Govt announces Rs 50,000 crore export incentive scheme

The move, she added, is aimed at quick and automated refunds of ITC.

Economy News

FM Nirmala Sitharaman says clear signs of revival in industrial production, fixed investment

The government's previous policy measures to stimulate the economy included support for the automobile sector, a reduction in capital gains tax, and additional liquidity support for shadow banks

Economy News

Government should take CMs’ views before changing Finance Commission’s terms of reference, says Manmohan Singh

The commission, which has been mandated to use 2011 census data rather than the one of 1971 for resource allocation, was to submit its report by October 30, 2019.

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FM Nirmala Sitharaman press conference HIGHLIGHTS: Housing, export relief to beat economic slowdown

Finance Minister Nirmala Sitharaman Press Conference highlights: Finance Minister Nirmala Sitharaman today announced more relief measures in the government's continuing efforts to arrest the slowdown

Nirmala Sitharaman Press Conference Live, Press Conference by FM Nirmala Sitharaman News

India jumps 11 spots on Global Economic Freedom index; it’s good news for sluggish economy

The latest gain is promising news for the Indian economy which is currently reeling under slowdown, Indian think-tank Centre for Civil Society said on Friday.

Economy News

Nirmala Sitharaman to announce more relief measures today; boosting realty, other sectors on cards

Continuing the government's efforts to address the ongoing Indian economic slowdown, Finance Minister Nirmala Sitharaman is expected to announce a slew of measures on Saturday to boost the economy.

Finance Minister Nirmala Sitharaman, GDP, growth rate, tax collection target, gst, corporation tax News

Digital payments: NPCI cuts ceiling on merchant fees to banks

The merchant discount rate (MDR) for QR-based card transactions has also been fixed at no more than 0.5%, going up to Rs 150 per transaction.

Digital payments, NCPI, merchants' fees, card transactions, debit card transaction News

Shrimp exports may jump 10 pct this year

India is the largest producer of shrimps in the world and accounts for nearly 6% of the global fish production.

Shrimp, Shrimp exports, Chinese consumption, global fish production, fish production, new year News

Monsoon effect: Over 10 pct fall seen in Kharif rice output

Even as the difference of sowing area under under paddy (y-o-y) narrows every week, it is still 6% lower than 5-year average of 39.63 million hectare.

Monsoon effect, Kharif, Kharif crop, Kharif rice, Kharif rice output, kharif season News

Pharma exports may touch $22 billion in FY20: R Uday Bhaskar, director-general, Pharmexcil

While Indian exports to China are $230 million, the opportunity for exporters is to reduce import dependency on active pharma ingredients (APIs) and intermediates which is about $2.5 billion.

Pharma exports, Pharmexcil, Indian pharmaceutical sector, US market, generic drugs, Chinese market News

Finance Ministry meet with top PSB chiefs on September 19

The banks' purchases of pooled assets of NBFCs and housing finance companies up to Rs 1 lakh crore, as announced in the Budget, will also be monitored.

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India’s GDP growth ‘much weaker’ than expected: IMF

Growth of gross value added (GVA) in manufacturing also nosedived to 0.6% in Q1FY20, compared with a rather strong 12.1% in the year-ago quarter and 3.1% in Q4FY19.

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From bad to worse? Exports contracts 6.1 pct in August, imports collapse

Trade deficit remained as high as $13.45 billion, slightly higher than in July.

Export, imports, domestic manufacturing, Trade deficit, Economy news

GST shortfall: Compensation to states may continue till FY 25

A final decision, of course, will be taken by the GST Council, with which the Commission will converse at the former’s Goa meeting on September 20.

GST revenue, GST, GST Council, term of reference, non-lapsable fund, economy news

RBI panel pitches for federal body like GST Council in agriculture sector

The panel also said state governments having a highly restrictive legal framework should be encouraged to reform their legal framework on the basis of Model Land Leasing Act proposed by NITI Aayog/ La

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Will make own independent judgment on growth projections: Finance Commission

The country's GDP growth fell to an over six-year low of 5 per cent in the first quarter of the fiscal.

Finance Commission chairman NK Singh, economy, indian economy News

GST Council meets next Friday; tax rate cut to hinge on revenue position

According to the sources, the states are aware that it would not be tax prudent to allow GST rate reduction at this stage as the compensation cess fund which is utilised to compensate the states as pe

GST,  GST Council, tax rate cut, revenue position,GST news,  GST Act, GST rate, economy news

‘Liberalisation of 1991 behind current economic slowdown; govt must review policy’

The Rashtriya Swabhimaan Andolan, which started its 'Kashmir Bhi Humara, Kashmiri Bhi Humare' campaign two years ago, also welcomed the decision of the central government to revoke Article 370 provisi

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India’s exports fall over 6 pct in August, imports drop much more; trade deficit narrows

Imports too declined by 13.45 percent to $39.58 billion, narrowing trade deficit to $13.45 billion in August.

trade, import, export, economy News

Surcharge becoming govt’s favourite revenue tool, doubles share in tax kitty; cess also up

The share of surcharge, which was stable at 2.4-2.8 per cent of tax for five years through fiscal years 2013-2018, grew to 6.3% of tax in the last financial year 2018-19.

surcharge, cess, tax, revenue, rbi, reserve bank, rbi bulletin, additional tax News

As uneven monsoon hits Kharif crop output, here’s what govt must do to keep up food supply

As crop production this Kharif season is likely to take a hit due to uneven monsoon, the government must deploy effective measures for the procurement of crops to keep up with the food supply.

Economy News

GST collection low because of slow GDP growth: RBI tells how govt can reap full GST benefit

To reap the full benefits of GST, the RBI has recommended to introduce an invoice matching system, ways to mitigate system design deficiencies and the simplification of GST processes.

gst, gst rate, tax, rbi, rbi data, slow gdp growth News

The French connection: Indian tax authorities may now go at Google, Facebook, Amazon

Google will pay more than $1 billion to settle a fraud probe launched by French tax authorities.

India, France, Google Tax, Equalisation Levy, Facebook, Amazon, Twitter, LinkedIn, Microsoft News

For taking good catch, important to keep eyes on ball, otherwise you blame gravity, maths: Priyanka Gandhi

The slip up was not lost on netizens who quickly took to Twitter to point out that gravity was discovered by Isaac Newton and Einstein is credited for his theory of relativity.

gravity, maths, Priyanka Gandhi, Piyush Goyal, economy news, Albert Einstein, indian economy News

Indo-US Economic Summit: America expresses concern over trade deficit with India

The two-way trade between the US and India stood at USD 142 billion during 2018. During January-July 2019, the bilateral trade has increased 10.5 per cent over the last year period, she added. Nandi a

Indo US, Economic Summit, America, trade deficit, economy news, india us relations, india us news, india us trade News

Inflation may rise further in coming months, but RBI not likely to cut rates; check what it can do

Even as the retail inflation may surge in the coming months, RBI is not expected to cut rates in the upcoming monetary policy review in October, a report said.

 impact,slowdown, retail sector, retail industry, Reliance, Arvind, V Mart, Raymond News

IMF on India’s economic growth: It’s ‘much weaker’ than expected; lists these 3 key concerns

Amid concerns on slowdown, IMF (International Monetary Fund) said that India’s economic growth is ‘much weaker’ than expected owing to a host of factors including uncertainty in the corporate

IMF projects slower growth rate for India News
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