The 4th meeting of the group of ministers (GoM) looking into its related issues of the goods and services tax (GST) is currently underway in Bengaluru. The GoM could also be giving additional tasks to Infosys to be looked into in the GST network.
The world's biggest importer of edible oils also raised the import tax on crude soyoil to 30 percent from 17.5 percent earlier. It raised the import tax on refined soyoil to 35 percent from 20 percent earlier, it said.
This blog will keep track of key global and local developments impacting business and markets through the day. Important local and global political developments will also find resonance here.
The 10-year benchmark bond yield opened at 6.94 percent on Friday, 12 basis points higher than its previous close, and ended nearly flat at 7.05 percent.
Vodafone reportedly wants to push for arbitration under the India-UK bilateral treaty after already having done so under the India-Netherlands bilateral treaty.
Foreign exchange earnings (FEEs) from tourism in October this year registered an increase of Rs 2,254 crore, compared to October 2016, the Tourism Ministry said on Friday.
The income-tax department on Friday seized about Rs 11 crore cash as part of its searches in the tax evasion probe against a broker and others said to be involved in the high-profile co-location case.
A key suggestion before the central bank is whether to shift the loan pricing system from an internal benchmark to an external benchmark.
Prime Minister Narendra Modi's push to digitize the Indian economy has seen the introduction of Aadhaar — a unique identification number based on biometric information issued to residents of India — and attempts to reduce dependency on physical cash, although last November's surprise demonetization drive caused plenty of disruption.
If rupee continues to strengthen, the crude cost may reduce, MK Surana, CMD of HPCL said.
The government reforms, the growth potential and the macro stability are a big positives for the economy going forward, said Upasana Chachra, India Economist at Macquarie Capital Securities.
"The total production of foodgrains in the state was 185.61 lakh tonnes in 2016-17, which is a record. The previous record was 178.29 lakh tonnes, achieved in the year 2012-13", Principal Secretary, Agriculture, Sudhir Kumar said.
The former Union minister, who was speaking at an event here last evening, also criticised the BJP-led government over the way GST was rolled out, although, he said, the concept of one nation one tax was "a great idea."
The US-based Moody's today upgraded India's sovereign credit rating by a notch to 'Baa2' with a stable outlook, citing improved growth prospects driven by economic and institutional reforms. The rating action may act a catalyst of sorts for those foreign investors eyeing India, say analysts.
The rating agency has upgraded the ratings for the four financial institutions to Baa2 from Baa3.
Deepak Parekh, Chairman, HDFC said the rating agencies have not been fair to India, the upgrade was long overdue.
In comparison, these funds had registered an infusion of USD 256 million in October last year, according to a report by Morningstar.
In effect, India has become the largest economy among Baa2-rated sovereigns, according to Moody's.
Tyagi also said the rating upgrade to Baa2 would further boost investments including foreign inflows.
The US-based Moody's upgraded India's sovereign rating after a gap of 13 years to Baa2, with 'stable' outlook, from Baa3 earlier, citing improved growth prospects driven by economic and institutional reforms. "Moody's upgrading India's Ratings is a reflection of India growth story and sound economic principles for a #NewIndia.
Rating agency Moody’s lifted India’s government bond rating to Baa2 from Baa3. The agency also changed its outlook to stable from positive.
Jaitley said the government will maintain fiscal discipline and will "continue to maintain the glide path."
The green panel, however, refused to lift its ban on industrial activities causing pollution in the Delhi-National Capital Region region.
The central bank is likely to set March 31, next year, as the deadline for the banks to resolve the issue or go ahead with bankruptcy proceedings against the borrowers, a finance ministry official told ET.
It is far better to play the corporate facing private sector banks like Axis and ICICI Bank than PSU banks, said Suresh Ganapathy, Banking Analyst, Macquarie Capital Securities.