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 Indian Economy |
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Top dollars: India retains top position in remittances as expats send home $80 billion
India will retain its position as the world’s top recipient of remittances this year with its diaspora sending a whopping USD 80 billion back home, the World Bank said in a report Saturday. India is followed by China (USD 67 billion), Mexico and the Philippines (USD 34 billion each) and Egypt (USD 2...
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Inflation may have softened in November to 16-month low: Reuters Poll
Indian inflation is likely to have cooled to a 16-month low in November, according to a Reuters poll, as food and fuel prices fell, supporting the Reserve Bank of India’s decision to keep interest rates on hold at a policy meeting last week. The poll of 40 economists predicted retail inflation sank ...
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India should brace itself for slowdown for some time: Arvind Subramanian
Former Chief Economic Adviser Arvind Subramanian on Sunday warned the Indian economy was in for a slowdown for some time as agriculture and financial system were under stress. Speaking at the release of his book, Of Counsel: The Challenges of the Modi-Jaitley Economy, he said both demonetisation and...
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Disinvestment drive gathering pace: Receipts nearing FY19 target; to hit Rs 65,000 crore by Jan-end
If the transactions already initiated and the plans laid out materialise, the Centre’s disinvestment revenue by January-end may touch Rs 65,000 crore, at a striking distance from the FY19 target of Rs 80,000 crore.So far this year, the Centre has garnered about Rs 32,998 crore in disinvestment recei...
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| Global Economy |
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Bumpy ride: Bruised Euro-zone economy stumbles on after 2018 beating
The euro-zone economy is down but not out after a year battered by freezing weather, trade wars, budget disputes and car trouble. The exuberance of 2017 — when the bloc enjoyed a brief “euroboom” — has given way to slowing momentum and an onslaught of bad news. Germany’s supposed powerhouse economy ...
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Japan’s economy shrinks most in 4 years as global risks hit business spending
Japan’s economy shrinks most in 4 years as global risks hit business spending.The capital expenditure component of GDP fell a sharp 2.8 percent from the second quarter, worse than the expected 1.6 percent decline and the preliminary 0.2 percent drop.Japan’s economy shrinks most in 4 years as global ...
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China's CPI up 2.2%, PPI up 2.7% in November
China's consumer price index (CPI), a main gauge of inflation, rose 2.2 percent year on year in November, down from 2.5 percent in October, the National Bureau of Statistics (NBS) said Sunday.Food prices climbed 2.5 percent year on year, contributing to a 0.49-percentage-point increase of the overal...
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| Market & Finance |
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Rupee at 3 week low; slips past 71 per US dollar
Rupee on Monday opened at a 3-week low at Rs 71.31 per US dollar as against the previous close of Rs 70.80 per US dollar. The local unit fell as much as 0.84 percent or 59 paise in the early trade. On Friday, the domestic currency had staged a mild recovery to close with a gain against the greenback...
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Dollar slides as US job data dents Fed tightening outlook; yuan on back foot
The dollar slid almost half a per cent against the euro and the yen on Monday after soft US payrolls data fuelled speculation that the Federal Reserve may stop raising interest rates after a highly likely move next week.The Chinese yuan dipped after weak trade and inflation data over the weekend, wh...
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| Commercial Laws |
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Govt mandates preference to India-made vehicles in public procurement
The government has mandated preference to be given to domestically-manufactured vehicles with minimum 65 percent local content in public procurement of automobiles, according to an official notification.As per the new norms notified by the Heavy Industries Ministry with an aim to "encourage Make in ...
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| Direct Tax |
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Direct tax collections rise 15.7% YoY for April-November period
The direct tax collections are up 15.7% for the April-November period from corresponding period a year ago, data released by the government on Monday showed.Collections added to Rs 6.75 lakh crore while refunds amounting to Rs 1.23 lakh crore have been issued during April-November, which is 20.8% hi...
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| Indirect Tax |
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Decoding GST's future course in India
GST has been a major structural reform of the current government. Replacing multiple taxes and cesses of state and central governments into a single tax has been a major relief to trade and industry. At the same time reduction in overall tax incidence has brought relief to the end-consumers. The IT ...
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Centre clears air on constructed property
The Centre on Saturday made it clear that buyers of constructed property need not fork out GST on sale of complex/building and ready to move in flats where sale takes place after issue of completion certificate by the competent authority.GST is applicable on sale of under construction property or re...
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Deadline for filing annual GST return extended to March 31
In a move that would cheerbusiness firms and traders, the Finance Ministry has extended the due date for filing annual return by three more months.“The competent authority has decided to extend the due date for filing FORM GSTR-9, FORM GSTR-9A and FORM GSTR-9C till 31st March, 2019,” a statement iss...
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| RBI |
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Statsguru: RBI maintains status quo on rates; retail inflation dips to 3.3%
Last week the monetary policy committee (MPC) voted unanimously to keep the benchmark interest rate unchanged. As seen in Chart 1, the repo rate stands at 6.5 percent.The decision to maintain the status quo comes against the backdrop of retail inflation, as measured by the consumer price index (CPI)...
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| IMC Chamber of Commerce and Industry Events |
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Source - Yahoo India Finance @ 09:12 |
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| Indian Corporate |
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Engineering services revenue of seven Indian companies grew at double the pace
Engineering services revenue of seven Indian companies shows the segment has grown at more than double the pace compared to traditional software services business.The engineering services revenue or ER&D business across seven Indian companies, including three pure ER&D players, in the IT-BPM sector ...
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Power crisis looming, coal-based plants key to avert it, say experts
A power crisis is looming large on India and the country needs to immediately start planning coal-based power plants and transmission corridors to avert it, experts have cautioned. This is in stark contrast to statistics of the country’s electricity authority that showed planned capacity is enough t...
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