- As per World Bank’s biannual economic update South Asia Economic Focus,
India's GDP growth will remain 7.6 % in 2016 and 7.7 % in 2017.
- International Monetary Fund (IMF) has forecast India’s GDP
growth at 7.6 % for FY17 (2016-17 ) and FY18 (2017-18) in its World Economic
Outlook (WEO) report.
- As per BSE Data on Market Capitalization
- TCS
- Reliance Industries
- HDFC Bank
- ITC Limited
- ONGC
were ranked as the 1
st,
2
nd, 3
rd,4
th ,5
th most valuable
company respectively.
- Finance Ministry has set up a Public Debt Management Cell
(PDMC), with a view of streamlining government borrowings and better cash
management for deepening bond markets. It has been planned to upgrade PDMC to
Public Debt Management Agency (PDMA) in another 2 years.
- Goods and Services Network (GSTN) and Director General of
Foreign Trade (DGFT) signed a Memorandum of Understanding (MoU) for sharing of data
on foreign exchange realisation and Import Export code data.
- Government proposed 4 GST rate slabs for new indirect tax
regime namely:
- Standard GST rate of 18 %
- 6 % - Costly items and necessary food items
- 12 % - FMCG and Food Items
- 26 % - Luxury Items
- India's foreign exchange reserves reached a record new high
of USD 371.99 billion
- Incorporation of companies made simpler by MCA through
introducing Simplified Proforma for Incorporating a Company Electronically
(SPICe) e-Form-32, where Memorandum and
Articles of Association need to be filed electronically,
- Reserve Bank of India (RBI) permitted startups to raise
external commercial borrowings (ECBs) of up to $3 million in a financial year
for three year tenure.
- Telecom Regulatory Authority of India (TRAI) recommended
Department of Telecom (DoT) to impose penalty of 3,050 crore rupees on Bharti
Airtel, Vodafone and Idea cellular, for
non-compliance
of licence conditions and service
quality norms and high rate of call failures and congestion at
interconnect points for Reliance Jio with ulterior motive of stifling competition
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