The move confirms that wholesale lending non-banking financial companies (NBFCs) are staring at a double whammy – higher bad loans on the asset side and difficulties in refinancing its debt on the liability side.
This decision of the Goods & Service Tax Council is already backed by the constitution provision (Article 279A), which allows it to raise fiscal resources for a specified period to deal with natural calamities.
Essentially, the government is able to understate its expenditure by getting public sector units to spend money, which would otherwise have been part of the budget. As a result the total liability of the central government at the end of FY 2016-17 is actually 50.5 percent of GDP rather than 45.5 percent reported by the Centre, according to the CAG.
This pessimistic note was in marked contrast to the previous CEWC and when at the beginning of the trade war, Chinese official media claimed that the Chinese economy was “resilient enough to cope”.
Iran used to be India's second-biggest oil supplier, a position which now belongs to regional-rival Iraq after tough Western sanctions over its nuclear development programme limited Tehran's exports and access to finance.
The issuance of the 12 digit unique identity number, Aadhaar, is gaining popularity among the government schemes for several benefits provided from the Consolidated Fund of India.
The Trade Infrastructure for Export Scheme (TIES) would primarily focus on projects like customs checkpoints, cold storages at ports and last mile connectivity, an official said.
Sinha was speaking during a meeting chaired by him to review the growth of digital payments and status of Aadhaar seeding with Union secretaries and Chief Secretaries of various states via video conferencing.
Be it in case of the pay, promotions, second careers or work conditions for blue-collared women workers, there is a long bridge to be crossed.
The steel ministry is working closely with the NITI Aayog on pricing the country’s natural resources like iron ore, coking coal, coal, gas, among others.
The Nikkei Manufacturing Purchasing Managers' Index, compiled by IHS Markit, rose to 50.7 in February from 50.4 in January. That beat a Reuters poll median of 50.3 and was the highest level since November.
Deepali Bhargava, Economist at Credit Suisse expects GDP growth to accelerate to 7.4 percent in FY18.
Speaking during the Question Hour, Issac told the House, "There were no fundamental disputes in GST council." The next meeting of the council, to be held in Srinagar, would take decision to fit different goods and services into the four approved slabs of 5, 12,18 and 28 per cent tax rates under Goods and Service Tax (GST).
Economic Affairs Secretary Shaktikanta Das said the third quarter and the 7.1 percent growth projected for full fiscal are "definitely something noteworthy".
A decision in this regard was taken during a meeting of representatives of All India Association of Central Excise Gazetted Executive Officers and those from Indian Revenue Service (Customs and Central Excise).
"The per capita net national income during 2016-17 is estimated to be Rs 103,818 showing a rise of 10.2 percent as compared to Rs 94,178 during 2015-16 with the growth rate of 8.9 percent," as per data on Second Advance Estimates of National Income, 2016-17.
While the State Level Single Window Clearance Committee headed by Chief Secretary A P Padhi today accorded approval for 14 different projects worth investment of Rs 25,474 crore, the same committee on January 31 had given its nod for investment of another 697 crore.
At issue is what to do with USD 133 billion in stressed assets accumulated by banks after years of reckless lending, a problem that has bedevilled regulators and stalled loans that India needs to revive private investment.
The proposal is similar to one by the government's Chief Economic Adviser Arvind Subramanian, who has called for a bad bank.
"Big relief to cataract patients : Modi govt approves scheme of Rs 756 crore for the treatment of 786 lakh cataract patients in 5 years," BJP official twitter handle said, which was re-tweeted by Union Health Minister J P Nadda.
The announcement was made by World Bank CEO Kristalina Georgieva after concluding her day-long visit to the megapolis.
Joint Development Agreements were the lifeblood of the sector till the 2008 financial crisis.
In a panel discussion on CNBC-TV18, Pronab Sen, Former Chief Statistician of India said that formal sector data is used as a proxy to estimate the informal sector data, hence even though the informal sector was hit harder due to demonetisation the numbers don't seem to reflect it.