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Earlier this month, the Reserve Bank of India’s Monetary Policy Committee (MPC) decided to keep the policy repo rate unchanged at 6.50% for the ninth consecutive time.
Updated: Aug 22, 2024

RBI MPC Minutes: Food inflation pressures showing little signs of abatement in near term, central bank observes

On future indicators, the RBI noted that headline inflation in July and Q2 of the current financial year are expected to be lower, given their base effect advantage, but the uncertainty is still there due to frequent recurrence of adverse weather events, resurgence of geo-political tensions and financial market volatility.

The compensation cess is levied on sin and luxury goods
Updated: Aug 22, 2024

What’s the future of the GST Compensation Cess?

GST Council likely to take up issue in next meeting, may be renamed and continued in another form

The 54th meeting of the Goods and Services Tax (GST) will be held on September 9.
Updated: Aug 22, 2024

'No need to change tax slabs for now': GST Rate Rationalisation committee

After the meeting, panel members told Business Today TV that a lot of issues were discussed at the meeting. The rate revision was discussed, however, nothing was finalised.

GST collections in the first four months of FY25 underwent a level shift pushed up by the widening of the tax base and heightened economic activity.
Updated: Aug 22, 2024

'Economy sustained its growth momentum first four months in Q1 FY25': Monthly review by Finance Ministry

The report noted that the resilience of domestic activity is also reflected in the strong performance of the manufacturing and services sector purchasing managers’ indices.

Govt to probe market practices by e-commerce players
Updated: Aug 22, 2024

Govt likely to review market practices by e-commerce players and impact on traditional retailers, consumers

Commerce Minister Piyush Goyal had also flagged the issue of predatory pricing recently; Competition Commission of India may be roped in at a later date.

Sovereign gold bonds: Further tranches of SGBs unlikely
Updated: Aug 22, 2024

‘Complex, expensive’: Further tranches of sovereign gold bonds unlikely

SGBs: Sources told BT TV that further tranches of sovereign gold bonds are unlikely as it is a complex and expensive instrument.

These reports will provide rich data on how the economy has been shaping up in recent years in terms of growth and investments by formal and informal sector enterprises and businesses, job creation as well as spending by households on various products.
Updated: Aug 21, 2024

Pulse of the economy: Centre to release several statistical findings in next few months

Annual PLFS report, Annual Survey on Industries, ASUSE and HCES 2023-24 and time use survey to be released

Goyal also addressed the broader market dynamics, questioning the legality and ethical implications of e-commerce platforms engaging in direct-to-consumer sales
Updated: Aug 21, 2024

'Amazon’s investments only to...': Piyush Goyal flags rapid rise of ecommerce in India, says 'not a matter of pride'

Goyal questioned the overall impact of e-commerce on India's retail landscape. He pointed out that while e-commerce is growing at a rapid pace, with a 27% annual growth rate, this expansion could lead to significant social disruption.

Murthy underscored the sacrifices made by the previous generation, including his own parents, siblings, and teachers, which paved the way for current opportunities.
Updated: Aug 18, 2024

'Indians have not paid enough attention to...': Narayana Murthy flags one of the biggest risks to country's future

Murthy had earlier expressed skepticism about India's ambition to compete with China as a global manufacturing hub.

FPIs turn net seller in the month of August
Updated: Aug 18, 2024

FPIs turn net sellers; sell shares worth Rs 21,201 crore in Aug

From August 1 to 17, FPIs withdrew a net amount of Rs 21,201 crore from equities. So far this year, FPIs have invested Rs 14,364 crore in equities, the data showed.

IMF's Gita Gopinath says India will become the third largest economy in 2027
Updated: Aug 16, 2024

‘Did much better than expected’: IMF’s Gita Gopinath says India to become 3rd-largest economy by 2027

"India's growth did much better than we expected the last fiscal year and that those carryover effects are affecting our forecast for this year," said Gita Gopinath.

Earlier this week it was reported that retail inflation in July slowed to 3.54 per cent due to a sharp decline in food inflation.
Updated: Aug 14, 2024

Wholesale inflation eases to 2.04% in July as against 3.36% in June: Govt data

The annual rate of inflation for Primary Articles of WPI stood to 3.08 per cent in July as compared to 8.80 per cent in June.

Nithin Kamath says more homegrown brands should go public
Updated: Aug 13, 2024

‘Need more homegrown firms to list’: Nithin Kamath on Ola Electric, Unicommerce, FirstCry IPOs

Ola Electric, Unicommerce, FirstCry IPOs: Congratulating the three companies, Nithin Kamath said that as the response indicates, investors are happy.

Indian Railways cancels Rs 30,000-crore tender for 100 Vande Bharat trains
Updated: Aug 13, 2024

Indian Railways cancels Rs 30,000-crore tender for 100 Vande Bharat trains to Alstom India: Report

The tender panel found that the company’s bidding price of Rs 150.9 crore for each train was too high, and urged them to cap it at Rs 140 crore.

CPI inflation at 5-year low in July: SBI warns of impact of monsoon mayhem
Updated: Aug 13, 2024

CPI inflation at a 5-yr low: SBI warns about bumpy road ahead due to uneven monsoon

CPI inflation for July: The SBI Ecowrap predicted inflation to remain elevated and hover above Reserve Bank of India’s (RBI’s) forecast of 4.5 per cent in FY25.

For non-emergency premature withdrawals within the three-month period, NBFCs are allowed to return up to 50 percent of the deposit amount, but not more than Rs 5 lakh, without paying interest, PTI reported.
Updated: Aug 12, 2024

RBI mandates full emergency refunds for NBFC deposits and updates housing finance rules

For non-emergency premature withdrawals within the three-month period, NBFCs are allowed to return up to 50 percent of the deposit amount, but not more than Rs 5 lakh, without paying interest, PTI reported.

As per official data released on Monday, retail inflation eased to 3.54% in July this year as against 7.44% in July 2023 and 5.08% in June 2024.
Updated: Aug 12, 2024

CPI inflation at 59-month low but food price pressures continue

Month-on-month vegetable inflation rises, analysts expect relief after new crop post Monsoons

Govt sets up team to implement internship scheme
Updated: Aug 12, 2024

Ministry of Corporate Affairs sets up a dedicated team to implement internship scheme

It has also begun discussions with industry representatives for feedback on the model and details of the scheme.

FM Nirmala Sitharaman and Reserve Bank of India (RBI) Governor Shaktikanta Das at a joint press conference on Saturday.
Updated: Aug 10, 2024

Bangladesh update: Garment, Knitted sector is seeing some kind of uncertainty because of Bangladesh, says FM Sitharaman

Bangladesh's textile industry is a crucial component of its economy, contributing to 80% of its exports and constituting 15% of its GDP. India plays a vital role as an export partner, supplying 20%-25% of the yarn that Bangladesh imports for producing garments.

With these projects 64 new stations will be constructed, providing enhancing connectivity to six aspirational districts
Updated: Aug 09, 2024

Cabinet sanctions 8 new line projects for Railways worth Rs 25,000 crore

The 8 projects will cover 14 districts in seven States -- Odisha, Maharashtra, Andhra Pradesh, Jharkhand, Bihar, Telangana and West Bengal and will increase the existing network of Indian Railways by 900 km.

The webinar explored Prime Minister Modi's vision of a 'Vikasit Bharat' and the challenges in escaping the middle-income trap.
Updated: Aug 09, 2024

Road to Viksit Bharat: Business Today's webinar sets the stage for 'Adani BT India@100'

This insightful discussion sets the stage for Business Today's biggest event of the year, the "Adani BT India@100" forum on August 20 at the Leaders Lounge, Bharat Mandapam in New Delhi, where top corporate leaders, thought leaders, and policymakers will further explore India's path to becoming an economic giant by 2047.

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