Economy News - Page 7

Income Tax Act amended: IPOs, bonus issue, share gifts exempted from capital gains tax

Inter-se transfer of equity shares between promoter group companies will not enjoy the exemption

Gulf diplomatic crisis: India's commercial ties with the key players involved in charts

With the fall in oil prices, India's total trade with the Gulf countries has been on a decline

Air India has 5 times more debt than Jet Airways, 16 times than IndiGo: A comparison in 15 charts

One intriguing fact: More than a third of Air India staff is sales and ticketing personnel but the airline's passenger load factor is just 75.5%. This means despite the large number of sales staff, it has not been successful is filling the seats

Maharashtra's agriculture conundrum: How sugarcane politics roiled other nutrition crops in the state

Even though all food grain production declined by 13%, electricity consumption by the agricultural sector increased by by 188,140%

GST rollout: PM reviews preparations, says it will be a 'turning point' for economy

He took stock of various elements involved in the rollout and directed the officials that maximum attention be paid to cyber-security in IT systems linked to the GST,

Arun Jaitley makes case for interest rate cut; experts say RBI may wait for GST

Industry has been pitching for a rate cut to boost GDP growth which fell to 7.1 percent in 2016-17, from 8 percent in the previous fiscal

RERA, demonetisation impact: Launches of new homes fall 8% in last fiscal

To boost sales, developers are offering several lucrative packages and incentives to close deals for genuine buyers.

Govt considering to further relax FDI in defence in boost for manufacturing

Currently FDI up to 49 percent is permitted in the sector through automatic route and beyond that up to 100 percent via government nod is permitted.

At 3% GST rate, gold jewellery demand to be unaffected, says Icra

Under the present tax regime, jewellery retailers are levied a VAT of 1 percent in most states (except in Kerala, where 5 percent VAT is levied) on sales and an excise duty of 1 percent is levied on the input side

GST: It is a one nation, eight tax rate structure; but it isn’t bad one to start with

There are also countries like Indonesia where there is a multiple tax structure

Oil price jumps after Saudi Arabia, UAE, Bahrain ditch Qatar; London bridge terror attacks hurt sterling

Qatar is the biggest supplier of liquefied natural gas (LNG) and a major seller of condensate - a low-density liquid fuel and refining product derived from natural gas.

After UAE, Bahrain, Saudi Arabia blacklist Qatar, price of oil likely to skyrocket

Markets reacted to the escalation of the diplomatic row in the Gulf region and sent the price of oil 1.04 percent higher to $50.47 per barrel,

Solar energy boom turns to bust for Indian manufacturers

Chinese companies accounting for around 85 percent of India's solar module demand and earning around $2 billion, according to industry data.

Services activity accelerates to a 7-month high in May as new business picks up: PMI

It was still well below the 54.3 it was at just before Prime Minister Narendra Modi's announcement on 8 November to ban high-value currency notes

Successful demonetisation will help raise revenues in long run, says World Bank report

Informal economy accounted for over half of India's GDP as of 2008-09 and 82 percent of non-agricultural employment.

World Bank projects global growth at 2.7% in 2017 amid pick up in manufacturing, trade

Recovery in trade growth in 2017 is supported by stronger demand from major advanced economies, increased trade flows to and from China

GST rollout: Banks not yet prepared, says Indian Bank Association to Parliamentary panel

Banks will have to make changes in the existing infrastructure which would be a huge challenge for the banks.

As GST rollout nears, pain points increase and the blame rests squarely on both central, state govts

There are indications that the Council could, at its 11 June meeting, revisit some of the rates that had been decided earlier.

GST rates: Govt starts media awareness drive for common man to prevent being fleeced by traders

The Central Board of Excise and Customs (CBEC) in advertisements in leading dailies gave pictorial representations of items which are exempt from Goods and Services Tax and the ones which would attract lower tax of 5 percent.

GST expected to give level playing field to organised retail players, says report

While the tax on branded apparels (textiles) is not known, a revenue neutral rate for apparel industry would be 12-15 per cent, the report by CARE Ratings said.

GST rate: Khadi yarn, Gandhi topi, national flag, most 'puja samagri' exempt; 3% on pearls, imitation jewellery

The tax department has also put up on its website the list of items which would be exempt from Integrated GST (IGST) under multilateral or bilateral commitments in respect of imports by privileges persons, organisations, authorities and foreigners.

GST rate for gold, other items fixed: Will it raise demands for more special rates? Experts weigh in

Industry said that traders need to gear up for the transition as more delay was unlikely.

GST Council to fix tax rate on gold and other commodities today; jewellers on toes

This will probably be the last meeting of the GST Council before the implementation of the new tax regime from 1 July

Air India stake sale will be 'very, very difficult' says Arvind Panagariya

Loss-making Air India, surviving on taxpayers' money, is facing tough business conditions amid stiff competition.

Chhattisgarh CM Raman Singh seeks Japanese investment in the state

Raman Singh today invited Japanese industrialists and investors to Chhattisgarh during his Japan visit to attract foreign investments

Rising NPA: RBI initiates prompt corrective action for Dena Bank

Earlier, similar action was initiated against other state-owned lenders -- IDBI Bank, Indian Overseas Bank and UCO Bank

RBI governor Urjit Patel meets Arun Jaitley; discusses issues for the monetary policy review in June

Ahead of the next monetary policy review, RBI governor Urjit Patel called on finance minister Arun Jaitley to discuss various macro-economic issues

Real impact of demonetisation will be known only by 2018-end: Former chief statistician Pronab Sen

Sen noted that the country does not have a system of getting a more regular data on the unorganised sector

India's slower GDP 'nasty surprise', 'self-goal' by Narendra Modi govt, says Chinese media

India lost the tag of the fastest growing major economy to China in the March quarter with a GDP growth of 6.1 percent, which pulled down the 2016-17 expansion to 7.1 percent.

IT layoffs: NITI Aayog's Arvind Panagariya dismisses fears, says world in grip of ‘robophobia’

Anomalies in employment data should get addressed with the just-launched NSSO survey, Panagariya said