Growth in the country’s industrial production improved to 4.2 per cent in July this year, from 0.9 percent growth in July last year, as manufacturing activity and offtake of capital goods increased. According to data released by the Central Statistics Office, the manufacturing sector grew 4.7 per cent in July. Output of capital goods, a … Continue reading India’s Industrial output grows at 4.2 % in July
PepsiCo CEO Indra Nooyi is the sole Indian-origin executive in Fortune’s list of 50 most powerful women in business, which has been topped by General Motors CEO Mary Barra. India-born Nooyi is ranked 2nd on the list, moving up a notch from her third position last year. Fortune said about the 59-year-old top executive that … Continue reading Indra Nooyi among Fortune’s powerful women in business list
AMN / Empowered Committee of State Finance Ministers will meet on September 15 to finalise the model legislations that have to be approved by state legislatures for roll out of the Goods and Services Tax (GST). The panel is headed by Kerala Finance Minister K M Mani. The two legislations Central GST (CGST) and State … Continue reading State FMs to meet on Sept 15 to finalise model GST rules
The Income Tax Department will now process and send refunds in a short time of 7 to 10 days as its latest technology upgrade of electronic and Aadhaar-based Income Tax Return verification has begun on a successful note. The department’s latest initiative to verify an ITR by Aadhaar or other bank database has received positive … Continue reading IT Department to send refunds in 7 days
Food Safety and Standards Authority of India, FSSAI has proposed a ban on the sale of health supplement products as medicines. Under the draft regulations published in official gazette, the FSSAI said, the companies cannot claim that their nutraceuticals and health supplement products are of therapeutic and curative value. Every package of food or health … Continue reading FSSAI proposes ban on sale of nutraceuticals as medicines
Foreign investors have pulled out nearly 7,000 crore rupees from the capital markets in about two weeks mainly on account of a combination of global and domestic issues. Foreign portfolio investors withdrew a net sum of 6,109 crore rupees from equities, while they pulled out 773 crore rupees from the debt markets during September 1 … Continue reading FIs pull out Rs 7,000 Cr from capital markets in 2 weeks
AMN / India’s Finance Minister Arun Jaitley today invited US businesses to take advantage of the huge investment opportunity in the infrastructure sector in India and raise bilateral trade to 500 billion US dollars. Presently, the trade between the two countries stands at 100 billion dollars. Addressing the 11th Indo-US Economic Summit in New Delhi, … Continue reading India, US to increase bilateral trade to 500 billion dollar: Jaitley
AMN / The Wholesale Price Index (WPI) inflation fell for the tenth straight month, plunging to a historic low of minus 4.95 percent in August on cheaper fuel and vegetables. The WPI inflation was minus 4.05 per cent in July. It has been in the negative zone since November 2014. As per official data released … Continue reading WPI inflation falls to 4.95 % in Aug
Economic Affairs Secretary Shaktikanta Das has said the government and RBI are prepared for all eventualities in case of a possible rate hike by US Federal Reserve. Speaking at a function in New Delhi, Mr Das said US administration will do it in a calibrated and cautious manner so that it doesn’t affect other economies … Continue reading India ready to deal with US interest rate hike: Fin Min
Reserve Bank has cancelled the certificate of registration of the Sahara India Financial Corporation as Non-bank financial company, NBFC. In a statement on Monday, RBI said that the registration of the Lucknow-headquartered NBFC stands cancelled with effect from 3rd of September. It said, following the cancellation of registration certificate, the company cannot transact business as … Continue reading RBI cancels certificate of Sahara India Financial Corporation as NBFC
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