Sidhartha

  • RBI urges government to cut rates on small savings schemes

    RBI urges government to cut rates on small savings schemes

    The RBI has urged the government to move forward on reducing interest rates on small savings schemes such as public provident fund (PPF) and post office deposits, to help banks pare rates on deposits and loans and lead to a better transmission of the central bank’s rate cuts.

    State governments not keen to levy GST on exempted goods

    State governments not keen to levy GST on exempted goods

    “Goods on the exempted list are mass-consumption items. No state will agree to include them,” said the finance minister of a BJP-ruled state. West Bengal FM Amit Mitra also dismissed the GST Council secretariat’s suggestion for a review of the exempted items. The secretariat had shot off a letter to states seeking a revision of exempted items.

    Government set to close loss-making PSUs

    Government set to close loss-making PSUs

    ​​“There are several cases where the disinvestment process has been going for years. There is very little interest in some of the companies. Keeping all these factors in mind, it has been decided that wherever buyer interest is muted we will recommend for closure of the unit,” said an official, who did not wish to be quoted.

    Import curbs likely on over 350 items to boost ‘Make in India’

    Import curbs likely on over 350 items to boost ‘Make in India’

    Departments are looking into suggestions of waiving the requirement for global tender for government procurement in sectors where it thinks there is sufficient domestic capacity to execute a contract. The moves are part of the government’s thrust to ‘Make-in-India’ scheme, for which it has been working on ways to discourage imports.

    Govt mulls curbs on foreign firms in ‘strategic areas’

    Govt mulls curbs on foreign firms in ‘strategic areas’

    While the idea is to look at all overseas players, the focus is on firms from countries such as China, which are seen to be sensitive. The talks for a set of possible restrictions come at a time when the Centre is weighing the option of allowing Chinese telecom major Huawei to participate in 5G trials.

    Purchase without bill may be big GST leakage source

    Purchase without bill may be big GST leakage source

    B2C sales have been the key source of leakage of GST as consumers are often cajoled into paying in cash without taking a bill. The issue was discussed in detail at the first national GST conference, which was attended by senior officers from across the country, with officials suggesting that a check on this channel of leakage could bolster revenue by 15-20%.

    Govt set to infuse ₹1,000 crore equity in IIFCL

    Govt set to infuse ₹1,000 crore equity in IIFCL

    The recent churn in the financial sector has seen private players such as ICICI Bank and Axis Bank shun the term loan business, while even public sector players — including State Bank of India — are reluctant to lend to infrastructure projects, which not only have a long-gestation but also carry massive implementation risks.

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