Further telecom tariff reduction is on the anvil as department of telecom is in the process of issuing direction to the Telecom Regulatory Authority of India to come out with the revenue-share based access deficit charge.
The rupee has been falling for five straight weeks, taking its losses this quarter to 6.6 per cent, making it the worst performing currencies in Asia during this period.
'More a show that you are doing something in the Budget even if that something never actually comes to pass,' notes Nitin Desai.
He said the country has witnessed a journey from indecisiveness to clarity and decisiveness.
Telecom regulator TRAI has postponed the announcement of reduction in Access Deficit Charge in view of strong opposition from the incumbent operator Bharat Sanchar Nigam Ltd.
Bharat Sanchar Nigam Limited is likely to register a lower profit of upto Rs 8,000 crore (Rs 80 billion) in 2005-06 compared to over Rs 10,000 crore (Rs 100 billion) in the previous year.
The government on Tuesday said the IMF had expressed concern about sustainability of India's fiscal situation and debt position.
The European Union on Thursday said India will surpass 7.0 per cent growth this year and the new United Progressive Alliance government is expected to continue with reforms, including reduction in fiscal deficit.
A continued focus on low inflation will be important to keeping gold imports, IMF said.
The trio, 'twin shocks' of demonetisation and GST, 'twin balance sheet' problem that has been weakening India's banking system and the 'twin deficit' problem will continue to challenge economic management and performance in the year ahead, says Shankar Acharya.
IMF believes it is mostly cyclical, not structural, but because of the financial sector issues, recovery will be not be quick. IMF said, it saw an opportunity with the strong mandate of the new government to reinvigorate the reform agenda to boost inclusive and sustainable growth.
Telecom player Bharti on Thursday said it would pass on the full benefits of the cut in Access Deficit Charge to its subscribers from February 1, when the new regime comes into effect.
There is a scope for 30 per cent reduction in mobile tariffs if the government brings down current taxes on telecom industry, Sunil Mittal, chief managing director, Bharti Enterprises said on Tuesday.
RBI unsure whether to cut rates or not in its next monetary policy.
Softening its stand on reduction in access deficit charge, a levy paid by private operators to BSNL for rural telephony, the department of telecom on Tuesday said the Telecom Regulatory Authority of India must ensure that by doing so the revenues of
Fitch had last upgraded India's sovereign rating from BB+ to BBB- with a stable outlook on August 1, 2006.
RBI has taken a balanced approach in the credit policy considering various developments across the globe and their near term impact.
This is the second hike in excise duty in less than two weeks as the government looks to make use of the slump in oil prices to shore up resources.
'We have the more difficult reforms to do such as the reduction of subsidy, the insurance and pension sector reform, eliminating bureaucratic red tape and implementing Goods and Services Tax'
In the context of RBI's view that the real interest rate, defined as the repo rate less "look forward" CPI, should be around 150-200 basis points.
Expressing serious concerns over the current account deficit touching a record 4.8 per cent in 2012-13, India Inc on Thursday asked the government to take all policy measures, including boosting exports and foreign exchange inflows to bring down CAD.
Sources said much has been done to ease the tax burden of the middle classes in the last five years, and that such a measure affects only a limited segment of people when the focus should be to put money in rural areas. Archis Mohan reports.
In IT, the two-way flow of investments and intellect has been central to the growing linkage, which provides a great opportunity for both nations to improve the quality of life of their citizens, says Raman Roy.
CPI-based inflation on a (year-on-year) basis has come down from 8.59 per cent in April 2014 to 7.80 per cent in August 2014.
Reserve Bank Governor Raghuram Rajan on Tuesday said the government's target of reducing the current account deficit (CAD) to $70 billion or 3.7 per cent of the GDP in 2013-14 is "imminently reachable".
India will have to devise policies to ensure overall growth in FY16.
FM should avoid proposals such as to tax financial transactions and fringe benefits
Thomas Isaac has been in and out of the national news in his role as Kerala's finance minister since 2018 for various path-breaking tax initiatives. But it is 2020 that he has become more prominent, principally in the GST council.
Petrol price was on Friday cut by Rs 2.42 per litre and diesel by Rs 2.25 a litre after an excise duty hike limited the benefit of global crude prices slumping to six-year low.
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The Reserve Bank is scheduled to unveil its first quarter review of the monetary policy on July 30.
Business houses expect rate cut in next RBI policy.
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