Economy News - Page 29
At Ola and Uber, times are a changin', striking drivers will just have to grin and adjust
The taxi aggregators will in the future shift to a profit model by eliminating the incentives completely
Recent GST Council's decisions not in national interest: IRS officers body
The association has asked the Finance Ministry to look into the serious concerns of IRS(C&CE) to raise the morale of officers of such large cadre, the officers said.
Budget 2017 should look at these 7 areas to kick-start economy, create jobs
At least 50-100 million people are likely to migrate from farms to cities within the next decade in search of jobs, or glamour, or both
Five key broad risks companies need to look out for in this budget
Growth is going to remain broadly pegged to consumer spending, which is good news for retail-facing industries.
Budget for salaried: SBI for raising income tax exemption to ease demonetisation pain
While the revenue forgone through exemptions would be over Rs 35,000 crore, tax collections under IDS-2 could be around Rs 50,000 crore and cancelled liabilities from the RBI is expected to be around Rs 75,000 crore, said SBI's Chief Economic Advisor Soumya Kanti Ghosh
Demonetisation impact: Property sales to see 20-30% fall, says Fitch report
In its report "2017 Outlook: Asia-Pacific Corporates", Fitch changed its outlook on Indian housing sector to negative from stable.
Budget 2017: EC okays 1 Feb date, but warns no schemes for poll-bound states can be announced
Finance Minister Arun Jaitley’s budget speech should not refer to the government’s achievements in poll-bound states, EC said.
Tax collection has increased, but Arun Jaitley may be jumping guns by linking it to note ban
There is a lot of data; it will take at least one year for the government to analyse. Also the question is whether the demonetisation has increased the tax base.
Budget 2017: World Gold Council demands lowering of gold taxes from current 13%
At present, gold attracts Customs duty of 10 percent, excise duty of 1 percent and 1.5 percent value added tax (VAT), taking total taxes on the yellow metal to 13 percent.
Exclusive: Talk of cashless economy ‘unreal’, agenda of MNCs, says former RBI dy gov KC Chakrabarty
Even if RBI opposed demonetisation, the government would have gone ahead with it.
Budget wishlist: Stable fiscal regime in oil & natural gas needed to attract investments
For India’s energy security, it is critical that we incentivise investment in the entire value chain of oil and gas sector including pipelines, CGD network and LNG.
Budget may levy new cess to provide social security to coolies
"The proposal makes a lot sense because 10 paisa cess per ticket will not burn of a hole into travellers' pockets. Besides it would help railways to mop up funds to provide social security to coolies," said the source.
Govt to set FY18 fiscal deficit target at 3.3-3.4%: Reports
Goldman Sachs report said the lower reduction in fiscal deficit is to stimulate demand in a weak economic environment post demonetisation announced in early November
Demonetisation impact: Over 125 mn totter from farm to loom, textile to employers
The textile industry, of which decentralised power looms and knitting are the largest components, contributes to 2 percent of India’s gross domestic product.
Note ban decision taken even after RBI expresses concern over quick replacement of old currency
The revelation comes amid growing criticism about whether the central bank and the government had sufficiently assessed the potential fallout from the 8 November ban of about 86 percent of the cash then in circulation.
Note ban puts Arun Jaitley under pressure to offer tax giveaways in budget
The temptation to please voters risks straining public finances and inviting the wrath of investors and ratings agencies who have praised Jaitley for his past fiscal prudence.
Donald Trump's 'Buy American-Hire American' pledge unnerves Indian IT
Trump's hardline stance on protectionism and anti-immigration is no surprise to the Indian industry.
Budget should focus on roads, affordable housing, rail to boost economy
The augmentation of the revenue base is likely to be directed toward infra and social spending; any major reduction in corporate tax rate would be accompanied by lowering of exemptions
Note ban: Stormy PAC as BJP, Congress spar; Urjit Patel, RBI have no answers to key questions
Even after 72 days of demonetisation, the RBI has said it doesn't know the exact number of notes banned and amount of deposits received during the first 50 days
Demonetisation: Congress comes prepared but fails to corner Modi govt at PAC meet
Supporting the government’s move, a panel member, who is also a BJP MP, said that the common man had welcomed demonetisation and it would prove helpful in economic development in future.
Railways seeks gross budgetary support of Rs 50,000 crore for FY'18
Gross Budgetary Support (GBS) of Rs Rs 40,000 crore was announced in the 2015-16 Rail Budget. However, the Finance Ministry for the current year had slashed it to Rs 28,000 crore, citing slow spending pace.
RBI autonomy: Why Modi govt must stay at an arm’s length from Mint Road
A toothless, weakened central bank wouldn’t do any good for any aspiring economy
PM's digital dream: Why Amravati should be the pilot smart city
Though the government’s heart is at the right place insofar as smart cities are concerned, its actions have been incremental, small and unfocused.
From NREGA to Nabard: Here's how govt can redistribute note ban proceeds to poor
It is unlikely that there could be a direct transfer of money to Jan Dhan accounts which is reported to have seen some misuses. The government would want to use indirect transfer mechanisms
Demonetisation impact: Banks told to report deposits over Rs 10 lakh a year
Payments of an amount aggregating to Rs one lakh or more in cash, along with payments of Rs 10 lakh or more made by any mode (including cheque or wire transfer), towards settling credit card dues in a year will also have to reported.
India compelling market but fraud fears persist among global investors, finds study
According to the study, India was the second on the list of countries where investors were averse to investing due to fraud fears.
Udaan scheme set for take off: 43 ghost airports to see subsidised flights soon
Air passengers departing from bigger metro airports have to cross subsidise UDAN fares as airlines have been asked to pay a small levy for each departure from big airports – the money so collected will offer subsidy for the Udan scheme
Davos 2017: World Economic Forum is losing relevance; here's what it means for global economy
While Davos will continue to be conducted in future, the coverage in the media would tend to reduce as the relevance of these meetings diminishes over time unless there is a change of thinking and action at White House
Budget for undivided families: Here are a few secular ways to foster family ties via tax sops
Family figures on the radar of the taxman only tangentially---for granting exemptions to health and life insurance premiums on children and spouse.
Tragedy of going 'cashless': How Razia Begum, mother of 4, was pushed to suicide after note ban
Razia’s was one of the scores of deaths reported in the days following Prime Minister Narendra Modi’s decision to scrap high-value bank notes in a crackdown on 'black economy'.