Business, Economy, 18th Jul 2017, News & Stories from India

Saturday, Apr 20, 2024 | Last Update : 04:53 AM IST

Business Economy 18 Jul 2017

Business, Economy, 18 Jul 2017

Telangana Chief Minister K Chandrasekhar Rao directed officials to ensure that all the traders in the state migrate to the GST regime by July end.

Officials must ensure all traders migrate to GST by July end: Telangana CM

He instructed officials to organise statewide conferences to educate people on the positive aspects of the GST.

18 Jul 2017 6:09 PM

Old Rs 1,000 and Rs 500 notes were cancelled on November 8 last year.

Not possible to isolate note ban impact on GDP: Govt

Growth rate of GDP at constant market prices for 2015-16 and 2016-17 was 8 per cent and 7.1 per cent respectively.

18 Jul 2017 5:52 PM

NITI Aayog Vice-Chairman Arvind Panagariya said India's GDP could rise to about USD 8 trillion over the next 15 years.

Niti Aayog's Panagariya expects Indian GDP to hit USD 8 trillion in 15 yrs

anagariya added that currently Indian economy is on a much more stable path than it was between 2004-2014.

18 Jul 2017 5:36 PM

The gross NPAs of the banking sector were at about Rs 7.28 lakh crore.

RBI not reviewing 90-day NPA classification window: Govt

Gross of NPAs of the public sector banks totalled more than Rs 6.41 lakh crore at March end.

18 Jul 2017 4:36 PM

Finance Minister Arun Jaitley. (Photo: PTI)

Jaitley rules out lowering GST rate for textiles sector

GST rate structure for the textiles sector enables ease of classification and determination of rate.

18 Jul 2017 4:25 PM

Cash deposits in banks has seen a substantial rise after high value notes were banned.

Rs 10 lakh or more deposited in 36 lakh bank accounts

MoS for Finance Santosh Kumar Gangwar did not specify for which financial year such deposits were made.

18 Jul 2017 3:16 PM

The extra provisioning, which directly impacts the bottomlines, will eat into banks profits by around 25 per cent in FY18.

IBC: Banks to set aside Rs 18,000 cr in FY18, expect 25 per cent profit

SBI had conceded that it will require more provisions but ruled out big impact on profits.

18 Jul 2017 2:31 PM

Employees in the manufacturing sector with only secondary education earn Rs 101.4, 62.6 per cent less than master graduates at Rs 270.8. (Representational image)

'Mfg lowest paid sector with Rs 211.7 per hour median gross salary'

Manufacturing output contributes about 16 pc to the overall GDP and employs nearly 12-13 per cent of the labour force.

18 Jul 2017 2:13 PM

GST is likely to be beneficial for auto, cement and organised retail sectors, said Fitch.

GST to benefit auto, cement, organised retail sector, says Fitch

However, implementation risks will remain over next 12 months due to complexities of adopting to new system.

18 Jul 2017 2:05 PM

Overall, India's trade deficit narrowed to USD 13 billion in June from USD 13.8 billion in May.

CAD to widen to 1.3 per cent of GDP in 2017: Nomura

Current account deficit soared to USD 3.4 billion of GDP in 4th quarter of 2016-17 from USD 0.3 billion.

18 Jul 2017 1:01 PM

This year income tax department has brought about any changes in tax filing exercise.

How different I-T returns filing would be this year

Authorities have introduced ITR-1 or Sahaj form for individual tax payers who earn not more than Rs 50 lakh.

18 Jul 2017 12:57 PM

Old Rs 1,000 and Rs 500 notes were scrapped on November 8, 2016.

No new window for old notes: Centre

Any number of benami transactions and user proxies for the purpose of producing.

18 Jul 2017 1:47 AM

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Shobhaa De