Moody's Upgrade Offers Political Victory For PM Modi Ahead of Key Elections

Moody's Investors Service raising India's sovereign rating for the first time in 14 years is not only a vote of confidence for India's longer-term financial health at a time when the government's economic policies are facing criticism and growth has slipped to levels last seen in 2014, it has also offered a political victory to Prime Minister Narendra Modi and his at-...

Rashtriya Janata Dal chief Lalu Yadav today took a swipe at Prime Minister Narender Modi over mob lynching in the name of cow protection. The RJD chief drew an analogy between a lion and a cow and how people who used to be afraid of the carnivorous beast are now more scared of the farm animal

With the Goods and Services Tax in place, 20 judges from 12 high courts brainstormed with experts and top government officials on identifying grey areas in the new regime that may throw up litigations in coming days.

Infosys has added 100 engineers for the project in the last one month to resolve issues with the GST Network.

In a retort to Rahul Gandhi's jibe terming the GST as 'Gabbar Singh Tax', Union minister Giriraj Singh today said the body language of the Congress leader resembled that of Gabbar Singh, the tobacco-chewing dacoit made famous by actor Amjad Khan in film 'Sholay'.

Sunil Bharti Mittal, founder and chairman, Bharti Enterprises, said that the upgrade "underlines the efficacy of the bold structural reforms".

Hitting out at the Centre over demonetisation, Congress lawmaker Shashi Tharoor has said that telling the people that they cannot have access to the money in their accounts was "nanny-ism carried to an extreme." The former Union minister, who was speaking at an event here last evening, also criticised the BJP-led government over the way GST was rolled out, although, h...

Arvind Subramanian, Chief Economic Adviser of ministry of finance has lauded Moody's India rating upgrade. "It was long overdue as our analysis shows. Moody's has acknowledged (PM Modi's) reforms: GST, bank recap plan, Bankruptcy code & macro-stability, and government's focus on domestic objectives.," he said.

The Union Cabinet has approved setting up of a National Anti-profiteering Authority under the GST, as it seeks to ensure that consumers get the benefit of reduced prices under the new indirect tax regime.

The government has exempted businesses from deducting GST on advances received for supplying goods in future

This reflects government's full commitment to take all possible steps to ensure benefits of implementation of GST to the common man, said Union Minister Ravi Shankar Prasad.

Recapitalisation will help redress the twin balance sheet problem and revive private investment, said the finance minister.

The move will help in fast-tracking clearance of dues to ease liquidity stress faced by exporters.

When new GST rates came into effect yesterday, consumers were hoping to see their restaurants bill be considerably lower but were shocked when they found the food bills didn't drop as drastically as they expected them to.