Although the markets could see a knee-jerk reaction, they rule out a sharp fall.
"This rationalisation is 3-4 month exercise," he said, adding that the GST Council decided on the rate cut on the recommendation of a Fitment Committee.
The fiscal gains from implementing the GST and demonetisation, while almost certain to occur, will probably take time to be fully realised
Floats discussion paper for stakeholders' feedback with a deadline of January 28.
Prime Minister Narendra Modi was elected last year on hopes he would revive a languishing economy.
The win in UP is especially significant because UP assembly members carry the maximum value of votes in a Presidential election, given the fact that the state is India's most populous.
Referring to long-pending insurance bill, he said "we are on the verge" of opening the sector a little more.
A GST roll-out by April 1 looks difficult, giving the companies some succour.
The winter session of Parliament is set to be stormy with Opposition parties closing ranks to target the government on issues including 'intolerance' even as the ruling dispensation expressed its readiness to discuss all issues.
This means taxpayers might continue to enjoy exemption on maturity of their investments
Finance Minister Nirmala Sitharaman will present her second Budget a little more than a month from now. Like any other FM, Sitharaman will depend on her team of bureaucrats and advisors to frame and present the Budget.
Simple takeaways from the Union Budget 2015-16 and how it impacts your life
India Inc says way forward is for Modi govt to work with other political parties to get bills passed.
GST will also make our exports more competitive and also provide a level playing field to domestic industry to compete with imports, the President said.
Macro and micro environment are becoming more challenging.
The Centre had set up a Commission under former Reserve Bank of India Governor Bimal Jalan to suggest steps to rationalise subsidy and help the government in effectively bringing down the fiscal deficit.
Some of the players in the GST race are Payworld, Dell, Tally Solutions
The e-invoicing system will be rolled out in a phased manner from January 1 on a voluntary and trial basis, beginning with firms with a turnover of Rs 500 crore, while businesses with a turnover of Rs 100 crore or more will be required to do it from February 1.
States' demand of compensation from Centre for loss of tax revenue not on agenda.
BJD MP Baijayant Jay Panda has written that 'reforms must reduce the Rajya Sabha's power to block the popular mandate'
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".
Asked about the Congress's opposition to the GST Bill, Santosh Kumar Gangwar said no party opposes GST outside Parliament.
The Empowered Committee of State Finance Ministers got its new chairman on Monday in Jammu and Kashmir's Abdul Rahim Rather.
'Life will not improve overnight; it will happen in a gradual manner.'
Delivering the key mote address at the Citi's Investor Summit, Jaitley hoped that as a professional organisation the Reserve Bank will take 'the best decision'.
The introduction of GST would constitute India's biggest reform.
General Budget is a terminology earlier used to differentiate between the Union Budget with the Railway Budget. Full-fledged budgets are titled "Union Budget", while interim Budgets are titled just that.
'Swachh Bharat Cess imposed last year should be made broad-based.' 'Budget should be predominantly economy/ business-oriented and problem-solving rather than political consideration-based.'
ICICI Bank was the top gainer after stable rating for its senior unsecured bonds by S&P Global Ratings.
With organisations like the Bharatiya Mazdoor Sangh, which is a front of the Rashtriya Swayamsevak Sangh, telling Finance Minister Nirmala Sitharaman they want OPS back, the government is in a bind, report Shiva Rajora and Aditi Phadnis.
Given the many policy areas where the Centre and the states have not been seeing eye to eye in the last few years, it is time the Modi government convenes a meeting of the Inter-State Council, recommends A K Bhattacharya.
After the 2019 election, one thing is sure: GST will see a number of changes, explains Indivjal Dhasmana.
Structural changes to government finances could be focus of the Union Budget, says Mihir S Sharma.
This is good news for the central government at a time when crude oil prices are rising.
Jaitley's concerns are unlikely to cut much ice with the Congress.
RBI governor Raghuram Rajan is likely to cut rates in next monetary policy.
Apart from IT and pharma, the lead spenders in travel are construction, automobile and metals and mining companies and together these sectors accounted for 82 per cent of business travel spend in India in 2015, up from 78 per cent in 2013.
The 47-year-old senior cabinet minister was widely expected to become the third female British Prime Minister after 170,000 online and postal votes cast by Tory members, ending Sunak's historic run as the first member of Parliament of Indian heritage to compete for the top job at 10 Downing Street.
Govt can advance the dates of the convening of the monsoon session of Parliament to early July
Broader market outperformed with the S&P BSE Midcap index adding 0.7%, while S&P BSE Smallcap index gained 0.6%.
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