding rates were 65.1758 and 76.5685, yesterday. According to an RBI statement, the exchange rates for the pound and the yen against the rupee were 85.3112 and 57.72 per 100 yens, respectively, based on reference rates for the dollar and cross-currency quo

Gradual recovery on cards, FY`18 GVA growth likely at 6.7%

The Indian economy is expected to see a gradual cyclical recovery with GVA growth averaging 6.7 per cent this fiscal, slightly higher than 6.6 per cent in 2016-17, says a Nomura report. According to the Japanese financial services major, there could be some downside to the RBI's near-term projections. "In our baseline, we expect some of the growth drag caused by demonetisation and GST