India is at the world’s centre stage more than ever before for “aspiring to do better in an adverse” environment, Finance Minister Arun Jaitley has said but cautioned that by its own yardstick, the country’s current growth rate is not enough. “More than even before we are at the centre[Read More…]
The Finance Ministry on Thursday challenged the methods used by Moody’s rating system to evaluate a country’s investor worthiness. India’s sovereign rating by Moody’s stands at ‘Baa3’, the lowest investment grade — just a notch above ‘junk’ status. On Tuesday, Moody’s called India’s reform process slow and gradual with muted[Read More…]
Ending the speculation, as who will be the successor of Raghuram Rajan the government has finally announced that Urjit Patel will take over as the 24th Governor of the Reserve Bank of India. Patel was serving as the deputy governor incharge of the monetary policy department. Here is brief profile[Read More…]
At least 11 states are lining up special legislative sessions to ratify the Goods and Services Tax (GST) Bill. This is good news for the Union government, which is looking to implement the new tax regime by April 1, 2017. A minimum of 16 states need to pass GST before[Read More…]
Getting the Constitution (122nd Amendment) Bill, 2014, through the Rajya Sabha for the introduction of the Goods and Services Tax (GST) Bill was a big step for the NDA government. However, the journey does not end here. Following the unanimous vote for the indirect tax, the bill will be sent[Read More…]
Congress leader and former finance minister P Chidambaram spoke on behalf of the party to raise its objections to the Goods and Services Tax (GST) Bill, which was moved in the Rajya Sabha on Wednesday. Welcoming the “friendly tone” of finance minister Arun Jaitley’s introductory speech, Chidambaram hoped the bill[Read More…]
The Sustainable Development Solutions Network (SDSN) and the Bertelsmann Stiftung launched a new Sustainable Development Goal Index in which India is ranked at a low 110 of 149 nations with regard to achieving the Sustainable Development Goals. India which has 1.2 billion people and is expected to grow by another[Read More…]
Gross State Domestic Product (GSDP) data for the year 2014-15 shows the slowest-ever growth rate in Gujarat at 7.7%. This was Gujarat’s first year under chief minister Anandiben Patel. The state which grew at the fastest pace was Bihar, with a growth rate of 15.6%, under chief minister Nitish Kumar.[Read More…]
The Special Investigation Team (SIT) on black money has recommended banning cash transactions of ₹3 lakh and above and restricting cash holding with individuals and industry to ₹15 lakh to curb illegal wealth in the country. Headed by Justice MB Shah, the committee submitted its fifth report to the Supreme[Read More…]
At a time when most of online groceries are unable to keep the business and are shutting down, Upkeepers, a Delhi based startup which is an online B2B Wholesale Club has risen to be the largest Online B2B FMCG Wholesaler in the country. Presently operating in Delhi, it aims to[Read More…]
Finance Minister Arun Jaitley released a postage stamp to commemorate 140 years of India’s first stock exchange, the BSE today in Delhi. Addressing the gathering Jaitley said that BSE was formed as an immediate need for the Indian economy and was an important step towards industrialization. He further added that[Read More…]
The Union Cabinet has approved recommendations by a pay panel on increasing salaries and pension for one crore central government employees and pensioners by at least 23.55%. This implies an annual additional burden of ₹1.02 lakh crore on the exchequer or nearly 0.7% of the GDP. The government has largely[Read More…]
Morgan Stanley says India will be one of the least affected countries in Asia after Britain’s decision to depart from the European Union. The immediate impact in the country will be seen through volatility in exchange rate and capital-market flows, the financial services company added. “Increased uncertainty in the external[Read More…]
The government has uncovered over ₹13,000 crore black money stashed illegally abroad after it was warned by two separate sources in 2011 and 2013. In its bid to crackdown on tax evaders and illegal offshore bank accounts, this spells success for the Narendra Modi-government. On a tipoff from the French[Read More…]
Britain voted to end its 43-year old association with the European Union in a landmark referendum on Thursday. The country voted 52%-48% in favour of ‘Leave’ to become the first member state to exit the 28-nation European Union. Nigel Farage, leader of the eurosceptic UK Independence party called for June[Read More…]
The NDA government is seeking the opinion of the railway ministry on scrapping presentation of the annual Railway Budget. In a 20-page note to the Prime Minister’s Office, Niti Aayog argued the exercise has failed to come of any use to the sector and has become a “mechanism to announce[Read More…]
Due to the surge of investments in the first four months of 2016, India remains in the top ten countries attracting foreign funds, according to the United Nations Conference for Trade and Development’s new World Investment Report 2016. In 2015, India reached a high of $44 billion in foreign direct[Read More…]
After getting his way with Reserve Bank of India governor Raghuram Rajan, BJP leader Subramanian Swamy is going after chief economic advisor Arvind Subramanian. “Sack him!!!” read his tweet this morning. Who said to US Cong on 13/3/13 the US should act against India to defend US Pharmaceuticals interests? Arvind[Read More…]
Union commerce minister Nirmala Sitharaman assured the government is tracking the developments of Britain’s referendum, scheduled on June 23, to leave the European Union. She said it will have a bearing on India’s trade with the European Union and the UK—currently, 15% of India’s imports are from the EU. With[Read More…]
