Economy

In pre-GST era, the industry was struggling to add value to its customers, compared to global peers It has been 15 months since the rollout of what is considered one of India’s biggest tax reforms — the Goods and Services Tax (GST). But, we are already witnessing a major positive …

Section 13 of the RBI Act gives Governor the deciding vote Monday’s meeting of the Reserve Bank of India’s Central Board will be as important for the actions taken as for the fact that it’s the first time the body has met since the ‘RBI vs Finance Ministry’ tussle broke …

New Delhi feels that Beijing will focus on food security by diversifying imports in view of trade war As the trade war with the United States continues to bite — with only a slim chance that the world’s two biggest economies can go past a possible truce — China appears …

The extent of independence of the ratings committee and quality of analysis warrant close watch The IL&FS saga has brought the spotlight back on credit ratings agencies for all wrong reasons. The last time such a situation arose was in late 2015, when auto ancillary company Amtek Auto defaulted on …

Tatas seem keen on Jet, due diligence may be over: analysts A deal to acquire Jet Airways may be in the making, now that Tata Sons has clarified that it is holding preliminary discussions with Jet Airways for a possible investment in one of India’s once-high-flying airlines. Analysts expect an …

To meet the government halfway, the RBI may take some steps to boost loans to the MSME sector that had been badly hit by the demonetisation exercise, and which the government is keen to support in an election year. However, it is to be seen how much RBI can do, …

Easing of PCA framework on the cards at board meeting The Union government may not invoke Section 7 of the RBI Act to issue directions to the central bank, in a bid to reduce the tension between North Block and Mint Road, sources privy to the government’s thinking told The …

The Board of Directors of the Reserve Bank of India (RBI) meets every month to discuss inspection reports of banks and systemically important financial entities, and other routine issues of supervision. The Board now has 18 members, inclusive of the Governor and four Deputy Governors and two top bureaucrats from …

The Navy will formally inaugurate the Information Fusion Centre (IFC) for the Indian Ocean Region (IOR) later this week. Through this Centre, information on “white shipping”, or commercial shipping, will be exchanged with countries in the region to improve maritime domain awareness in the Indian Ocean. “The IFC-IOR is established …

The government wants greater involvement in the RBI’s decision-making as it feels the current practice leaves it out on many critical issues such as single-day default turning a loan into an NPA, sources said ahead of the crucial board meeting of the central bank.The Centre feels that as the representative …

India faces a potential sharp slowdown in credit availability as non-bank financial institutions face a possible credit squeeze even as the asset quality is stabilising, Moody’s said in its 2019 Global Emerging Market Outlook.“In India, an ample foreign exchange reserves buffer and very low external debt levels help provide greater …

The National Green Tribunal (NGT) on Friday directed automajor Volkswagen to deposit an interim amount of Rs. 100 crore with the Central Pollution Control Board (CPCB), following a plea that alleged that the company used “cheat devices” in emission tests in its diesel vehicles.A bench headed by NGT Chairperson Justice …

One important reason for the delay in releasing the back series of the GDP data is the fact that the government took so long in appointing a new Chief Statistician of India, a former government official told The Hindu .The NITI Aayog, earlier this week, said that it would hold …

More than Rs. 400 crore worth of electoral bonds were sold by the State Bank of India (SBI) in the 10-day window of October, a sharp rise from the Rs. 32 crore worth of bonds sold in the July tranche, according to data the bank released under the Right to …

Crop sowing in the ongoing winter (rabi) season is lagging behind this year, with the acreage sown of most major crops lower than usual for this time of year. Overall, 21% less acreage has so far been sown, according to the data released by the Agriculture Ministry on Friday. Wheat, …

If the civic body has its way, property owners who have violated building bylaws may have to pay a hefty tax. The Bruhat Bengaluru Mahanagara Palike (BBMP) has proposed to double the property tax for owners who have deviated from the approved plan. Civic officials who turned a blind eye …

The Dalmia Bharat Group has moved the Supreme Court challenging the National Company Law Appellate Tribunal (NCLAT) order approving UltraTech Cements Rs. 7,950-crore bid for Binani Cement. Confirming the development, Mahendra Singhi, MD and CEO, Dalmia Cement (Bharat) Limited told The Hindu , “We have filed an appeal in the …

The Union Steel Ministry is concerned over the low level of per capita steel consumption in India, according to Steel Secretary Binoy Kumar. “Per capita steel consumption of steel in India at 69 kg [according to Joint Plant Committee data] is still low compared to the world average of 214 …

The Department of Telecom has instructed State-owned Bharat Sanchar Nigam Ltd. (BSNL) and Bharat Broadband Network Ltd. (BBNL) to submit reports every day on the progress made in the Bharat Net project that seeks to connect 2.5 lakh gram panchayats in the country through high-speed broadband by March 2019. “Despite …

India’s merchandise trade deficit widened in October to $17.13 billion due in large part to a higher oil import bill, official data released on Thursday showed. The trade deficit is wider than the $14.61 billion seen in October of last year and the $13.98 billion in September 2018. Positive growth …