Business

Arun Jaitley said the Goods and Services Tax (GST) is one of the most important taxation reforms and the government has also opened many sectors, including defence manufacturing.

Addressing industry leaders and bankers here this morning at an event, Rajan said that limping global growth coupled with uncertainty about the US growth probably compelled the Federal Reserve to keep rates on hold.

The Cabinet on Wednesday cleared spectrum trading guidelines under which telecom operators will be able to sell radiowaves to other service providers.

Admitting that the country's economy could not be insulated against external shocks, the report, however, said their impact could be limited by boosting domestic production, increasing use of alternative fuels and reducing oil imports.

Wall Street opened more than 2-per cent higher, recouping some of its losses from the previous day's selloff, its worst in four years, which had put the S&P 500 and Nasdaq composite indexes in correction territory.

Enthused by increase in indirect tax collections, Finance Minster Arun Jaitley on Monday said that the economy is in a revival phase and hinted that it will clock a growth rate in excess of 8 per cent in 2015-16.

The Sensex fell over 1,000 points to 26,359.53; and the Nifty also dipped below the 8,000-level by tumbling 309.05 points.

The US dollar index was up by 0.04 per cent against a basket of six currencies in the afternoon trade.

About 1626 shares have advanced, 1274 shares declined, and 153 shares were unchanged.

Sebi has said it has a strong surveillance system that generates over 100 alerts a day and all cases of manipulation are being dealt with sternly.

Sahara is a household name in India as the former main sponsor of the national cricket team.

Cracking down on illegal investment schemes, capital markets regulator Sebi on Monday ordered Weird Infrastructure Corp to refund over Rs 16 crore to investors.

Infrastructure financing firm IDFC Ltd on Friday said the Reserve Bank of India (RBI) has granted banking licence to IDFC Bank for undertaking banking business in the country.

Union Finance Minister Arun Jaitley said that FDI, FII and other investment routes would be included under one policy.

Finance Minister Arun Jaitley on Wednesday said the manufacturing sector is showing signs of revival aided by government's Make in India initiative.

The rupee opened higher by 6 paise at 63.54 per dollar versus 63.60 Wednesday.