ECONOMY NEWS

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Indian stocks edge higher in lackluster trade; ITC up 3%

FDI data cannot be taken on face value; RBI needs to regenerate it: Experts  -   17/07/2018 16:46
P ointing out discrepancies in FDI data, a study by two renowned experts has suggested that the RBI should regenerate foreign fund inflows and outflows data with detailed information at least for the past five years with a view to providing a more realistic picture of overseas investments. Foreign direct investment (FDI) inflows database cannot be taken on its face value due to various shortcomings, the s...
Indian business sentiment remains subdued in June: Survey  -   17/07/2018 11:23
A survey has said that the Indian business sentiment regarding future activity remained subdued in June amid intense competition, high fuel prices and strong cost pressures. As per the IHS Markit Business Outlook survey, just 20 per cent of Indian businesses expect growth in output over the next 12 months, unchanged from February. The business confidence reading for India was below the average recorded...
CBIC organises drive to fast track GST refund clearances  -   17/07/2018 11:22
T he CBIC has said that it will organise the third tranche of its special fortnight drive from July 16 to 30 to fast track clearance of pending GST refunds of exporters. As per reports, the Central Board of Indirect Taxes and Customs (CBIC) had cleared Rs 5,401 crore and Rs 7,635 crore refunds stuck with regard to Integrated GST (IGST) paid and input tax credit (ITC) claims. Commenting on the issue,...
CVC asks Govt to award work contracts on nomination basis  -   17/07/2018 11:20
C entral Vigilance Commission has said that it has asked government departments and central public sector undertakings to follow an open and transparent process to award work contracts rather than on nomination basis. Commenting on the issue, an official told the media, “The move comes after the CVC received reports of alleged corruption in certain work contracts given to private firms mainly by th...
FC to incentivise states doing well in population mgmt: Singh  -   17/07/2018 11:19
T he 15th Finance Commission (FC) has said that it is planning to offer incentive to those states who are doing well in population management. As per reports, many states, mostly those in the south, where population levels have declined, had opposed choosing 2011 as the base year for population census and not 1972 in the terms of reference of the 15th FC. Commenting on the issue, FC chairman N K Sing...
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