-The Hindu Millet traders plan to approach Finance Ministry for relief; tax rate will not only affect consumers, but also farmers Bengaluru (Karnataka): The 5% tax on hulled grain, under the Goods and Service Tax (GST) to be rolled out from July 1, is going to be a dampener for many. For the first time, millet rice is coming into the tax bracket, and this will make it dearer for consumers. Known for...
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GST rates announced; milk, cereals to be exempted -Yuthika Bhargava
-The Hindu 81% items to be taxed at below 18% The Goods and Services (GST) Council on Thursday agreed on the fitment of almost all commodities in the various tax slabs under the new indirect regime to be rolled out on July 1. Milk, cereals (unpackaged and unbranded), and jaggery will be exempt from any GST, while sugar, tea, coffee (except instant), and edible oil will be taxed at 5%. Common use items...
More »New WPI series suggests higher core inflation rate in past 6 months: CRISIL
-Business Standard WPI inflation for April is at 3.9%, which is 144 (bps) lower than the March inflation rate The Ministry of Commerce and Industry unveiled the revised wholesale price index (WPI) on May 12, 2017 as per the 2011-12 base year. As per this release, WPI inflation for April is at 3.9%, which is 144 basis points (bps) lower than the March inflation rate. The decline is mainly due to a...
More »GDP conundrum -V Sridhar
-Frontline.in Recently released data from the CSO, which claimed that demonetisation had had no significant impact on the performance of the economy, raise more questions than provide answers. Official data released by the Central Statistical Organisation (CSO) on the last day of February, which claimed that the national gross domestic product (GDP) rose by 7 per cent in the October-December period, the third quarter of 2016-17, came as a morale booster...
More »Rising urban consumption revives ragi crop production -Soumya Gupta
-Livemint.com Major Consumer Goods players have caught on to the emergence of ragi as an alternative food, triggering production of the millet crop in India New Delhi: Just like the humble quinoa, which has risen to global prominence as a ‘super food’, ragi or finger millet was once a subsistence crop—a poor man’s staple. For the last four years or so, all that has changed. “Demand for ragi has come back as people are...
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