Govt prevails over RBI to release Rs 176,000-cr surplus

New Delhi (IANS) On Monday, the government won and the RBI lost in what turned out to be an attritional war that saw a Governor being scalped. One can argue that the central bank works at the pleasure of the government and the RBI Act says this with…

Gold touches new high over Rs 40K per 10gm

Mumbai (IANS) Breaching a psychological barrier, gold prices in Mumbai touched new high of a little over Rs 40,000 per 10 gm, on Monday, industry players said.

"This is indeed an unprecedented high, but lower by at least 20 per cent in…

GDP growth pegged at 6% in Q1: FICCI survey

New Delhi (IANS) The latest FICCI Economic Outlook Survey has pegged first-quarter GDP growth at 6 per cent in 2019-20 while for the whole fiscal growth is seen at 6.9 per cent in 2019-20.

The growth numbers for the first quarter are expected…

Sensex opens 663 pts higher after govt boosters

Mumbai (IANS) After what experts termed as a mini-budget on Friday, the markets on expected lines opened on a strong note on Monday.

The benchmark Sensex on Monday opened 663 points higher.

Finance Minister Nirmala Sitharaman had come…

New measures to help economy grow in coming months: CII

New Delhi (IANS) With Finance Minister Nirmala Sitharaman having announced measures to boost demand and improve liquidity, the Confederation of Indian Industry (CII) said on Sunday that economic growth would climb in the coming months.

In a…

India needs single corporate tax rate of 25%: KPMG

New Delhi (IANS) The Indian government should move towards a simple tax structure with a single corporate tax rate of 25 per cent, without any surcharge or cess above it, global advisory KPMG has said in a report.

The report titled "India:…

Govt to set up panel to finalise major infra projects

New Delhi (IANS) Finance Minister Nirmala Sitharaman on Friday said that an inter-ministerial task force would be set up to finalise infrastructure projects, as part of the measures to boost the economy.

"An inter-ministerial task force…

Govt rolls back surcharge on FPIs to check capital outflow

New Delhi (IANS) With an aim to check the massive outflow of foreign portfolio investment since the Budget, the government on Friday withdrew the surcharge levied on them.

As a result, the tax incidence for foreign portfolio investors (FPIs)…

No angel tax on startups, their investors: FM

New Delhi (IANS) In a major relief to entrepreneurs and startups, Finance Minister Nirmala Sitharaman on Friday announced that the 'angel tax' provision will be withdrawn for startups and their investors.

Announcing measures to boost…

Equity indices pare initial losses to trade flat

Mumbai (IANS) The key Indian equity indices pared initial losses to trade flat during the Friday afternoon trade, on hopes that the government may roll back the surcharge on foreign portfolio investors (FPIs).

At 12.47 p.m., the BSE Sensex…