SC Garg assumes charge as economic affairs secretary
The Dollar Business Bureau Subhash Chandra Garg, a senior bureaucrat on Wednesday took charge as the new Secretary of Department of Economic Affairs (DEA), Ministry of Finance. Garg succeeds Shaktikanta Das, who had retired on May 31 after an extended term. Tapan Ray, Corporate Affairs Secretary, was handling the additional charge of Economic Affairs Secretary after the exit of Das. “Subhash Chandra Garg assumed charge as full-time Secretary, Department of Economic Affairs, said an official statement on Wednesday. In his immediate preceding posting, Garg has served as the Executive Director, World Bank for India, Bhutan, Bangladesh and Sri Lanka. He is a 1983 batch IAS officer, from Rajasthan cadre and has worked in various capacities with the central government. “Garg has widespread administrative experience ...
Indias economy to grow at 7.2% in FY18: World Bank
The Dollar Business Bureau India’s economy is likely to grow at 7.2% in the current financial year, showing signs of revival from an expected slowdown to 6.8% in the last fiscal, said World Bank in a report on Monday. “The revision of forecast reflects a combination of the impact of demonetisation and an investment recovery that has proven more protracted than expected,” it said in its May 2017 India Development Update report. The multilateral investment agency estimated India’s gross domestic product (GDP) growth at 7.7% in 2019-20 and 7.5% during 2018-19. “Growth is likely to slowdown in the financial year 2016-17 as the momentum of October-December quarter shifts to the last quarter of January-March,” the report said. The World Bank report comes prior to the release ...
Jaitley to visit Paris on June 7, sign OECD convention on tax evasion
The Dollar Business Bureau Finance Minister Arun Jaitley will be travelling to Paris to sign the multilateral convention of Organisation for Economic Cooperation and Development (OECD), next week. The convention is aimed at checking cross-border evasion of taxes by multinational companies (MNCs). During the 3-day visit beginning June 7, the Finance Minister will also join the Ministerial Council Meeting, which will be attended by ministers from OECD countries and other partner countries to deliberate upon issues of global importance. Earlier this month, the Union Cabinet had given the approval for signing the OECD’s multilateral convention. The convention is a result of the base erosion and profit shifting (BEPS) project between OECD and G-20, to tackle what is used by MNCs via tax planning strategies by abusing ...
Jaitley to visit Paris on June 7, sign OECD convention on tax evasion
The Dollar Business Bureau Finance Minister Arun Jaitley will be travelling to Paris to sign the multilateral convention of Organisation for Economic Cooperation and Development (OECD), next week. The convention is aimed at checking cross-border evasion of taxes by multinational companies (MNCs). During the 3-day visit beginning June 7, the Finance Minister will also join the Ministerial Council Meeting, which will be attended by ministers from OECD countries and other partner countries to deliberate upon issues of global importance. Earlier this month, the Union Cabinet had given the approval for signing the OECD’s multilateral convention. The convention is a result of the base erosion and profit shifting (BEPS) project between OECD and G-20, to tackle what is used by MNCs via tax planning strategies by abusing ...
