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IMF cuts India s GDP growth forecast to 9 5 per cent for fiscal year 2021-22

Express News Service NEW DELHI: The International Monetary Fund (IMF) has cut India’s economic growth forecast by three percentage points to 9.5% for the current fiscal from its earlier projection of 12.5%, citing “lack of access to vaccines” and chances of a third Covid wave. “Growth prospects in India have been downgraded following the severe second Covid wave during March-May and expected slow recovery in confidence from that setback,” IMF said in the latest edition of its World Economic Outlook report, released on Tuesday. For the next fiscal, however, the IMF has forecast an 8.5% growth for India, 160 basis points higher than its April forecast. The upward revision is mainly due to the low base of the previous year’s growth forecast.

Republic ofAnuradha shuklaGita gopinathInternational monetary fundNews serviceWorld economic outlookகுடியரசு ஆஃப்அனுராதா சுக்லாகீதை கோபினத்சர்வதேச பண நிதிசெய்தி சேவைஉலகம் பொருளாதார ஔட்‌லுக்

Finance Ministry issues order to implement Cabinet decision on DA, DR hike from July 1

Finance Ministry issues order to implement Cabinet decision on DA, DR hike from July 1
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Anuradha shuklaUnion cabinetMinistry onDepartment of expenditureDefence servicesFinance ministryDearness allowanceDearness reliefDefence services estimatesArmed forcesஅனுராதா சுக்லாதொழிற்சங்கம் மந்திரி சபைஅமைச்சகம் ஆன்துறை ஆஃப் செலவுபாதுகாப்பு சேவைகள்நிதி அமைச்சகம்

India set to gain from global tax framework; more start-ups to come

Express News Service NEW DELHI: As the world is inching towards global tax framework, India expects to gain minimum about $12-13 billion annually in taxation, which it loses to offshore tax havens, once the framework is implemented and expects many companies shifting base back to India. “Global tax framework is moving the way India wants it so it is a welcome move. Although the negotiations are still on and much will depend on the fine prints, our internal assessment suggests that even with a conservative estimate India will gain about $12 billion -$13 billion annually, which currently we are losing out. Also this will be a great disincentive for companies to shift base to low tax regime and will help in adding jobs as well,” a senior finance ministry official said.

Nirmala sitharamanAnuradha shuklaJanet yellenRohinton sidhwaTax justice networkNews servicePillar oneDeloitte indiaMinister nirmala sitharamanஅனுராதா சுக்லாரோஹிண்டன் சிதுவாவரி நீதி வலைப்பின்னல்செய்தி சேவைதூண் ஒன்றுடெலோய்ட்டே இந்தியா

WPI inflation eases to 12 07 per cent in June; food, crude prices soften

WPI inflation eases to 12 07 per cent in June; food, crude prices soften
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Anuradha shuklaIndustry ministryஅனுராதா சுக்லாதொழில் அமைச்சகம்