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GAAR from April 1, 2017; to be invoked in fair, rational manner: CBDT

GAAR from April 1, 2017; to be invoked in fair, rational manner: CBDT

GAAR, it said, will come into force from April 1 and can be invoked only through a two-stage process involving a nod at the level of principal commissioner of income tax and a panel headed by a high court judge.

India ahead of China on Retail Development Index: Report India ahead of China on Retail Development Index: Report

India has surpassed China in the global Retail Development Index in 2017, indicating growing prominence of the country as a preferred retail destination for global brands, says a report by real estate consulting firm CBRE South Asia.

'RBI still has room to slash key rate in current fiscal' 'RBI still has room to slash key rate in current fiscal'

The Reserve Bank still has room to cut the key policy rate in the current fiscal, veteran banker Naina Lal Kidwai has said, while stressing that banks should pass on the benefits of lower rates to customers.

Growth, inflation to trend higher in next 6-12 months: Nomura Growth, inflation to trend higher in next 6-12 months: Nomura

Most MPC members voted for a rate cut in August owing to low inflation momentum and signs of weaker growth.

Revenue dept's probes source of data on black money: FM Jaitley Revenue dept's probes source of data on black money: FM Jaitley

Finance Minister Arun Jaitley on Wednesday said ongoing probes of and notices to depositors of unexplained money post note ban were among the sources to collate information about black money that figured in Prime Minister Narendra Modi's Independence Day speech.

India emerged as strong power, but a long way to go: US experts India emerged as strong power, but a long way to go: US experts

As India celebrated its 70th Independence Day, the country has emerged as a strong world power but still has "a long way to go", top American experts feel.

India may become 1st nation using LED for all lights by 2019: Piyush Goyal India may become 1st nation using LED for all lights by 2019: Piyush Goyal

Power Minister Piyush Goyal on Wednesday said India will probably be the first country in the world to use LEDs for all lighting needs by 2019, which would help the nation save over Rs 40,000 crore a year.

MPC members warn inflation could accelerate: RBI minutes MPC members warn inflation could accelerate: RBI minutes

The RBI cut the main policy repo rate by 25 basis points to a more than 6-1/2-year low of 6 percent on August 2, in a widely expected move, but kept the market guessing on whether there is more space for trimming.

RBI to maintain "prolonged pause" before next rate cut: HSBC RBI to maintain "prolonged pause" before next rate cut: HSBC

The note comes two days after data showed that headline consumer price inflation (CPI) almost doubled to 2.36 percent for July from 1.54 percent in the previous month, and a day after the wholesale price inflation also shot up to 1.54 percent from being negative in the previous month.

Cabinet approves new metro rail policy

The government on Wednesday approved a new metro rail policy for expanding the metro network across various cities in the country, officials said.

CPI, WPI inflation to rise further in coming months: Morgan CPI, WPI inflation to rise further in coming months: Morgan

Retail and wholesale inflation accelerated in July and the uptrend is likely to continue in the coming months, limiting the space for further monetary easing, says a Morgan Stanley report.

Railways Ministry to observe “Rail Swachhta Pakhwada” from 16th to 31st August –Details here Railways Ministry to observe “Rail Swachhta Pakhwada” from 16th to 31st August –Details here

Detailed guidelines for the ‘Pakhwada’ have been formulated and circulated to each unit of Indian Railways and the entire network is gearing up to observe the ‘Pakhwada’ in the most effective manner.

High GST may taper leasing industry growth

The estimated Rs 5500 crore capital good leasing sector growing at 15-20 percent may get tapered due to high Goods and Services Tax (GST) along with few other issues.

UDAY no panacea, pushed states' fiscal deficit by 0.7%: Survey

Ujwal DISCOM Assurance Yojana (UDAY) envisages reduction in interest burden, cost of power and Aggregate Technical and Commercial (AT&C) losses. It was launched in November 2015.

Modi govt's landmark economic reforms since last Independence Day Modi govt's landmark economic reforms since last Independence Day

These historic reforms stunned the people nation-wide. Not only it gave new heights to Indian economy but also paved way towards global recognition.

Over Rs 3 lakh crore came into system after note ban: PM Modi Over Rs 3 lakh crore came into system after note ban: PM Modi

 Listing the achievements of the NDA government in curbing black money, including demonetisation, Prime Minister Narendra Modi on Tuesday said that authorities had confiscated black money worth over Rs 1 lakh crore and around Rs 3 lakh crore had been brought into the banking system.

 

On 70th Independence Day, PM Modi urges greater digital transactions On 70th Independence Day, PM Modi urges greater digital transactions

Prime Minister Narendra Modi on Tuesday urged the nation, especially the youth, to adopt the digital platform for their money transactions.

Rs 1.75 lakh crore under scrutiny post note ban: PM Modi Rs 1.75 lakh crore under scrutiny post note ban: PM Modi

Vowing to continue the crackdown on black money, Prime Minister Narendra Modi on Tuesday said that over Rs 1.75 lakh crore deposited in banks post note-ban and more than 18 lakh people with disproportionate income are under government scrutiny.

Industry sees room for more rate cuts as inflation rises Industry sees room for more rate cuts as inflation rises

Wholesale inflation increased to 1.88 per cent in July as prices of some commodities increased in the first month of Goods and Services Tax (GST) rollout.

WPI inflation rises sharply to 1.88% in July

The government data released on Monday showed that prices of food articles went up by 2.15 percent in July on a yearly basis. In June, the prices had contracted by 3.47 percent.

India's trade deficit shrinks to $11.45 billion in July

India`s trade deficit narrowed to $11.45 billion in July from a month ago, following a slowdown in merchandise imports, government data showed on Monday.