My World

My World

GST win-win deal for all: Jaitley

Finance Minister Arun Jaitley today described the Goods and Services Tax (GST) as a "win- win" deal for all as it will expand the tax net, end "inspector raj" and bring down prices of goods.

India's plans to reduce oil dependency could witness hurdles


 India’s plan to reduce its dependency on oil imports by 10 per cent by 2022 is likely to take a marginal hit in current fiscal as good monsoon and gradual acceleration of economic activity is all set to push up crude oil demand in the country to the double digit growth.

But lower global crude oil prices would come to the aid of the country as even with growth in demand the overall crude oil import bill of the country would rise only marginally over FY17 when country imported about 213 million tonnes of oil by paying about $ 70 billion.

Washout in Parliament on day 1 - Mayawati resigns from RS


The Monsoon session of Parliament had a stormy start on Tuesday, with the opposition forcing a washout by creating pandemonium over various issues and an angry BSP chief Mayawati resigning from the Rajya Sabha for not being allowed to speak on the dalit issue. Members from parties like the Congress, the Trinamool Congress, the Left parties and the RJD created uproar in both the Lok Sabha and the Rajya Sabha as soon as the Houses met for the day.

MHA report claims J&K situation now better than 2010

As the opposition was gearing to corner the Centre on the worsening security situation in Jammu and Kashmir, a union home ministry’s report tabled in Parliament on Tuesday claimed that number of terror attacks in the state and incidents of stone pelting have come down compared to last year. The report aims to puncture opposition claims that violence in the troubled state had gone up since the BJP and People’s Democratic Party (PDP) alliance assumed power.

Onion rotting in MP, loss could be Rs 500 cr

Since most of the stocks are lying almost in open without proper protection from rain, onions have started rotting. According to a back-of-the-envelope calculation, the loss could be about Rs 500 crore.

File more disclosures: Sebi to banks

Markets regulator Sebi on Tuesday asked listed banks to make additional disclosure on divergence in asset classification and provisioning to stock exchanges in a prescribed format. The move will help banks to recognise their stressed assets as non-performing more uniformly. The banks will have to disclose where additional provisioning requirements assessed by RBI exceed 15 per cent of the net profit for the reference period.