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GST- a fill up to States- Rs.24,500 crores

No state could escape from the "cloudburst" of GST, Kerala seems to the most affected.The estimated revenue loss in the country is Rs.24,500 crores from July to October 2017.There has been a study decline in the revenue figures from July-October 2017, Kerala state has run into troubled waters due to a revenue loss of roughly Rs.1000 crores, which forced even a hold on clearance of government bills by the treasury.

Electronic Point of Sale or EPOS

Kerala government to install electronic point of sale or EPoS in 60 selected ration shops in Karunagapally Taluk, Kollam district in January 2018. Kerala, ahead of other states, to implement this throughout state soon, in order to restrict ration dealers misusing the allotted grains. The process is on to computerize all the ration dealers by 31st March 2018.

Biggest ever fund raising -Rs.24,000 crore

HDFC - plans the biggest ever capital fundraising of whooping Rs.24,000 crore through equity shares in the domestic market.Being the second largest bank in the private sector, the board has cleared all the decks for the proposal. In the meeting held on 20th December, the board of directors approved fundraising of Rs.24,000 crore, according to the release by the bank.

Fahad Fazil,cine actor seeks anticipatory bail in car registration case

Malayalam Cine actor Fahad Fazil sought anticipatory bail in the cheating case towards Kerala government.Fahad purchased a Benz-E-class luxury car costing Rs.70 lakhs, registered in his name with a fake address as No.16, 2nd Cross Road, Pudhupet, Lawspet, Puducherry. The car has been registered in his name as PY-05-9899, by paying Rs.1.5lakhs as tax, whereas had he registered his car in Kerala, the Kerela government would have got Rs.14 lakhs as a tax. 

Electricity Minister M.M.Mani seeks Consensus on Athirapilly power project

 Power and its generations have been given utmost importance by the government of Kerala. However, on the Athirappilly power project, there has been some difference of opinion among the Left Democratic Front in the implementation of this project.On one side, the agitation by the environmentalists and nature-loving enthuse and on the other, Electricity Minister's keen interest to go ahead with construction of the dam is at square one.Mr.M.M.Mani the Minister has sought consensus among the stakeholders to find a solution to the ever-increasing power demand.

GSTR-3B filings are increasing, says GSTN

About 43.67 lakh taxpayers have filed their October GSTR-3B returns, which is the highest number so far, according to the Goods and Services Tax Network, which said the number of returns being filed was increasing every month.The GSTR-3B filings for August and September stood at 28.46 lakh and 39.33 lakh, respectively.“The number of taxpayers filing their GSTR 3B returns is showing marked improvement month after month with about 43.67 lakh of them filing their GSTR-3B returns for October till November 20, 2017, the highest so far,” the GSTN said in a release.

Amazing things have happened says Bill gate, Microsoft fame founder" Giving pledge"

Bill Gates "Giving Pledge", more than 170 extremely rich have decided t part with their wealth at least fifty percent. 'Giving Pledge' have been the torch bearer to stream live may to donate part of the money to philanthropy, getting the roller of private government, aiming to eradicate poverty, its roots from the world at large. Nandan Nilekani, Infosys fame, and his wife Rohini have become the recent signatory to pledge from India.

Around 200 governmet websites make Aadhar details public

The Unique Identification Authority of India stated that 200 websites run by Central and State government displayed details such as the names and addresses of some Aadhaar beneficiaries.In response to a Right to Information inquiry, UIDAI noticed that there has been a breach, those data have been removed from those websites.However, they did not specify when the breach took place or did UIDAI make those details public.

No need to link bank account with PAN or Adhar for NRIs

Unique Identification Authority of India(UIDAI) has notified that there is no need to link bank accounts of Non-resident-Indians NRIs, Person of Indian Origin PIOs and Overseas Citizens of India OCIs with Permanent Account Number PAN or Adhar, henceforth.

UIDAI has advised various agencies involved in implementing this work to find out a mechanism to verify the status of those individuals.

Under the prevention of Money Laundering Rules 2017 and the income tax, it has specified those persons who are eligible to enroll for Adhar.

Infosys' Rs 13,000-crore buyback offer will open on November 30

Rs.13,000 crores buyback offer of Indias second largest IT company Infosys will open on 30th November and end on 4th December 2017.

The highlights of the buyback dates in a regulatory filing, Infosys said in their letter dated 16th November received observation from the Securities and Exchange Board of India on the draft letter of the buyback.

The share buyback, which will be first in the company's 36-year history, will see Infosys buyback over 11.30 crore shares at Rs.1,150  a piece.

Islamic Banking proposal droped says Reserve Bank of India

Reserve Bank of India has decided not to pursue with the proposal for an Islamic Banking System in India.This is a bold step taken by the Reserve bank of India.Central Bank of India had filed an RTI inquiry on the issue, on which RBI took this decision to drop the proposal of Islamic Banking."Wider and equal opportunities are available to every Indian citizen to the banking and financial system.

Reliance Communications fails to pay interest before deadline

 

Reliance Communications' RCom lead by Anil Ambani missed the deadline of an interest payment, for the first time.Reliance Communications’ (RCom) bonds slumped to a record low after the company missed the deadline, unable to pay the interest, according to Bloomberg, The price of the $300 million of 6.5% securities, RCom owed the interest payment, nosedived to 1.7 cents, a record low of 39.4 cents.

Demonetization -a year of aims and reality

125 crores of Indians have had the brunt of Demonetization, which is one of the bold decision with a high-risk ever taken by the Indian government, in the recent past. With this demonetization on 8th November 2016, Prime Minister Narendra Modi underlined his intentions to change the course of Indian economy aiming to bring transparency, justice to the common man.On one hand, the Indian government had intentions to implement Demonetization with nine highlights.1.Deflation due to less currency circulation.

BSE Sensex climbed 238.16 points

 

 

India jumped by 30 points to 100 on the World Bank ranking when the stock markets showed upward trends, Nifty zoomed past 10,400 for the first time and Sensex hit a record of 33,451  as per the release.Eight core sectors showed a six-month high of 5.2 percent in September and definite leads from the global market which brought smiles on the investors.

Interest rates are expected to raise in United Kingdom- a positive signal in this decade

A ray of hope to the struggling economy of Great Britain is on the cards.Bank of England is to up the interest rates to contain inflation.This could result in hurting the British Economy further.The central Bank too is expected to up its main interest rate by 0.25 percent.

If it delivers the cut, as bank Governor Mark Carney has indicated, it would be its first hike since July 2007, when world credit markets started to freeze up in what would prove to be an early phase of the global financial crisis.

INDIA-Fastest growing in next decade

India is likely to be the fastest growing economy in the world during the next few years, Reforms like GST, Demographics, suitable international investments, digitisation has set the country to be achieving a working six million dollars by 2027. Ther has been an acceleration of GDP growth from 5.8% in 1990's to 6.9% in 2000's.

U.S based property owners and the world are expected to meet in November in India to find out the Indian government offers and feasibility, risks in different sectors and India's placements in the world's economy.

GST Law ; SUO MOTU Action For Anti-Profiteering

Can punish firms not passing GST gains

The National Anti-Profiteering Authority, to be set up under the Goods and Services Tax (GST) regime, will have wide-ranging powers, including the power to issue notices to anybody that it feels warrants a “fair enquiry,” as per the rules finalised by the GST Council on Sunday.

The powers of the Authority include the ability to order a reduction in prices, impose a penalty, and even cancel the registration of a company deemed to have not passed on a tax rate reduction to consumers.

Cisco announces 1,100 more job cuts

Cisco Systems Inc. said Wednesday that it is laying off 1,100 more workers, deepening job losses at the internet gear maker battling declining revenue.

The new round of layoffs comes on top of the 5,500 jobs Cisco announced it was cutting in August. That amounted to about 7 percent of its workforce at the time.

Cisco sells routers, switches, software and services business and has seen its business hurt as more of its corporate customers rely on remote data centers for their computing needs instead of online networks maintained on their own premises.

UAE EXCHANGE INTRODUCES NEW SERVICE FOR FOREIGN TRAVELLERS IN INDIA

UAE Exchange India has introduced foreign currency buyback facility for foreign travellers. The facility will be a boon to foreign travellers who encounter loss while exchanging leftover currencies due to rate fluctuation.

Foreign Currency Buyback facilitates currency return at the same rate of purchase, thereby assisting the foreign travellers in saving unused currency. By adding more ensigns to foreign exchange services, UAE Exchange is the first financial service provider in India to offer advanced Buyback feature for currency exchange.

500 Million Dollar Loan by Asian Development Bank to Indian Power Projects

ADB or Asian Development Bank to lend 500 Million Dollars to improve large scale power transmission from Nothern India to Southern Indian region. It also includes integrating renewable energy to the power grid in India. The integration of inter-regional connectibvity enables bulkpower transmission to southern region, where the power consumption drastically increases during summer. This project definetly bridges the void in generation of power and consumption in the southern states like Tamil Nadu, Kerala. 

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