Category: Economy

Cabinet clears setting up of GST anti-profiteering authority

  Cabinet has approved creation of National Anti-profiteering Authority (NAA) under GST, to ensure benefits of reduction in indirect tax rates are passed on to consumers. The authority will comprise a standing committee, screening committee in every state and Director General of safeguards in the central board of Excise and customs. The constitution of NAA

Three-day mega food fair attracts investment worth 19 billion dollars

  Investment of around 19 billion dollars were committed during the three day mega food event- World Food India which concluded yesterday. The event achieved a resounding success and saw participation from 60 countries and over 50 global CEOs. The conference witnessed participation of 10 thousand participants and over 8 thousand business to business and

India slips 21 slots on WEF Gender Gap index 2017

  India slipped 21 places on the World Economic Forum’s (WEF) Global Gender Gap index to 108, behind neighbours China and Bangladesh, primarily due to less participation of women in the economy and low wages. According to the WEF Global Gender Gap Report 2017, India has closed 67% of its gender gap, less than many

Sovereign Gold Bond rate fixed at 2,934 rupees per gram

  The price of the new series of Sovereign Gold Bonds (SGBs) has been fixed at 2,934 rupees per gram. The government, in consultation with the Reserve Bank, has decided to offer a discount of 50 rupees per gram to investors applying online and making payments digitally. This round is part of the SGB calender

India’s forex reserves fall to $398.8 billion

  Reserve Bank of India data showed that India’s foreign exchange reserves fell for the second straight week to $398.761 billion. The reserves, which act as a cushion against dollar outflows, fell $1.560 billion in the last two weeks amid concerns over tightening of global monetary easing. While RBI does not provide reasons behind fall

India to be high middle income economy by 2047: World Bank CEO

  The World Bank has said that the Goods and Services Tax (GST) and reforms push by the government will catapult the country to high middle income economy in 30 years.  It credited India’s extraordinary achievement of quadrupling of per capita income to reforms taken in last three decades. Comparing the achievement of securing 100th

India tops domestic air passenger traffic in September, China second: IATA

  According to global airlines’ grouping IATA, India’s domestic aviation sector grew the fastest in September as the country registered double-digit growth for 37 consecutive months. In September, India recorded a growth of 15.5 per cent while the global demand stood at 5.7 per cent. Revenue Passenger Kilometres (RPKs) is a measure of demand. The