ECONOMY & NATION


Moneylife Digital Team 24 May 2017
Terming the procedure to create e-way Bill under the goods and services tax (GST) cumbersome, Tally Solutions Pvt Ltd has expressed concerns about multi-layer declaration of details and verification during the process, which it feels may defeat the core design of GST. "While the proposed...

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The central government's ambitious crop insurance scheme for farmers -- Pradhan Mantri Fasal Bima Yojana -- has put pressure on states even though it succeeded in expanding the farm insurance coverage 50 per cent in a year since its launch.   A senior Agriculture Ministry official...

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The Income Tax Department on Wednesday summoned Rashtriya Janata Dal (RJD) chief Lalu Prasad Yadav's daughter Misa Bharti and her husband in connection with a "benami" property case.   An IT official requesting anonymity told IANS: "We have summoned Misa and her husband Shailesh Kumar...

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The Enforcement Directorate on Wednesday said it has arrested B. Madan, producer of Chennai-based film production and distribution company Vendhar movies, for cheating people of Rs 91 crore on the pretext of providing admission in medical college in 2016.   Madan was arrested on...

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Moody's Investors Services on Wednesday downgraded China's credit rating to A1 from Aa3 citing concerns about the country's growing debt, for the first such rating downgrade by the American agency in twenty five years.   "Moody's expects that economy-wide leverage will increase...

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Indian automobile major Tata Motors Ltd on Tuesday reported a consolidated revenue of Rs 77,272 crore (net of excise) for the fourth quarter of last fiscal -- down from Rs 79,549 crore posted during the corresponding period of the previous year, the company said.   In a statement...

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A court on Tuesday seized the passport of Congress leader Jagdish Tytler and directed the CBI to take action against him for giving false information that no criminal case is pending against him.   Special Judge Bharat Parashar gave Tytler's passport to the Central Bureau of...

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Amit Kapoor (IANS) 23 May 2017
India has become the fastest-growing economy in the world. The next logical steps are to make this trend sustainable and to ensure that the benefits of this growth percolate down to the lowest rungs of the income hierarchy.   The success of these two goals will highly depend on the...

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The Enforcement Directorate on Tuesday arrested the chartered accountant of RJD chief Lalu Prasad's daughter Misa Bharti in connection with an alleged money laundering case.   An ED official told IANS that Rajesh Agarwal was arrested from Delhi for alleged money laundering and...

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The Central Bureau of Investigation (CBI) on Tuesday filed another chargesheet against former parliamentarian Naveen Jindal and others in connection with the alleged irregularities pertaining to the Urtan North Coal Block in Madhya Pradesh.   Taking cognizance of the chargesheet, the...

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Anasudhin Azeez (IANS) 23 May 2017
Local hospitals in Manchester were flooded with injured from an explosion at the Manchester Arena just before 10.35 p.m. on Monday.   The police have confirmed 19 deaths and were treating this as a terror-related incident.   Over 50 young fans of American pop star Ariana...

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At least 19 persons have been killed and 50 injured in a suspected terror attack in a stadium in Manchester, following a concert by singer Ariana Grande, media reports said.   Police were called to reports of an explosion at the Manchester Arena at about 10.35 p.m. (local time)...

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Beijing, Twenty-five Indian doctors and their families, stuck in a hotel in China's Shenzhen city after their travel agent failed to pay the Chinese tour operator, will travel to India on Tuesday.   "They are in Macau and will travel to Mumbai tomorrow," an Indian official at the...

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A Special CBI Court here on Monday sentenced former Coal Secretary H.C. Gupta, convicted along with others in a Madhya Pradesh coal block allocation case, to two-year imprisonment.   Two former Coal Ministry officials -- K.S. Kropha and K.C. Samria -- were also handed two-year jail...

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The Maharashtra Assembly on Monday unanimously passed the State Goods and Services Tax (GST) ratification bill after hectic deliberations at a three-day special session of the state legislature.   The bill is now being discussed in the upper house, the Legislative Council, where it is...

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Moneylife Digital Team 22 May 2017
The Reserve Bank of India (RBI) and Monetary Policy Committee (MPC) provide quarterly projections for inflation and growth during their bi-monthly policy review, which is revised in subsequent reviews. The MPC uses RBI’s various surveys plus staff’s macroeconomic projections to arrive at...

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Finance Minister Arun Jaitley on Monday filed a second civil defamation suit of Rs 10 crore in the Delhi High Court against Chief Minister Arvind Kejriwal over the word "crook" used by his lawyer.   Jaitley sought Rs10 crore as damages after Ram Jethmalani used objectionable words...

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In the polarised times that we live in, an assessment of three years of the Narendra Modi government is best reflected by two extreme hashtags --#TeenSaalBemisal and #3FailedYears. What you see depends on where you stand on the ideology front, with little room for nuance.   For those...

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The Goods and Services Tax (GST) Council concluded its latest round of meetings on Friday with the decision to apply the same four tax rate slabs for services as for goods, exempting, however, healthcare and educational services from the purview of the GST.   Speaking to reporters...

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With the Goods and Services Tax (GST) Council deciding the tax rate on 1,211 goods on Thursday, there is cheer for the common man as 81 per cent of the goods are below 18 per cent, though people will have to shell out more even for small segment cars with additional cess levied on...

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