Economic

Sluggish Economy Forces L&T to Dim FY18 order Flow Guidance

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Economy Forces

Gold Silver Reports – In anticipation of strong results for the September quarter, Larsen and Toubro Ltd’s (L&T’s) stock closed 4% higher on Friday. The Street was not wrong, and the diversified conglomerate’s operating performance easily beat estimates.

Fear of Revenue Loss Abates as GST Collections Gain Momentum

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GST collections

Gold Silver Reports – Fear of revenue loss abates as GST collections gain momentum – The initial revenue shock following the rollout of the goods and services tax (GST) seems to have abated, with states steadily improving collections aided by relaxations in deadline, waiver of late payment fee and steps to encourage compliance, showed data from the GST Council.

RBI Cuts Printing order for New Currency Notes as Vaults Crammed with Old Ones

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New Currency

Gold Silver Reports – The Reserve Bank of India (RBI) has reduced its order for printing new currency notes in the current fiscal year to the lowest in five years for lack of space in the currency chests of the central bank and commercial banks, two people familiar with the matter said.

One Year After Demonetisation – Cash is Still King

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Demonetisation

Gold Silver Reports – Soon after demonetisation was announced on 8 November last year, it was projected as part of a broader push towards a cashless economy. Several ministers and government officials claimed that this would nudge Indians to rely on non-cash or digital payments.

GST, It’s the Real Demonetiser

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Demonetiser

Gold Silver Reports – Exactly a year ago, post-independence India’s most ambitious and disruptive economic measure, demonetisation, was switched on. It’s also four months into the launch of the country’s most ambitious tax reform: the goods and services tax (GST).

Fed’s Williams Lays Out Case for Considering Price Level Target

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Federal Reserve Bank

Gold Silver Reports – Fed’s Williams Lays Out Case for Considering Price Level Target – In a world where the underlying growth potential of the economy is hard to pin down, targeting a price level — rather than a precise, 2 percent inflation goal — could be effective, Federal Reserve Bank of San Francisco President John Williams argues in new research.

India to be High Middle Income Economy by 2047: World Bank CEO

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World Bank

Gold Silver Reports – Days after it gave India a 30 place jump in its ease of doing business ranking, the World Bank Saturday said the goods and services tax (GST) and reforms push by the government will catapult the country to high middle income economy in 30 years.

Jerome Powell Brings Continuity and Experience at US Fed

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US Fed

Gold Silver Reports – US President Donald Trump’s choice of Jerome Powell to lead the Federal Reserve is a very wise decision that will be welcomed by markets. It brings a highly-respected, well-informed and experienced professional to the helm of the world’s most powerful central bank.

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