June Quarter Current Account Deficit Widens To Four-Year High

Mumbai: India’s April-June current account deficit widened to its highest in four years as imports surged, but strong capital inflows comfortably financed the gap, data from the Reserve Bank of India showed on Friday. The current account deficit widened to 2.4 per cent of gross domestic product, or $14.3 billion, as imports pushed the trade deficit More...

by Loknath Das | Published 1 week ago
By Loknath Das On Saturday, September 16th, 2017
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RBI To Sell Rs. 10,000 Crore Government Bonds Via Open Market Operations

Mumbai: The Reserve Bank today said it would sell government bonds worth Rs. 10,000 crore through Open Market Operations (OMO) to mop up liquidity from the system. “Based on the current assessment of prevailing More...

By Loknath Das On Wednesday, September 13th, 2017
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As India Inc Struggles To Cut Down Debt, Economy Suffers

Mumbai: Cash crunch and confusion over the introduction of GST (Goods and Services Tax) were initially blamed for pulling economic growth down to its weakest pace in more than three years. But that is masking a More...

By Loknath Das On Monday, September 11th, 2017
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Government Activates Online System To Resolve Foreign Trade Issues

New Delhi: The government has activated an online system for resolution of foreign trade related issues. “[email protected] system has been activated at the DGFT (Directorate General of Foreign Trade) website More...

By Loknath Das On Friday, September 8th, 2017
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21,000 People Disclose Rs. 4,900 Crore Black Money Under PMGKY: Report

New Delhi: Black money worth Rs. 4,900 crore was disclosed by 21,000 people under the Pradhan Mantri Garib Kalyan Yojna (PMGKY), the stash money declaration window announced by the government post demonetisation, More...

By Loknath Das On Friday, September 8th, 2017
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Donald Trump Promises Tax Reforms To Bring Back ‘Trillions Of Dollars’

Washington: United States President Donald Trump has said that he would bring in a new tax regime in the US that will induce American businesses to bring back “trillions of dollars” stacked abroad. More...

By Loknath Das On Sunday, September 3rd, 2017
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99% Of Banned 1000, 500 Rupee Notes Returned, Says RBI

The Reserve Bank of India (RBI) in its annual report released today revealed that about 99 per cent of the banned 500- and 1,000-rupee currency notes returned. According to RBI estimates, a total of Rs. 15.28 lakh More...

By Loknath Das On Sunday, September 3rd, 2017
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Arun Jaitley says fewer GST slabs possible in the future

Finance minister Arun Jaitley on Thursday indicated that the number of tax slabs under the goods and services tax (GST) regime could be reduced once the new indirect tax system that was launched on 1 July settles More...

By Loknath Das On Thursday, August 31st, 2017
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Cabinet Approves Raising Levy On Luxury Cars, SUVs

New Delhi: The cabinet on Wednesday approved raising the maximum levy on large and luxury cars and sports utility vehicles (SUVs), Finance Minister Arun Jaitley said, adding that a panel of central and state finance More...

By Loknath Das On Thursday, August 31st, 2017
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SUVs, Luxury Cars To Cost More As GST Cess Hiked To 25%: Report

Sport-utility vehicles (SUVs), luxury and midsized cars that had become cheaper after the rollout of GST (Goods and Services Tax) on July 1 are set to cost more. The Cabinet today approved raising of cess on luxury More...