An official panel on Tuesday ruled out any increase in value added tax (VAT) rates as part of a package to compensate states on account of revenue loss due to a one per cent cut in Central Sales Tax that was to have happened in the beginning of this fiscal.
Duvvuri Subbarao recounts how his tensions with P Chidambaram and Pranab Mukherjee, then finance ministers, over monetary policy spilled over into other issues in the central bank in this excerpt from Who Moved My Interest Rate?, his memoir of his term as Reserve Bank of India governor.
Onion supply in Nashik low but is expected to normalise in a couple of days
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.
'The assumed linear correlation between forced lower yields, higher bank borrowing from the RBI, higher lending, and higher growth involves leaps of faith, each a step on the quicksand of false beliefs,' warns Debashis Basu.
'The TDP walking out of the NDA is a victory for the YSRCP.' 'The YSRCP wanted it to happen so that it would help them in coming elections.'
Buoyed by tremendous consumer response and with banking on its huge roll-out plan, Anil Dhirubhai Ambani Group's brokerage and distribution arm Reliance Money expects to break-even by the end of the current fiscal.
'We are moving away from the Modi promise of less government,' says T N Ninan.
A spiralling inflation is likely to force the Reserve Bank of India to up the Cash Reserve Ratio by 0.75 per cent in FY 09, along with a 1 per cent hike in repo and reverse repo rates, global financial services major, StanChart said.
As per the recommendations of the 2nd National Commission on Labour, the ministry is codifying existing 44 central labour laws into four codes by simplifying, amalgamating and rationalising the relevant provisions of the legislations.
'For the RBI, it is also strategic to allow the rupee to over-depreciate, then come and buy the rupee, and benefit from its appreciation. Speculators who have driven the rupee too low then make losses,' says Ashima Goyal.
34 farmers and farm labourers committed suicide on an average every day in 2014, reflecting the deepening agrarian distress in several parts of the country.
'Mere fundamentals will not do the trick,' cautions former commerce secretary Rahul Khullar.
Bombay Dyeing is betting on creating a range of unique, customised textile products, a route that is largely unexplored by the home textiles players although several industry reports and consumer behavior studies have talked about the potential for personalisation.
the GDP estimates incorporate new source data and modified compilation techniques
FM should avoid proposals such as to tax financial transactions and fringe benefits
Though the outcome of the general elections will offer a short-term boost to the market, a sustained rally will be determined by the economic data, according to a JP Morgan Asset Management report.
The G20 has cited India among other countries for launch of major investment initiatives and for having a sustainable growth.
Those who like to draw comfort from the fact that UP is the country's third-largest state in terms of the size of its economy should also note that its growth rate is one of the lowest, its per capita income is almost half of the national average and its poverty rate at 30 per cent places it at the twentieth rank among all the states, says A K Bhattacharya.
Of the 20 deaths reported in the last 24 hours, eight were from Maharashtra, three each from Gujarat and Madhya Pradesh, two from Jammu and Kashmir and one each from Punjab, Uttar Pradesh, Karnataka and Tamil Nadu.
Refusing to link his seeking voluntary retirement, a year before his superannuation, to his transfer to the relatively low profile power ministry, he said that he had conveyed his decision to the Prime Minister's Office on July 18.
this move by the government is likely to iron out the current challenges for the NBFCs and in turn help the real estate sector.
Highest-ever mobilisation in first half of any fiscal year; bankers expect the trend to continue, given strong pipeline
Loans, cash credits, and overdrafts at the end of December 22, 2017, stood at Rs 81,287.32 billion, against Rs 73,340 billion in the year-ago period.
