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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.

Indian exports to China rises sharply in first four months

After years of decline, Indian exports to China rose sharply in the first four months of this year registering a 20 percent increase to USD 5.57 billion, though the trade deficit continued to persist.

GDP growth of 7-8% 'fairly reasonable', says FM Jaitley GDP growth of 7-8% 'fairly reasonable', says FM Jaitley

India growing at 7-8 percent is "fairly reasonable" in the current global context, Finance Minister Arun Jaitley said on Thursday while maintaining that the decline in fourth quarter GDP print cannot be attributed to demonetisation alone.

Reform measures to broaden tax base, cut debt: Moody's

Reform measures undertaken by India will broaden its tax base and help government cut down on debt, but high stressed assets in the banking sector pose contingent liability risks.

3 years of Modi government: FM Jaitley says credibility of economy has been restored 3 years of Modi government: FM Jaitley says credibility of economy has been restored

Jaitley said that the government took key initiatives to reduce scope for corruption and discretion in governance in last three years.

India's manufacturing sector growth falls to 3-month low in May India's manufacturing sector growth falls to 3-month low in May

The Nikkei Markit India Manufacturing Purchasing Managers' Index (PMI) -- an indicator of manufacturing activity -- declined from 52.5 in April to a three-month low of 51.6 in May.

SBI new rule comes into effect – Know about revised service charges on ATM withdrawal, online transaction and more SBI new rule comes into effect – Know about revised service charges on ATM withdrawal, online transaction and more

The State Bank of India (SBI) has made revision in service charges,additions/ modifications on various banking activity like ATM withdrawal, online transaction, issue of cheque book.

Price of diesel in 10 major cities Price of diesel in 10 major cities

Price of diesel was hiked by 89 paise per litre on Wednesday.

Price of petrol in 10 major cities Price of petrol in 10 major cities

Petrol price was hiked by Rs 1.23 a litre on Wednesday.

 

Petrol price hiked by Rs 1.23 a litre, diesel by 89 paise a litre Petrol price hiked by Rs 1.23 a litre, diesel by 89 paise a litre

Petrol price was hiked by Rs 1.23 a litre and diesel by 89 paise per litre on Wednesday. 

Note ban hit GDP growth; RBI must cut rates: India Inc Note ban hit GDP growth; RBI must cut rates: India Inc

The government's note ban move clearly had a debilitating impact on India's economy, the industry said on Wednesday, after GDP data showed growth declined to 6.1 per cent in the January-March quarter.

Govt meets 3.5% fiscal deficit target in 2016-17 Govt meets 3.5% fiscal deficit target in 2016-17

The government on Wednesday said it has achieved the fiscal deficit target of 3.5 percent of GDP in 2016-17.

Eight core sector growth slips to 2.5% in April

The growth of eight core sectors declined to 2.5 percent in April mainly due to lower coal, crude oil and cement productions.

India's FY17 growth slows to 7.1%, Q4 GDP at 6.1% India's FY17 growth slows to 7.1%, Q4 GDP at 6.1%

India`s economy grew 6.1 percent in the three months through March from a year earlier, slowing from a provisional 7 percent in the previous quarter, government data showed on Wednesday. 

PM Modi urges Spanish firms to invest in India PM Modi urges Spanish firms to invest in India

Indian Prime Minister Narendra Modi on Wednesday urged Spanish firms to invest in India, saying the fast-growing country offered "many opportunities" in areas ranging from tourism to energy.

Deceptively quick, India's economy seen staying course as global pacesetter Deceptively quick, India's economy seen staying course as global pacesetter

India is set to hang onto its status as the world`s fastest growing major economy thanks to stronger consumer demand, if data due out later on Wednesday matches economists expectations for a 7.1 percent year-on-year expansion in the March quarter.

Bank a/c number portability: You could soon be able to change your bank without changing account number Bank a/c number portability: You could soon be able to change your bank without changing account number

RBI deputy governor S S Mundra said once account number portability becomes a reality, banks will see silent customer moving away from them without even talking to them.

 

RBI to strike less hawkish tone while standing pat RBI to strike less hawkish tone while standing pat

The Reserve Bank of India is likely to keep interest rates unchanged at a review on June 7, but with inflation well below target its policy statement is likely to sound less hawkish than when the monetary policy committee last met.

India's growth to accelerate to 7.5% this fiscal: Moody's India's growth to accelerate to 7.5% this fiscal: Moody's

India's economic growth will accelerate to 7.5 percent in current fiscal and the government's reform push will help achieve 8 percent GDP growth rate in about four years, Moody's said today.

Scope for rationalisation of GST rates: Hasmukh Adhia Scope for rationalisation of GST rates: Hasmukh Adhia

Revenue Secretary Hasmukh Adhia on Tuesday said there is scope for rationalisation of tax rates fixed for GST regime and the intention of the government is to increase the revenue without hiking tax rates.

Average airfares fall 18% last year, says Civil Aviation Ministry Average airfares fall 18% last year, says Civil Aviation Ministry

Average airfares dropped 18 percent in 2016 and additional capacities can further bring down the fares, Union Minister Ashok Gajapathi Raju today said as he disfavoured the idea of capping ticket prices.