The GST regime seems to stabilising after rate rationalisation
The rupee skidded 6 paise to finish at 69.23 per US dollar on Friday, largely owing to increasing demand for the greenback from importers. Forex traders said strengthening of the dollar against key currencies overseas also kept the rupee under pressure, though persistent foreign fund inflows restricted the fall.
Commenting on first bi-monthly monetary policy of 2019-20 announced by RBI earlier today, FICCI president Sandip Somany said that there is further scope for repo rate cut.
Even though the credit demand is growing at a healthy 14 percent, Reserve Bank of India's Governor Shaktikanta Das said that it is not broad-based.
Mumbai: While many analysts expect another rate cut in the June policy, Goldman Sachs Friday said the Reserve Bank is likely to wait to see the impact of the past two consecutive rate actions and assess the macroeconomic factors following general elections and a clearer picture on the monsoons to emerge.
MUMBAI: The Federation of Retail Traders Welfare Association has written to Prime Minister Narendra Modi and BJP national president Amit Shah to apply only two slabs for the Goods and Services Tax - 5% and 12%.