Snehal khanna Blog

The news sent benchmark 10-year bond yields down over 15 basis points BUDGET NEWS : India has cut its additional market borrowing requirement by more than half for the financial year ending in March to Rs 200 billion ($3.13 billion), Economics Affairs Secretary S C Garg said on Twitter. The news sent benchmark 10-year bond yields down over 15 basis points. Subhash Chandra Garg @SecretaryDEA Government has reassessed additional borrowing requirements taking note of revenue receipts and expenditure pattern. Requirement of additional borrowing being reduced from Rs 50000 crore as notified earlier to Rs 20000 crore. Last month, the finance ministry had said that the government is likely to borrow additional Rs 500 billion ($7.79 billion) in 2017/18 fiscal year that ends in March. CLICK HERE TO READ MORE : BUDGET 2018-19

Levy on Biodiesel has gone from 6% in excise duty to 18% in GST BUDGET 2018 : Struggling to survive despite the government 's clean energy dream, biodiesel industries have demanded the Goods and Service Tax (GST) rate on them be slashed from the current 18 to 5 per cent. The demand came days after solar industry made a similar pitch, stating while the unrealistic levy on the solar panels is killing the Indian industry and giving an edge to Chinese exporters. On Tuesday, the Biodiesel Association of India (BDAI) wrote to Union Finance Minister Arun Jaitley and Finance Ministers of West Bengal and Rajasthan seeking a reduction of high GST rate. The apex industry body pointed out that while there is a huge potential of producing more cleaner fuel in India, the extraordinary levy has bought the industry at the "brink of extinction". With the implementation of GST from July 1 2017, levy on Biodiesel has gone from 6 per cent in excise duty to 18 per cent...