Mandatory hallmarking of gold would be a positive in making the gold market more organised. Mandatory hallmarking would come into effect from January 15, 2020, with a one-year transition period for trade to sell existing inventories. Experts also expect more policy measures next year to bring in more transparency in terms of gold as an asset class.
PM Modi on Sunday called upon states to "speed up capital expenditure and infrastructure creation" to spur economic growth.
Blocked working capital worth Rs 1,500 crore, in the almost-defunct job work diamond polishing units, is expected to be released even as diamantaires will issue fresh orders to such units following the GST relief.
The collections stood at Rs 98,202 crore in the month, against Rs 1.02 trillion in July. The figures indicate continuation of economic slow down which was reflected in the gross domestic product (GDP) growth which plummeted to a 25-quarter low of 5 per cent in the first quarter of 2019-20, experts said.
Singapore's single-rate GST structure cannot be India's model. But its practice of early announcement of rates much before their implementation should be emulated by India, says A K Bhattacharya.
Despite various challenges, the past year was a good one, says Bruce Cleaver, chief executive officer of the De Beers Group, the global corporation that has been the leading one in all aspects of the diamond trade for over a century.
Common use products like hair oil, soaps and toothpaste will be charged with a single national sales tax or GST of 18 per cent instead of present 22-24 per cent
'We have promised to ensure reduced tax rates.'
The government on Wednesday decided not to hold special session of Parliament to pass the constitution amendment bill for rolling out Goods and Services Tax and will recommend to the President to prorogue the Monsoon Session.
Accounting for the first Advance Estimates for 2017-18, an additional planned borrowing of Rs 200 billion, the fiscal deficit could come in at 3.35 per cent of GDP.
For the sake of transparency, and to reduce undesirable bond market volatility, clarity on these would be welcome, preferably before the budgets for the next fiscal year get finalised, says Neelkanth Mishra.
Entry of a higher number of technocrats, an appraisal system for civil servants and the benefits of changing the financial year may feature in the PM's fourth speech.
While the November 2017 round of rate revisions saw mainly eating joints unwilling to pass on GST benefits, this time round, sanitary napkin makers, TV manufacturers and even paint companies have said passing on GST benefits is not a feasible exercise.
Industrialists affirm their belief that the adverse effects of demonetisation and the goods and services tax are finally over.
Rajasthan Congress chief Sachin Pilot said the manifesto was prepared after taking opinions through multiple platforms such as social media.
'The real lifting of the economy will happen only if this momentum sustains in the coming months.'
'So far, the government has sanctioned more than Rs 300 billion as GST refunds,' Ansh Bhargava and Aditya Singhania point out.
While the situation Sitharaman finds herself in may not be that good, how does it stack up against her three immediate predecessors Pranab Mukherjee, P Chidambaram and the late Arun Jaitley?
Change will have to begin with Mr Modi, who by all accounts has shown little active interest in macro-economic issues, preferring instead to focus on the effective implementation of projects and programmes, points out T N Ninan.
States' demand for 5 years and Constitutional provision ruled out
"We are willing to speak to any of their leaders," Jaitley was quoted as saying by Bloomberg News.
The possibility of the slowdown affecting more players is greater if the industry doesn't get access to easier finance in the next six to eight months.
Growth is going to be an important factor in contributing high tax revenue and in containing the fiscal deficit.
Experts point out that National Anti-profiteering Authority does not have the power to advise companies on depositing amounts voluntarily.
'One way to deal with these is to address these quickly and have rapid reaction teams in New Delhi, the state capitals and wherever possible.'
The current draft of the Goods and Services Tax could kill any hope of economic revival - and you should blame the Congress if it rolls over and lets it pass, says Mihir S Sharma.
The government's subsidy bill towards oil, fertilisers runs into lakhs of crores of rupees.
Cash flow-based analysis should throw up businesses better able to survive the transient effects of a working capital crunch, says Devangshu Datta.
Modi laid the foundation stone of a four-lane cable-stayed bridge between Okha and Beyt Dwarka.
Banking services, insurance premium and investment management are likely to cost more.
The entire Budget-making exercise will be advanced by 3-4 weeks so as to complete the legislative part of financial business before April 1, the start of a financial year
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.
Jewelers also want import duty on gold to be reduced from the current 10 per cent to at least 5 per cent.
Experts suggest six ways to play stocks that tank suddenly and make money as Sanjay Kumar Singh listens in
'This year's Budget didn't give into populist measures everyone was expecting after demonetisation, so I think that was a positive step.' 'Hopefully the Budget will continue in the way it has been.'
On Thursday, the Business Advisory Committee of the Lok Sabha, which allocates time for the Bills and discussions to be taken up for the forthcoming week, met, but the government strategists didn't ask the members to allocate time for the GST Bills for the next week.
The sector employs around 1 million skilled and unskilled workers directly and indirectly and decline in exports is a major worry for participants in the value chain.
Surat houses more than 650,000 powerlooms. Of this, at least 60 per cent have been shut since a month, a loss of Rs 900 crore, finds out Vinay Umarji.
In her four-page resignation letter addressed to the prime minister, she said, 'In view of the decision of the government of India to go ahead with the Bill on the issue of marketing of agricultural produce without addressing and removing the apprehensions of farmers and decision of my party, Shiromani Akali Dal, not to be a part of anything that goes against the interest of farmers, I find it impossible to continue to perform my duties as a minister in the union council of ministers.'
Broader market outperformed with the S&P BSE Midcap index adding 0.7%, while S&P BSE Smallcap index gained 0.6%.
