BUSINESS
You can’t just call giving bicycles to school-going girls a freebie: JP Morgan’s Aziz
Several experts and institutions including the Reserve Bank of India have consistently highlighted the need to distinguish freebies from public or merit goods, which bring larger economic benefits.
BUSINESS
Won’t be surprised if more global indices include Indian bonds: JP Morgan’s Aziz
JPMorgan Chase & Co on September 22 said it would include Indian government bonds in its GBI-EM global index suite from June 2024. India's weight in the index will progressively increase to 10 percent by March 2025.
BUSINESS
Global uncertainties prompting shift to bilateral agreements: FM Nirmala Sitharaman
Sitharaman emphasised the importance of bilateral agreements between countries and that India and Sri Lanka should also look at such an economic arrangement. She was speaking at the India-Sri Lanka Business Summit in Colombo.
BUSINESS
MC Interview: Would be disappointed if Congress gets less than 2/3rd majority, says Chhattisgarh Deputy CM Deo
Deo says that Chhattisgarh has done better than most other states in economic management and the Congress is focussing on measures that could empower the people economically.
BUSINESS
Assembly Elections 2023: Can higher inflation rates in Rajasthan, Telangana impact the poll outcome?
A common thread between Rajasthan and Telangana is high taxes on fuel, with the latter imposing the highest VAT across all states on petrol and diesel of 35.20 percent and 27 percent respectively.
BUSINESS
Polls, festivals may boost rural demand but premium segment to keep leading
The outlook is bullish for overall festive demand and a significant recovery in rural consumption, encouraged by easing inflation and hopes of doles ahead of the elections
BUSINESS
Centre will ‘comfortably’ meet FY24 fiscal deficit aim even if there is unanticipated spending: Source
While the Ministry of Rural Development has sought more funds for the Mahatma Gandhi National Rural Employment Guarantee Scheme, the finance ministry is yet to take a call on the request.
BUSINESS
India only keeping close watch, monitoring source of laptop imports
The central government will put in place an import management system before October 30, which will be an end-to-end online system to ensure that the process of issuing licences for the import of laptops and related items is streamlined.
BUSINESS
India eyes Brazil's ethanol technology to lower crude oil imports, says commerce secy
India has been accelerating efforts to achieve 20 percent ethanol blending with petrol by 2025 in a bid to reduce reliance on crude oil imports. India is looking to benefit by taking a leaf out of the techniques used by the Latin American nation for ethanol blending
BUSINESS
Trade may take a hit if Israel-Hamas war widens, says commerce secretary
Trade between India and Israel was estimated at $12 billion in FY23. While India's exports stood at $8.4 billion, imports from Israel amounted to $2.3 billion
BUSINESS
Gaming firms may use grey area in GST law to challenge 'retrospective' taxation: Sources
Officials say the centre will leave it to the courts to decide whether the notices sent for the period prior to October 1 for 28 percent GST are valid or not.
BUSINESS
Inflation may stay elevated on global uncertainties, domestic disruptions: Finance minister
Sitharaman's comments on inflation staying firm comes at a time when the ongoing war between Israel and Hamas have sparked worries over its impact on the global economy.
BUSINESS
Cabinet approves royalty rates for mining of Lithium, 2 other minerals
The royalty rates were brought in since unless specifically provided these minerals would have been subject to a higher 12 percent rate of the average sale price
BUSINESS
India-Middle East-Europe Economic Corridor may get delayed over Gaza war
The success of the proposed economic corridor depends on the relationship between Israel and Saudi Arabia improving, but with the conflict escalating between Tel Aviv and Gaza, the future of this flagship project is looking grim.
BUSINESS
Expect oil at $100 if Israel-Hamas war spreads beyond Gaza
Being the world’s third-largest consumer of crude oil, India is particularly vulnerable to any price fluctuations in global oil prices. Experts tell Moneycontrol that India faces the risk of a further surge in oil prices if the ongoing conflict spreads beyond Gaza.
BUSINESS
Festive relief on fuel prices unlikely as oil simmers amid conflict
Reversing last week’s downward trend, oil prices jumped more than 4 percent on October 9 on fears that clashes between Israel and Hamas could spread beyond Gaza. But crude prices had already been hovering at over $90 per barrel for the last few months, with Saudi Arabia and Russia extending cuts and stoking concerns over tight supply.
BUSINESS
Interview: Shaktikanta Das good at short-term fixes, says ex-finance secy Subhash Garg
In a wide-ranging interview with Moneycontrol following the release of his new book 'We Also Make Policy', the former finance secretary also spoke about the influence – or its lack thereof – exerted by political parties' social and economic wings over the finance ministry's policies, and the turn North Block's relationship took with the media in his final weeks in the government
BUSINESS
GST Council Key Takeaways: Human consumption ENA out of GST, tax cuts on molasses, millets
The GST Council also reduced the tax rate on branded, pre-packaged and labelled millet-based flour to 5% from 18%
BUSINESS
GST Council may clarify that exporters can claim input tax credit on INR credited in Special Vostro Accounts
Certain tax authorities have been citing Reserve Bank of India provisions to refuse input tax credit to exporters when they receive INR in Special Vostro accounts, in line with the rupee trade settlement mechanism.
BUSINESS
Would have transferred full surplus to govt had I become RBI Governor: Subhash Chandra Garg
With the former Finance Secretary's new book kicking up a storm, Garg spoke to Moneycontrol on the battle between the government and the Reserve Bank of India over the latter’s surplus distribution policy, shedding light on a key factor that led to him being transferred from the Finance Ministry in July 2019
BUSINESS
Are gaming firms facing retrospective taxation? Maybe in essence, but not in law
The government says the tax notices follow a clarification of the law rather than a change and the demand for dues is not retrospective in nature.
BUSINESS
India must leverage domestic advantages to benefit from China Plus One strategy, write CEA, co-authors
In an article, CEA Nageswaran and his co-authors wrote that over the medium term, India’s value-chain integration with the West would target areas such as renewables and high-end technology, including artificial intelligence, semiconductors and next-generation telecommunication.
BUSINESS
FTSE exclusion confirms index inclusion hurdles remain, but India has little to fret about
Even while acknowledging the advantages of Indian bonds getting included in in global indices, top bureaucrats highlighted the risks associated with this development.
BUSINESS
Amid likely extra pre-poll spending, govt may take borrowing cut call only in Jan-Feb
Finance Ministry expects modest supply in October-March and the euphoria around index inclusion to drive down yields on Indian government bonds by another 6-7 basis points going ahead. But, the recent rise in crude oil prices could weigh in on bond prices
