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India to grow at 8 per cent in FY2019, says Goldman Sachs

  28-Nov-2017

The Indian economy is likely to grow at 8 per cent in 2018-19 as the massive bank recapitalisation will help revive the long-stalled credit demand and private investments, according to a Goldman Sachs report released on Monday. The Wall Street brokerage said, the Rs 2.11-trillion bank recapitalisation of public sector banks announced by the...

India may adopt item-based anti-profiteering rules to benefit users

  27-Nov-2017

India is likely to adopt a product-specific approach to impose anti-profiteering provisions to ensure that consumers get the full benefit of price cuts due to the goods and services tax (GST), including recent revisions. This means that a company will not be able to reduce prices of slow-moving products in its portfolio while keeping those of...

Draft national energy policy proposes aligning energy prices with international rates

  27-Nov-2017

A draft national energy policy proposing aligning energy prices with international rates will be put up for the approval of the Cabinet. If approved, energy prices across sectors would become market-driven and subsides would be limited to identified beneficiaries via direct benefit transfer, much on the lines of the LPG subsidy. In June,...

High GST may hit Make-in-India electronics goal

  24-Nov-2017

Prime Minister Modi’s flagship Make In India plan could be hurt by the GST rates that have been set for electronics as some rates make it cheaper to import goods, industry players have said, possibly putting a damper on the government’s goal to achieve zero imports in electronics by 2020. The Manufacturers’ Association for Information...

Will India get another upgrade? All eyes on word from S&P today.

  24-Nov-2017

NEW DELHI: It could be two ratings upgrades in two weeks for India. According to sources in the government, the global ratings agency Standard & Poor’s (S&P) will revise India’s sovereign ratings on Friday. Coming a week after Moody’s upgrade , a first in 14 years, expectations are that S&P too will raise the country’s rating. S&P had...

Govt’s electric vehicle campaign can create $300 billion domestic battery market: NITI Aayog

  23-Nov-2017

Chalking out the road-map for India’s Electric Vehicle (EV) Mission 2030, NITI Aayog on Wednesday pitched for a ‘Make in India’ opportunity for battery manufacturers. The think tank said India’s vision of mass conversion to electric vehicles can create a $300 billion domestic market for EV batteries by 2030. This is around 2/5th of...

GST, digitisation, e-commerce will transform Indian logistic markets, says DHL CEO Ken Allen

  23-Nov-2017

The implementation of the GST, digitisation and growth in e-commerce are set to bring about a greater opportunities for DHL’s operations in India, according to a top executive of the logistic giant. DHL chief executive officer (CEO) Ken Allen said that he sees a strong growth in cargo movements between India and China as the two countries...

China’s Tencent becomes more valuable company than Facebook

  22-Nov-2017

Tencent has become the first Asian company with a market capitalisation of half a trillion dollars. China’s social media and video game giant Tencent became more valuable company than Facebook on Tuesday. Tencent’s Hong Kong-listed shares have doubled in value this year, and on Monday it became the first Asian company with a market...

Relief for customers: FMCG firms slash prices post GST reduction

  22-Nov-2017

GST rates on a number of items have also been reduced from 18% to 12% and from 12 per cent to 5 per cent. FMCG companies, including ITC, Dabur, HUL and Marico, on Tuesday said they have cut prices of various products to pass on the benefits of GST rate reduction to end-consumers. The companies said they will extend the price reduction to...

Vedanta set to overtake Aditya Birla group as largest aluminium maker

  21-Nov-2017

Anil Agarwal-owned Vedanta Ltd is poised to overtake Aditya Birla group as the largest producer of aluminium in the country in the current fiscal. Vedanta, which produced 0.96 million tonne of aluminium across its two facilities in Odisha and Chhattisgarh, is on course to clock an annual output of 1.6 million tonne this year. As against...

12% & 18% GST slabs may be merged, 28% for demerit goods

  21-Nov-2017

The government may combine the 12 per cent and 18 per cent slabs for goods and services tax (GST) into one in the near future and reserve the 28 per cent rate only for demerit goods, said chief economic adviser Arvind Subramanian. While India will never move to a single GST rate, over time there would be a “poor man’s” rate (0 per cent...

GST on white goods may be cut; refrigerators, washing machines could soon be cheaper

  20-Nov-2017

Indian consumers are likely to reap another round of big benefits in the next round of GST rate rejig. As per reports, the government may soon cut rates on consumer durables such as refrigerators and washing machines, which are currently in the 28% tax bracket. The move is likely to be a significant boost for the sector plagued by excess...