The Organisation for Economic Cooperation and Development (OECD) has also revised downwards its estimate for the country's growth in next financial year (2018-19) to 7.2 per cent.
The post Indian economy to grow 6.7 per cent in 2017-18, says OECD appeared first on The Financial Express.
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-
Indian economy to grow 6.7 per cent in 2017-18, says OECD
-
Indian economy to grow 6.7 pc in 2017-18, says OECD
Indian economy is projected to grow at a lower than expected rate of 6.7 per cent this fiscal due to the "transitory effects" of demonetisation and the GST implementation, according to Paris-based think tank OECD.
The post Indian economy to grow 6.7 pc in 2017-18, says OECD appeared first on The Financial Express. -
Govt eyes extra $7.7 billion spending to halt economic slowdown: Sources
The official said that the economy was passing through a "transitory phase" after the government`s decision late last year to outlaw old high-value banknotes and after the launch of a nationwide goods and services tax in July. -
Airtel gets shareholders' nod for amalgamation with Telenor
Airtel and Telenor, in February 2017, had signed an agreement for merger under which the Sunil Mittal company will acquire Telenor India's operations in seven circles -- Andhra Pradesh, Bihar, Maharashtra, Gujarat, UP (East), UP (West) and Assam. -
SBI Life IPO subscribed 58% on Day 2
SBI Life is a joint venture between India's largest lender State Bank of India (SBI) and BNP Paribas Cardif (BNPPC) -- the insurance holding company of France. -
Expect Iran letter to EXIM Bank soon on Chabahar $150mn loan: Source
Iran is expected "very soon" to approach Exim Bank here seeking disbursement of the first tranche of $150 million loan to fast-track the development of Chabahar Port in the gulf nation, official sources said.
The post Expect Iran letter to EXIM Bank soon on Chabahar $150mn loan: Source appeared first on The Financial Express. -
No daily allowance for employees to travel on LTC
The LTC allows the grant of leave and ticket reimbursement to employees who are entitled under the rules to travel to their home towns and other places. -
Rupee crashes 54 paise to 2-1/2-month low on Fed rate hike hint
This was the lowest level the domestic currency had seen since since July 3 this year, when it had closed at 64.88 against the US dollar. -
Govt frames parameters for division of taxpayers under GST
In a circular to all chief secretaries of states and principal commissioners of Central Tax, the GST Council secretariat laid down guidelines for division of taxpayers on the basis of their turnover to ensure single interface under the new indirect tax regime which was rolled out on July 1. -
Investment in realty sector at $5 billion so far this year: KPMG
Institutional investors have put in USD 5 billion so far this year into the real estate sector, largely in commercial assets, according to KPMG. -
7th Pay commission: Tamil Nadu to implement recommendations soon
Advocate General Vijay Narayan submitted a division bench comprising justices K K Sasidharan and G R Swaminathan that a committee had been constituted to study the pay panel recommendations and its report was expected before September 30. -
S&P downgrades China, says rising debt is stoking economic, financial risks
S&P had said in June there was a "real" chance of a downgrade and a decision would be made based on whether China is able to move away from a credit-driven growth strategy. The demotion follows a similar move by Moody`s Investors Service in May. -
Tata Sons receives shareholders' approval to become private company
Tata Sons, the promoter of major operating companies of the Tata group, was for past some days planning to convert itself into a private limited firm from a public limited one -
Demonetisation, GST to eat off India’s economic growth even next year
The after-effects of the demonetisation exercise and the GST implementation will continue even into the next financial year, the OECD has said while cutting India's growth forecast for fiscal 2018-19 by half a percentage point.
The post Demonetisation, GST to eat off India’s economic growth even next year appeared first on The Financial Express. -
Govt considering $7.7 billion stimulus to revive economic growth: Report
The government is considering a plan to loosen the fiscal deficit target so that it could spend an additional Rs 50,000 crore ($7.7 billion) in FY18 -
Govt considering $7.7 billion stimulus spending in FY18 to revive economy: Report
Pulled down by sluggish manufacturing, growth in the Indian economy in the first quarter of this fiscal fell to 5.7 percent, clocking the lowest GDP growth rate since Narendra Modi took power in May 2014. -
Samsung offers one-time screen replacement within 12 months of purchase
The offer is valid on purchases between September 21, 2017 and October 21, 2017. -
Putting a limit on loans against property could hinder SMEs#39; growth
NHB#39;s proposal will have a bigger impact on the growth of small and medium enterprises which have been relying on LAP to meet their short-term requirement of funds. -
UIDAI lens on Airtel over opening payments bank a/c using eKYC
In November 2016, Airtel Payments Bank had rolled out banking services in Rajasthan, becoming the first payments bank to go live in the country. -
Anil Agarwal to boost Anglo American stake, invest $2 billion
De Beers, the world's leading diamond exploration, mining and marketing company, producing over 30 million carats of diamonds per annum, 35 per cent of global rough diamond production. -
Private banks share in advances to hit 38-40% by FY'20: ICRA
ICRA group head (financial sector ratings) Karthik Srinivasan said private sector banks face challenges of increasing competitive intensity because of weak credit demand while the buoyant debt capital markets pose challenge of balancing growth and profitability. -
India considering $7.7 billion stimulus spending in 2017/18: government sources
On Wednesday, Finance Minister Arun Jaitley said the government was looking for ways to lift economic growth, which slipped to a three-year low of 5.7 percent in the quarter to end-June. -
Dr Reddy's shares jump 7.5%; mcap rises by Rs 2,864 crore
The company's market valuation went up by Rs 2,864.35 crore to Rs 41,223.35 crore. -
OECD report says India#39;s GDP growth will overtake China#39;s in 2018
As per the data the global GDP growth rate is projected to grow from 3 percent in 2016 to 3.5 percent in 2017 and later to 3.7 percent in 2018 -
Sensex falls for 3rd day as rupee sinks to over 2-month low
The 30-share barometer closed down by 30.47 points, or 0.09 percent at 32,370.04. -
30 lakh biz file GST returns, system robust: GSTN Chairman
As per the Central GST and State GST Acts, an interest at the rate of 18 per cent will be levied for delayed payment of tax and filing of returns. -
Government extends low cost home subsidy to units built on private land
The policy, which also aims to open up immense potential for private investments in affordable housing projects on government landparcels in urban areas, gives eight PPP options for developers to invest in the segment. -
Will appoint receiver and auction assets, SC tells Unitech's Sanjay Chandra
The court said this as amicus curiae Pawan Agrawal told the court that in 61 projects of the real estate major there are 16,300 flat buyers with total involvement of Rs 7,816 crore. -
Sensex, Nifty stays sedate; end flat for third day in row
The 30-share BSE Sensex lost 30.47 points to close on 32,370.04 while the broader 50-share NSE Nifty finished 19.25 points lower on 10,121.90. The Nifty Pharma index gained more than 3 per cent in intra day trade -
Consumer sentiment to remain muted this festive season: Study
The festive season is seen as an auspicious occasion to make large purchases driven by discounts and other benefits. -
Gold price plunges by Rs 250 to Rs 30,500 per 10 grams
Globally, gold slipped to its lowest in over three weeks today as a stronger dollar and increasing prospects of a December rate hike by the Federal Reserve curbed appetite for the metal.
-
SC refuses to grant interim bail to Unitech MD Sanjay Chandra
The Supreme Court on Thursday refused to grant interim bail to Unitech MD and promoter Sanjay Chandra. -
WTO says global trade rebounding, sees 2017 growth of 3.6%
The rapid acceleration was due to last year`s low base, a resurgence of Asian trade flows and recovering North American import demand. -
Sebi chief pitches for multiple products, fund raising avenues
Tyagi has pitched for "providing for multiple products and fund raising avenues suitable for different profile of investors as well as for catering to the varied financing needs at various stages of economic activities". -
Financial inclusion providing the entire range of banking services: SBI chairman
Bhattacharya said the presence of these platforms has actually reduced the cost of transactions to probably the lowest anywhere in the world. -
S&P cuts China`s debt rating over `financial risks`
S&P, which downgraded China`s debt from AA- to A+, is the second major credit ratings agency to slash the Asian giant`s rating after Moody`s made the same decision in May. -
NCLAT ruling on rule waiver: Mistry says 'vindicated'
In today's ruling, the appellate tribunal has granted waiver to Mistry firms in the filing criteria of having 10 percent shares of the company. -
Departments working on notifying mandatory standards: DIPP
Emphasising upon the importance of quality and standards of goods and services, Secretary in the Department of Industrial Policy and Promotion (DIPP) Ramesh Abhishek said that to become part of the global value chain, quality should be the best in the world. -
Anti-dumping duty on Chinese tyres positive: Icra
Domestic rating agency Icra expects this will lead to a strong demand pickup for large truck tyre manufacturers. The government on September 18 slapped anti-dumping duty ranging between USD245.35 and USD452.33 per tonne on Chinese tyres for five years. -
Part of forex reserves can be used to support GDP numbers: Deutsche Bank report
Given the lack of considerable space both on the monetary and fiscal front to support economic growth, part of the country's forex reserves can be used to support GDP numbers, says a Deutsche Bank report.
The post Part of forex reserves can be used to support GDP numbers: Deutsche Bank report appeared first on The Financial Express. -
Foodgrain output may drop 2.5 per cent in Kharif season this year
India's foodgrain production may decline by 3.5 million tonnes to around 135 MT in the current kharif season due to floods and dry spell in some parts of the country, official sources said.
The post Foodgrain output may drop 2.5 per cent in Kharif season this year appeared first on The Financial Express. -
A new Odisha export policy soon: CM Naveen Patnaik
Encouraged over the high growth rate of exports in the state, Chief Minister Naveen Patnaik today announced that a new Odisha Export Policy, 2017 would be announced soon.
The post A new Odisha export policy soon: CM Naveen Patnaik appeared first on The Financial Express. -
West Bengal gets $300 mn ADB loan to carry forward fiscal reforms
Multilateral funding agency ADB today said it has sanctioned a $300 million loan facility for carrying forward fiscal reforms in West Bengal.The post West Bengal gets $300 mn ADB loan to carry forward fiscal reforms appeared first on The Financial Express. -
Govt extends low-cost home subsidy to units built on private land
The policy, which also aims to open up immense potential for private investments in affordable housing projects on government landparcels in urban areas, gives eight public private partnership (PPP) options for developers to invest in the segment, said the newly-appointed Union Urban Development and Housing Minister Hardeep Singh Puri here. -
FM Arun Jaitley assures ‘appropriate action’ to revive economy
Finance Minister Arun Jaitley today promised "appropriate actions" at the "right time" to revive the slowdown-hit economy and said the government is seized of the problem of private investment not picking up.
The post FM Arun Jaitley assures ‘appropriate action’ to revive economy appeared first on The Financial Express. -
Appropriate action to tackle economic slowdown soon: Arun Jaitley
As far as bringing more items under the GST is concerned, Jaitley said that real estate would be the most easy to bring in. -
Arun Jaitley assures #39;appropriate action#39; to revive economy
Jaitley, who has been holding consultations with his Cabinet colleagues and senior government officials to devise plans to lift the economic growth, said real estate can be brought under the just-introduced Goods and Services Tax. -
Cooperatives should explore new areas to double farm income: PM Narendra Modi
Prime Minister Narendra Modi today asked cooperatives to venture into new business areas like beekeeping and seaweed farming to help farmers double their income by 2022 and boost the rural economy.
The post Cooperatives should explore new areas to double farm income: PM Narendra Modi appeared first on The Financial Express. -
Railways looking at ways to speed up electrification process: Piyush Goyal
The important things which are involved in the process include availability of equipment and adequate infrastructure. -
Cooperatives should explore new areas to double farm income: PM Modi
Modi also emphasised that the #39;cooperative spirit#39; should be kept alive and strengthened. Addressing the birth centenary of Maharashtra-based cooperative leader Laxman Madhav Rao Inamdar, the Prime Minister said: "It is natural for the cooperative sector to grow and shine in India. There are several sectors where the cooperative sector can help make a positive difference."
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