India Inc today demanded lower interest rates, investment stimulus and clarity in tax laws from Finance Minister P Chidambaram, to tide over declining manufacturing sector growth and reverse the economic slowdown.
As the market looks forward to some action from the Reserve Bank of India, Sanjeev Prasad of Kotak Institutional Equities feels the policy will remain unchanged given that there is a lot of suppressed inflation in the economy.
CNBC-TV18's Aakansha Sethi explains that the state-governments demanded for compensation from the Centre for a cut in the Central Sales Tax (CST) at a meet in New Delhi on Friday.
States today asked Prime Minister Manmohan Singh to resolve the CST compensation issue by August 7 so that there is no "trust deficit" before introducing GST, dubbed as a big-ticket tax reform.
States have told Prime Minister Manmohan Singh that the Centre's refusal to compensate them for revenue losses due to reduction in CST rate could derail introduction of Goods and Service Tax, dubbed as a big-ticket tax reform.
Global banking major Standard Chartered today said the possibility of a sovereign rating downgrade to the junk status is unlikely given the recent revival in sentiment.
The Federation of Indian Chambers of Commerce and Industry (FICCI) has said retrieving black money from abroad could be one of the solutions to bring economy back on track.
The standing committee of finance headed by Yashwant Sinha on Friday discussed the Goods and Services Tax (GST) Amendment Bill in a meeting held in Delhi, reports Siddharth Zarabi of CNBC-TV18.
With the implementation of GST still a long way off, India Inc seems to be getting restless. To begin with, there is still no availability of cross credit on service tax and VAT. Consequently stakeholders are being subjected to double taxation both by the centre and the state, reports CNBC-TV18's Ashmit Kumar.
In an interview with CNBC-TV18, Adi Godrej, Chairman, Godrej Industries expects strong growth in Godrej Consumer Products in the next fiscal too. He said that the company is doing exceptionally well in the domestic front.
The one year-deferral of GAAR is not on account of any fear or apprehension, asserted finance minister Pranab Mukherjee and warned that India cannot become tax havens just to attract foreign investors. The 30-minute long speech while presenting the finance bill veered around tax direction, crude prices and urgent fiscal action.
The Indian economy has been witnessing sub-7% GDP growth for a year now. Sanjay Nayar, chief executive officer and country head, KKR India feels, given the structural and cyclical issues facing our economy, investors should get used to 6-7% growth rate.
Warning bells have already been rung loud and clear for the government to stand up and assure that there is "no need to panic". On the back of policy overhang slowing down economic growth and widening current account deficit, India is already facing a risk of possible downgrades.
After the flak over his remarks to a think tank in Washington, chief economic advisor Kaushik Basu feels India will see "some important" reforms in the next six months, including on subsidies and may be partial diesel decontrol and FDI in retail.
Soon after taking over as the President of Confederation of Indian Industry (CII), Adi Godrej, chairman of the Godrej Group is batting for early implementation of goods and service tax (GST) in India.
Adi Godrej, chairman of the Godrej Group, has been elected as the president of Confederation of Indian Industry (CII). He succeeds Tata Steel managing director B Muthuraman.
India will implement the direct tax code (DTC) from April 1, 2013, Finance Secretary RS Gujral told CNBC-TV18 on Thursday.
The chairman of states council Sushil Modi said that the government is targeting April 1, 2013 for introducing the goods and service tax (GST), reports CNBC-TV18's Akanksha Sethi.
The introduction of retrospective taxation on overseas transactions is not desirable, as it might create a conflict between the Judiciary and the Legislature, a top executive of the Indian Council for Research on International Economic Relations said today.
Buying branded apparels is not going to get any cheaper despite the Budget providing partial relief in excise duty for the sector. On the contrary, manufacturers are contemplating price hikes, find out Farah Bookwala and Payaswini Upadhyay of CNBC-TV18.
Budget 2012 saw the healthcare and pharmaceutical sector getting quite a few mentions. While these brought some booster shots for the industry, Players are not jumping for joy, reports CNBC-TV18’s Archana Shukla.
In an interview to CNBCTV-18 Shailesh Haribhakti talks about the current environment and the possible action that the RBI will take, keeping in mind the way EPF rate was just a day before the Budget.
Given that the Budget proposals have been presented a day after March 15, we must hope that Shakespeare's admonition to "Beware the Ides of March" remains within the confines of classical literature.
In a panel discussion on CNBCTV-18's The Verdict, M Laxminarayan talks about the political logjam which is affecting the implementation of the GST.
HP Ranina, one of India's foremost corporate tax lawyers, explained that the tax rollback from 14% to 12% was a step in the right direction. He also highlighted the dilemma on the implementation of GST