Slowdown hits; manufacturing growth at 6-month low, show PMI data

As per the report, factory orders and production expanded at the slowest pace since last September while job creation eased to an eight-month low in March.

Economy News

Supreme Court blow to IBC: RBI’s 12 Feb circular declared invalid; power cos, banks cheer

In a potential big setback to the much celebrated IBC, the Supreme Court has declared the RBI’s 12 February circular as unconstitutional.

Economy News

Outsiders vs Insiders in the Northeast

Political parties are bent on playing with the fear of the outsider for a few votes little knowing its disastrous effects on the nation. Such a vacuum will create space for non state players.

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Modi turns to RBI to spur economic growth ahead of Lok Sabha polls

An RBI panel is also considering a government request to transfer more of the central bank’s excess capital to the state. An increase would help plug a widening budget deficit, allowing Prime Minist

Economy News

Poll: RBI to cut rates again before vote; BJP victory best for economy

Fifty-three percent of economists who answered an additional question said they were confident about the accuracy of recent official Indian economic data releases, but the remaining 47 percent said th

Economy News

GST collection hits Rs 1.06L crore in March, 2018-19 mopup falls short by Rs 60,000 crore

Achieving this steep target would call for a substantial increase in the tax base by plugging the existing leakages, as room for the increase in tax rate seems limited,” Pratik Jain, partner and lea

Economy News

With tax receipts falling short of target, Govt’s FY19 spending seen at 97.5% of RE

Under the scheme, a sum of `6,000 per year would be disbursed in three equal instalments to small and marginal farmers having a cultivable land of 5 acre or less.

Economy News

RBI cannot ignore unemployment, must cut interest rates at monetary policy review

The RBI’s Monetary Policy Committee will soon roll out its bi-monthly monetary policy, which will determine the economic outlook of the country for the next two months.

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Govt saving air passengers from surging airfares: Arun Jaitley responds to Congress charge on Jet Airways

Finance Minister Arun Jaitley rubbished Congress allegations that the government is using public money to bail out the financially beleaguered airline Jet Airways by converting Rs 8,500 of debt into e

Jet Airways pilots defer to April 15 its decision not to fly News

Coal, crude oil, natural gas and other core sectors’ growth slows down to 2.1% in February

Eight infrastructure sectors -- coal, crude oil, natural gas, refinery products, fertilisers, steel, cement and electricity -- had expanded by 5.4 per cent in February 2018.

Economy News

RBI to unveil this fiscal’s first bi-monthly policy decision on Thursday

The RBI's Monetary Policy Committee (MPC) will meet from April 2 to 4 for the first bi-monthly policy statement for 2019-20, the central bank said in a release Monday. "The resolution of the MPC will

RBI may go for 25 bps rate cut on April 4 News

GST collection back above Rs 1 lakh crore in March; hits new record high as return filings increase

GST collections scaled record high of Rs 1.06 lakh crore in March, up from Rs 97,247 crore in the previous month, as compliance improved amid increased number of returns filed.

Roll-out of new, simplified GST return forms deferred News

India levies anti-dumping duty on solar cell component from four nations

In its probe, it had concluded that imposition of the duty is required to offset dumping and injury caused by dumped imports from China, Malaysia, Saudi Arabia, and Thailand.

Economy News

UK businesses see Brexit as major obstacle to success: Study

Brexit may prove to be a major obstacle to over a million small and medium-sized enterprises, say scientists who conducted one of the largest surveys of its kind in the UK.

UK businesses see Brexit as major obstacle to success News

Fasal Bima Yojana: Is crop insurance working? Here’s what data tells us

Also, with state governments shedding their initial ambivalence towards the scheme, premium inflows have become more robust and prompt.

Economy News

PM-Kisan: Only 40 per cent of planned Rs 20,000 crore spent

As FE had reported earlier, the Centre’s direct tax receipts would likely fall short of the revised estimate (RE) by around Rs 50,000 crore and if other Budget numbers hold true

Economy News

What firms are doing to bag lucrative gas distribution contracts

These numbers compare to the average of 50 CNG stations (total 4,346) across the 86 GAs during the ninth round.

Economy News

Demonetisation impact: Over 14 lakh suspicious transactions generated, says FIU report

The report also talked about counterfeit currency reports (CCRs) that went drastically down from 7,33,508 in 2016-17 (the year of the notes ban) to 3,53,795 in 2017-18.

Economy News

India does have huge potential, real question is speed of growth: Indra Nooyi

Indra Nooyi was the guest speaker at the 'New India Lecture' series, organised by the Consulate under the aegis of Consul General Sandeep Chakravorty and in partnership with the US-India Strategic Par

Indra Nooyi, PepsiCo News

Roll-out of new, simplified GST return forms deferred

Small taxpayers, with turnover of up to Rs 5 crore in the last financial year, can file quarterly return with monthly payment of taxes on self-declaration basis.

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Missed deadline: Why govt’s round-the-clock electricity plan is still a pipe dream

So far less than 10 states providing continuous electricity; experts blame poor fiscal health of discoms

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Low inflation under Modi helping poor, says CEA Subramanian; here’s what he says on RBI’s monetary policy

Inflation has remained well under control during the Modi government's tenure, providing relief to the middle class and the poor, said Chief Economic Advisor Krishnamurthy Subramanian.

Economy News

GST refund on exports: Rules, eligibility, conditions, requirements, process; all you need to know

Exporters are allowed to claim an input tax credit on all inputs used to produce goods or render the services without charging GST to their customers. However, these benefits are available subject to

Economy News

Income tax, GST offices to remain open on March 30, 31 to facilitate year-end collection

Tax offices, for both income tax and GST, will remain open on Saturday and Sunday as the departments race against time to meet the revenue collection targets.

CBDT, Tax Filers, Dropped Filers, Stopped Filers News

US lawmaker urges USTR to delay GSP decision till Indian elections

A top Republican lawmaker has urged the US trade agency to put on hold its decision to terminate preferential trade status granted to India till the general elections in the country are over.

US lawmaker urges USTR to delay GSP decision till Indian elections News

CEA Subramanian counters Raghuram Rajan on GDP data: Controversy baseless; growth best since liberalisation

Responding to the doubts raised by former RBI Governor Raghuram Rajan, Chief Economic Advisor (CEA), Krishnamurthy Subramanian said that the ongoing controversy over growth data is baseless.

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India again extends deadline to impose high import duties on 29 US products till May 2

A notification of the finance ministry said that implementation of increased customs duty on specified imports originating in the US has been postponed from April 1, 2019 to May 2, this year.

Economy News
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