To Hike Rate Or Not? RBI Panel To Brainstorm For 3 Days

1 year ago PTI 0
Rising inflation and high crude oil prices will weigh on the minds of the six Monetary Policy Committee (MPC) members at their three-day meeting starting today to decide the key policy rate. The seven-quarter high growth rate of 7.7 per cent in January-March 2018 and forecast of a normal monsoon has reduced the clamour for Read More

Tax Department Denies Writing Off Rs. 3,000 Crore Corporate Dues

1 year ago Indo-Asian News 0
In an apparent volte-face, the Central Board of Direct Taxes has said that figures of ‘write-offs’ of Income Tax arrears furnished under right to information (RTI) action were sent out in error. Responding to a media report With Rs. 50,000 Crore As Arrears, Income Tax Department Writes Off Massive Corporate Dues, the CBDT’s official spokesperson said that the the Read More

Government Launches Online Tool To Monitor Foreign Contributions

1 year ago Indo-Asian News 0
The Centre on Friday launched a web-based analytical tool to closely monitor the flow and utilisation of foreign contributions received by different organisations registered or permitted under the Foreign Contribution Regulation Act (FCRA). “The tool enables decision-makers in various government departments/Ministries to scrutinise the sources of foreign funds and their actual use in India. It Read More

Rupee gains 24 paise in early trade

1 year ago PTI 0
Rising for the third day, the rupee appreciated by 24 paise to 67.17 against the US dollar on continued selling of the American currency by banks and exporters amid robust macroeconomic data. Data released by the CSO on Thursday showed gross domestic product (GDP) growth in the January-March quarter of 2017-18 was at a seven-quarter Read More

Sensex Edges Higher Amid Choppy Trade; ICICI Bank Shares Jump 4%

1 year ago NDTV 0
The Sensex edged higher amid choppy trade, a day after official data showed GDP growth rose to 7.7 per cent in January-March quarter. BSE benchmark index Sensex and the NSE Nifty had started Friday’s session on a flat note but soon rose as much as 110 points after see-sawing between mild gains and losses. The Read More

Growth Surge To 7.7% Sets Stage For Rate Hike, Possibly Next Week

1 year ago Anirban Nag | Bloomberg 0
India’s economic growth is picking up pace in an environment of rising price pressures, setting the stage for an interest rate increase as early as next week. Growth accelerated to 7.7 percent in the fourth quarter of the financial year ended March 31, government data showed on Thursday, making it the fastest growing major economy. Read More

Moody’s Slashes India Growth Forecast In 2018

1 year ago Indo-Asian News 0
Moody’s Investors Service report on Wednesday has cut India’s GDP growth forecast to 7.3 per cent in 2018, from previous forecast of 7.5 per cent due to higher oil prices and tighter financial conditions. “The Indian economy is in cyclical recovery led by both investment and consumption. However, higher oil prices and tighter financial conditions will weigh Read More