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The Economic Times GST Council meeting scheduled for June 22 in New Delhi

The 53rd meeting of the GST Council is slated to convene on June 22, 2024, in New Delhi, following the inauguration of a new government. Previously, the 52nd Meeting of the GST Council took place on October 7, 2023, in New Delhi, with Union Finance & Corporate Affairs Minister Nirmala Sitharaman presiding as the chairperson.

The Economic Times Strategic reforms in customs duties, GST, commerce to push India's inclusive growth, says GTRI

The think tank suggested increasing the GST exemption limit for a firm's annual turnover from 40 lakh to 1.5 crore as this will be transformative for India's MSME sector, promoting job creation and growth. Firms with less than Rs 1.5 crore turnover make up over 80 per cent of registrations but contribute less than 7 per cent of the tax collected, it said adding a yearly turnover of 1.5 crore equals 12-13 lakh monthly turnover, translating to just Rs 1.2 lakh at a 10 per cent profit margin.

The Economic Times India Inc looking for credit to fund capex, corporate loan worth Rs 5 lakh cr in pipeline: SBI Chief

SBI Chairman Khara stated a growing demand for credit from corporates, with Rs 5 lakh crore loans in the pipeline, signaling a shift towards seeking credit for working capital and capacity expansion.

The Economic Times India Inc's high-flyers in for a travel treat; overseas tour, meet-ups with celebs among unique rewards

Offsites may never be the same again. Corporates across sectors such as banking, auto and insurance have loosened their purse strings for top performers, partners and distributors this season and are rewarding them with unique travel experiences, luxury watches and bags as well as catch-ups with Bollywood celebrities and other rewards. Travel, including trips with families, figures high on the rewards and incentives list.

The Economic Times Flipkart's path to profitability will decide IPO timing, says Walmart CFO

Walmart sees financial services as a growth opportunity, with PhonePe and Flipkart driving monetisation prospects. A report by Bernstein Research suggests India's ecommerce market could double by 2025.

The Economic Times Jaypee Infratech appoints Devang Pravin Patel as CFO

Suraksha Group, which has taken control of Jaypee Infratech ltd (JIL) after approval from the appellate tribunal NCLAT last month, will delist JIL from stock exchanges.

The Economic Times India Ahead: Need a plan to become a developed country

The global economy faces numerous geopolitical challenges, and India has a unique chance to make a significant impact, not just for the next 100 days but for years to come. This is our moment to realise the vision of 'Viksit Bharat'.

The Economic Times BPCL adds fuel to capex fire, hires I-bank for Rs 31,000 crore loan

Bharat Petroleum Corp Ltd has mandated SBI Capital Markets to arrange a Rs 31,000 crore loan for the planned capital expenditure at its Bina refinery complex in Madhya Pradesh.

The Economic Times Fed holds rates steady, sees just one cut in 2024 despite inflation progress

The markdown in the outlook for rate cuts, from three quarter-percentage-point reductions seen in the Fed's March projections, was made despite the central bank's acknowledgement in its new policy statement of "modest further progress" towards its 2% inflation target - an upgrade from its May 1 statement.

The Economic Times Finance Minister on Day 1: Pledges more steps to ensure 'ease of living'; reforms drive to continue

Finance minister Nirmala Sitharaman has expressed optimism for India's economic outlook, stating that reform momentum will continue to spur growth and ensure macro-economic stability. She has emphasized India's "commendable growth story" amid global turmoil and pledged more steps to ensure ease of living. The Indian economy has seen an average of over 8% annual growth since the Covid-induced output contraction in FY21.

The Economic Times Adani Group’s concrete plan: $3 billion buyouts in cement space

It is keeping aside a war chest of $3 billion for these acquisitions, these people said. The group is aggressively pursuing an inorganic strategy to boost capacity and emerge as the largest cement manufacturer within the next three to four years, overtaking the Aditya Birla Group’s UltraTech.

The Economic Times Rules for direct listing in GIFT to be out in a month

International Financial Services Centres Authority chairman K Rajaraman has said that regulations for direct listing of Indian companies in the GIFT IFSC will be out in a month.

The Economic Times Hindujas seek more time from NCLT to pay Reliance Capital lenders

Hinduja Group, which acquired Reliance Capital, has submitted an application to the National Company Law Tribunal (NCLT) for more time to make final payments to lenders. The group cited delays in obtaining approval from the Department for Promotion of Industry and Internal Trade for foreign investment as the reason for the request. IIHL, a firm of Hinduja Group, won the bid for Reliance Capital in October 2023 and has received almost all necessary approvals.

The Economic Times BFSI leads as India Inc profit-to-GDP ratio rebounds to a 15-year high in FY24

The 0.8% year-on-year increase in the Nifty-500 profit-to-GDP ratio was fuelled by a 0.3% rise from the BFSI sector, another 0.3% from Oil & Gas, and a 0.2% increase from the automobile sector.

The Economic Times Banks, NBFCs well placed to seize opportunity from India's strong economic prospects: ICRA

Loan growth is expected to moderate over the next year as banks seek to align their loan growth in line with deposits, as deposits are not growing as fast as loans. Loan growth will reduce to 12% -14%, from 16% last year.