The rupee on Monday opened 6 paise higher at 70.76 against the US dollarNSE -0.97 % on account of some selling in the American currency by banks and exporters.
The government has held up the release of benefits worth thousands of crores to garment and made-up exporters under two major schemes — the Merchandise Export from India Scheme (MEIS) and the Rebate of State and Central Taxes & Levies (RoSCTL) — at a critical juncture when exports are slipping.
Ludhiana: For fourth month in a row the exports of readymade garments from India has fallen as compared to last year.
Industry has pitched for staggered implementation of new tax returns under the goods and services tax (GST) system, which are scheduled to be introduced from the beginning of next financial year.
NEW DELHI: Several measures aimed at plugging revenue leakages under the goods and services tax (GST) regime are expected to figure at the upcoming GST Council meeting on Wednesday as the Centre and the states look to perk up collections.
The RBI central board on Friday discussed policy framework for cooperative banks, NBFCs, current economic situation and domestic and global challenges.