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The Economic Times Still some distance to cover on inflation, can’t look the other way: RBI Governor

RBI Governor Shaktikanta Das emphasized the need to address inflation, which remains above the target level of 4%. Speaking at a Bretton Woods Committee event, he highlighted concerns about global financial stability and banks' exposure to commercial real estate. He urged policymakers to adopt forward-looking regulatory measures.

The Economic Times Mapping economic data: From macro to micro, official statistics coverage set for a deeper dive soon

The Ministry of Statistics and Programme Implementation (MoSPI) plans to come up with district-level estimates by onboarding states and also using technologies such as web-based surveys to compile ground-up data. "We will have more estimates at the district level. By January next year, every survey should throw up national, state and district level estimates," a senior government official told ET. Currently, state-level data such as GSDP (gross state domestic product) are available but granular information at the district level is sparse. Some states have initiated efforts in this direction but there is an absence of comprehensive data sources at the district level.

The Economic Times Complied with all SEBI disclosure guidelines; allegations are false and malicious: Madhabi Puri Buch

Securities and Exchange Board of India Chief Madhabi Puri Buch on Friday said that she has adhered to all disclosure and recusal guidelines set by the regulator. In a personal statement, she denounced the allegations against her as completely false, malicious, and derogatory.

The Economic Times LGBTQIA+ inclusion picks up speed in India Inc

Flipkart has opened a delivery hub in Delhi-NCR run entirely by LGBTQIA+ employees, marking a first in India. Companies like Wells Fargo, Axis Bank, and Godrej Consumer Products are also taking steps to include LGBTQIA+ talent through specialized hiring programs and inclusive policies, aiming to create equitable workplaces.

The Economic Times High premium costs for parametric insurance flagged at NDMA meet amid GST concerns

The National Disaster Management Authority (NDMA) discussed the high cost of parametric insurance premiums and the imposition of 18 percent GST on insurance premiums. The meeting focused on expanding parametric insurance, particularly for extreme heat, and finding ways to finance premiums for disadvantaged groups. The NDMA also plans a workshop on disaster risk insurance in September 2024.

The Economic Times Finance minister Nirmala Sitharaman defends different GST rates for different products

Union finance minister Nirmala Sitharaman defended varied GST rates, explaining they were set by consensus in the GST council. Addressing hotelier complaints and Tamil Nadu's government criticisms, she emphasized efforts to simplify GST and ensure fair revenue sharing. She also discussed funding issues for Chennai Metro Rail phase 2 and other state projects.

The Economic Times Bun without cream, no GST! Tamil Nadu restaurateur's witty GST take sparks laughter and debate

In Coimbatore, a hotelier humorously pointed out to finance minister Nirmala Sitharaman the complexities of different GST rates on food items. He explained that while a plain bun is tax-free, adding cream incurs a 12% GST. His remarks led to laughter and initiated a debate on making GST rates uniform for all food products.

The Economic Times Sharat Industries appoints Balasubramaniam R as CFO

Balasubramaniam R brings nearly 30 years of expertise across various sectors, with a focus on finance, accounting, auditing, statutory compliances, and management information systems (MIS).

The Economic Times Alphacorp eyes BSE listing, Rs 1,000 crore revenue by FY27, says CFO Santosh Agarwal

In the last 2-3 years, construction costs have surged by 40-45 per cent and land prices have tripled amid stringent compliance regulations, which challenge our growth focus, said Alphacorp CFO Santosh Agarwal.

The Economic Times Former GE CFO Carolina Dybeck Happe transitions to Microsoft as EVP and COO

Microsoft has appointed former GE CFO Carolina Dybeck Happe as Chief Operating Officer and EVP, a newly created role. She will lead key divisions and drive AI transformation across the company, aligning business operations with Microsoft’s long-term growth.

The Economic Times China imposes six month suspension and $62 million fine on PwC following Evergrande controversy

China's finance ministry has imposed a six-month business suspension on PwC's auditing unit in mainland China due to its role in auditing Evergrande, which was accused of a $78 billion fraud. This follows similar penalties faced by Deloitte last year. PwC has since seen a significant client exodus.

The Economic Times Banks with large commercial real estate exposure may be shortsellers' targets, says RBI's Shaktikanta Das

Reserve Bank of India Governor Shaktikanta Das, speaking at the Bretton Woods Committee’s Future of Finance Forum in Singapore, expressed concerns about banks with significant commercial real estate exposure, noting that they could become targets for short sellers.

The Economic Times Shaktikanta Das wants policymakers to not jump on inflation data

Reserve Bank of India Governor Shaktikanta Das said policymakers need to remain firm despite a slight dip in inflation. While inflation is within the target range, the RBI aims for a 4% rate. Das highlighted the importance of caution due to volatile food prices and potential future inflation risks.

The Economic Times Will the era of low interest rates begin soon?

Two years ago, in September 2022, the RBI increased the repo rate by 50 bps to 5.50%, and then in a series of 25 bps hikes in the subsequent policies to the current 6.50%. It has been 20 months since the last rate hike and there has been a status quo on rates, which means that you have to bear the bigger interest rate burden on your loans.

The Economic Times Businesses living in fear, says TV Mohandas Pai after ‘extortion’ by CGST officials in Bengaluru

Venture capitalist TV Mohandas Pai has called on Prime Minister Narendra Modi and Finance Minister Nirmala Sitharaman to protect honest businessmen from the misuse of GST laws by corrupt officials. His comments follow the arrest of four CGST officials in Bengaluru for extorting Rs 1.5 crore from a businessman through a fake raid.