The policy review observed that the moderation in inflation, excluding food and fuel, that was witnessed in the first quarter of 2017-18 has "by and large, reversed".
Besides urging the Centre for extension of loan moratorium, the hotel and travel industries have also demanded deferment of GST and advance tax payments and waiver of fees for all forthcoming licences and permits.
Experts point out that National Anti-profiteering Authority does not have the power to advise companies on depositing amounts voluntarily.
Room for rise of up to 2 percentage points, move to help meet higher expenditure need in FY17
The BSE 30-share index after a positive opening stretched to 31,772.41, but could not stay there for long buffeted by the selling pressure. It hit a low of 31,562.25 before settling lower by 79.68 points, or 0.25 per cent, at 31,592.03.
'... the government provides adequate cash and kind support for the poorest of the poor for survival... ...conditional cash and skilling support for the economically poor to raise their incomes to adequate levels... ...and make functional arrangements for providing unemployment allowance to the vulnerable poor during disasters like the present one.'
Lupin was the top gainer after the USFDA cleared its Goa facility
India's economy is moving towards a higher growth trajectory and is likely to grow at around 10 per cent in 2021-22, Economic Advisory Council to the Prime Minister (EAC-PM) chairman Bibek Debroy said on Wednesday. "I am confident that we are on a path towards a higher growth trajectory, higher poverty reduction, higher employment, and a prosperous, more developed and better governed India. "I think it is, more or less, agreed that the real rate of growth this year (FY2022) is going to be around 10 per cent," Debroy said at an SBI event. At the beginning of FY2021-22, the forecasts for real growth were in the 8.5-12.5 per cent range, he noted.
'The real lifting of the economy will happen only if this momentum sustains in the coming months.'
Domestic markets are also aided by a rally in the global markets with US market surging to record high and a firming trend at other Asian bourses.
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.
'If the Modi government is successful in extraditing a high-profile fugitive such as Vijay Mallya or Nirav Modi before the 2019 election, the government will be able to link demonetisation to this and turn it into a positive.'
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".
While GST and insolvency laws are among the major achievements of the Modi government, the list of failures include demonetisation, toxic banks, manufacturing hiccups and most prominently bizarre job creation figures. Mihir S Sharma takes a look at the four years of Modi government.
In fact, no other recent Union Budget has held so much significance for the Indian economy as the one to be presented in about six weeks from now, notes A K Bhattacharya.
Kejriwal's centralised way of governance might work in Delhi, but Punjab will call for delegation, observes Sanjeev Nayyar.
Also on the anvil is abolition of distinction between Plan and non-Plan expenditure and replacing it with capital and revenue expenditure
Jaitley, while reviewing the security situation of Jammu and Kashmir at a high level meeting, also asked the forces to deal firmly with the inimical elements but ensure safety of the innocent people, officials said.
Campaigning for the third day in a row in the state that goes to the polls on November 9, he said the election was not being fought by his party, the Bharatiya Janata Party, but the people of the state who were out to "teach" a lesson to the Congress for corruption and poor law and order.
'The AMs are a different beast and reflect the political play within the government.' 'Prime Minister Modi does not need to assuage any interest group to take the final call on any decision that belongs rightfully to the Cabinet,' points out Subhomoy Bhattacharjee.
The Nifty rose 176.50 points, or 1.74 per cent, during the week.
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.
In its essence, GST is a national level system of value added taxation of goods and services, says Shankar Acharya.
Maharashtra Chief Minister Uddhav Thackeray met Prime Minister Narendra Modi on Tuesday and discussed issues related to the Maratha reservation, pending GST compensation and the proposed Metro car shed in Kanjur.
Chief Economic Advisor Arvind Subramanian says that he hopes GDP growth will be at the upper end of the 7-7.5 per cent range.
Its governing allies are not happy on the economy and complain of ignored concerns but find themselves unable to be assertive.
Gujarat and Karnataka have been ranked as the best performers in developing startup ecosystem for budding entrepreneurs, according to the ranking of states and Union territories by the Department for Promotion of Industry and Internal Trade (DPIIT). Among smaller states having population of less than one crore, Meghalaya has been adjudged as the best performer. The rankings are based on the initiatives taken to develop the startup ecosystem for promoting budding entrepreneurs.
'Challenges will come but we will stay the course. No big step can be taken if one is afraid of criticism. We will not flinch from criticism,' says Railways Minister Piyush Goyal.
In another round of economic booster, Sitharaman announced steps to help homebuyers and push exports.
There are indications or signs of the economy picking up -- collection of GST and consumption of electricity, said former RBI governor, C Rangarajan.
Consumption of gold is the highest among middle-income households - those with annual income between Rs 2 lakh and Rs 10 lakh - who account for an average of 56 per cent of gold sales over the last five years, according to a nationwide survey conducted by India Gold Policy Centre (IGPC) at the Indian Institute of Management, Ahmedabad (IIM-A). "Per capita consumption is highest among the rich, but total volume still rests with the middle-income group. "With increasing income, there is an increasing propensity to consume gold, although the share of gold in the portfolio does not increase with the same proportion of income," the survey report says.
Sitharaman said the government understands that the contours and tone of issues for each sector varied from one to the other.
It is worth reconsidering if this fascination with either having a single party majority or Modi's leadership or, indeed, both, is such a great idea for India, says Udit Misra.
Every twist and turn in KMC's civil service career is attributed to serendipity, an aptitude for making desirable discoveries by accident. He plays down his capabilities, which took him to the top of the civil service as the Cabinet Secretary or his misfortune in losing a daughter in her prime and suggests that his career was indeed serendipitous, observes Ambassador T P Sreenivasan.
India needs to spread irrigation and do so against a backdrop of rising water scarcity and depleting groundwater resources
A summary of sports events and sports persons, who made news on Sunday
'I had expected them to fight this election on the issue of development, but they are not doing that.' 'Now they have decided to belittle Gujarat's development.'
Broader market underperformed with the BSE Midcap and the BSE Smallcap indices losing up to 0.2%
A K Bhattacharya lists three reasons why Finance Minister Arun Jaitley will most likely present a full Budget on February 1, 2019.
Senior Congress leader Jairam Ramesh puts it succinctly: "Arun Jaitley was every non-BJP person's favourite BJP-ite."
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