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Kaziranga Park close for visitors

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Kaziranga National Park

Guwahati, May 11: Director Satyendra Singh announced Assam’s Kaziranga National Park will be shut for visitors from next week.

In addition to that, jeep and elephant safaris will be closed from May 16 due to heavy rainfall making it difficult for jeeps to ply for safaris.

The peak safari season is from November 1 to April 30.

“Similarly, the temperatures have also increased in the last couple of days and under these circumstances…Taking these factors into consideration, we have decided to close the park,” Singh said.

“We tried to follow the government’s directives but due to the weather factors, we took the decision to close the park from May 16. However, we are going to put in efforts to make sure that it reopens on October 1,” the park director added.

Kaziranga is famous for one horned rhinos and tigers which is 190 kms away from Guwahati and the total area of the park is 430 sq.km

Wefornews Bureau

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25th GST Council meeting: Rates on 29 items to zero per cent

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GST

New Delhi, Jan 18: An important Goods and Services Tax (GST) Council meet ahead of the Union Budget took place on Thursday.

After the meeting Finance minister Arun Jaitley informed media that they discussed the simplification of return filing process in the meeting. Nandan Nilekani gave a detailed presentation on simplifying return filing process, Jaitley added.

The Goods and Services Tax (GST) Council decided to slash rates on 29 items, mainly handicrafts, to zero per cent, according to Uttarakhand Finance Minister Prakash Pant.

He also informed no decision has been taken on simplification of GST return filing.

“After 10 days, another meeting will be held through video-conferencing. The issue will be discussed then,” Pant stated coming out of the ongoing 25th GST Council meeting here.

Rates of 49 other items have been rationalised, he asserted.

Discussion of real estate inclusion under the GST’s ambit likely to be the key agenda of the meet.

“Discussion of real estate inclusion in GST is the key agenda of the GST Council which is scheduled to meet on January 18th,” a senior government official told ANI privy to the deliberations on January 18.

“The GST Council in all likelihood will not reach a decision on this, but a serious discussion is expected nonetheless”, he had asserted.

Earlier in last November , Finance Ministry officials chaired a meeting with real estate developers over GST to be levied on properties owned by private developers.

Discussions are also expected to take place a digital-based economy, with a focus on incentivisation of digital payment of taxes under the GST.

The Council may come up with changes in the GST Law to facilitate the release of locked input tax credit in tourism and hotel industry.

WeForNews

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India’s GDP to grow by 7.1% in FY19: Ind-Ra

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GDP

New Delhi, Jan 18: India Ratings and Research (Ind-Ra) on Thursday predicted that India’s gross domestic product (GDP) will grow at 7.1 per cent in FY19.

“Robust consumption demand and tailwinds from low commodity prices have been the key growth drivers over the past few years,” said Sunil Kumar Sinha, Principal Economist and Director Public Finance, Ind-Ra.

“While consumption demand is likely to remain a growth driver in FY19 also, tailwinds from low commodity prices are now turning into headwinds.”

According to Sinha, on the supply side, all major sectors namely agriculture, industry and services are expected to contribute to FY19 gross value added (GVA) growth.

IANS

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Banks stocks shoot up on 100% FDI in private banks reports

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Mumbai, Jan 18: Banking stocks on Thursday zoomed following reports that the government may allow 100 per cent foreign direct investment (FDI) in private sector banks.

The S&P BSE banking index surged by 1.64 per cent — almost 500 points higher — with stocks of major private banks in the lead.

Around 1.30 p.m., stocks of Yes Bank traded higher by 2.99 per cent, followed by HDFC Bank (up 2.79 per cent), IndusInd Bank (up 2.01 per cent), ICICI Bank (up 1.84 per cent), Kotak Bank (up 1.28 per cent) and Axis Bank (up 0.47 per cent).

State-run State Bank of India’s shares traded higher by 0.88 per cent while those of Bank of Baroda fell by 0.12 per cent and Punjab National Bank dipped by 0.37 per cent.

On the National Stock Exchange, the Nifty Bank index traded higher by 1.83 per cent.

The Nifty Private Bank index edged higher by 1.85 per cent and the Nifty Public Sector Bank index by 0.21 per cent.

Reports on Wednesday said the government may allow 100 percent foreign direct investment in private banks and also consider increasing the permissible limit for FDI in public sector banks to 49 per cent from the current 20 per cent.

IANS

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