Time to reduce the tax burden
Bikky Khosla | 27 Dec, 2016 |
| Ahead of the Union Budget, the Indian industry has pitched for a sharp cut in the corporate tax rate. In a pre-Budget meeting convened by the Finance Minister recently, industry leaders have viewed that the Government, instead of looking for phased reduction of the corporate tax rate, should cut it in one go from the existing 30 percent to 18 percent |
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Fed rate hike
Bikky Khosla | 20 Dec, 2016 |
| It was a question of when, not if, and the US central bank finally pulled the trigger last week, announcing its long-awaited interest rate hike. It went for a 25 basis points raise in federal funds rate, which was clearly on expected lines, but what had not been anticipated was its future rate hike forecast. |
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GST delay
Bikky Khosla | 13 Dec, 2016 |
| It is pretty clear by now that GST roll- out is unlikely by April 1, next year. The 6th meeting of the GST Council ended on Sunday without a consensus on any of the three key bills: Central GST, Integrated GST and State GST. |
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Renewed growth concerns
Bikky Khosla | 06 Dec, 2016 |
| Our GDP grew at a lower-than-expected rate in the September quarter. Official data released last week shows that the Indian economy grew at 7.3% in second quarter, which is higher than the 7.1 percent in the previous one, but lower than the general expectation of 7.5%. |
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Moving to a cashless economy
Bikky Khosla | 29 Nov, 2016 |
| The demonetization move that initially brought business activities across the country to a halt is now paving the way for a cashless economy. More and more people are nowadays going for cashless modes of payment. |
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Demonetization: SMEs to get cheaper loans!
Bikky Khosla | 22 Nov, 2016 |
| Since the demonetization move was announced on November 8, it has been a tough time for our small-scale enterprises, which however, despite facing severe payments challenges, are largely applauding the anti-corruption and anti-counterfeiting effort. But now they can expect some good news. |
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Modi's 'masterstroke' cash ban
Bikky Khosla | 15 Nov, 2016 |
| What a week it was. First, Prime Minister Narendra Modi took the whole nation by surprise on Tuesday night by announcing that Rs. 500 and Rs.1000 would cease to be legal tender with effect from midnight. |
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India-UK trade ties
Bikky Khosla | 08 Nov, 2016 |
| British Prime Minister Theresa May is currently in India on a three-day visit. After taking office, It is her maiden bilateral trade visit outside the European Union (EU) that stands out in significance given that the post-Brexit Britain needs trade with India more than ever |
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Ease of doing business
Bikky Khosla | 02 Nov, 2016 |
| India has continued to rank low in the World Bank’s ease of doing business Index. The latest report 'Doing Business 2017: Equal Opportunity for All', published last week, places us in the 130th position, which, although represents an improvement of one rank over last year, looks disappointingly low |
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GST hurdles
Bikky Khosla | 25 Oct, 2016 |
| The third meeting of the GST Council ended last week without making much headway. After the first two meetings of the Council, things had appeared to be on track. Even the opening day of the third meeting looked promising, but differences soon started cropping up and the Council had to end its meeting abruptly on the second day |
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BRICS must now walk the talk
Bikky Khosla | 18 Oct, 2016 |
| The group of five emerging economies -- Brazil, Russia, India, China and South Africa -- wrapped up its 8th annual summit in Goa last week. These five countries -- which account for 20 percent of global economic output -- together have the potential to alter the order of world trade |
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Growth prospects
Bikky Khosla | 12 Oct, 2016 |
| India's GDP forecast has been revised upward to 7.6 percent. The International Monetary Fund (IMF) in its World Economic Outlook (WEO) last week came out with these new numbers, citing the Indian economy's resilience and robust growth momentum. |
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Climbing the competitiveness ladder
Bikky Khosla | 04 Oct, 2016 |
| It matters how competitive we are as a nation. It reflects our ability to create greater wealth and higher living standards. It shows our economy's stability and resilience. And now the good news is that India has jumped 16 places in the World Economic Forum (WEF)'s Global Competitiveness Index (GCI). |
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No CAD comfort
Bikky Khosla | 27 Sep, 2015 |
| India's current account deficit narrowed down to $300 million or 0.1 percent of GDP in April-June quarter, according to RBI data released last week. The deficit is now at its lowest level in 37 quarters and much lower than the $6.1 billion, or 1.2 percent of GDP registered in the same quarter a year ago. |
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Rupee devaluation
Bikky Khosla | 20 Sep, 2016 |
| Last week, a television channel reported that the Commerce Ministry might propose devaluation of the Indian Rupee to increase export competitiveness. The report sent shock waves through the markets. In no time, investors pull out funds and the currency fell over a two-week low, and it triggered the RBI to call forex dealers to check on their positions. |
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Start-up 'Deadpool': No need to panic
Bikky Khosla | 13 Sep, 2016 |
| A Bangalore-based start-up analytics firm has recently compiled India's first 'Deadpool' list, cataloging nearly 800 dead or dying technology start-ups, which are from diverse segments of technology, including e-commerce, online education, mobile software, etc. |
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Exports growth: Efforts not enough without direction
Bikky Khosla | 06 Sep, 2016 |
| The continuous decline in Indian exports has finally been arrested. Exports will rise now, but the growth will likely be slow and steady, and not fast as global demand is yet to pick up.These views came last week from our trade minister. |
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Inflation worries
Bikky Khosla | 23 Aug, 2016 |
| Inflation is rearing its head again! Retail inflation rose to a two-year high of 6.07 percent in July, much above the RBI's target of 5 percent. Wholesale inflation also shot up to a 23-month high of 3.55 percent. |
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GST: The long wait is over, almost
Bikky Khosla | 09 Aug, 2016 |
| The GST will come for sure, it is only a matter of time now. With the passage of the relevant Constitutional amendment bill by both Houses of Parliament, we have taken a giant step towards the biggest tax reform since independence. |
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Corruption watch
Bikky Khosla | 02 Aug, 2016 |
| In a first, India's corruption watchdog Central Vigilance Commission is working on an 'integrity index' to help government departments assess where they stand on anti-corruption measures. |
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25 years of reforms
Bikky Khosla | 26 Jul, 2016 |
| India's economic liberalization began in July, 1991 and it is now 25 years since our economic policy was completely overhauled. The transformation began with a crisis, however. The economy was near to bankruptcy; foreign exchange reserves were too weak to finance more than three weeks' worth of country's imports. |
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June exports: Return to growth
Bikky Khosla | 19 Jul, 2016 |
| Exports registered a slight rise of 1.27 percent at $22.57 billion in June. The uptick is in no way significant by itself, but what catches immediate notice is that it came after 18 consecutive months of decline, the longest fall in recent times. |
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Monsoon session: GST challenge ahead, again
Bikky Khosla | 12 Jul, 2016 |
| The Cabinet Committee on Parliamentary Affairs recently finalized the dates for the monsoon session of Parliament. It will be held from July 18 to August 12, and will have a total of 20 sittings over 26 days. Of late, there has been an increasing expectation that the arithmetic this time is in favour of the GST bill |
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Pay hike: Demand to get a boost
Bikky Khosla | 05 Jul, 2016 |
| The Cabinet last week broadly accepted the Seventh Central Pay Commission recommendations, a move that will lead to 16 percent pay hike and 24 percent increase in pension, benefiting 47 lakh serving central government employees and 53 lakh pensioners. |
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Brexit: Reforms can shield us from global shocks
Bikky Khosla | 28 Jun, 2016 |
| The week gone by saw some important developments. In a setback to the global economy, Britain decided to exit the European Union. The decision has sent a shock wave across the globe, but as far as India is concerned there is a unanimous view that we are fairly insulated from any collateral damage. |
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Rajan's exit
Bikky Khosla | 21 Jun, 2016 |
| RBI Governor Raghuram Rajan last week announced that he would step down in September. The move sent shock waves through India Inc. Industry leaders agree unanimously on his contribution to the economy. |
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Reforms must for growth to continue
Bikky Khosla | 14 Jun, 2016 |
| The April IIP numbers came as a shocker. Just when it seemed confidence in the economy had been restored by the fourth quarter GDP data, the industrial growth figures suddenly dampened the sentiment. Some sections are now even calling into question the recovery prospects, again. |
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GDP growth: Recovery not far off
Bikky Khosla | 07 Jun, 2016 |
| India's GDP grew 7.9 percent in the fourth quarter. Overall, the growth rate stands at 7.6 percent for the last fiscal, the highest in the last five years. Going by these numbers, the Indian economy continues to be the fastest growing large economy in the world, beating China again. |
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2 years of Modi government
Bikky Khosla | 31 May, 2016 |
| The Narendra Modi government has completed two years in office this month. In May, 2014 it came to power following a massive victory in the Lok Sabha elections and today if we look back it is quite evident that its achievements in these two years really deserve praise. |
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The promise of e-commerce
Bikky Khosla | 24 May, 2016 |
| The retail e-commerce sector in India tripled from $4.4 billion in 2010 to $13.6 billion in 2014, according to recently released official figures. Interestingly, this number was achieved despite a not-so encouraging Internet penetration and comparatively slow broadband speed. |
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New IPR policy
Bikky Khosla | 17 May, 2016 |
| The government last week approved a new Intellectual Property Rights (IPR) policy. It sets out seven broad objectives — including strong laws, effective enforcement, better administration, promotion of public awareness, human capital development, generation and commercialization of IPRs |
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Ease of doing business gets a push
Bikky Khosla | 10 May, 2016 |
| The Lok Sabha passed the Insolvency and Bankruptcy Code last week. This is a welcome development. Currently it takes around four years to wind up an ailing company and the Bill proposes to bring this time down to 180 days, extendable by another 90 days. |
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Skill development: Centre must walk the talk
Bikky Khosla | 03 May, 2016 |
| A recent move by the Finance Ministry has come as a surprise. It has allotted Rs.1,804 crore for skill development programmes against an amount of Rs.8,062 asked by the Ministry of Skill Development and Entrepreneurship. |
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Executive driven reforms
Bikky Khosla | 26 Apr, 2016 |
| The second leg of the Budget Session began Monday and this has brought the GST question again to the fore. Over the last few years, this bill has remained at the top of the legislative list of the Government, but unfortunately the effort to pass the bill has made little headway so far |
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Exports need strong push
Bikky Khosla | 19 Apr, 2016 |
| The Centre may soon come up with some steps to boost exports. In a meeting held recently, chairpersons of export promotion councils raised a number of concerns — including problems in getting credit, requirement of more incentives, MAT on special zones, etc. — before the Commerce minister who in turn assured that several support measures are in the pipeline for the sub-sectors that need help. Our exports contracted for the 16th month in a row in March and I hope this time the government would come up with some really strong measures to support faster revival of the sector. |
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FDI in e-retail
Bikky Khosla | 05 Apr, 2016 |
| The Centre last week came out with new FDI guidelines in retail e-commerce. As per the new norms, 100 percent FDI under automatic route is permitted in the "marketplace model" of e-commerce; such entities are barred from influencing the pricing of goods sold on their platform |
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MSME schemes: Where do the funds go
Bikky Khosla | 29 Mar, 2016 |
| Under the Credit Guarantee Fund Trust for Micro and Small Enterprises — simply known as CGTMSE — more than 22 lakh guarantees for an amount of over Rs 1 lakh crore have been approved since the scheme's inception. |
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MSME rehabilitation
Bikky Khosla | 22 Mar, 2016 |
| The RBI last week came up with a revised framework for revival and rehabilitation of MSMEs. The new guidelines, which follow a May 2015 notification, are applicable to MSMEs having loan limits up to Rs. 25 crore. |
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The message in IIP numbers
Bikky Khosla | 15 Mar, 2016 |
| A cosy consensus is building up that the Indian economy is recovering. There is little doubt that several positive policy actions, coupled with some fortuitous global factors, including falling oil prices are pushing the economy on a forward trajectory. |
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Exports slowdown: It's time to act, not to wait
Bikky Khosla | 08 Mar, 2016 |
| Latest exports data makes for dreary reading, again. Overseas shipments in January fell 13.6 percent from a year earlier. This is the 14th consecutive month of fall and it is a no brainer to say that this situation deserves immediate attention. |
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Budget 2016: A balancing act
Bikky Khosla | 01 Mar, 2016 |
| Finance Minister Arun Jaitley presented his third Union Budget on Monday. Over the last few weeks, there was a lot of talk on the major concerns facing the economy and how a fine balance could be struck between fiscal consolidation and much-needed public spending. |
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Budget expectations
Bikky Khosla | 23 Feb, 2016 |
| The much-awaited Budget session of Parliament has kicked off today. Every Budget is an opportunity to set out a clear path for the economy, but this time it seems more important than never before. India, with its high single-digit growth rates, has been touted as one of the few 'bright spots' in an otherwise gloomy global economy. |
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RCEP trade deal: Why does it matter
Bikky Khosla | 16 Feb, 2016 |
| Negotiations on a mega trade deal — the Regional Comprehensive Economic Partnership of Asia and the Pacific (RCEP) — began on Monday. Officials from 16 countries will hold this eleventh round of negotiations for five days in Brunei. |
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MSE procurement policy hits bump
Bikky Khosla | 09 Feb, 2016 |
| Most of the public sector units and government departments are not abiding by the MSE procurement norms. Under the Public Procurement Policy, it is mandatory for them to make at least 20 percent of their total purchases from micro and small enterprises |
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Fiscal dilemma
Bikky Khosla | 02 Feb, 2016 |
| What should have priority: fiscal consolidation or public spending? More and more as we are getting closer to the Budget day, this debate is gaining steam. There is a general agreement on the fact that the Budget must aim at spurring investment, but views differ on how to respond to this challenge. |
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UN world economic outlook: India stands out
Bikky Khosla |
| A UN report, "World Economic Situation and Prospects 2016", points to the fact again that India is the brightest spark in today's gloomy global economic environment. The report projects that we will be the fastest growing large economy in 2016, registering a growth of 7.3 percent. |
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IIP data: Recovery still on track
Bikky Khosla | 19 Jan, 2016 |
| Fall in factory output, as shown by official data released last week, appears statistical rather than real. According to Quick Estimates of Index of Industrial Production for November, industrial output registered a negative growth of 3.2 percent for the month, but it is now clearly evident that we should not read too much into it. |
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Time to guard against global woes
Bikky Khosla | 12 Jan, 2016 |
| There is a bumpy road ahead for the world economy in 2016 -- the persistent China panic contains this unnerving message. The second largest economy in the world is facing a slowdown, which in turn may drag down the emerging market economies |
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MSME finance: RBI comes up with new ideas
Bikky Khosla | 05 Jan, 2016 |
| Lack of institutional finance has always remained the Achilles heel of our micro, small and medium enterprise (MSME) sector -- a recent RBI report again points out this fact. The paper, "Report of the Committee on Medium-term Path on Financial Inclusion" released by the central bank last week views that |
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Index
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| Customs Exchange Rates |
| Currency |
Import |
Export |
US Dollar
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66.20
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64.50 |
UK Pound
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87.50
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84.65 |
Euro
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78.25
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75.65 |
| Japanese
Yen |
58.85 |
56.85 |
| As on 13 Aug, 2022 |
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| Daily Poll |
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| PM Modi's recent US visit to redefine India-US bilateral relations |
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