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No better place to invest than India: FM

Investors can find no better place in the world than India that has a democracy- loving and a capitalist-respecting environment, Union Finance Minister Nirmala Sitharaman has said. She also assured international investors during an interaction session at the IMF’s headquarters that the government was continuously working towards bringing reforms. “It …

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‘For FMCG, rural growth worst in 7 years’

For the first time in seven years, rural growth has fallen below that of urban for the fast-moving consumer goods (FMCG) industry, whose sales are often looked upon as a barometer of overall economic growth and consumption due to the range and reach of products across price points. According to …

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Trouble looms for AI subsidiary divestment

The Airports Authority of India’s (AAI) tender inviting bids for ground handling services for 76 of its airports may impact the disinvestment of Air India (AI) ground handling arm AIATSL, say potential bidders. Within hours of the government inviting interest for 98% stake sale of Air India Air Transport Services …

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U.S. to discuss trade, e-com rules with India

U.S. Ambassador Kenneth I. Juster will lead a delegation of officials to hold talks with Union Commerce Minister Suresh Prabhu on Thursday to resolve several sore trade points, including the concerns of American CEOs regarding doing business in India and bilateral trade imbalance. The status of the review of India’s …

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Retail inflation cools further to 2.05% in Jan.

Retail inflation declined marginally to 2.05% in January over the previous month on continued decline in food prices, including vegetables and eggs, government data said on Tuesday. Retail inflation based on the Consumer Price Index (CPI) for December 2018 has also been revised downward to 2.11% from the earlier estimate …

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Centre invites interest for Air India arm stake sale

AIATSL provides passenger and baggage handling services The government has invited interest for 98% stake sale in Air India’s ground handling arm — Air India Air Transport Services Limited (AIATSL). The remaining 2% will be offered to the employees of the subsidiary for a stock ownership plan. The expression of …

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‘95% of registered realty firms have no PAN’

CAG says I-T dept. has no mechanism to ensure all registered companies have PAN and file returns In an audit of assessments made by the Income Tax Department on the real estate sector, the Comptroller and Auditor General (CAG) found that a whopping 95% of the companies registered with the …

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GoM favours GST cut on houses under construction

A panel of State Ministers on Friday favoured lowering GST on under-construction residential properties to 5% , from the 12% currently. The Group of Ministers, (GoM) under Gujarat Deputy Chief Minister Nitin Patel, was set up last month to analyse tax rates and issues/challenges being faced by the real estate …

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