Panaji: Friday proved to be a big day for India Inc. After a slew of tax concessions including reduction in corporate tax from 30 per cent to 22 per cent, the GST Council has lowered tax on a number of goods and services to spur demand. The key sectors which would benefit from GST rate […]
Category: Business
FM announces tax bonanza for corporates, exchequer to take Rs 1.45L cr hit
New Delhi: In a major bonanza for corporates as part of measures to promote growth and investment, Finance Minister Nirmala Sitharaman on Friday announced to slash corporate tax rate to 22 per cent for domestic companies and 15 per cent for new domestic manufacturing companies, besides other fiscal reliefs. The effective tax rate for these companies […]
Oil Companies maintain check, petrol-diesel prices may not spike
New Delhi: Consumers in India are unlikely to be overburdened with high retail price of auto fuels – petrol and diesel – following a spike in international crude prices that rose 19 per cent on Monday. Global oil prices are on the boil again in the aftermath of the largest ever-disruption in crude production post […]
Amazon, Flipkart festival sales violate FDI norms: CAIT
New Delhi: Reiterating its demand for ban on festival sales by Amazon and Flipkart, the Confederation of All India Traders (CAIT) on Tuesday said that the two e-commerce majors are flouting the norms for foreign direct investment (FDI) by carrying out festival sales. The traders’ body urged the Commerce Minister to look into the violation […]
‘Petrol, diesel prices may shoot up by Rs 5-6 a litre’
Mumbai: Following the largest ever-disruption of crude production in Saudi Arabia amid drone attacks on its key facilities, prices of petrol and diesel in India may shoot up by Rs 5 to 6 a litre in next fortnight, experts said on Monday. A recent report by Kotak said that in light of the sharp rise […]
Govt sets up Rs 10,000 cr fund for housing projects
New Delhi: With a focus on completing construction of unfinished units, the government on Saturday opened a special window of Rs 10,000 crore fund to provide last mile funding for housing projects which are non-NPA and non-NCLT and are net worth positive in affordable and middle income category. The government will also relax the ECB […]
FM announces Rs 60,000 cr boost to exports, housing
New Delhi: With GDP growth sliding to six-year low of 5 per cent in April-June quarter and several sectors facing low demand, Finance Minister Nirmala Sitharaman on Saturday announced a fresh set of measures to boost exports and the housing sector. The key measures include extending the scheme of Reimbursement of taxes and Duties for […]
Aug retail inflation up at 3.21% on high food prices
New Delhi: Higher food prices pushed up India’s August retail inflation to 3.21 per cent from 3.15 per cent in July, official data showed here on Thursday. However, the Consumer Price Index (CPI) in August was lower than the corresponding month of the last year when retail inflation stood at 3.69 per cent. According to […]
Maths never helped Einstein discover gravity: Piyush Goyal on economy
New Delhi: Commerce Minister Piyush Goyal on Thursday inadvertently erred in attributing the theory of gravity to Albert Einstein while asking the industry not to get into nitty gritties of calculations of growth which requires 12 per cent rate to achieve the envisaged $5 trillion economy. In his address at the Board of Trade meeting […]
SBI cuts lending rates, home loans to get cheaper
Mumbai: Country’s largest lender State Bank of India (SBI) on Monday announced a reduction in its marginal cost-based lending rate or MCLR by 10 basis points across all tenors and has also reduced rates on term deposits. It also lowered interest rates on fixed term deposits across all maturities by up to 25 basis points, the […]