UNION BUDGET 2019 20
Surprise: RBI holds repo, cuts FY20 GDP forecast
Some corporate voices backed RBI’s move but with caveats.
View: Rupee to trade in 71.20-71.80 range
Momentum in the rupee is expected to remain slightly negative.
More reforms needed to boost jobs, incomes: OECD
Restoring growth to the higher levels needed to provide ample jobs and ease inequality will ...
'Shocking' pause? No, RBI is just awaiting signals from FM’s Budget
Shaktikanta Das said RBI is seeing some green shoots of growth revival in the economy.
Sales at microbreweries face a dry run for the first time
About 170 microbreweries mushroomed in the past decade as the country’s high population of millennials showed keen interest in craft beer, a niche segment that still accounts for just 2-3% of the beverage consumption. Packaged craft beer brands such as White Owl and Geist are feeling the impact of the economic slowdown as well.
Parliament okays corporate tax cut; FM says software developers, miners not eligible for lower rates
Replying to a debate on the legislation, Sitharaman said a negative list of activities that do not constitute manufacturing has been created and will not be eligible for the lower 15 per cent tax rate for manufacturing firms that are set up after October 1 and that begin operations by 2023.
While trade war between US & China escalated, couldn't have waited to slash corporate tax: Nirmala Sitharaman
FM Sitharaman had in September announced corporate tax rate cut from an effective 35% (including surcharges and cesses) to an effective 25.17% while the rate for new manufacturing companies reduced to 15% from 25%.
Full Text: RBI keeps powder dry, maintains status quo; here's why
Overall liquidity in the system remained in surplus in October and November 2019, MPC said.
IndiGo says PW engine issue is likely to have an impact on future capacity
On November 1, aviation regulator Directorate General of Civil Aviation (DGCA) had asked IndiGo to replace all unmodified PW engines on its 97 A320neo family aircraft or face grounding of planes.
RBI keeps repo rate unchanged at 5.15%, stance remains accommodative
The central bank slashed FY20 real GDP growth projection to 5% from 6.1%.
RBI throws ball back in govt’s court to boost growth: Analysts
The central bank acknowledged that it was concerned about inflation in the near-term.
Govt taking adequate measures to control onion prices: FM Nirmala Sitharaman
Nirmala Sitharaman said there are several structural issues related to storage of onions and the government is trying to address them. Steps taken by the government to check rising prices of onion include ban on exports, imposition of stock limit, and import and transfer of onions from surplus to deficit areas, FM said.
Navy Chief Admiral Singh flags concern over decline in funds allocation to Navy
The Navy Chief said the first indigenous aircraft carrier (IAC) will be fully operational by 2022 and it will have a fleet of MiG-29K aircraft. He said the second IAC will be 65,000 ton CATOBAR aircraft carrier with electric propulsion and that Navy will shortly approach the government seeking approval for the project.
Australia to cease all bilateral aid to Pakistan
The report titled 'Aid Program Performance report 2018-19 on Pakistan' said Pakistan bilateral aid programme will be reduced to 19 million Australian dollars in 2019-20, and will fully phase out during 2020-21. Pakistan is one of the poorest countries in Asia and was placed 150 out of 178 nations on the most recent United Nations Human Development Index.
Situation akin to economic emergency prevailing in country: Congress
"Why are they not giving GST share to states? It became clear on Friday when it came to the fore that the country's fiscal deficit has reached 102.4 per cent of the 2019-20 Budget, estimated at Rs 7.2 lakh crore, at the end of October," Congress leader Randeep Singh Surjewala said while talking to the media here.
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