Liquor and fuel should not come under GST, he added. States should have some independence for generating their own economy, the minister further said. On the current prices of petrol and diesel hovering above Rs 80 and Rs 70 respectively, the minister said instead of suggesting to states to reduce VAT on the products, the central government should cut excise duty and bring prices down.
Manufacturing sector, which accounts for more than three-fourths of the entire index, came in at 5.2 percent in April as compared to 4.4 percent in March
"This (bringing petrol and diesel under GST) is not a correct decision. It would hurt the federal spirit of our country. If these products are brought under GST, state finances will be further reduced," he said.
FCI along with state agencies has bought record 35.19 MT of wheat in the 2018-19 marketing year (April-March) on the back of bumper crop. These agencies together have foodgrain storage capacity of around 80 MT.
Newer traits are not available after Monsanto in 2016 withdrew an application seeking approval for the latest variety due to a royalty dispute with the government
Pradhan, on a visit to the city to promote bidding for city-gas distribution licences, said, "For this, based on co-ordination, a way will be evolved. There is a provision of ethanol blending up to 10 per cent. In the coming days, there will be immense possibilities about use of ethanol. The farmers will also benefit from this in a major way."
"Q1 2018 was the best quarter on record for solar installations in India, with 3,269 MW, a 34 per cent increase compared to 2,448 MW installed in Q4 2017. Installations were also up when compared to the 2,991 MW installed in Q1 of 2017," Mercom Communications India said in a statement.
There is a need to increase the value of pension under APY, Madnesh Kumar Mishra, Joint Secretary, Department of Financial Services (DFS), said at a conference organised by PFRDA.
"I am hopeful of getting Cabinet approval on NDCP (6x increase in public spending from Rs 9,000 crore in 2009-14 to Rs 60,000 crore in 2014-19 (actual +planned) by end of July," he said while talking about the achievement of the government in the last 4 years.
Sources present at the meeting of the Parliamentary Standing Committee on Finance said the RBI Governor expressed confidence of tiding over the crisis regarding non-performing assets (NPAs).
According to Platinum Guild International, MD, Vaishali Banerjee, as per the fifth annual report of Platinum Jewellery Business Review, a strong consumer retail sales was reported in United States, Japan and India in 2017.
Of the total cost of the project estimated to be around Rs 57,000 crore, R&R of evacuees would only require Rs 21,027 crore, the Chief Minister said while addressing a public meeting at the Polavaram project site yesterday.
"In the next two to three years, we need total investment of USD 800 billion to USD 1 trillion in infrastructure," its chief executive Sujoy rpt Sujoy Bose said at at a finance ministry-organised seminar here.
At a function organised here on the occasion of the 43rd establishment day of the Bihar Rajya Pul Nirman Nigam Ltd, 122 schemes were inaugurated or their foundation stones laid down by the chief minister.
Fuel consumption, a proxy for oil demand, totalled 18.72 million tonnes last month, during which diesel sales soared to 7.55 million tonnes and petrol consumption climbed to 2.46 million tonnes - the highest monthly sales figures in PPAC data going back to April 1998.
Modi's office is now monitoring the project week-to-week, as Indian officials seek to reassure Tokyo that the hurdles can be overcome through intense negotiations with sapota and mango growers in Maharashtra.
The railways seeking foreign investment in areas such as technological upgradation and modernisation had raised concerns over the national transporter being handed over to private entities. This concern was flagged by the railway unions which demanded more clarity from the ministry.
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 Labour Bureau conducts two major surveys on employment scenario - Annual Employment-Unemployment Survey (EUS) and Quarterly Employment Survey (QES).
"As far as Mumbai customs zone is concerned, we have disbursed IGST refunds of Rs 6,467 crore, since the inception of GST. Of this, we were able to disburse Rs 1,181 crore in the refund drive observed in March this year," Mumbai's chief commissioner of customs, Rajiv Tandon, said today.
"This was the second refund drive initiated by the department after the successful rollout of the first refund drive from March 15 to March 30," Jyotishi said. Under the special refund drive Rs 197 crore has been disbursed, the officer said adding that 96 per cent of the claims havebeen cleared and remaining is still under process.
The Department of Telecom (DoT), on the occasion, launched 5,000 wifi choupals in partnership with CSC which will provide 60,000 wifi hotspots in rural areas.
About 35 companies and industry associations, including CII, Retail Association of India, Hind Terminals, Amazon, Flipkart, Alcargo Logistics, Reliance Retail, Om Logistics etc participated in the session.The common refrain at the session was that Haryana has huge potential for growth in these sectors, he said.
"That 2G was not really a scam but a fake perception created by circumstances (that included the CAG, national media and the Opposition) is clearly established by the judgment of CBI Special Court Judge Saini," he said.
Weakness in US dollar amidst slight reversal in US treasury yields also helped the domestic currency recoup some losses.