Business Archives - Page 22 of 23

Direct Tax Mop Up at Rs 5.54 Lakh Cr, Indirect at Rs 5.69 Lakh Cr: Government

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New Delhi: Government has collected Rs 5,54,179 crore from direct tax as on February 29 and Rs 5,69,056 crore from indirect tax as on January 31 this fiscal, Parliament was informed today. According to revised estimate, Rs 7.52 lakh crore was estimated to come from direct taxes (corporate, and income tax) and another Rs 7.03 lakh crore from indirect taxes (customs, excise and service tax), Minister of State for Finance Jayant Sinha said in a written reply to Lok Sabha. Replying to a separate query, Sinha said in 2015-16 (up to…

Oil Prices May Have Bottomed, Says IEA

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London: Oil prices might have bottomed as production declines in the United States and other non-OPEC producers accelerate and an increase in Iranian supply has been less than dramatic, the International Energy Agency said on Friday. After a spectacular 2015, growth in global demand was slowing – with India and the Middle East being rare pockets of improvement, the IEA said in a monthly report. Growth could slow even further if oil prices kept rising, said the Paris-based IEA, which coordinates energy policies of industrialised nations. Oil prices hit their…

Crisil Sees GDP Growing At 7.9% in 2016-17

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Mumbai: The country’s GDP can grow by 7.9 per cent next fiscal if the monsoon is normal and government implements the reform measures announced so far, domestic rating agency Crisil said on Friday. The growth forecast, highest by any house and even above the government’s own estimate of 7-7.75 per cent, has been arrived assuming a faster growth in agriculture, Crisil Chief Economist Dharmakirti Joshi said in a concall today. The country has faced weather shocks for three consecutive years, including two years of deficient rains in 2014 and 2015,…

Colgate Extends Restructuring Programme, to Cut More Jobs

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Colgate-Palmolive Co said on Thursday it would cut more jobs under an extended restructuring programme as the world’s largest toothpaste maker grapples with tough macro-economic conditions, including a strong dollar. The programme, now expected to end in December 2017, will result in the reduction of 3,300 to 3,800 positions globally. Colgate, had earlier said it expected to complete the programme this year and cut about 2,700 to 3,200 positions. The company, which gets more than three-fourths of its revenue from outside the United States, has been raising prices to counter…

Factory Output Contracts For The Third Month In A Row

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Factory output in January contracted for the third straight month, in an indication that the manufacturing sector continues to struggle with sluggish demand and overcapacity. According to data released on Friday, factory output — measured by Index of Industrial Production (IIP) – contracted 1.5 per cent in January. The higher-than-expected decline was on account of the sharp de-growth in capital goods, whose output shrank 20.4 per cent. Consumer goods output growth was flat. 10 out of the 22 industry groups in the manufacturing sector recorded negative growth in January 2016…

Real Estate Bill: 5 Big Points of Protection For Home-Owners

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The Real Estate Bill aims at protecting home buyers’ interest The Real Estate Bill, which aims at protecting home buyers’ interest, moved closer to becoming law after it was cleared in the Rajya Sabha on Thursday. The bill, designed to bring transparency and accountability to the realty sector, is expected to revive investor and buyer confidence. Here are five ways how the bill will protect home buyers: 1) All residential and commercial projects that include eight flats or cover an area of 500 square meters or more, will now have…