Business, Economy, 11th Oct 2017, News & Stories from India

Friday, Apr 26, 2024 | Last Update : 09:56 AM IST

Business Economy 11 Oct 2017

Business, Economy, 11 Oct 2017

RBI said the operating profit margin declined for the manufacturing and services sectors. (Photo: PTI)

Net profit of listed private firms contracted 21.2 pc in Q1: RBI

Net profit of the companies totalled Rs 44,700 crore in the first quarter of the current fiscal.

11 Oct 2017 8:17 PM

The government has already collected over Rs 95,000 crore as GST in July.

Nearly 46 lakh businesses file GSTR-1 for July

Matching of GSTR-1 and GSTR-2 will be done in the return form GSTR-3, which is to be filed by November 10.

11 Oct 2017 8:03 PM

RBI cut economic growth forecast to 6.7 per cent from earlier projection of 7.3 per cent. (Photo: AFP)

Rathin Roy questions India's growth projections by IMF, WB

IMF lowered India's growth forecast for the current fiscal by 0.5 percentage points to 6.7 per cent.

11 Oct 2017 6:27 PM

Bibek debroy is heading Economic Advisory Council to the PM. (Photo: File)

Stick to fiscal consolidation road map: EAC-PM to govt

Council, which met for first time today, has identified ten themes, including economic growth and job creations.

11 Oct 2017 5:54 PM

Net direct tax collections constitute 39.4 per cent of total budget estimate of direct taxes at Rs 9.8 lakh crore for the current fiscal.

Direct tax collections jump 16 per cent to Rs 3.86 lakh cr in Apr-Sep

Advance tax collections till September stood at Rs 1.77 lakh crore, reflecting a growth of 11.5 per cent.

11 Oct 2017 4:57 PM

Muted demand and high leverage will ensure that a recovery in investment cycle does not happen before FY20, said India Ratings.

Upping govt spending can't revive investments: India Ratings

Growth in gross fixed capital formation, which is a proxy for gauging investments, is also declining, the agency said.

11 Oct 2017 4:41 PM

The Economic Advisory Council led by Bibek Debroy met on Wednesday and identified 10 core issues that it will work on. (Photo: Twitter| Niti Aayog)

PM's Economic Advisory Council identifies 10 focus areas

The Council was set up with the approval of the Prime Minister on September 26, 2017.

11 Oct 2017 4:26 PM

Direct tax collections have seen a 15.8 per cent rise in september, 2017. (Photo: File)

Direct tax collections rise 15.8 per cent to Rs 3.86 lakh crore in September

CBDT reveals growth in personal income tax, PIT, advance tax is 30.1 per cent.

11 Oct 2017 4:18 PM

GST rate on bunker fuel has been slashed to 5 per cent, both for foreign going vessels and coastal vessels, from 12 per cent currently.

Oil drilling rigs import exempt from GST to boost local output

Petrol, diesel, jet fuel (ATF), natural gas and crude oil have been kept out of the GST regime.

11 Oct 2017 2:17 PM

GST is a pan-India taxation system that has subsumed all casacding tax rates.

Only 40 lakh or 62 per cent taxpayers file GSTR-1 in July

Report says deadline for submission of GSTR-1 ended at October 10-11 midnight.

11 Oct 2017 2:16 PM

The Uttarakhand government on Wednesday slashed cess and VAT on petrol and fuel by 2 per cent each. (File Photo)

Uttarakhand slashes VAT, cess on petrol, diesel by 2 per cent

Uttarakhand Finance Minister Prakash Pant confirmed that the government had decided to slash cess and VAT on petrol and diesel.

11 Oct 2017 2:10 PM

India's industrial growth and inflation may trend up as key metrics such as IIP, CPI and WPI are expected to come in higher, said a Morgan Stanley report. Photo: AP

India's industrial growth, inflation likely to rise: Morgan Stanley

India's retail inflation had swelled to 5-month high of 3.36 per cent in August on costlier vegetables and fruits.

11 Oct 2017 1:40 PM

Finance Minister Arun Jaitley is on a week-long visit to the US to attend annual meetings of IMF and World Bank. (Photo: File/PTI)

SC's judgement on privacy protects Aadhar: Jaitley

Finance Minister is in US to attend annual meetings of IMF and World Bank.

11 Oct 2017 12:49 PM

New tax, introduced July 1, caused disruptions to business activity in the manufacturing and services sectors.

Sept inflation seen at 6 month high on GST, public sector pay rise

Annual economic growth dropped to a three year low of 5.7 per cent in April-June quarter.

11 Oct 2017 12:45 PM

The report also estimates that volumes generated by emerging economies will grow by 19.6 per cent, or three-times the rate of mature economies.

Digital payments to grow at 26 per cent CAGR during 2016-2020: report

India could potentially make its way into the global top 10 markets in terms of non-cash transaction volumes.

11 Oct 2017 12:32 PM

The government is considering various measures to mitigate difficulties faced by senior citizens in linking SIM numbers and Aadhaar. Photo: PTI

Aadhaar-SIM linking to get easier for senior citizens

The Supreme Court's order in February 2017 mandated linking phone numbers with Aadhaar for every individual.

11 Oct 2017 12:19 PM

University of Chicago professor Richard Thaler who won the Nobel Economics Prize on Monday for his work on behavioural economics, was stumped by the behaviour of investors. (Photo: AP)

New Nobel Prize economist Thaler stumped by record markets

Thaler said on Tuesday he is puzzled by the steady rise of global stock markets in recent years.

11 Oct 2017 11:24 AM

The newly constituted Economic Advisory Council to the Prime Minister (EAC-PM) will hold its first meeting on Wednesday. Photo: AP

Modi appointed economic advisory council to hold first meet today

The Council will address all issues of emergent importance, will engage with stakeholders and formulate advice accordingly.

11 Oct 2017 10:33 AM

Total bad loans had risen 5.8 per cent in July-December period last year. (Photo: Representational/PTI)

Bad loan crisis worsens as NPAs hit Rs 9.5 lakh crore

Report says stubborn bad debt problem has eaten into bank profits and choked off new lending.

11 Oct 2017 10:27 AM

The series of 'structural' reforms like demonetisation and GST, undertaken by the Modi government have put the economy on a 'far more stronger track', said Finance Minister Arun Jaitley. (Photo: PTI)

Reforms like GST, note ban put economy on 'stronger track': FM

Referring to the series of economic reforms undertaken since 1991, Jaitley said the Indian model now seems to be emerging.

11 Oct 2017 9:56 AM

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Sunil Gatade