ALSO READUrjit Patel navigates the most difficult year in RBI's history Leather exports may dip by 20% if GST-related issues go unheeded: CLE Adani group to foray into highway construction sector Exporters in a spot as GST refunds delayed Fiscal, monetary discipline important, says RBI chief Urjit Patel
Exports jump 30%, trade deficit high at $13.8 bn The GST Council's efforts to resolve exporters' woes on refunds seem to have started yielding results. Exports grew 30.55 per cent in November, a month after it contracted 1.1 per cent, also due to the low base effect and rising petroleum prices.
In fact, petroleum products, along with engineering goods, gems and jewellery, and chemicals, drove nearly 80 per cent of the rise in merchandise exports. Read more Govt okays sops for leather sector, waives fee for small digital payments The Cabinet on Friday cleared a Rs 2,600-crore proposal to boost job creation in the leather industry, lowered the merchant discount rate (MDR) on transactions up to Rs 2,000 through debit cards, BHIM UPI or Aadhaar-enabled payment systems to promote digital transactions, and approved a series of Bills, including one amending the Specific Relief Act to smoothen enforcement of contracts. Read more Growth slowdown bottoming out, says RBI governor While expectations on price rise remain stable for the moment, “considerable caution and vigilance is warranted on the inflation front” but the slowing in growth could be over, said Reserve Bank of India (RBI) Governor Urjit Patel. Read more Adani group to foray into highway construction sector The Adani group, which has a presence in the power, coal and maritime sectors, would soon foray into the highway construction sector. Read more Millennials pick bitcoins over gold Twenty-year-old Sahil Shah, a business administration student at Nirma University, Ahmedabad, started dabbling in bitcoin investments four years ago, and has been an avid investor ever since. Read more