Lok Sabha passes two bills extending CGST, IGST to Jammu and Kashmir
The Lok Sabha on Wednesday passed two bills extending Central GST and Integrated GST to Jammu and Kashmir, with Finance Minister Arun Jaitley saying the step will ensure greater economic integration of the state with rest of the country. He asserted that special status of Jammu and Kashmir was “never meant to create economic impediment” as he maintained that the GST is in the larger interest of traders and consumers of Jammu and Kashmir. The Central Goods and Services Tax (Extension to Jammu and Kashmir) Bill and the Integrated Goods and Services Tax (Extension to Jammu and Kashmir) Bill passed by the House by a voice vote are aimed at giving effect to the formal amendments required in Central GST (CGST) and Integrated GST (IGST) Acts by removing the exemption that was carved out for J&K.
RBI cuts repo rate by 25 basis points but room for more uncertain
The monetary policy committee (MPC) of the Reserve Bank of India (RBI) on Wednesday cut its key policy rate by 25 basis points (bps), citing a sharp fall in consumer price inflation and the need to boost investment demand in the economy. MPC reduced the repo rate—at which the central bank infuses liquidity in the banking system—to 6%, the lowest since November 2010, from 6.25%. The panel maintained its forecast for gross value-added growth, a measure of economics output, for the current fiscal year at 7.3%.
Gujarat Rajya Sabha elections: SC to hear Congress petition against NOTA
The battle against including the NOTA (none of the above) option in the Gujarat Rajya Sabha (RS) polls gathered steam on Wednesday with both the Congress and the Bharatiya Janata Party (BJP) coming out against it. While the Congress party approached the Supreme Court on Wednesday seeking an urgent hearing on the matter, the BJP asked the Election Commission (EC) for the withdrawal of the NOTA option from the 8 August elections.
L&T wins Rs3,375-crore contract from Mauritius govt to build Metro Express
Engineering major L&T on Wednesday said it has won a Rs3,375 crore contract from Mauritius government undertaking Metro Express Ltd to design and build an integrated light rail-based urban transit system. It is a major breakthrough order for rail based transit system and the contract is to design and build an integrated light rail-based urban transit system in the African island nation, Larsen & Toubro (L&T) said in a BSE filing.
India becomes Honda’s largest two-wheeler manufacturing base
India has become the largest manufacturing base for Japanese auto major Honda’s two-wheeler business, with four units that have a total installed capacity to churn out 6.4 million motorcycles and scooters annually. Honda Motorcycle and Scooter India (HMSI), the local arm of the company, achieved the feat by expanding the capacity of its Narsapura plant on the outskirts of Bengaluru by an additional 0.6 million units, taking its total capacity up to 2.4 million units.
Jet Airways’ pilots to meet management tomorrow over salary cut of juniors
Jet Airways pilots’ union, National Aviator’s Guild, is likely to hold talks with the airline managementtomorrow on the issue of steep reduction in the salaries of junior trainee pilots. The Guild, which represents more than 1,000 Indian pilots of Jet Airways, will also raise the issue of disciplinary action against number of non-management pilots, a source close to the development told PTI here.
Online tatkal railway tickets: Now you can pay on delivery
People can now pay later for tickets booked under the tatkal quota on the Indian Railway Catering and Tourism Corp (IRCTC) website, it was announced on Wednesday.
Till now, this service was available only for general reservations. For tatkal bookings people had to pay first via the standard online payment gateways before the IRCTC portal confirmed their ticket.
Source: Economics Times
Delhi Court summons Ola, Uber over ‘excess fares’
A Delhi court Monday issued summons to app-based cab service providers, including Ola and Uber, for allegedly charging “excess fares” from customers. Metropolitan Magistrate Abhilash Malhotra asked the company to send “authorised representatives” on the next date of hearing, December 11. The court was hearing a complaint against ANI Technologies Pvt Ltd, which runs Ola and Uber India Systems Pvt Ltd.
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