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India signals readiness to put growth ahead of fiscal discipline
India’s government signaled it’s ready to sacrifice fiscal discipline to stoke economic growth, as it prepares to unveil its last spending plan next month before a general election. “It entirely depends on what the existing situations are,” Finance Minister Arun Jaitley said in an interview to CNBC-...
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Budget likely to raise MGNREGS allocation by 9% to Rs 60,000 crore
Budget allocations for major rural development programmes are likely to rise sharply in the interim budget on February 1. The budget, sixth by the Narendra Modi-led government, is expected to increase the allocation for the flagship Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) to...
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France pushes economic agenda in India
There’s more to France’s interests in India than the Rafale fighter jet deal. French ambassador Alexandre Ziegler, who is leading a 78-member delegation to the 9th edition of the Vibrant Gujarat Global Summit, told ET’s Dipanjan Roy Chaudhury in an interview that France has a huge stake in India’s e...
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Centre's divestment target for FY20 to likely be around Rs 80,000 crore
The disinvestment target for 2019-20 (FY20) is likely to be around Rs 80,000 crore, the same as that of 2018-19 (FY19), said sources in the government. The Department of Investment and Public Asset Management (Dipam) hopes for a successful go at privatising Air India. It also hopes to divest more In...
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| Global Economy |
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China revises 2017 GDP growth downward to 6.8%
China revised its 2017 economic growth down to 6.8 per cent from 6.9 per cent, the government statistics office said Friday, as it braces for a possibly worse performance in 2018.
The size of the gross domestic product of the world’s second-biggest economy was revised down from 82.7 trillion yuan (...
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Economy heading towards bankruptcy, warns Pasha
Former Finance Minister and renowned economist Dr Hafiz A Pasha on Friday warned the PTI led government that Pakistan’s economy would be heading towards bankruptcy as blown out of full fledge balance of payment crisis could erupt in five months period with existing pace of deficit on external accoun...
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EU Outlines Trade Goal With US In Bid To Bolster Truce
The European Union unveiled a blueprint for a free-trade deal with the U.S. that would cut tariffs on a wide range of industrial goods including cars in a bid to heal commercial ties. European Trade Commissioner Cecilia Malmstrom asked EU governments on Friday in Brussels for the go-ahead to start n...
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US manufacturing output posts biggest gain in 10 months
U.S. manufacturing output increased by the most in 10 months in December, boosted by a surge in the production of motor vehicles and a range of other goods, which could allay fears of a sharp slowdown in factory activity. The Federal Reserve said on Friday manufacturing production jumped 1.1 percent...
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New ECB norms limit refinancing options: Fitch
The recent Reserve Bank guidelines simplifying external commercial borrowings will "curb" refinancing options for companies, says a report. But the system-wide impact of this will be limited, as there were masala bonds and foreign-currency debt issuances recently with a minimum average maturity of 1...
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| Market & Finance |
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India's debt up 50% to Rs 82 lakh crore in Modi era
Total liabilities of the government has increased 49 per cent to Rs 82 lakh crore in the last four-and-half years during the Narendra Modi government, as per the 8th Edition of the Status Paper on Government Debt released Friday. Compared to the latest data available till September 2018 when the tot...
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Forex reserves swell by $1.26 bn to $397.35 bn
The forex reserves continued its upward march and increased by USD 1.267 billion to USD 397.351 billion in the week to January 11, aided by a rise in core currency assets and value of gold, the RBI said on Friday. The overall kitty had swelled by USD 2.68 billion to USD 396.084 billion in the previo...
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Rupee falls 16 paise to 71.19, logs second weekly loss
The rupee on Friday weakened by 16 paise to close at 71.19 against the US dollarNSE 0.45 % amid rise in demand for the greenback from exporters and unabated increase in global crude oil prices. This is the second successive week of loss for the Indian currency. During the week the domestic unit regi...
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| Direct Tax |
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Government to further ease framework to exorcise angel tax demons
The government is open to further easing the simplified framework that will allow startups to seek exemption from the so-called angel tax to address concerns that entrepreneurs and other stakeholders have raised. Besides, the Central Board of Direct Taxes (CBDT) will soon set up a dedicated unit fo...
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| Indirect Tax |
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Several states opt to double GST threshold
Kerala is so far the only state to retain the GST threshold at an annual turnover of Rs 20 lakh for businesses in the state, even as half-adozen states agreed to double the registration and tax limit for manufacturers to Rs 40 lakh. So far, six states have decided to double the threshold after the G...
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| RBI |
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| SEBI |
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SEBI lays down mechanism to prevent insider trading
In a key policy move, the Securities and Exchange Board of India (SEBI) has decided to hold company promoters, irrespective of their shareholding status, responsible for violation of insider trading norms if they possess unpublished price-sensitive information (UPSI) regarding the company without an...
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Source - Yahoo India Finance @ 08:01 |
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| Indian Corporate |
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Toyota steps on the gas, makes India one of its top 10 markets
India has become one of Toyota Motor Corp's top 10 markets globally, overtaking Saudi Arabia, thanks to the popularity of its Innova Crysta multi-purpose vehicle (MPV) and other models, and is expected to rise higher up the rankings for Japan's largest car maker. "India was number 11 in 2017 - it b...
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Wipro posts 35% q-o-q rise in net at Rs 2,544 crore; Operating margin improved by 5.6%
India’s third-largest software services exporter, Wipro, on Friday posted a 34.9% quarter-on-quarter rise in its consolidated net profit at Rs 2,544 crore during the October-December quarter. The company’s consolidated revenues stood at Rs 15,059 crore, a 3.5% increase over the last quarter. The com...
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