Economy
India must push for pro-biz policies to reach $5T economy: Chief Economic Advisor Krishnamurthy Subramanian
Sun, Feb 23, 2020
India must fully implement pro-business policies that allow fair competition to push the country's economy towards the $5 trillion GDP mark, chief economic advisor Krishnamurthy Subramanian said on Saturday.
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Centre to release another Rs 35,000 cr compensation to states soon
Mon, Feb 10, 2020
The Centre will soon release another Rs 35,000 crore to states to compensate for the revenue loss on account of GST rollout, an official said. Under the Goods and Services Tax (GST) law, states are guaranteed compensation for revenue loss for 5 years if their revenue does not increase 14 per cent on the base year of 2015-16
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12% tax revenue growth achievable in 2020-21 fiscal: Revenue Secy
Mon, Feb 10, 2020
A 12 per cent growth in tax collections next fiscal may look ambitious to some but for Revenue Secretary Ajay Bhushan Pandey it is achievable in an economy that is projected to clock a 10 per cent nominal GDP growth
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Economic Activity in Rural area was Good in Q3: Umesh Revankar, Shriram Transport Finance
Fri, Feb 07, 2020
Umesh Revankar, MD & CEO at Shriram Transport Finance: Demand was quite good in this quarter (Q3) and this growth was backed by delayed the agri-output due to excess rain and Diwali festive. Overall, the economic activity in the rural side was good and this led to an improvement on the recovery side
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PM Narendra Modi says fundamentals of Indian economy strong
Thu, Feb 06, 2020
Also, tax compliance is being simplified to make it easier to do business in the country. On Goods and Services Tax (GST), which from July 2017 amalgamated 17 different central and state taxes, he said frequent changes were a reflection of federal structure of the country and showed the government was willing to improve the law.
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Let's work together to make India $5 trillion economy: PM Narendra Modi
Thu, Feb 06, 2020
Talking about the investment climate in the country, he said several measures have been taken to increase the trust of investors in the economy. The prime minister said that foreign direct investment during April-September 2019 increased to USD 26 billion from USD 22 billion in the same period previous year, adding that this reflects confidence of foreign investors in India.
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RBI MPC: Reserve Bank estimates GDP to expand at 6 pct in FY21
Thu, Feb 06, 2020
The Reserve Bank of India on Thursday projected the economy to expand by 6 per cent during the next financial year, pegging it at the lower end of the GDP growth estimate of the Economic Survey. The survey, tabled in Parliament last month, estimated the GDP growth during FY21 at 6-6.5 per cent.
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There was nothing bad in Budget 2020: Vijay Kedia
Thu, Feb 06, 2020
What is good for the country and the economy will be good for the entire share bazaar. I do not look at the budget only with the perspective of the stock market but how beneficial it is for the overall development and the economy, which is the utmost important thing in life, Vijay Kedia, MD, Kedia Securities said
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Income tax: Unorganised sector ought to be in tax net, says CBDT chief
Wed, Feb 05, 2020
Income Tax: Central Board of Direct Taxes (CBDT) Chairperson P.C. Mody on Tuesday said that the unorganised sector is ought to be under the tax framework. At a conference organised by FICCI here, the CBDT chief said that having a broader tax base would result in lower tax rates across the board
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We are telling you where money is going to be spent so that you can plan your investments: FM Nirmala Sitharaman
Tue, Feb 04, 2020
Finance Minister Nirmala Sitharaman on Monday said the money raised through disinvestment will be used to develop infrastructure, which will have multiplier effect on the economy and not bridging revenue deficit
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Shifting to optional new income tax slabs will benefit taxpayers: Official
Tue, Feb 04, 2020
Taxpayers willing to migrate to the new personal income tax regime announced in the Union Budget for 2020-21 will get more benefits than the older system, a senior official said on Monday. Multiple layers of deductions and exemptions add to the complexity of the Income Tax Act, Principal Chief Commissioner of Income Tax (West Bengal and Sikkim) B Jha said
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