Citing data from the United States International Trade Commission (USITC), the Trade Promotion Council of India (TPCI) on Sunday said India's exports to the US of products which were previously under that country's GSP preferential tariff system registered a 32 per cent year-on-year growth in June 2019.
Newly-appointed Minister of State for Micro, Small and Medium Enterprises (MSMEs) Pratap Chandra Sarangi, while addressing the MSME Meet 2019 in Bhubaneswar urged banks to be "reasonable towards genuine traders and entrepreneurs who ease government’s effort on employment and job creation."
Finance Minister Nirmala Sitharaman on Sunday met real estate players which discussed ways to create demand in the country's realty market.
Following a meeting of its Monetary Policy Committee on August 7, the Reserve Bank of India (RBI) once again cut its repo rate-the rate at which it lends to commercial banks-by an unexpected 35 basis points (0.35 per cent), rather than the customary 25 basis points (0.25 per cent).
The government has detected Goods and Services Tax (GST) evasion of over Rs 45,000 crore during the financial year 2018-19. Of this, tax sleuths have recovered an amount of Rs 25,000 crore during this period, as per the data available with the finance ministry.
Shortly after the Reserve Bank of India (RBI) slashed interest rates by an unexpected 35 basis points to boost the economy, several lenders have cut their benchmark lending rates.