Author Archives: Loknath Das

GST Council cuts tax rates on 29 items, discusses simpler return-filing process

The Goods and Services Tax Council (GST Council) on Thursday cut tax rates on 29 products and 54 services at its 25th meeting and agreed to make the process of filing tax returns simpler. At the meeting chaired by finance minister Arun Jaitley, the federal indirect tax body cut rates on products including pre-owned vehicles, household cooking gas cylinders from ... Read More »

Keeping a close watch on petrol and diesel prices, says Pradhan

Oil minister Dharmendra Pradhan remained non-committal on Thursday on cutting excise duty on petrol and diesel, which have touched record highs, saying the government was keeping a close watch on the situation. Petrol price rose to Rs 71.56 per litre in Delhi on Thursday, the highest since August 2014. Rates in Mumbai are almost touching Rs 80. Diesel prices soared ... Read More »

India To Become $5 Trillion Economy In 8-9 years: Suresh Prabhu

Manufacturing sector contributes 20 percent to India’s economy. (Representational) NEW DELHI: Commerce and Industries Minister Suresh Prabhu today said India is expected to become a $ 5 trillion economy in the next 8-9 years with the manufacturing sector contributing 20 per cent to that. “India is going to be $5 trillion economy in 8-9 years. $1 trillion will come from ... Read More »

Apple Plans New US Campus, Says Will Spend $350 Billion Over Next 5 Years

Apple has for years faced scrutiny and criticism around the world for its tax policies (Reuters) Apple, the world’s most valuable company, said Wednesday it will spend $350 billion in development and create 20,000 jobs in the United States in the next five years, outlining for the first time how it will invest in the U.S. economy following the new ... Read More »

China’s 2017 GDP Accelerates For The First Time In Seven Years

China’s GDP grew 6.8 percent in the December quarter from a year earlier Beijing: China’s economy grew faster than expected in the fourth quarter of 2017, as an export recovery helped the country post its first annual acceleration in growth in seven years, defying concerns that intensifying curbs on industry and credit would hurt expansion. The official growth figures released on ... Read More »

Digital Now A Critical Element Of The Market, Says Infosys CEO Salil Parekh

Salil Parekh has been appointed as CEO of Infosys effective from January 2 Bengaluru: Underlining the huge potential of the digital business, Infosys CEO and MD Salil Parekh today said it is a critical element of the market. Addressing journalists while announcing the third quarter results, Parekh said, “We are very clear in any case that the market has evolved and ... Read More »

Indian Online Portal, Wholesale Market Listed As “Notorious” By The US

WASHINGTON:  Popular Indian portal IndiaMart.com and Delhi’s wholesale market Tank Road have featured in the annual American notorious markets list which was released on Friday and is topped by China. The list released by the US Trade Representative (USTR) highlights 25 online markets and 18 physical markets around the world that are reported to be engaging in and facilitating substantial copyright ... Read More »

Global Cues Lift Gold Prices To 7-Week Highs

Sustained buying by local jewellers kept gold prices elevated, traders said. New Delhi: Rising for the third straight day, gold prices jumped by Rs. 100 to trade at a seven-week high of Rs. 30,750 per 10 grams at the bullion market on Saturday amid a firm trend overseas and local buying push. Silver too gained Rs. 100 to Rs. 39,900 per kg, backed by increased offtake by industrial units ... Read More »

H-1B Visa Holders Drive Innovation, Help Build US Economy: American Lawmakers

Hundreds of thousands of Indians on H-1B visas drive innovation, build and strengthen the US economy WASHINGTON:  Asserting that H-1B visa holders drive innovation and help build and strengthen the American economy, top US lawmakers today backed the Trump administration’s decision that it was not considering any proposal which would force such people to leave the country. “H-1B visa holders, many ... Read More »

PM Modi, Economists Brainstorm On Ways To Revive Growth

The interactive session, organised by NITI Aayog, was attended by PM Modi (File Photo) NEW DELHI:  Prime Minister Narendra Modi today brainstormed with economists and experts on the state of the economy as the government looks to revive growth which is set to hit a 4-year low. The meeting with over 40 economists and sectoral experts came weeks before the NDA-government ... Read More »