[ad_1] The Goods and Services Tax (GST) Council meeting this week did not extend the revenue compensation period for states beyond five years, overriding a demand by several states. The rationale behind the compensation was to offset the cost of transitioning to a new tax system. When tax rates were harmonised across the country, some …
If GST compensation has to continue, change the design Read More »
[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 …
[ad_1] With an improvement in the credit growth, banks have been opting to park their surplus funds under the Reserve Bank of India (RBI)’s standing deposit facility (SDF), which is an overnight window, rather than 14-day variable rate reverse repo (VRRR) auctions. As the 50-basis-point (bps) hike in the cash reserve ratio (CRR) kicked in …
Banks switch to overnight window to park surplus funds Read More »
[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 …
Low inflation and higher infra investment key for spurring growth: RBI article Read More »
[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 …
Cryptos can lead to dollarisation of economy, RBI officials tell Parliamentary panel Read More »
[ad_1] The rate hike by the Reserve Bank of India (RBI) to control inflation will lead to a “less high growth rate” for the country, as demand is expected to moderate as a result of the central bank’s move, finance secretary TV Somanathan said on Thursday. “When interest rates go up, demand is expected to …
Repo rate hike may slow growth a bit, says finance secretary Read More »
[ad_1] Finance minister Nirmala Sitharaman on Saturday asserted that the rising interest rate scenario is unlikely to derail the government’s plans for a record budgetary capex of Rs 7.5 trillion in FY23 to spur economic growth. The Goods and Services Tax (GST) Council, the minister said, is unlikely to consider rate rationalisation in its next …
Rate hike not surprising, says FM Nirmala Sitharaman Read More »
[ad_1] Credit and Finance for MSMEs: A year after the government identified total companies with a turnover of more than Rs 500 crore to onboard the trade receivables financing platform TReDS, the registration count is far from 100 per cent. According to the information available from the MSME Ministry, 4,714 such companies were identified by …
