Business, Economy, 23rd Jul 2017, News & Stories from India

Wednesday, Apr 17, 2024 | Last Update : 03:06 AM IST

Business Economy 23 Jul 2017

Business, Economy, 23 Jul 2017

Congress leader P. Chidambaram pointed out that many products have been kept out of the new tax regime.

Chidambaram points out 40 per cent of India's GDP kept out of GST

GST is believed to be the biggest economic reform since independence.

23 Jul 2017 6:53 PM

India is likely to clock a 7.5 per cent economic growth in the current fiscal, said NITI Aayog Vice Chairman Arvind Panagariya.

Indian economy to grow at 7.5 per cent in FY 18: Arvind Panagariya

Panagariya said he does not agree with classification that India's economic growth is a jobless growth.

23 Jul 2017 5:18 PM

Introduction of Rs 200 note will fill in the "missing middle" , said a report by SBI. (The Veracity of this Rs 200 note is still to be ascertained. Photo: Twitter)

Introduction of Rs 200 notes will fill 'missing middle': SBI report

RBI is reportedly expected to introduce Rs 200 notes in coming months to ease pressure on lower-denomination currencies.

23 Jul 2017 4:54 PM

A search panel headed by the Cabinet Secretary is scheduled to interview candidates on July 29 to find a successor for RBI Deputy Governor S S Mundra.

10 candidates to interview for deputy gov's post at RBI

The successful candidate will be the successor to S S Mundra, the current deputy governor of RBI.

23 Jul 2017 4:38 PM

Members of the Monetary Policy Committee will be paid Rs 1.5 lakh per meeting along with air travel and other reimbursements.

RBI rules: MPC members' salary to be Rs 1.5 lakh per meet

MPC members should also take adequate precaution to ensure utmost confidentiality of its policy decision before it is made public.

23 Jul 2017 4:11 PM

Overseas investors have pumped in USD 2.4 billion in the capital markets in July, enthused by trouble-free roll-out of GST and on hopes of better corporate earnings. (Representational Image)

FPIs pump in USD 2.4 billion in July, taking total FPI in 2017 to USD 25 billion

However, experts said inflow from FPI is expected to remain subdued with depreciating US currency against the Indian rupee.

23 Jul 2017 3:07 PM

RBI will hire 12 currency verification systems for six months to help it segregate fake ones from scrapped notes of Rs 500/1000 denomination.

RBI to hire 12 currency verification systems to pick out fake notes

Previously, RBI governor Urjit Patel did not provide any 'specific number' on amount of money received post-demonetisation.

23 Jul 2017 12:49 PM

The chairman of parliamentary panel on finance, M Veerappa Moily, said he was for changing the financial year to January-December.

Veerappa Moily supports change in financial year to Jan-Dec

The present April-March financial year was adopted by government in 1867 to align Indian financial year with the British one.

23 Jul 2017 12:14 PM

The proposed anti-profiteering authority under GST will take up for scrutiny only those cases where undue profit is of more than Rs 1 crore. (Representational Image)

GST body to examine cases of undue profits of Rs 1 crore or above

Those which are state specific or involve smaller amounts will be transferred to state screening committees.

23 Jul 2017 11:52 AM

The Centre told the Supreme Court that I-T department surveys over the last 3 years led to the detection of around Rs 71,941 crore of "undisclosed income". (Representational Image)

'Undisclosed income' of 71,941 crore exposed by I-T searches in 3 yrs

Total undisclosed income was more than Rs 5,400 crore and total quantity of gold seized was 303.367 kgs.

23 Jul 2017 11:04 AM

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Skand Tayal