Economy

International Monetary Fund (IMF) appointed India-born Gita Gopinath as Economic Counsellor and Director of the IMF’s Research Department. Ms. Gopinath will succeed Maurice (Maury) Obstfeld, who announced he would retire at the end of 2018, an official statement said on Monday. Source : https://www.thehindu.com/todays-paper/tp-business/gita-gopinath-is-imf-chief-economist/article25100829.ece

Collections from the Goods and Services Tax (GST) in September increased marginally to Rs. 94,442 crore from the Rs. 93,690 crore collected in August. “The total gross GST revenue collected in the month of September 2018 is Rs. 94,442 crore of which CGST is Rs. 15,318 crore, SGST is Rs. …

Growth in new orders, gains in output and employment boosts index Manufacturing activity improved in September on the back of stronger gains in new orders, output, and employment, according to a private sector survey. The Nikkei India Manufacturing Purchasing Managers’ Index (PMI) rose to 52.2 in September from 51.7 in …

Market leader Maruti Suzuki reports 1.4% fall while Hyundai Motor India’s local sales slip 4.5% in Sept. Domestic passenger car sales by major players declined in September, 2018 as compared with the same period last year on account of rising fuel and product prices. Market leader Maruti Suzuki witnessed 1.4% …

‘Fully committed to ensure needed liquidity is arranged’ The government on Monday made clear its commitment to ensuring that the ailing Infrastructure Leasing & Financial Services (IL&FS) receives the liquidity it needs from the financial system, and that no further defaults take place, terming the company a large Systemically Important …

From his petty shop opposite the Jeevan Deep building on Parliament Street, Lal Poddar has had a ringside view of thousands of dharnas organised at Delhi’s premier protest venue. Monday’s rally by the Pension Parishad and HelpAge India, however, had a personal significance for him. “They are demanding a pension …

Clarity sought on the number of aircraft in service The Air Passengers Association of India (APAI) has expressed concern over India’s low ‘air safety oversight score’, which is lower than that of Myanmar, Bangladesh, Maldives, Pakistan, Sri Lanka, Nepal and North Korea in the Asia-Pacific region. The report prepared by …

The Union Health Ministry has ordered an inquiry into the type-2 polio virus contamination detected in the vials used for immunisation in Uttar Pradesh, Maharashtra and Telangana, and has ordered additional immunisation in three States. The government, which has stepped-up surveillance after the breach, has said, “That all possible precautions …

Reward for tip-offs on GST evasion on the anvil The revenue department is planning to come out with a ‘GST informant reward scheme’ to check tax evasion by unscrupulous traders and businesses, an official said. It will be on the lines of similar schemes for excise and service tax, which …

Insurance regulator IRDAI has allowed the distribution of all micro-insurance products through point-of-sales (PoS), with an aim to further increase insurance penetration in the country. The Insurance Regulatory and Development Authority of India (IRDAI) has created a special category of insurance policies called micro-insurance policies to promote insurance coverage among …