The premium on insurance policies will get costlier by 3 per cent to 7 per cent, depending upon the rate fixed by the GST Council from April 1, 2017, says Harjot Singh Narula.
'The domestic scenario is much better than earlier, demonstrated in the March quarter earnings.'
The raging row over nationalism was at the centre of Bharatiya Janata Party chief Amit Shah's inaugural address at the party's national executive meeting on Saturday as he asserted that it will not tolerate criticism against the country and that freedom of expression cannot be a plea for shouting anti-national slogans.
The Maharashtra CM said he doesn't think the Centre has a plan on settlement of Hindu immigrant from other countries.
Catch all the latest action from the Lok Sabha and Rajya Sabha here.
A ramp-up in COVID-19 vaccination, healthy advance estimates of kharif (summer) crop and faster government spending were the factors which led to the revision, the agency said in a statement. It can be noted that after the 7.3 per cent contraction in 2020-21, there were expectations of a higher growth number in 2021-22.
The economy is gaining traction with gradual pick up in manufacturing activity and moderation in contraction of services, spurred by comfortable liquidity conditions, an RBI article on Tuesday said. Observing that the retreat of the second wave of coronavirus pandemic has been slow, the RBI in an article on the 'State of Economy' said, the aggregate demand conditions are buoyed by the release of pent-up demand post unlock, while the supply situation is improving with the monsoon catching up to its normal levels and sowing activity gaining pace. "Reaffirming the traction that the economy is gaining, the manufacturing activity is gradually turning around, while contraction in services has moderated.
Business activity has fallen by a fourth of the pre-COVID levels due to lockdowns imposed by states to contain the spread of the second wave of COVID-19, Japanese brokerage Nomura said on Tuesday. However, it said the falling activity levels will have a muted economic impact and maintained its growth estimates for the year, saying the lockdowns present "downside risks". As of April 25, the Nomura India Business Resumption Index (NIBRI) registered its steepest weekly fall in over a year of 8.5 percentage points to 75.9, which is 24 percentage points below pre-pandemic normal, the brokerage said in a statement.
GST stabilisation, DTC implementation and banking reforms are crucial for sustaining high growth for a long period, says Rashesh Shah.
Sibal said the BJP always tries to gain a foothold in states where its presence is limited and afterwards "dumps" its allies.
WGC expects demand to revive in H2 on surplus monsoon rains
Some of the policy measures announced are expected to go a long way in removing current challenges on financing faced by businesses and also increasing economic activity, especially in areas of construction and manufacturing.
The credibility of India in the eyes of foreign investors has also relatively gone up, with China's blunders in this crisis.
The S&P BSE Sensex shed 119 points to close at 27,977 and the Nifty50 dropped 45 points to finish at 8,591.
This weakness is likely to continue in the near-term.
In a resolution passed at its national assembly in Haridwar, the SJM said the Modi government's proposed strategic divestment of PSEs was an "imprudent business decision" and "against national interest".
A large percentage of total tourism business activity of India, which is estimated at $28 billion+ in forex and upwards of Rs 2 lakh crore in domestic tourism activity will be at economic risk through the year.
Markets crashed due to domestic worries; bluechip stocks tanked too.
For his first Budget in July 2014, Jaitley inherited a fiscal deficit target of 4.1 per cent of GDP. From 4.1 per cent, the fiscal deficit came down to 3.4 per cent by 2018-19, with two slippages from the budgeted targets, in 2017-18 and 2018-19, the former due to introduction of the GST, says Arup Roychoudhury.
The proceedings of the House were almost washed out as it could not take up any legislative business.
India is not so worried about meeting fiscal deficit target.
The output of eight core sectors grew by 16.8 per cent in May, mainly due to a low base effect and uptick in production of natural gas, refinery products, steel, cement and electricity, official data released on Wednesday showed. The eight infrastructure sectors of coal, crude oil, natural gas, refinery products, fertilisers, steel, cement and electricity had contracted by 21.4 per cent in May 2020 due to the lockdown restrictions imposed to control the spread of the COVID-19 infections. In March this year, these key sectors had recorded a growth of 11.4 per cent, and 60.9 per cent in April.
Addressing a meeting of AICC general secretaries and state-incharges which she presided over, Gandhi also alleged that the country was being ruled by a government which was "systematically" handing over the rights of citizens to a handful of crony capitalists.
The Congress on Monday described as a "blot on democracy" the suspension of its four MPs for the rest of the monsoon session for disrupting proceedings in the Lok Sabha, alleging the government was trying to "intimidate" the party but it would not be cowed down.
The government last year introduced the Insolvency and Bankruptcy Code.
We are all 'Chasing the Monsoon', notes Ajit Balakishnan.
Mamata Banerjee said availability of land won't be a problem in Bengal as the state government has a land bank.
The session, which will continue till August 11, is likely to discuss issues like lynching incidents and vigilantism, the Kashmir situation and the border stand-off with China.
Govt is keen to push reforms in the insurance sector.
'I don't know how long the small-scale handmade sector can survive,' a shoemaker from Hisar tells Geetanjali Krishna.
A Dubai trip plus Apple iPhone 12 is cheaper than buying the phone in India. Various models of the iPhone 12 Pro and Max are cheaper in Dubai by up to Rs 35,000 owing to higher GST, Customs duty in India.
The finance minister is likely to announce the government's vision for a tax-friendly regime by raising the I-T exemption limit from the current Rs 250,000 per annum.
The Sensex and the Nifty witnessed biggest one day loss in percentage terms since June 24
Cheque payments will be safer; the limit for contactless card transactions hiked.
The S&P BSE Sensex surged 217 points to end at 25,736.
There are a few factors that can spoil the party
With Parliament rocked by constant disruptions, Prime Minister Narendra Modi on Tuesday hit out at the Congress, accusing it of making a "mockery of democracy" and deciding to "destroy" the country as it cannot reconcile to the Lok Sabha poll defeat.
The stage is set for a showdown between the government and the Opposition over the GST or Goods and Services Tax Bill in the monsoon session of Parliament, which begins on Monday.
He also lashed out at the Congress for its opposition to the GST and for dubbing it as 'Gabbar Singh Tax'.
RBI Governor Raghuram Rajan on Friday sounded a word of caution about the new government's 'Make in India' campaign that assumes an export-led growth path of China and said instead it should be 'Make for India' that will produce for the internal market.
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