Business/Economy
GST Council okays draft rules, agrees to refund mechanism for central and state tax holidays - Economic Times
The Goods and Services Tax (GST) Council approved draft rules for the proposed levy and agreed to a refund mechanism for central and state tax holidays that will continue under the new regime, marking further progress toward rolling out India’s biggest indirect tax reform by April 1next year.
GST Council meet: Not time for false optimism, there are bigger political issues to be resolved - Seetha, FirstPost
On the face of it, the two agreements arrived at by the GST Council are a step forward in the progress of this biggest-ever tax reform. One related to the exemption threshold and the other on the sharing of administrative powers between the centre and the states. Both had been sticking points initially.
Jio, Airtel call drop spat flares up - Pankaj Doval, Times of India
The war of words between market leader Bharti Airtel and Reliance Jio, the latest entrant in the crowded telecom market, over call failure due to inadequate interconnect points has intensified.
If the rupee drifts down, RBI should smile and do nothing - Swaminathan S Anklesaria Aiyar, Economic Times
Three years ago, all emerging markets including India suffered a huge outflow of dollars. The US Federal Reserve gave notice of ending quantitative easing, leading eventually to higher US interest rates that would attract money from everywhere. The Sensex collapsed, and the rupee crashed from Rs 55 to Rs 68 per dollar.
The road ahead for the GST council - Vijay Kelkar & V Bhaskar, Mint
The President has given his assent to the Constitution (One Hundred and First Amendment) Act, 2016, enabling the implementation of a nationwide goods and services tax (GST). The next steps for implementation of the GST need to be taken by the GST council, which will be constituted after the Act becomes effective.
Sebi may give FPIs bourse membership - Jayshree P Upadhyay, Mint
The Securities and Exchange Board of India (Sebi) is considering allowing foreign portfolio investors (FPIs) who trade in the Indian markets through brokers to become members of stock exchanges in what could potentially be a big blow to local brokerages.
Reliance Jio vs Bharti Airtel: Corporate duels in the 21st century - Malini Goyal, Economic Times
Great rivalries make great stories. But for multiple reasons, corporate duels no longer feel the same in the digital-led 21st century. Corporate rivalries make battles interesting. There is one playing out in the telecom sector right now. Bharti AirtelBSE -1.23 %'s Sunil Bharti Mittal is readying for a fierce and bruising battle with Mukesh Ambani who has just rolled out Reliance Jio 4G network.
After GST, focus is on labour reforms - Yogima Sharma, Economic Times
The government is gearing up for bold labour reforms after putting the goods and services tax (GST) back on track. An inter-ministerial group on labour headed by finance minister Arun Jaitley is slated to meet on September 15 to reconsider the labour ministry's proposal to introduce two legislations aimed at significantly enhancing ease of doing business in the country.
54% Sensex return during Rajanís era 3rd best since 1991; will it be better in Patel era? - Amit Mudgill, Economic Times
Raghuram Rajan, the rockstar governor of the Reserve Bank of India (RBI), has hung up his boots, with deputy governor Urjit Patel taking over charge from him.
Bringing all Indians online - Pioneer
Fifteen years have passed since the last time Mukesh Ambani of Reliance Industries Limited entered the Indian telecom market for the first time. A lot of water have passed underneath the bridge since then, most importantly the elder Ambani brother giving up his telecommunications dream to his younger brother as part of a family settlement.
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