Business

GST collections at ₹1.06 lakh cr. in March, clock the highest-ever

GST collections at ₹1.06 lakh cr. in March, clock the highest-ever

Business
Updates from :  the Hindu : Centre says revenue growth picking up despite rate rationalisation measures Goods and Services Tax collections in March 2019 hit ₹1.06 lakh crore, the highest in the history of the tax in India, and the fourth time monthly collections have crossed ₹1 lakh crore this year, according to an official data release on Monday. Average collections in the year stand at ₹98,114 crore, up 9.2% from the average in 2017-18. GST collections had previously crossed the ₹1 lakh crore mark in April, October, and January this fiscal. “Total gross GST revenue collected in March 2019 is ₹1,06,577 crore, of which CGST is ₹20,353 crore, SGST is ₹27,520 crore, IGST is ₹50,418 crore (including ₹23,521 crore collected on imports) and cess is ₹8,286 crore,” the government sa
Iran seeks improved trade ties with India amid sanctions

Iran seeks improved trade ties with India amid sanctions

Business
Updates from :  the Hindu : Suggests expanding banking channels to boost trade Amid U.S. sanctions, Iran is exploring ways to increase its bilateral trade with India, including expanding banking channels. “Only one bank (UCO Bank) has business relationship with Iran. We need to expand that,” said Hamid Reza Fouladgar, head of the seven-member Parliamentary delegation from Iran that is visiting India to improve bilateral ties. “There is need to sign free trade agreements with India to reduce customs and tariffs on both sides to improve bilateral trade,” he added. “The volume of trade between Iran and India stands between $10 billion and $13 billion, which has tremendous potential for improvement. “The Iranian Parliament recently ratified an agreement to avoid double
Our role will be to find new business models that can make water much more accessible: Grundfos CEO

Our role will be to find new business models that can make water much more accessible: Grundfos CEO

Business
Updates from :  the Hindu : Replacing millions of submersible diesel pumps with sustainable solutions, an ambition for Grundfos Grundfos A/S, the world’s biggest pump manufacturer in terms of value and volume, is aiming to be a major catalyst in sustainability by solving water challenges and climate change issues. In an interview with The Hindu, Mads Nipper, CEO & global president, Grundfos, said the Danish company, by supplying energy efficient pumps, can help reduce 50% of energy consumed by water pumps globally.Edited excerpts: What do you see as potential threats to environment and what can Grundfos do about it? I personally believe that the world’s two biggest potential risks right now are climate change and water challenges. And even we are not a huge company, we ar
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