BUSINESS
Group of ministers' panel on GST on casinos, gaming may stick with 28% taxation decision
The GoM had recommended taxing online gaming, casinos, and race courses at a uniform 28 percent in its June report. Since a consensus has not evolved since then, the panel is likely to stay with the original decision
BUSINESS
Centre releases Green Bonds framework; large hydropower plants ineligible for financing
Announced by Finance Minister Nirmala Sitharaman in her FY23 budget speech in February, India is set to issue its maiden sovereign Green Bonds this financial year
POLITICS
Former PM Manmohan Singh calls on media to be vigilant, point out govt shortcomings
The former prime minister also said "governments come and governments go" but India's past was one of continuity and change.
POLICY
GST system needs more resources, attention to improve: Tamil Nadu's PTR
Tamil Nadu's finance minister also expressed concern about the low frequency with which the GST Council has been meeting.
ECONOMY
Bibek Debroy bats for single GST rate, removal of tax exemptions
Debroy argued that it is the direct tax system that must be progressive, and not the indirect tax regime. As such, the GST rate should not depend on what the product is
BUSINESS
Fitch's Zook says India may miss fiscal deficit targets for this fiscal and FY26
The government aims to lower the budget gap to below 4.5 percent by FY26 from 6.4 percent in FY23. This roadmap does not contain targets for each of the years until FY26.
BUSINESS
Businesses expect inflation below 5% but uncertainty a cause for worry
As per IIM-A's Business Inflation Expectations Survey, one-year-ahead inflation expectations of Indian companies fell by 35 basis points from August to 4.74% in September
BUSINESS
Global spillovers on India’s G-20 presidency agenda: FM Sitharaman
India, which assumes the presidency of the G-20 in December, said countries have had to tackle a variety of global spillovers, including supply disruptions, Russia’s invasion of Ukraine, and monetary policy tightening
BUSINESS
India to look for consensus solutions to virtual assets during G-20 presidency, says CEA Nageswaran
Nageswaran’s comments come even as the Indian government’s stance on cryptocurrencies is awaited
POLICY
Must balance climate considerations and growth hopes, says CEA Nageswaran
Nageswaran’s comments come before India assumes presidency of the G-20 in December
BUSINESS
CEA Nageswaran says cutting public debt best stimulus govt can give
While Nageswaran was optimistic about the sustainability of India’s debt, Poonam Gupta from the PM’s Economic Advisory Council said it was hard to see the debt-to-GDP ratio returning to pre-COVID levels in the next decade
BUSINESS
MC Explains | Five questions answered as RBI rate-setting panel meets today
At its meeting next week, the MPC will deliberate the RBI’s response to the government after failing to meet the inflation mandate
BUSINESS
Raghuram Rajan says India's job situation 'really alarming', needs equal focus on services
The former central banker expresses concern over the Centre's production-linked incentive schemes for the manufacturing sector, saying the money could be better spent elsewhere
BUSINESS
UCO Bank, YES Bank working with Russian banks on rupee trade settlement, says government source
The RBI, on July 11, had announced the setting up of a mechanism to settle global trade in rupees
BUSINESS
Road ahead for RBI: From monetary policy to inflation failure and fixing the blueprint
The September retail inflation print released on October 12 confirmed the Indian central bank had failed to meet its mandate for the very first time. This warrants a fresh scanner on the recent past, the present, and immediate future of India's monetary policy
BUSINESS
RBI fails to meet price mandate as CPI inflation rises to 7.41% in September
Inflation has now completed three full years above the Reserve Bank of India's medium-term target of 4 percent. More importantly, it has been outside the mandated 2-6 percent band for three consecutive quarters
BUSINESS
RBI failure looks imminent as CPI inflation seen rising to 7.3% in September
The statistics ministry will release CPI inflation data for September and IIP growth for August later today, with the former set to complete three full years above the RBI's medium-term target of 4 percent and three consecutive quarters outside the 2-6 percent tolerance range
BUSINESS
Worst is yet to come, warns IMF's top economist Pierre-Olivier Gourinchas
Gourinchas has also said it will be best if central banks of emerging and developing countries let their exchange rates adjust and conserve foreign exchange reserves for when conditions worsen
BUSINESS
IMF lowers India's FY23 growth forecast to 6.8% on slower revival, tepid demand
The multilateral agency's latest cut to its India growth forecast takes it below that of the Reserve Bank of India
BUSINESS
MPC's Ashima Goyal says CPI basket needs updating, core inflation may be better target
Writing in a paper, the external member of the Reserve Bank of India's rate-setting panel said the inflation measure has to be reliable, which requires frequent updates to the Consumer Price Index basket
BUSINESS
Countries told to 'urgently re-examine' curbs imposed on agricultural trade
The joint statement from heads of the Food and Agriculture Organization, International Monetary Fund, World Bank Group, World Food Programme, and World Trade Organization comes hours after Russian President Vladimir Putin announced a "partial military mobilisation."
BUSINESS
Disappointed by pushback from local industry in trade matters, says Minister Piyush Goyal
The commerce minister added that the UK is keen to finalise the Free Trade Agreement with India by the original deadline despite the setback caused to the process by the demise of Queen Elizabeth II
BUSINESS
Need less talk, more global co-operation on climate change, says FM Sitharaman
The finance minister said the cost of transitioning to renewable energy for countries such as India is far higher than it should be
BUSINESS
India's oil imports from Russia jumped to 18% of crude purchases in July
Russia, India's second-largest source of petroleum crude, is on track to overtake the leader, Iraq, in the coming months
