Economy

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

12 months 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

12 months 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

12 months 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

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

12 months 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

12 months 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

Economy Likely Grew Marginally Higher In March Quarter, Says Poll

12 months ago REUTERS 0
India’s economy probably gained a little momentum in the first three months of 2018 which should ensure that it remains the world’s fastest growing major economy, a Reuters poll found. Gross domestic product expanded an annual 7.3 per cent in the first three months of 2018, the May 24-29 poll of 55 economists predicted, a Read More

Economy Expected To Grow Between 7.3-7.5% In Q4, Says Top Official

12 months ago REUTERS 0
The economy is expected to grow between 7.3 to 7.5 per cent in the March quarter, Economic Affairs Secretary Subhash Chandra Garg told a news channel on Monday. The government will release GDP data on Thursday around 5: 30 pm. Mr Garg said the country was expected to grow at 6.7 per cent in the Read More

Direct Tax Collections Surge 18% To Rs. 10.03 Lakh Crore In 2017-18

12 months ago REUTERS 0
India’s net direct tax collection in 2017/18 stood at 10.03 trillion rupees, up 18 percent on year, the finance ministry said on Wednesday. The growth was the fastest in seven fiscal years. Last month, a finance ministry official had said the country’s direct tax mop-up had exceeded the budget target. Read More

Rupee logs best single day gain this year, surges 56 paise against dollar

12 months ago PTI 0
The Indian rupee on Friday clocked its biggest single-session rally, surging by a whopping 56 paise to close at 67.78 against the US dollar amid a rise in local equities and cooling global crude oil prices. This is the best single-day rise for the home currency since March 14, 2017. The rupee today touched a high of Read More