-The Indian Express As the Modi government completes three years, here are three potentially game-changing steps it could now take to harness the sector’s unrealised potential Amidst the predictable tidal wave of opinion pieces to mark the Narendra Modi government’s third anniversary, one little event last week squeezed its way into the inside pages of a few newspapers. This was a call for a “farm strike” in Maharashtra from June 1,...
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Insurance premiums set to go up under GST regime -Mayur Shetty
-The Times of India MUMBAI: For the middle class, an immediate impact of GST would be the higher premium outgo due to the increase in rate of tax on insurance following implementation of the Goods and Services Tax. For families that own a car and pay for health and term insurance the increase in annual outgo would be close to Rs 1,000. "The immediate impact will be an increase in the tax...
More »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 »Cash is back as digital payments dip on cost -TCA Sharad Raghavan
-The Hindu PoS devices’ demand falls on remonetisation, user charges Cash transactions are beginning to trump almost every form of digital payment alternative with April clocking a decline in volumes as well as value of transactions conducted through cards, mobile banking and the Unified Payment Interface (UPI). The trend assumes significance six months after the Centre announced demonetisation of ?500 and ?1,000 notes on November 8. The near-completion of the remonetisation process and merchants...
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...
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