Finance Minister Sitharaman asks CBIC to settle classification issues

​The tax officials under GST has detected fake ITC evasion of ₹.1.14 lakh crore from the year 2020 till date. "Fake entities and GST evasion not only erode our national revenue but also distort fair competition and fuel an underground economy," Sanjay Kumar Agarwal, chairman Central Board of Indirect Taxes (CBIC) told the field formations. He highlighted the importance of strong data analytics and the use of technology and the need to stay ahead of the perpetrators of GST evasion.

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Jobless rate declines to record 3.1% in 2023

India's unemployment rate dropped to 3.1% in 2023, the lowest in recent years, from 3.6% the previous year. Female labor force participation crossed 40% for the first time. Urban unemployment fell to 5.2% from 5.9%, and rural unemployment dropped to 2.4% from 2.8%. Despite this, the gender gap in unemployment widened as female unemployment declined slower than male unemployment. Female labor force participation rose to 41.3%, but their participation in certain sectors, like legislators, senior officials, and managers, decreased.

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Core inflation to stay around 3% till Q1 FY25: Economists

Inflation in goods and services other than fuel and food is expected to remain low at around 3% due to weak rural demand. Despite a strong economy, depressed wage growth and muted private consumption have contributed to declining core inflation.

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Healthcare, education, fintech to be key beneficiaries of India-UAE pact: CII President

CII President R Dinesh believes the ambitious USD 100 billion non-oil trade target between India and the UAE by 2030 is achievable. The 2022 free trade agreement has already spurred significant bilateral trade and investments, with the UAE now India's top non-oil trading partner. The comprehensive pact covers various sectors, fostering growth, and facilitating global supply chains.

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India-UAE non-oil trade target of USD 100 billion by 2030 ambitious, but achievable: CII President

CII President R Dinesh believes the ambitious USD 100 billion non-oil trade target between India and the UAE by 2030 is achievable. The 2022 free trade agreement has already spurred significant bilateral trade and investments, with the UAE now India's top non-oil trading partner. The comprehensive pact covers various sectors, fostering growth, and facilitating global supply chains.

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Market capitalization of 7 of top-10 most valued companies rose Rs 65,302 crore last week

The combined market valuation of seven of the top 10 most valued firms in India increased by Rs 65,302.5 crore last week. TCS and ICICI Bank were the biggest gainers. Sensex climbed 663.35 points or 0.90%, and Nifty jumped 165.7 points or 0.74%. TCS, HDFC Bank, ICICI Bank, SBI, Bharti Airtel, Hindustan Unilever, and ITC experienced gains in their market capitalization. Reliance Industries, Infosys, and LIC saw a decline.

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Tripura receives additional tax devolution of Rs 1006 crore

The announcement has been met with appreciation from Tripura Chief Minister Manik Saha, who acknowledges the funding's potential to boost infrastructure and expand the scope of welfare schemes in the state.

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We have been able to protect India’s interests at WTO: Piyush Goyal

Since the process has not yet been completed, we believe that it is in the best interest that we continue this ecommerce moratorium and ensure that if at all it is found to be necessary, there will be discussions at Geneva to see if there are any areas particularly which need to be covered under the moratorium, otherwise as the decision stands, it will expire at the end of two years or the next ministerial, whichever is earlier, Commerce and industry minister Piyush Goyal.

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WTO meeting: India objects to agri timelines in draft text for permanent solution

A revised text on agriculture circulated in the afternoon offered two options either adopting a permanent solution at the MC13 or members intensify negotiations at the committee of agriculture to arrive at a permanent solution for food security purposes available to all developing country members.

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