Business/Economy
States on board, elusive GST in sight - Surabhi, Indian Express
Paving the way for the largest indirect tax reform in the country, the Centre and states reached a consensus on the broad contours of the proposed Goods and Services Tax (GST) on Monday. Finance Minister Arun Jaitley is now expected to table the Constitutional Amendment Bill for rollout of the tax in Parliament in the ongoing Winter Session.
Is SpiceJet shutting shop soon? - Pioneer
As low-cost airline SpiceJet continues to cancel flights across its network owing to its drastically reducing fleet size, rumours of the airline’s impending shutdown have only gained currency on social media. SpiceJet, which started operations in 2006, has cumulative losses of Rs2,194 crore, and Rs300 crore in the quarter between July and September. In fact, the airline has a negative net worth, the amount by which its liabilities exceed its assets of over Rs1,400 crore.
Lowering of interest rates for industries hurts the consumers - Shivaji Sarkar, Pioneer
Lowering of interest rates for industries hurts the consumers because, as lending rates to the giants are reduced, the common man takes the brunt by losing on deposit rates. It’s a double whammy for the common man. It is time that the Reserve Bank of India raises the deposit rate, to save the investors. Industry, which has misled the Government since 2008, has no case to demand another ‘incentive’ — subsidy at the cost of the common man.
Why you shouldn’t fret over Islamic Banking - H Jayesh, Economic Times
Last week, SBI Mutual Fund deferred its plan to introduce a Shariah-compliant equity fund, which was scheduled to be launched on December 1, as it faced opposition to the proposed structure of the scheme. In an article in ET (‘SBI’s Islamist Blunder’, goo.gl/GYpZ02), Sadanand Dhume described SBI’s move and Islamic banking in general as a medium only to advance a “retrograde political agenda”.
Coal block e-auction rules: Current mine owners to get head start over new bidders - Shreya Jai, Business Standard
The captive coal mining firms in producing blocks might not lose their mines even after the deadline of March 31, 2015, set by the Supreme Court. The government's final rules for reallocation of cancelled mines through an e-auction process give the existing owners an advantage over new bidders.
CAG report on SEZs: Lessons from the SEZ fiasco - Aradhna Aggarwal, FE
The CAG report ‘Performance of Special Economic Zones (SEZs)’ tabled in Parliament on November 28, 2014, hit the newspapers’ headlines around the country. “Land acquired for SEZs sold off, put to other uses”; “R83,000 crore revenue lost on SEZs in 6 years”; “SEZs have failed to deliver”; “SEZ developers mortgaged government land to raise loans”; “SEZs plundered” … It is unfortunate that the report is being used to once again whip anti-SEZ rhetoric.
The ethanol solution - Financial Express
Given the new ethanol blending programme will give great relief to sugar mills across the country, it is not surprising that sugar company stocks have risen in the manner they have. Between Wednesday and Friday last week, the stock price of Simbhaoli Sugar, Rajshree Sugar and Balrampur Chini has gone up by 6%, 2.4% and 2.3%, respectively.
Important for India to seize the LPG moment - Financial Express
The sharp drop in the price of crude oil to $65 a barrel, from about $100 even three months ago, is a big relief not just from the point of view of what it does for the current account deficit (CAD)—given that oil comprises 30% of imports, a $1 fall means a CAD saving of $900 million—but also in terms of what it means for inflation control.
Yashwant Sinha: time for bold reforms - Business Line
Former Finance and External Affairs Minister Yashwant Sinha on Saturday hoped the 2015 Union Budget would be “transformational” and set off a series of second-generation reforms to lift the country’s GDP growth rate on to a higher trajectory.
Spreading the Net, courting trouble - Sanjay Vijayakumar & KT Jagannathan, Hindu
From $17 billion, the valuation of online ride-hailing service Uber jumped to $40 billion in just six months as it gained popularity with consumers across the world. Unfortunately, it now finds itself in the eye of a massive storm for all wrong reasons.
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