Daily News Podcast: India must fully implement GST, says IMF : Bulletin: Business Today
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Daily News Podcast: India must fully implement GST, says IMF

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BusinessToday.In | April 19, 2018

India must fully implement GST to avoid tax revenue underperformance: IMF
India, which has recovered from disruptions caused by demonetisation and the rollout of the GST, must fully implement the new nationwide indirect tax to avoid tax revenue underperformance resulting in cuts to capital expenditures, the IMF has said. In India, fiscal consolidation was paused in fiscal year 2017/18 at the federal level as the economy recovered from disruptions related to demonetisation and the rollout of the GST, it said.

Rising trade tensions between US and China will affect India's growth : Reuters poll
India will claim the top spot among the world's fastest-growing major economies this year, but rising trade tensions between the United States and China may restrain that growth, a Reuters poll of economists showed. The recent tit-for-tat import tariffs imposed by the U.S. and China have raised concerns about a full-fledged global trade war which could throw an otherwise-strong world economy off-course. Twenty of 29 economists who answered an extra question said India's economy will be hurt by the ongoing trade dispute. However, not all economists shared that view. Nine respondents said India's economy would benefit from the dispute.

Avoid policies that increase economic fluctuations: IMF to countries
With public debt currently at historic highs in advanced and emerging market economies, the IMF has advised countries to avoid policies that increase economic fluctuations. Vitor Gaspar, Director, IMF Fiscal Affairs Department has also advised countries to build strong public finances in good times in order to tackle looming risks.The global debt reached a record high in 2016 at USD 164 trillion, or almost 225 per cent of GDP with most of the debt in advanced economies although in the last 10 years, emerging market economies have been responsible for most of the increase.

Patanjali expects online sales to grow in the coming months
Here's some news for Patanjali patrons, Baba Ramdev led Patanjali Ayurved is clocking online sales of up to Rs 15 crore every month and it is expected to grow further every month, said a top official. The Haridwar-based company has done well in the last financial year and expects to perform better in the current fiscal. "We are doing online business of Rs 10 to 15 crore, and expect it to increase further every month," Patanjali CEO Acharya Balakrishna told PTI. He further added, "We are doing good in the online sales despite the fact that we are not participating in any discounted sales".

Amazon reveals Prime service has 100 million members
Amazon has persuaded more than 100 million shoppers to subscribe to its Prime service that offers free two-day shipping and other perks that help bind people to the company and its ever-expanding empire. CEO Jeff Bezos quantified the size of Amazon's Prime membership for the first time yesterday in his annual letter to the Seattle company's shareholders. The scope of Prime's success has stunned even the most optimistic of analysts. Amazon still isn't the king of digital subscriptions, though. Netflix has 125 million worldwide subscribers who, on average, pay about $120 annually to watch its video-streaming service, based on numbers the company released with its quarterly earnings earlier this week.

Indian investments to create thousands of UK jobs
The British government today announced a new India-UK trade partnership to mark Prime Minister Narendra Modi's visit here, which comes with a huge boost for the country's economy. The UK's Department for International Trade (DIT) said a range of new Indian investments worth more than 1 billion pounds will create or safeguard 5,750 British jobs for the economy as part of the new partnership. According to DIT figures, total trade in goods and services between the UK and India was 18 billion pounds in 2017, a 15 per cent increase from 2016.

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