Top economy news of the day

India Infoline News Service | Mumbai |

A Parliamentary panel has rejected the Bill on microfinance institutions and asked the government to bring a fresh legislation before Parliament.

For 2014-15, the deficit has been pegged at 4.1% of GDP, 1% point lower than the target in the fiscal consolidation road map, even as the government cut excise duties to spur manufacturing growth, particularly in consumer durable goods, which fell for the 13th month in a row in December. (BS)

In what could be a major reprieve to manufacturers in the automobile industry, Finance Minister in the interim Budget slashed excise duty on two-wheelers, passenger cars, sports utility vehicles and commercial vehicles between 3-6%. (BS)

A Parliamentary panel has rejected the Bill on microfinance institutions and asked the government to bring a fresh legislation before Parliament. The Bill had sought to empower the central bank to regulate them and fix interest rates ceiling on loans to be provided by MFIs. (BS)

 

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