economy

5 Years Of GST – III: Administrative systems get strong after initial lapses

While keeping land & immovable property and electricity outside the purview of the Goods and Services Tax (GST) has impaired its construct, a series of steps taken after the legislation’s July 2017 launch, including addition to the list of exemptions, levy of tax without input credit in certain areas, “composition scheme” for small taxpayers and

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Indian economy has strong fundamentals to meet challenges: Sitharaman

[ad_1] NEW DELHI: The Indian economy could navigate through serious global challenges such as Covid-19 and surging inflation due to the Ukraine war because of its strength thanks to policy measures undertaken before the pandemic hit in March 2020, finance minister Nirmala Sitharaman said on Wednesday. She said the measures included banking reforms, corporate tax

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RBI MPC expected to hike rates by 20-40 bps in June meet but inflation may not ease anytime soon | INTERVIEW

[ad_1] With the Reserve Bank of India’s (RBI) Monetary Policy Committee (MPC) beginning its three-day deliberations today, Jyoti Prakash Gadia, Managing Director at Resurgent India believes rate hike in the June meeting is a certainty. In an interview with Kshitij Bhargava of FinancialExpress.com, Gadia said that a 20-40 basis point rate hike can be expected

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Economy gathering momentum: GST mop-up past Rs 1.4 trillion in May too

[ad_1] Goods and services tax (GST) collections crossed Rs 1.4-trillion mark for the third month in a row in May 2022 and came in at the fourth-highest level since the launch of comprehensive consumption tax about five years ago. The continued buoyancy in GST receipts over the last few months denotes the economic momentum is

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Low inflation and higher infra investment key for spurring growth: RBI article

[ad_1] Amid global challenges, controlling inflation, improving infrastructure, and macroeconomic stability are critical for reviving animal spirits and spurring growth, said an article published in the RBI Bulletin on Tuesday. The article titled ‘State of the Economy’ notes that the Indian economy consolidated its recovery, with most constituents surpassing pre-pandemic levels of activity. It said

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Cryptos can lead to dollarisation of economy, RBI officials tell Parliamentary panel

[ad_1] Cryptocurrencies can lead to “dollarisation” of a part of the economy which would be against India’s sovereign interest, top officials of the RBI have told a parliamentary panel, according to sources. Briefing the Parliamentary Standing Committee on Finance chaired by former minister of state for finance Jayant Sinha, top officials of the RBI, including

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