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In the meeting, the GST target was set at Rs 1.10 lakh crore every month between December 2019 and March 2020. Of these four months, Rs 1.25 lakh collections has to be achieved in at least one month, the sources said.

Govt sets Rs 1.1 lakh cr monthly GST collection target; asks taxmen to buckle up

Taxmen were told that both the GST and Rs 13.35 lakh crore target for direct taxes for 2019-20 will have to be achieved.

17 Dec 2019 5:43 PM

This is regarding the fact that the estimate was done by NCAER (National Council of Applied Economic Research) for the ninth Finance Commission for terminal ideal GST, whereas GST -- which is work in progress - may take 20 years. It is not that you are going to get 1.5-2 per cent (additional) GDP growth overnight, said Bibek Debroy, Chairman, Economic Advisory Council to the Prime Minister. (Photo: File)

Impact of GST will take time to show results: Bibek Debroy

Collections under the GST, which was introduced in July 2017, has remained mostly below the target.

17 Dec 2019 12:07 PM

Similarly, the broader Nifty was trading 55.65 points or 0.46 per cent higher at 12,109.05. (Photo: File)

Sensex jumps over 200 pts; Nifty tests 12,100

The 30-share index rose 203.40 points or 0.50 per cent to 41,142.12 in morning session.

17 Dec 2019 10:20 AM

RBI Governor Shaktikanta Das hoped for the US-China truce on trade tariffs, announced over the weekend, would last as he pitched for coordinated efforts to push global growth like those after the 2008 financial crisis. (Photo: File)

RBI saw slowdown, acted ahead of time by cutting interest rates from Feb: Das

In the last MPC meeting when we took a pause, I don't know why the market was surprised, said RBI Gov Shaktikanta Das.

16 Dec 2019 11:52 AM

In the reporting week, the rise in reserves was mainly on account of an increase in foreign currency assets, a major component of the overall reserves, which surged by USD 1.891 billion to USD 421.258 billion, according to the data.

Forex reserves soar to touch all-time high of USD 453 billion

The country's reserve position with the International Monetary Fund also increased by USD 15 million to USD 3.644 billion, the data showed.

14 Dec 2019 11:06 AM

"We have lowered our 2019 gross domestic product (GDP) growth forecast for India to 5.6 per cent, which is lower than 7.4 per cent growth in 2018," Moody's said in a report.

Moody's cuts India's GDP growth forecast to 5.6 pc for 2019

Moody's expects economic growth to pick up in 2020 and 2021 to 6.6 per cent and 6.7 per cent respectively.

13 Dec 2019 1:51 PM

Among districts, the funds were released to about 4.72 lakh farmers in Anantapur, 4.05 lakh in Kurnool, 4 lakh in East Godavari, 3.89 lakh in Guntur, 3.75 lakh in Chittoor, 3.48 lakh in Prakasam, 3.22 lakh in West Godavari and 3.04 lakh in Krishna so far.

Centre releases PM-KISAN funds to 43.20 lakh Andhra farmers till Nov

As per the agriculture ministry data, the central government has released funds to 43.20 lakh farmers.

12 Dec 2019 1:21 PM

FADA President Ashish Harsharaj Kale said agriculture produce has now started trickling into the markets after the extended monsoon season, which is contributing towards the uptick in semi-urban and rural markets.

Passenger vehicle retail sales up 1 per cent in November: FADA

Total sales across categories rose 2 per cent to 21,05,508 units in November as against 20,54,296 units in the same month last year.

11 Dec 2019 4:51 PM

In September, ADB forecast India's GDP to grow 6.5 per cent in 2019-20 and 7.2 per cent in the year thereafter. (Photo: File)

ADB trims India's GDP growth forecast to 5.1 per cent in FY20

Asian Development Bank said growth should pick up to 6.5 per cent in the next fiscal year with supportive policies.

11 Dec 2019 11:55 AM

Sales of commercial vehicles were down 14.98 per cent to 61,907 units in November, SIAM said. (Photo: Representational)

Passenger vehicle sales decline marginally in November

Domestic car sales were down 10.83 per cent to 1,60,306 units as against 1,79,783 units in November 2018, according to data.

10 Dec 2019 11:39 AM

The value of total notes in circulation as at end of March 2019 stood at Rs 21,109 billion, Minister of State for Finance Anurag Thakur said in a written reply in the Lok Sabha on Monday. (Photo: File)

Currency in circulation rises to Rs 21 lakh crore as on March 2019: Thakur

MoS Finance Anurag Thakur was responding to a query whether currency notes in circulation increased post-demonetisation.

10 Dec 2019 9:25 AM

Following the weak GDP outturn for the September quarter, Indian real GDP growth in FY 2019-20 is expected to be slightly below 5 per cent, as it is anticipated that the impact of stimulus measures will take time to filter through to the real economy, IHS said.

India's real GDP growth in FY20 to come below 5 per cent: Report

For the first half of 2019-20 fiscal, GDP growth slowed to a pace of 4.8 per cent compared to the 7.5 per cent a year back.

08 Dec 2019 12:52 PM

Finance Minister Nirmala Sitharaman. (Photo: File)

Govt working on more measures to boost economy: Sitharaman

GDP growth slowed down to more than six-year low of 4.5 pc in second quarter of current fiscal from 5 pc recorded in first quarter.

07 Dec 2019 1:20 PM

RBI to retain dovish bias going forward: report

The RBI reiterated that it would maintain an accommodative stance as long as necessary to revive economic growth.

07 Dec 2019 10:46 AM

Higher coverage of wheat was reported from Madhya Pradesh, Rajasthan and Himachal Pradesh. (Photo: File)

Wheat sowing up 4.28 per cent at 202.54 lakh hectares so far

As per the ministry's latest data, wheat was sown in 8.34 lakh hectare more area so far in the ongoing rabi (winter) season.

06 Dec 2019 7:53 PM

RBI pegs GDP down to 5 per cent, no rate cut

The policy repo rate since February was cut in every policy, cumulatively easing by 1.35 per cent or by 135 basis points to 5.15 per cent.

06 Dec 2019 3:22 AM

Incidentally, the net-worth of all SFBs currently in operation is in excess of Rs 200 crore.

NBFCs, MFIs & co-ops can now become SFBs

The minimum paid-up voting equity capital or net worth requirement has been set at Rs 200 crore, up from Rs 100 crore as set earlier.

06 Dec 2019 2:18 AM

RBI rubs it in, says no respite from price rise

Shaktikanta Das says vegetable prices should soften by early February 2020.

06 Dec 2019 2:17 AM

Of the five mines, two were allocated to Birla Corporation Ltd and one each to Vedanta Ltd, Prakash Industries Ltd and Powerplus Traders Pvt Ltd.

Govt approves allocation of 5 coal blocks, to generate Rs 17,136 cr revenue

The ministry of coal, after a long gap of four years, has approved the allocation of five coal mines, the ministry said in a statement.

05 Dec 2019 5:57 PM

Reserve Bank governor Shaktikanta Das pointed towards a line in the monetary policy committee resolution, which makes it "explicitly" clear that there is a scope for further rate cuts. (Photo: File)

We can't keep on slashing policy rates every time: Shaktikanta Das

The sharp decline in growth had many analysts assuming the Reserve Bank will deliver a rate cut on Thursday.

05 Dec 2019 1:34 PM

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Sunil Gatade