Single regulator for e-commerce in the offing
It has also suggested that major e-retailers and social media platforms be made to store the data of users in local servers,apart from a limited easing of foreign direct investment (FDI) rules for certain micro, small and medium enterprises (MSME). Read more
Defence ministry clears decks for Rs 217 billion chopper buy
The defence ministry on Monday announced it had approved ‘implementation guidelines for the strategic partnership model’.
The ‘strategic partner’ (SP) model of defence procurement, which was promulgated in outline in May 2017, provides a policy framework for Indian firms to manufacture specified defence platforms in India based on technology transferred by a selected foreign vendor.
The SP policy initially aims at building four categories of weaponry — fighters, helicopters, submarines, and armoured vehicles. Read more
SBI hikes long-term deposit rates
Diesel vehicles could face their last gasp
However, the company was left surprised.
Centre staring at GST revenue shortfall
The Centre’s collections from the central goods and service tax (CGST) stood at Rs 504 billion at the end of the first quarter (Q1) of 2018-19. It got an additional Rs 424 billion as settlement from the integrated GST (IGST)
over the same period.
Assuming that tax collections grow at 10 per cent (quarter-on-quarter, or QoQ), the Centre’s GST collection is likely to be Rs 517 billion less than the budgeted target of Rs 6,039 billion in an optimistic scenario. Read more