Manmohan Singh says demonetisation and GST ‘broke the back of businesses’, ‘cost the nation hugely’
Surat: Former prime minister Manmohan Singh on Saturday said it was too early to conclude that the economic slowdown has reversed as the 6.3 percent growth rate in the July-September quarter did not take into account the small and medium sector which suffered huge losses in the aftermath of demonetisation and hasty implementation of GST. He […]
Oil prices end steady in thin trade
02nd December 2017 New Delhi: Steady conditions prevailed at the wholesale oils and oilseeds market today as prices generally moved in a narrow range in scattered deals. Traders said adequate stocks position against sporadic demand mainly kept edible and non-edible oils at previous levels. Following are today’s quotations (in Rs per quintal): Oilseeds: Mustard seed […]
GST likely to be simplified further
November 30, 2017 After reducing the rates of more than 200 items in the previous Goods and Services Tax (GST) Council meet, the panel might now significantly tweak rules to simplify procedures and ease rules for businesses. The six-member advisory panel formed by the government for simplification and rationalisation of GST will likely propose a […]
Why sugar prices are likely to rise from January
November 29, 2017 The government is considering removing stock limits on sugar to arrest falling prices after a bumper harvest. Industry representatives met food ministry officials late last week to urge the government to remove the stock limits. The rules now allow a dealer or trader in north and north-east India to store up to […]
‘GST good for domestic designers’
New Delhi, Nov 22 : Indian designers can benefit from the country’s GST policy says Narresh Kukreja from the Shivan & Narresh designer duo. He believes if designers don’t take advantage of the situation, they will “regret” it in the long run. The current GST rate on designer goods is 12 per cent. “I feel […]
Sensex, Nifty stay afloat in volatile trade
November 20, 2017 Key stock indices Sensex and Nifty on Monday rode out sharp fluctuations, but closed flat, with realty, metal and power stocks saving the day for them. Risk appetite took a back seat, reflecting mixed Asian shares on lingering concerns about American tax reforms, traders said. The market struggled for direction as the […]
‘Complex GST process hitting ecommerce startups’
New Delhi, Nov 18 :Online sales of auto components have been hit by complex GST model for ecommerce players, online marketplace boodmo said. Exclusion of e-commerce businesses from the composite scheme, a higher tax rate of 28 per cent for auto components and for logistics of spare parts as well, and a complex GST model […]
Moody’s upgrade: Jaitley vows to continue reforms
November 17, 2017 Finance Minister Arun Jaitley on Friday termed the upgrade of India’s credit rating by Moody’s after a gap of 13 years as a “belated recognition” of reforms in the last few years, and vowed to continue them while maintaining fiscal discipline. Commenting on Moody’s upgrading India to Baa2, from Baa3, he said it is […]
Bank stocks surge up to 6% after Moody’s rating
November 17, 2017 Bank stocks today rose by up to 6 per cent after the US-based Moody’s upgraded India’s sovereign credit rating by a notch to ‘Baa2’ with a stable outlook. Shares of PNB surged 6 per cent, Bank of Baroda soared 5.17 per cent, Yes Bank gained 4.16 per cent, SBI (3.91 per cent) […]
Rupee moves up 13 paise to 65.29 against US dollar
Mumbai, Nov 14: The rupee, marking a turnaround, registered a 13-paise jump to 65.29 against the dollar early today after exporters increasingly turned away from the American currency. The dollar losing some of its lustre overseas and a better opening in domestic equities supported the rupee lift, traders said. Yesterday, the rupee had plunged 26 paise […]
