BUSINESS
Logistics cost likely down to 10% of GDP on infra facelift, faster freight: CBIC chairman
Agarwal pointed out that logistics costs in developed nations are typically 8-9 percent of the GDP to stress on India’s need to narrow the gap further
BUSINESS
GST Council likely to approve rules for Invoice Management System to tackle fake invoicing, tax evasion
Rules for IMS have been prepared by the GST law committee. Businesses, particularly MSMEs, may face additional costs for IT upgrades and integrating IMS into their systems
BUSINESS
GoM on cess likely to seek six-month extension from GST Council on December 21 meet: Sources
The GoM was initially scheduled to submit its report by December 31, 2024
BUSINESS
Jal Jeevan Mission took tap water to 78% of all India's rural housholds until Oct 2024: SBI Report
The mission has been backed by an estimated outlay of Rs 3.60 lakh crore, with the central government contributing Rs 2.08 lakh crore and state governments sharing Rs 1.52 lakh crore.
BUSINESS
GDP growth slowdown to 5.4% may be a temporary blip or have long-term implications: CEA
“We are at this stage not necessarily ruling out that it could be very temporary or mundane or something more serious. These developments may have longer-term implications for urban household income, consumption, and savings patterns compared to pre-COVID times."
BUSINESS
Mobility, not migration, key in FTA negotiations: Commerce Secretary
For our GDP and exports to grow, we need to focus on digital literacy, says Barthwal
BUSINESS
India must double down on domestic growth to sustain momentum amid global uncertainty: CEA
Private sector is also starting to deploy its capital, and that will continue. Capital formation as a share of GDP is likely to be 35 percent in five years from 30.8 percent, says Anantha Nageswaran
BUSINESS
Dont hinder innovation, but be more conscious of cost, benefits of crypto, online gaming: CEA
Regulators need to be cautious of their unelected powers, they need to be accountable, says CEA
BUSINESS
Inflation, debt, supply chain hurdles call for integrated action from govt, industry: FM
FM Nirmala Sitharaman said that the agri stack will be the next big thing from India after digital public infrastructure
BUSINESS
Rate changes not a part of the Income-Tax Act review, says govt official
The income tax review committee is to looking to finalise and submit all the 23 reports by mid-December
BUSINESS
Aim to earn 5 times of stipend cost from Bima Sakhi scheme: LIC MD & CEO
In the first year, the cost of stipend will be at Rs 840 crore. But we expect five times of the stipend cost as premium income in the first year, says Siddhartha Mohanty
BUSINESS
Shift policy focus from revenue maximisation to fostering growth, economists tell FM in pre-budget meet: Sources
The economists sought a relook at the current trajectory of fiscal consolidation and urged a re-evaluation of key taxation policies in order to boost growth
BUSINESS
Warmer winter could impact crop yields, delay moderation in food inflation: Experts
Former Agriculture Secretary Siraj Hussain told Moneycontrol that delayed wheat sowing, particularly in Punjab due to the harvesting of paddy, could amplify the impact of high winter temperatures.
BUSINESS
No cut in repo rate by RBI was expected amid high inflation: Economists
"However, the cut in the CRR by 50 bps would help support growth, after the sharp downward revision in the forecast for FY2025."
BUSINESS
Centre may seek higher share in tax devolution from 16th Finance Commission
The Centre’s demand for a larger chunk in the devolution pie could very well be at crosshairs with states, with some seeking a hike in their stakes in the divisible pool of taxes to as much as 50 percent
BUSINESS
4,869 kg of smuggled gold seized in FY24, Myanmar border major smuggling route
Smugglers, who are getting increasingly smart, are making the most of porous borders in the Northeast and India’s voracious appetite for gold
ECONOMY
FM Nirmala Sitharaman holds meet for ‘big ticket’ budget reforms
Internal discussions and pre-budget meetings are underway in the Finance Ministry.
BUSINESS
GST GoM on cess likely to seek extension from Council, examining legal aspects
The GoM was initially scheduled to submit its report by December 31, 2023. However, its deliberations are ongoing, with additional legal and procedural complexities to address.
BUSINESS
MC Exclusive: GST GoM proposes rate tweaks on 148 items, Textile sector braces for major rejig
The GoM has recommended increasing the rate to 28 percent for several luxury goods which are highly priced in textiles, wrist watches, etc.
BUSINESS
Balanced approach to retrospective taxation needed for online gaming: Pinki Anand
She was speaking at the Skoch Summit on ‘New Dimension in Inclusive Growth,’ held on November 30.
BUSINESS
Time to simplify GST with fewer rates to curb misclassification, boost compliance: Govinda Rao
"Catering is taxed at 18 percent, but non-star hotel restaurants face a 5 percent tax. If the restaurant is providing catering service, it leads to scope for mis-classification and tax evasion."
BUSINESS
Expect capex push to revive momentum in GDP growth: CEA
"The global developments have shown up, export orders have moderated. There is a spillover of global factors on domestic manufacturing. We should be realistic about growth in a global context."
BUSINESS
Customs duties to soon be payable via UPI, debit and credit cards: Revenue Secretary
Currently, customs duties in India can be paid through net banking, over-the-counter payments, etc.
BUSINESS
India talks to Japan, South Africa to expand trade ties through AEO programme: CBIC chairman
The clearance time for AEO-certified businesses is approximately 40 percent lower compared to non-certified entities
