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GST rollout from July 1 to make goods cheaper: Jaitley

NEW DELHI: Hopeful of the GST rollout from July 1, Finance Minister Arun Jaitley today said it will create one of the world’s biggest single markets and make commodities cheaper… Read more »

World Bank approves USD 210 mn for Bengal gram panchayats

KOLKATA: The World Bank has approved a loan of USD 210 million to strengthen gram panchayats (GPs) across the state of West Bengal to better utilize the discretionary funds that are… Read more »

Model GST Bill to go for 20% peak tax, slabs intact for now

NEW DELHI: The GST Council has proposed to raise the peak tax rate to 20 per cent, from the current 14 per cent, in the model goods and services tax… Read more »

Canadian institutional money is pouring into India like never before

TORONTO, Canada: For Anuj Ranjan, the globetrotting India head of Brookfield, the fundamental investment thesis behind buying a large telecom towers portfolio from Reliance Communications was not all that different… Read more »

‘Only 5 major telcos will be left in India’

BARCELONA: The fresh round of consolidation unfolding in the Indian telecom market is likely to yield five major players ensuring “enough competition but not fragmentation of spectrum”, Telecom Secretary J… Read more »

Democracy too liberal in UK for defaulters

LONDON: Finance Minister Arun Jaitley has said democracy is liberal enough in the UK to permit defaulters to stay here and that “normal” needs to be cracked, in an apparent… Read more »

DeMo to cut tax avoidance, corruption; credit positive: Moody’s

NEW DELHI: Demonetization will be credit positive for India as it is likely to reduce tax avoidance and corruption, Moody’s Investors Service has said. Besides, it said, the country remains… Read more »

FDI inflow zooms 18% to USD 46 billion in 2016: DIPP

NEW DELHI: Foreign direct investment (FDI) in India grew 18 per cent during 2016 to touch USD 46 billion, data released by the Department of Industrial Policy and Promotion (DIPP)… Read more »

It’s important one grows a thick skin fast, says RBI Governor

NEW DELHI: Unfazed by criticism of the way the note ban was handled, Reserve Bank of India (RBI) Governor Urjit Patel on Friday said the central bank has grown a… Read more »

Demonetization impacts PepsiCo’s India business: Nooyi

NEW YORK: The demonetization drive in India had a “significant impact” on PepsiCo’s business in the country in the last quarter of 2016 and there are still “lingering effects” of… Read more »

Pay income tax, apply for PAN using mobile app

NEW DELHI: In step with government’s digital India drive, the Income Tax department is developing an app that will soon allow assessees to pay taxes or apply for PAN using… Read more »

Reliance Defense signs warship repair pact with US Navy

NEW DELHI: Months after India and US signed a key logistics pact, Reliance Defense and Engineering has announced an agreement with the American Navy for repair and alteration services for… Read more »

Nadella stresses ‘diversity and inclusion’

NEW YORK: Microsoft has to “look like everyone and every organization in the world” for it to accomplish its mission, the technology giant’s Indian-born CEO Satya Nadella has said, asserting… Read more »

‘US firms going abroad can’t fire everybody’

WASHINGTON: President Donald Trump has warned of “consequences” to American companies planning to shift base abroad, telling them that he would make it “harder” for them to just say “bye-bye… Read more »

Chidambaram asks for cut in indirect taxes

NEW DELHI: Former finance minister P Chidambaram, who feels the Union Budget for 2017-18 is “aimless and directionless”, says the government should immediately cut indirect taxes across the board to… Read more »

Indirect tax revenue grows 24% in Apr-Jan; direct tax up 10.79%

NEW DELHI: Government’s revenue collection from indirect tax grew by an impressive 23.9 per cent during the April-January period, while that from direct tax rose by 10.79 per cent. Total direct… Read more »

‘India will be world’s fastest growing economy in next 5 yrs’

WASHINGTON: India will be the world’s fastest growing economy during the next five years, a top US intelligence think-tank has said while underlining that Pakistan, unable to match India’s economic… Read more »

RBI cuts FY17 growth forecast to 6.9%, pegs 7.4% for next yr

NEW DELHI: RBI Governor Urjit Patel today cut the economic growth forecast to 6.9 per cent for the current fiscal from 7.1 per cent estimated earlier, even as he said… Read more »

RBI to set up panel on strengthening cyber security

MUMBAI: In a bid to strengthen cyber security system, the Reserve Bank (RBI) today decided to set up an inter-disciplinary panel on cyber security to examine various threats and suggest… Read more »

RBI to set up separate Enforcement Department

MUMBAI: The Reserve Bank on Wednesday said it will set up a separate Enforcement Department beginning next fiscal to deal with non-compliance of various regulations of the central bank. “With… Read more »