Finance Minister Nirmala Sitharaman on December 7 said that a tax rate cut proposal is “one among the many things we are thinking to boost growth.”Sitharaman made the statement at the Hindustan Times Leadership Summit, where she addressed a gamut of issues.The Finance Minister added that they would listen to learned economists who “are telling us that we have to move towards more fiscal stimulus.”Close In what would be good news for the common man, she further spoke about simplifying the tax regime and making it harassment-free. related news Moneycontrol Pro Weekender: The curious incident of the MPC in the slowdown Unnao case: Want to see accused shot dead or hanged, says victim's father Bank of Japan to consider offering bleaker view on output as trade war bites: Sources “We have commenced tax enquiries through the 'faceless' method and are moving towards harassment-free tax assessment – a simplified and exemption-free tax … [Read more...] about Tax cuts under consideration, focus on boosting growth, says Nirmala Sitharaman
The Centre may tie up concessional loans from Power Finance Corporation (PFC), Rural Electrification Corporation (REC) and Indian Renewable Energy Development Agency (IREDA) for state governments as it looks to set the house in order in the clean energy sector, according to a report in Mint.The loans would be sanctioned to states at cost plus a nominal fee to clear dues worth Rs 67,237 crore owed to power generation companies (gencos) till August-end.Moneycontrol could not independently verify the report.Close To receive loans, states need to give an undertaking that future payments to renewable energy (RE) generators would be on time. The amounts sanctioned would have to be strictly used for payments to RE generators on a first in first out basis, the report said. related news RBI issues final norms for 'on-tap' licensing of Small Finance Banks Here is why the govt advisory on oxytocin is drawing flak from IMA States will also be required to either offer a … [Read more...] about Cheaper loans likely for discoms to clear green energy dues: Report
Wall Street ended solidly higher on Friday as a strong jobs report and optimism about US-China trade negotiations ahead of an upcoming deadline helped stoke investor risk appetite.All three major US stock indexes gained ground, hovering within 1 percent of record highs set last week.But as a tumultuous week of contradictory trade news and mixed economic data drew to a close, only the S&P 500 posted a weekly gain. The Dow and the Nasdaq ended the session down from last Friday's close.Close The US economy added 2,66,000 jobs in November, the largest increase in 10 months, according to the Labor Department, blowing past analyst estimates. The unemployment rate edged down to 3.5 percent. related news Wall Street opens higher after strong jobs data, calmer tone on trade Wall Street inches higher as December 15 tariff deadline looms "This type of report shows underlying economic strength, and it gives corporate management confidence in the strength of the economy," said … [Read more...] about Wall Street climbs on solid jobs data, trade hopes; Dow Jones rallies over 300 pts
Hareesh VDespite positive Chinese manufacturing numbers and improved trade deal optimism, Zinc prices in the international and domestic markets tumbled to multi-month lows.Prices gained considerably in the first half of the year but nosedived to a three year low by September on feeble demand expectation from China.Close China is the world’s largest zinc producer. Additionally, the country is the top consumer, accounting for about half of the global consumption. However, the 16 months old trade dispute with the US has roiled the Chinese manufacturing sector and demand for zinc. related news How to evaluate your risk appetite? December is usually volatile, pause is not negative trigger as articulated Jute could be among priority industries to bet on in next rally Zinc is largely used for galvanising steel, hence, about 50 percent of global demand is from the construction sector. Transportation, infra, industrial machinery and consumer products are the other … [Read more...] about Trade deal optimism, positive China manufacturing data may limit further downside in Zinc
Manas ChakravartyMarkets across the world have suddenly been spooked by fears of a growth slowdown. Here’s what the Reserve Bank of India said in its monetary policy statement a few days ago: "…global economic activity has shown increasing signs of weakness on rising trade tensions. Among advanced economies, economic activity appears to be slowing in the US in Q42018, after a buoyant Q3. The Euro area growth lost pace in Q3, impacted by weaker trade growth and new vehicle emission standards. The Japanese economy contracted in Q3 on subdued external and domestic demand."The RBI said growth was also slowing in some emerging markets, most importantly China. For India too, there have been warnings of lower growth after the September quarter gross domestic product growth came in lower than anticipated. Fitch Ratings has been the latest to jump aboard the bandwagon, reducing its estimate of India's GDP growth this fiscal from 7.8 percent earlier to 7.2 percent.Close … [Read more...] about Quick Take | Does the market really have a reason to worry about lower global growth?