Service sector firms valued at Rs 500 crore or more account for more than 60% of the capex and 70% of the output, a study has found
The options before the authorities include a change in the GST law with an additional clause or adding its definition with a slight change in processes for the industries that work differently.
The country's Purchasing Mangers' Index (PMI) — a closely watched indicator of a country's business strength — was 46.1 in September, down from 47.6 in the previous month.
Gary Dugan of RBS-Wealth Division talks about the recent currency crash in Asia, where the rupee is headed in the days to come and why you would be lucky, if you are able to find a three-bedroom apartment anywhere in one of the major cities of the world, for less than USD 100,000.
The HSBC-Markit Purchasing Managers' Index for service sector fell to 51.7 in June from May's high of 53.6 reflecting bad or no growth in the sector. New businesses have seen the slowest pace in two years.
A survey by Bank of Japan revealed that the sentiment among Japanese manufacturers had turned positive in the past three months. The service sector was also positive on robust private bank consumption.
India's services sector activity expanded in May and the pace was the fastest in three months, driven by up tick in new orders.
"Service sector activity picked up pace in May led by firmer order flows. Moreover, companies were more optimistic about the domestic and global economic outlook," HSBC Chief Economist for India & ASEAN Leif Eskesen said.
In an interview to CNBC-TV18, Sonal Varma of Nomura Financial Advisory & Securities says the numbers are along expected lines.