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Forex kitty continues to swells, scales past $451 bn mark

Announcing the fifth bi-monthly monetary policy on Thursday, governor Shaktikanta Das had said the reserves touched USD 451.7 billion as of December 3, an increase of USD 38.8 billion since April.

View: It's time for a fair distribution of GST proceeds between Centre and states

A lion’s share of GST goes to states. Actual transfers of the Centre’s gross tax collections are about 36%.

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%.

Government to check for inconsistencies in Household Expenditure survey

The meeting took place in the wake of a leaked draft of the Household Consumer Expenditure survey report showing a decline in consumer spending in rural India in 2017-18. MoSPI, which had junked the survey, said it would not use it for official purposes but was examining its repercussions and impact on all base revision of various economic indicators.

States demand pending GST compensation

Finance ministers of Delhi, Punjab, Puducherry and MP, and representatives of Kerala, Rajasthan, Chhattisgarh and West Bengal met Nirmala Sitharaman and said the delay in GST compensation transfer has put them in an acute financial position. MP commercial tax minister Brajendra Singh Rathore said the Centre owes nearly Rs 3,000 crore to the state for August-November.

Govt raised Rs 765.37 cr from anti-dumping duty till Nov 27: Piyush Goyal

“The basic intent of anti-dumping measures is to eliminate injury caused to the domestic industry by the unfair trade practice of dumping and to create a level playing field for the domestic industry,” commerce and industry minister Piyush Goyal told Lok Sabha. In a separate reply, he said the government will use all available instruments in the national interest, as and when necessary.

Lenders meet RBI, mull 4-month programme to resolve DHFL Case

Banks have proposed a four-month programme to resolve the Dewan Housing Finance (DHFL) case, the biggest bankruptcy case in the financial services sector after the Insolvency and Bankruptcy Code.

DHFL promoters gave personal guarantees to Rs. 80,000-cr Loans

DHFL became the first financial services company on Monday to be admitted to the bankruptcy courts after the rules were changed last month. The Reserve Bank of India has already superseded the board and appointed an administrator.

Government raises Rs 2.79 lakh crore through divestment in last 5 years

The Minister said that the government follows a policy of disinvestment through minority stake sale and strategic disinvestment. So far, the government has given 'in-principal' approval for strategic disinvestment of 33 central public sector undertakings (CPSEs).

Nearly 3 per cent of Mudra loans turn into bad loans: Government

Loans are classified as MUDRA under the PMMY. The loans are given under three categories of Shishu, Kishore and Tarun to signify the stage of growth and funding needs of the beneficiary.

GST collection crosses Rs 1 lakh crore mark in November

GST collection crosses Rs 1 lakh crore mark in November

Helped by government stimulus measures, the Goods and Services Tax (GST) collection in November crossed Rs 1 lakh crore, after dropping below the Rs 1 lakh crore level for three consecutive months amid a deceleration of economic growth. November's GST collection stood at Rs 1,03,492 crore, of which CGST was Rs 19,592 crore, SGST Rs 27,144 crore, IGST collections stood at Rs 49,028 crore (including Rs 20,948 crore collected on imports) and Cess was recorded at Rs 7,727 crore (including Rs 869 crore collected on imports).

Finally, some good news: November GST collections up 6%

Finally, some good news: November GST collections up 6%

GST collections were Rs 97,637 crore in November last year and Rs 95,380 crore in October this year. The increase in collections was a sign of economic revival, recovery in demand and measures to ease compliance, government officials told ET. After two months of negative growth, GST revenues witnessed an impressive recovery.

Q3 GDP to be worse: P. Chidambaram

Q3 GDP to be worse: P. Chidambaram

"As predicted widely, GDP growth in Q2 has come lower at 4.5%. Yet the Government says 'All is well'. Q3 will not be more than 4.5% and in all likelihood will be worse," Chidambaram said in a tweet posted by his family on his behalf.

'Fuel, time worth Rs 12,000 crore wasted at toll plazas per year'

'Fuel, time worth Rs 12,000 crore wasted at toll plazas per year'

India could save up to Rs 12,000 crore every year in terms of fuel and man-hours with the switch to 100% FASTag-based toll collection on national highways from Dec 1. Live monitoring of traffic by a startup shows long waiting times at many of the 488 NH toll plazas. At 2pm on Thursday, the average waiting time was 5-10 mins at 188 plazas and 10-20 mins at 32 others.

View: Shaktikanta Das has the easiest, most unenviable job in central banking

View: Shaktikanta Das has the easiest, most unenviable job in central banking

The troubling state of the economy makes Das's task uncomplicated. India's pace of growth is slowing dramatically; govt numbers due today may well show the expansion slipped below 5% last quarter, the weakest pace since GDP figures were reconfigured in 2012. Last year, the nation was churning out GDP numbers with an 8 in front of them.

Government measures fail to stem slide in NBFC credit

Government measures fail to stem slide in NBFC credit

Liquidity remains a worry for the NBFC sector; loan sanctions fall 34% in September quarter.

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