Plan and Policy

Plan & Policy

States' revenue shortfall post-GST at Rs 36Kcr: Amit Mitra

There has been a shortfall of Rs 36,000 crore in projected revenues in the first four months post Goods and Services Tax (GST) implementation, West Bengal Finance Minister Amit Mitra said today.

While the projected collection at 14 per cent growth was Rs 1,72,000 crore, the actual figure realised had been Rs 1,36,000 crore, resulting in a deficit of Rs 36,000 crore for the first four months till November, Mitra, who is also a GST Council member, told reporters on the sidelines of an event here.

Gujarat, Himachal poll results to set course for winter session

The Gujarat and Himachal Pradesh assembly polls results are likely to set the course of the Winter Session of Parliament beginning Friday, with both treasury and opposition benches hoping for a positive outcome before they lock horns in the two Houses.

Strong reaction to exit poll seen

The market ended higher after a volatile trading session. The Sensex gained 193.66 points, or 0.59 per cent, to settle at 33,246.70. The Nifty rose 59.15 points, or 0.58 per cent to settle at 10,252.10. The Sensex closed well past the 33,000 level after skidding below that level in intraday trade.

Indices recovered sharply after hitting fresh intraday low in early afternoon trade as investors digested the Fed decision to raise interest rates for the third time this year.

Infra spending may top Rs 5 lakh crore in FY19

The Centre will give a massive push to build and modernise its railways, waterways, roads and airports in the next financial year, as the Narendra Modi-led government aims to upgrade the strained infrastructure and boost the investment climate in the country.

India-US yield spread jumps on Fed soft stance, RBI rate hike fears

The spread between the 10-year benchmark US government bond yield and its comparable Indian bond widened to its highest level in eight months, supported by the softer stance of the US Federal Open Market Committee (FOMC) and speculation among local investors of a likely RBI rate hike in mid-2018.

Low-teen EPS growth, volatility seen for 2018

It seems 2018 is going to be a different year for the equity market that delivered around 25 per cent return in 2017. Top foreign banks and asset managers predict significant uncertainty around growth and higher volatility next year from state and general elections

This year, the market had a one-way bull run from the very start, with the Sensex starting around the 26,500 range and reaching 33,246, as of today, with minor volatility in between.

SC allows Voda to begin 2nd arbitration in $2b tax dispute

The Supreme Court on Thursday allowed Britain’s Vodafone to initiate a second arbitration process under an India-UK investment pact over a long-running $2 billion-plus tax dispute with New Delhi. A two-judge panel said a second arbitration tribunal may be set up and its proceedings can begin after a regional court formally lifts a stay order on the move. The Delhi High Court is expected to rule on the case in January.

Exit polls predict BJP retaining Guj, winning Himachal

All exit polls have predicted a clean sweep for BJP in Himachal Pradesh and Gujarat. The BJP is expected to topple the Congress government in Himachal Pradesh and retain Gujarat for a record fifth consecutive time. Most of the surveys have predicted that BJP will win around 110 seats in the 182-member Gujarat assembly. The contest is likely to be one-sided in Himachal Pradesh, where BJP is expected to win around 50 out of 68 seats.

Will significantly overtake disinvestment target: Jaitley

Finance Minister Arun Jaitley today said the government will "significantly overtake" the disinvestment target for the current financial year.

Speaking at the AGM of industry chamber Ficci, the finance minister also said that Air India disinvestment plan is moving expeditiously and is on track.

Need to continue momentum on building infrastructure: Jaitley

Finance Minister Arun Jaitley today emphasised the need to continue the momentum on infrastructure creation and expedite investment in railways to propel the Indian economy.

Addressing industry association FICCI's annual general meeting here, he said India has had one of the highest infrastructure spendings in the world but the momentum needs to be sustained.

There is a need to "hurry up" on investment in railway infrastructure, including on stations and super fast and bullet trains, he said.