INSUBCONTINENT EXCLUSIVE:
India's direct tax-to-GDP at 10-year highThe direct tax-to-GDP ratio of 5.98% achieved during 2017-18 is best in last 10 years, Finance
Ministry said on Wednesday
It was 5.57% in 2016-17 and 5.47% in 2015-16
The ministry said larger purpose of demonetisation was to move India from a tax non-compliant society to a compliant society and impact of
note ban has been felt on collection of personal income tax
GST easing for realty on cardsThe GST Council is slated to meet on January 10 to discuss lowering GST on under-construction flats and
houses to 5%, as well as hiking exemption threshold for small and medium enterprises
The council, in its previous meeting on December 22, 2018, had rationalised 28% tax slab and reduced rates on 23 goods and services
Housing costs up in 33 citiesHousing prices increased in 33 cities by up to 22% during April-June quarter this fiscal, while rates fell in
14 cities by up to 13% and 3 cities remained stable, according to revised National Housing Bank data with new base year
For under-construction properties, housing prices went up in 39 cities by up to 17% and declined in 8 cities by up to 8% and remained stable
The National Housing Bank has revamped system by changing base year and releasing separate index for under construction properties
output moderated, despite factories cutting their prices
No end to US shutdown in sightNo agreement came out of a meeting between US congressional leaders and President Donald Trump on Wednesday to
end a partial government shutdown now in its 12th day as president stuck to his demand for $5 billion in border wall funding fiercely
opposed by Democrats.Govt may ease mineral exploration policyThe government is considering liberalising exploration and licensing regime for
mineral exploration in India to attract big-ticket private investment in sector
losses they made on subsidising petrol and diesel by Re 1 per litre even though rates have now become at par with cost, top officials said
"We are not recovering any of losses," Indian Oil Corp Chairman Sanjiv Singh told reporters
IOC along with Hindustan Petroleum (HPCL) and Bharat Petroleum Corp Ltd took a hit of about Rs 4,500 crore from absorbing Re 1 a litre hike
Crude mixed, gold upUS crude CLc1 dipped 1.31% at $45.93 a barrel after a sharp rise on Wednesday
Brent crude LCOc1 rose to $54.68 per barrel
Gold was higher as dollar weakened, with spot gold XAU= trading at $1,286.54 per ounce
government clarification asked officials not to scrutinise such transactions, reports ET, adding that this could also bring some relief to
startups on angel tax front.Australian dollar bloody after computer-driven crashThe Australian dollar was picking up pieces on Thursday
after a torrent of automated selling against yen sent it plunging to multi-year lows on a host of major currencies
At one point it was down 5% on yen and almost 4% on US dollar, before clawing back much of losses as trading calmed and humans took charge
Bank.Rs 600 cr subsidy sops for merchant exportersThe government Wednesday decided to provide 3 per cent interest subsidy to merchant
exporters, entailing an expenditure of Rs 600 crore, to enhance liquidity with a view to boosting outbound shipments
The decision was taken by Cabinet Committee on Economic Affairs
A decline in export credit has hit exporters in general and MSME units in particular
Automatic Swiss A/C info from 2019From 2019, on an automatic basis, India will start receiving from Switzerland information relating to
financial accounts held by Indians in Swiss banks, government said Wednesday
Minister of State for External Affairs V K Singh, replying to a question in Lok Sabha, said such information may include details about
persons allegedly involved in corruption
However, information received is governed by confidentiality provisions of tax treaty between two countries
POLICIES MOREThe Tamil Nadu government has moved Supreme Court challenging recent order of National Green Tribunal setting aside a May 2018
Government Order closing Vedanta-owned Sterlite Copper and directing state pollution control board to renew an operating licence of
4-lakh-a-tonne factory within three weeks.The cabinet yesterday approved merger of Vijaya Bank Dena Bank with Bank of Baroda
After today's merger, Bank of Baroda will become third biggest public sector bank
The merger will be effective from April 1
Lenders to Jet Airways are expected to step up pressure on management to recover unpaid dues and raise money through equity or sale of
assets after airline revealed that it had defaulted for first time in December
TOP VIDEOPeople should be worried about us rather than we being worried about others: Kishore Biyani, Future GroupTOP QUOTE'Well-run
smallcap companies will find 2019 a fertile year'FUNDAMENTALSRupee down: The rupee fell sharply yesterday against US dollar amid weak
The rupee settled at 70.17 a dollar, down 74 paise from its previous close of 69.43.10-yr bond yields down: India 10-year bonds' yields fell
0.02% to 7.35% on Wednesday from 7.37% in previous trading session, according to RBI data.Call rate: The overnight call money rate weighted
average was 6.34% on Wednesday, according to RBI data
It moved in a range of 5.00-6.50%.
