Plan and Policy

Plan & Policy

October CPI seen at 3.45%

Retail inflation in the country may have inched higher in October owing to increase in prices of miscellaneous and personal care items and impact of rise in housing rent allowances, but will remain well below the Reserve Bank of India’s (RBI) medium-term outlook of 4 per cent, according a poll of economists.

India consumer price index-based inflation, the key policy target of the central bank is likely to have quickened to 3.45 per cent in October from 3.28 per cent in September, according to the median estimate of 18 economists polled by TickerNews.

Rahul targets Modi, Rupani over Sebi fine issue

Congress vice-president Rahul Gandhi targeted Gujarat Chief Minister Vijay Rupani on Sunday over the SEBI slapping fine on his firm for alleged manipulative share trade, and asked the prime minister to speak out on the issue.

Speaking during his poll campaign tour of Gujarat, he claimed that the share market regulator has termed Rupani "beimaan" (dishonest) and imposed fine on him.

Gandhi asked Prime Minister Narendra Modi to speak out against his "dishonest" chief minister.

Winds of change, says Cong after MP assembly bypoll win

The Congress's victory in the Chitrakoot Assembly bypoll in Madhya Pradesh signals the "winds of change" blowing in the political landscape in the country, its chief spokesperson said on Sunday.

Taking to Twitter, Congress's chief spokesperson Randeep Singh Surjewala thanked the voters for reposing faith in the party.

Banks won’t get easy money under recap plan: Banking secy

State-owned banks will not get easy money and they would have to go in for reforms for claiming a part of the Rs 2.11 lakh crore recapitalisation plan cleared last month.

“Everything is linked to reforms, which each board will consider within a short time as to what kind of business and how they want to go ahead. It’s not easy money which is going to come, that is the main point. It has to be followed with a whole lot of reforms,” said financial services secretary Rajiv Kumar.

SMEs decry GST rate cut, say it’s all politics

Big political parties are indulging in a slugfest over owning credit to GST Council slashing rates last week. But small manufacturers are far from being upbeat. They termed the government decision as “just tinkering of some provisions.”

The SME (small and medium enterprises) sector’s demand for structural change in GST regime has not been met in spite of the fact that it is the largest employer in the country, they said. Small manufacturers further alleged that the move to slash GST rates is populist in nature and is aimed at winning elections.

Caps on spectrum holding for telcos set to go up soon

A telecom operator buying out another telco may soon be allowed to hold up to 65 per cent of a specific band spectrum of the acquiring company, a development which will have significant impact on the sector which is witnessing a slew of M&As.

FM did not apply mind on GST, PM should remove him: Yashwant

Veteran BJP leader Yashwant Sinha today launched a fresh attack on the government, saying Finance Minister Arun Jaitley had not applied his mind while rolling out GST and should be removed from his post.

Sinha, who served as finance minister in the Atal Bihari Vajpayee government, said demonetisation has not achieved its goal of flushing black money out of the system.

He also charged the current regime with resorting to lies on the note ban and the new tax regime.

Rate on 200 items likely to be cut to 18%

A big relief ongoods and services tax (GST) front is on the way for consumers and businesses. The GST Council is all set to slash the rate on 200 daily use items from 28 per cent to 18 per cent, making them cheaper. In its two-day meet being held at Guwahati, the Council is also likely to ease compliance burden on small businesses.

Household items such as sanitary ware, suitcase, wallpaper, plywood and stationery articles would see the tax incidence coming down.

Put scrapping of road projects in abeyance, Gadkari tells NHAI

Days after the National Hi­g­hways Authority of India (NHAI) named 20 developers, including L&T and Hi­ndustan Construction Co­mpany, and sought to debar them from bidding for upc­oming projects, Union tra­nsport and shipping mi­nister Nitin Gadkari (in pic) has asked the regulator to put its decision in abeyance.

SBI chief hints at end of the rate cut cycle

SBI on Thursday virtually ruled out any softening of interest rates for lending, as there is little scope for doing so with bond yields rising. “It seems so”, SBI chairman Rajneesh Kumar said cryptically, in reply to a question if the rate cut cycle is over for now.

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