Page 28 - Indivjal Dhasmana

Hasmukh Adhia panel suggests Gujarat reorient budget towards services

State must increase spending on tourism, IT, financial services, education and sports.

Retail inflation may settle at 5.7-6.9% in FY23 after fuel duty cuts

Economists expect 40-50 bps hike in repo rate by MPC next month

Fuel duty cuts likely to help ease retail inflation by up to 25 bps

But experts call for other fiscal measures too to bring inflation down

Monthly budget up 10% in three months amid rising fuel prices: Survey

Seventy per cent of those surveyed saw at least 10 per cent increase in their monthly budget, while 55 per cent expect prices to go up by another 10 per cent in the next three months

IMF 'corrects' maths, says India to be $5-trillion economy by FY27

CEA disputed IMF's earlier projections that showed goal to be achieved by 2028-29

EAC-PM's report suggests scheme for urban jobless, universal basic income

According to the report, while growth has taken place in terms of an increase in wages earned, the benefits of that growth have been concentrated and this has marginalised the poor further

Will the govt's plan to prune import dependency in a new avatar work?

The aim is to boost domestic output, without raising tariffs or providing subsidy, of items on whose imports India is heavily dependent. The plan is to start with consumer and capital goods

Vehicle fuel prices responsible for around 30% of April inflation spurt

The RBI's Monetary Policy Committee is likely to hike the repo rate in June after it had announced a 40 basis point increase in it in an off-cycle announcement earlier this month

Am hoping govt, RBI will control inflation in medium term: EAC-PM member

Sanjeev Sanyal tells reporters govt is taking several steps to rein in process, including free rations, pruning of taxes; RBI has increased policy rate

Non-commercial construction in education institutions to draw less GST

Gujarat AAR ruled that such buildings would attract 12% GST, not 18% levied for other construction activities

RBI may 'kill excess demand' in economy in six-eight months

The RBI increased the limit for keeping specified securities in the HTM portfolio from 22 per cent to 23 per cent

Why pruning general debt to 66% of GDP over next 5 years looks unachievable

An RBI report says even in the best case scenario, general govt debt may not dip below 75% of GDPl and if there are events, it may in fact rise to 90% of GDP by 2026-27

India's FY22 per capita income projected higher than Bangladesh: IMF

Bangladesh is likely to topple India again for each of the next six years

Monetary policy must respond nimbly to second inflation round: IMF official

In a Q&A, the lead author of IMF's Asia and Pacific Outlook, dwells on the impact the Fed's move on the benchmark rate could impact India

Will equip PM, ministers with ways to deal with uncertain world: Suman Bery

'NITI should be seen as an honest broker between the Centre and states', said Bery

Gujarat High Court offers GST relief to homebuyers of certain properties

Currently, 18% GST is levied on construction services in real estate. However, one-third abatement is given for land, due to which effective value of taxation comes to 12%

RBI repo rate hike: Higher yields leave Centre and states concerned

Cost of borrowing to go up; analysts say robust tax revenues crucial

Retail inflation may have touched 7.4-7.5% in April, say economists

Consumer price index (CPI)-based inflation rate rose to 6.95 per cent in March 2022 from 6.07 per cent in the previous month

April GST mop-up notwithstanding, Rs 1.5 trn a month may not happen in FY23

CBIC to focus on scrutiny of returns and audit for better compliance during current fiscal; finance ministry official sceptical, says April usually has high collection due to payment of arrears

India's $5-trillion economy dream: Not before FY29, says IMF

However, the IMF data conveys that the economy will be $4.92 trillion in FY28, clearly alluding to the fact that the target will be realised in FY29