BUSINESS
GST collections for August at Rs 1,59,069 crore, 3.6% lower than July
The figure was, however, 11 per cent higher than the GST collections of August 2022, which were Rs 1,43,612 crore.
PM Modi lauds UPI transactions crossing 10bn mark in August
"This is exceptional news! It is a testament to the people of India embracing digital progress and a tribute to their skills. May this trend continue in the times to come," the PM said in a comment on X (formerly Twitter).
GDP growth will likely moderate in the quarters ahead
Falling income growth in the urban sector, shrinking corporate profitability, fading momentum in (front-loaded) government capex, demand-curbing monetary policies and diminishing global growth prospects may weigh on output, the report said.
GST revenue likely to be 11% higher in August on year-on-year basis, says revenue secretary
Revenue secretary Sanjay Malhotra told reporters in Gurugram on the sidelines of an event, that GST revenues for August 2023 have shown a growth of 11 per cent year on year due to increased compliance and less evasion.
ious share transfer case involving Axis Bank, Max Financial referred to RBI, SEBI: IRDAI
Last October, the Insurance Regulatory and Development Authority of India (IRDAI) had penalised Axis Bank Rs 2 crore for the share transactions which was done mainly to get excess remuneration as corporate agent of Max Life than permissible under the rules.
UPI-based payments cross 10 bn monthly transactions for 1st time
Monthly transaction count on UPI crossed 10.24 billion with a net transaction value of Rs 15.18 trillion, the NPCI confirmed late on Thursday.
Commercial LPG cylinder prices cut by Rs 158
Earlier this week, the government had slashed prices of domestic LPG cylinder by Rs 200 for all connection holders across the country.
Moody's raises India's GDP forecast to 6.7% for 2023
"Since the second quarter out performance creates a high base in 2023, we have lowered our 2024 growth forecast from 6.5 percent to 6.1 per cent. Given the robust underlying economic momentum, we also recognise further upside risk to India’s economic growth performance," it said on Friday.
SEBI proposes agency to validate claims of intermediaries
Intermediaries/ ther entities need to showcase their performance to attract more clients and grow and continue to do business. However, in the rush for more clients, some of these entities may indulge in making inflated claims of their performance or recommendations to investors, thereby misleading the investors, said a SEBI consultation paper.
ICEA urges govt to rethink Nov 1 laptop import restriction deadline, seeks 9-month breather
In the letter sent to Alkesh Kumar Sharma, Secretary, MeitY, on August 22 and seen by IANS, Pankaj Mohindroo who is the Chairman of ICEA wrote that an overarching factor that should be taken into consideration in "avoiding supply chain disruption till domestic production ramps up" is that any “reduction in supplies or even an indication will lead to hoarding and market distortion”.
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