India, China contribute 45% of global growth: IMF

India, China contribute 45% of global growth: IMF IMF has projected India’s GDP to recover to 7.4% in FY2018-19 from an estimated 6.7% in FY2017-18, a tad higher than 6.6% estimated by CSO China and India—Asia’s first and third largest economies, respectively—should aim for “growth-friendly” fiscal consolidation to promote sustainable, inclusive growth while enhancing resilience […]

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India merges anti-dumping, import safeguard bodies

India merges anti-dumping, import safeguard bodies The commerce ministry said the government has amended the rules on allocation of business, shifting work pertaining to safeguard measures to the ministry India has finally merged the two separate bodies handling anti-dumping and import safeguards to form the Directorate General of Trade Remedies (DGTR), in line with US […]

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Govt considering 100% FDI in insurance intermediaries to attract more funds

Govt considering 100% FDI in insurance intermediaries to attract more funds The FDI policy, at present, allows 49 per cent foreign investment in the insurance sector The government is considering allowing 100 per cent foreign direct investment (FDI) in insurance intermediaries with a view to give a boost to the sector and attracting more funds, […]

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Government likely to withdraw tax notice on free banking services

Government likely to withdraw tax notice on free banking services Every bank offers a different slab of minimum balance to customers, based on which ‘free services’ are provided The tax department will likely withdraw a show-cause notice issued to several banks asking them to pay the service tax on ‘free services’ provided to customers, following […]

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Economy under recovery after dual shock of demonetisation and GST: Research

Economy under recovery after dual shock of demonetisation and GST: Research On the monetary side, areas of concern are rising bond yields which indicate potential slippages on the fiscal front The Indian economy is gradually coming out of the twin shock of demonetisation and GST which temporarily derailed growth, India Ratings said.The ratings agency, however, […]

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