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Suchetana Ray

Suchetana Ray covers aspects of the government’s economic policy. A news junkie, she is invested in HT’s ‘digital first’ policy.

Articles by Suchetana Ray

Cabinet hikes carpet area for affordable housing, higher demand seen

The carpet area of an MIG-I will increase from 90 square metres to up to 120 square metres and in MIG-II category it will increase from 110 square metre to up to 150 square metres.

Realtors said the decision to increase the carpet area of MIG houses will encourage developers to launch new projects and boost economy. (HT file photo)
Updated on Nov 16, 2017 10:35 PM IST
Hindustan Times, New Delhi | ByMoushumi Das Gupta and P Suchetana Ray

Bankruptcy Code not to be amended for homebuyers: Govt sources

In an order, the National Company Law Tribunal ruled that homebuyers are stakeholders of a realty firm. It directed that the resolution plan has to protect all stakeholders, including homebuyers.

A project coming up in Bengaluru. The housing ministry has recommended amendments to the Insolvency and Bankruptcy Code to protect homebuyers. (HT file photo)
Updated on Nov 16, 2017 10:47 AM IST
Hindustan Times, New Delhi | ByP Suchetana Ray

New GST rates effective from November 15, but goods in stores may not cost less

Most companies have communicated the price changes to wholesalers, stockists and retail partners, requesting them to sell at the new prices, but it will be difficult for them to control the entire retail market.

Customers buy goods at a shop in Ajmer. Goods such as shampoo and detergents should have cost less from November 15, but it didn’t happen because companies can’t immediately change the prices displayed on products already in stores. (HT file photo)
Updated on Nov 15, 2017 11:20 PM IST
Hindustan Times, New Delhi | ByP Suchetana Ray and Sounak Mitra, New Delhi

Jaitley signals further GST rate cuts, hits out against politicising tax reform

Union minister Arun Jaitley dismissed political charges that the tax rate rationalisation announced by the GST Council last Friday was designed to influence assembly polls in Gujarat.

Union finance minister Arun Jaitley(PTI Photo)
Updated on Nov 13, 2017 11:56 PM IST
Livemint, New Delhi | ByGireesh Chandra Prasad and P Suchetana Ray

Centre pulled up by Parliament audit watchdog over low use of telecom project fund

The Centre has so far disbursed only 40% of the fund collected since 2002-03 under the Universal Access Levy.

A CAG report said objectives of establishing the Universal Service Obligations Fund for accelerating the growth of rural telephony were not achieved.(File Photo)
Updated on Nov 12, 2017 11:12 PM IST
Hindustan Times, New Delhi | BySaubhadra Chatterji and P Suchetana Ray

Post DeMo, ED probing 3700 cases involving illegal assets worth Rs 9900 crore

Heightened crackdown through 620 search operations across the country has led to the discovery of illegal assets worth more than Rs 9,900 crore.

A demonstrator shows an old fake 1000 rupee note during a protest, organised by Congress, to mark a year since demonetisation was implemented by Prime Minister Narendra Modi, in Ahmedabad, November 8.(Reuters Photo)
Updated on Nov 10, 2017 12:00 AM IST
Hindustan Times, New Delhi | ByP Suchetana Ray

Govt to incentivise online payments to push digital transactions

The incentives could include cashbacks and reward points for BHIM users; the ministry’s note also talked about increasing the adoption of the BBPS and printing of a Bharat Quick Response (QR) code to facilitate easier government bill payments.

The ministry’s note said the merchant discount rate, the money that banks charge for card transactions, would be rationalised on debit cards.(HT File Photo)
Updated on Nov 09, 2017 09:59 AM IST
Hindustan Times, New Delhi | BySaubhadra Chatterji & P Suchetana Ray

Demonetisation: A year on, hawala operators limp back to business

As demonetisation completes one year, there is no physical movement of cash, only phone calls or messages from one angadiya (Hindi for a courier) to another.

A year after demonetisation, the wily network of black money agents is slowly recovering from the body blow it suffered on November 8, 2016.(PTI)
Updated on Nov 08, 2017 08:55 AM IST
New Delhi, Hindustan Times | ByP Suchetana Ray and Sarika Malhotra

Pre-budget discussions begin, power and telecom laggards in spending

While other ministries on an average spent 54% of the money allocated to them in this year’s budget during the April-September period, power and telecom departments spending stood at 40%.

The power ministry was allocated Rs 13, 881 crore and the ministry of communications, including IT, telecom and post, got Rs 36,237 crore for 2017-18.(File Photo)
Updated on Nov 07, 2017 08:47 PM IST
Hindustan Times, New Delhi | ByP Suchetana Ray

Paradise Papers: Probe into use of tax havens to be headed by CBDT chief

More than 700 Indians, including politicians, industrialists and celebrities, figure in the Paradise Papers that focus on their alleged offshore investments in tax havens

A multi-agency group – comprising taxmen and officers of the CBI, Enforcement Directorate and Financial Intelligence Unit – will look into the Paradise Papers case.(Getty Images/iStockphoto)
Updated on Nov 06, 2017 08:56 PM IST
Hindustan Times, New Delhi | By

Paradise Papers: Tax officials say waiting for govt word before any probe

Sources in the income tax department said they would initiate an inquiry into the original documents once the government gave the go-ahead.

A total of 714 Indians, including politicians, industrialists and celebrities, figure in the documents that focus on their off-shore investments and operations.(Getty Images/iStockphoto)
Updated on Nov 06, 2017 05:28 PM IST
Hindustan Times, New Delhi | ByP Suchetana Ray

Ease of doing business: How India improved its ranking

For the first time, India jumped a record 30 places to 100 in the Ease of Doing Business report for 2018, which is an influential 190-country barometer of competitiveness that many businesses likely consider for investment decisions.

Shoppers browsing through the products of a Bharti Wal-Mart Best Price Modern wholesale store in Hyderabad.(AFP File Photo)
Updated on Nov 01, 2017 09:12 AM IST
Hindustan Times, New Delhi | ByP Suchetana Ray and Moushumi Das Gupta

India jumps into top 100 in World Bank’s ease of doing business rankings

The World Bank’s ease of doing business rankings showed that eight reforms were key in helping businesses in 2016/17.

India is also among the 10 economies to have improved the most, alongside El Salvador, Malawi, Nigeria and Thailand.(Reuters File)
Updated on Oct 31, 2017 11:43 PM IST
Hindustan Times, New Delhi | ByP Suchetana Ray and Asit Ranjan Mishra

RBI objects to new bankruptcy bill for banks, insurers

The Reserve Bank of India says some of its provisions could undermine the authority of other regulatory bodies.Bank

The Reserve Bank of India has objected to a draft law dealing with bankruptcy in financial institutions.(File Photo/LiveMint)
Updated on Oct 31, 2017 09:32 AM IST
Hindustan Times, New Delhi | BySaubhadra Chatterji and P Suchetana Ray

CBI, ED widen investigation against Karti, will probe more decisions by Chidambaram

The CBI and ED will also question officials who were part of the then Foreign Investment Promotion Board, which recommended those proposals.

File photo of Karti Chidambaram, the son of former finance minister P. Chidambaram, arriving at the CBI headquarters in New Delhfor questioning.(HT)
Updated on Oct 28, 2017 07:39 AM IST
Hindustan Times, New Delhi | ByP Suchetana Ray

Govt sets up expert group for suggestions on artificial intelligence policy

The government has recently drawn up a seven-point strategy for India’s tactical plan to use artificial intelligence.

The artificial intelligence market is estimated to touch $153 billion in 2020.(Shutterstock)
Updated on Oct 20, 2017 03:48 PM IST
Hindustan Times, New Delhi | ByP Suchetana Ray and Sarika Malhotra

Can’t revisit decision to change tax transfer date, Centre tells states

The Union finance ministry has informed states that the devolution of central taxes will happen on the 15th of every month instead of the 1st, for the remaining months of this financial year, and from 2018-19, it will be transferred once every three months.

The Union finance ministry has said the tax realisation under the Goods and Services Tax (GST) has been shifted to the 20th of every month.(AFP File Photo)
Updated on Oct 18, 2017 12:12 PM IST
Hindustan Times, New Delhi | ByP Suchetana Ray

SC to hear pleas against linking Aadhaar with mobile number, bank account: All you need to know

Aadhaar has been facing a slew of legal challenges on the grounds that it breaches privacy. In August, the Supreme Court made privacy a fundamental right.

File photo of Rajasthani women showing their Aadhaar cards before a vote in Ajmer.(PTI)
Updated on Oct 17, 2017 06:30 PM IST
Hindustan Times, New Delhi | By

States upset as Centre set to defer revenue payments from monthly to quarterly

The Centre will send the states’ share of revenue on the 15th of every month till March 2018 and transfer money every quarter, thereafter.

Finance Minister Arun Jaitley at the Harvard South Asia Institute in Boston on Wednesday.(PTI)
Updated on Oct 14, 2017 11:26 PM IST
Hindustan Times, New Delhi | ByP Suchetana Ray

Don’t deviate from fiscal consolidation exercise: PM’s Economic Advisory Council

The EAC’s stance contradicts NITI Aayog vice chairman who said last Wednesday that the economy will do well with a fiscal stimulus and there will be no harm if the deficit target is missed.

Bibek Debroy, chairman of the Economic Advisory Council to the Prime Minister (EAC-PM), with members Ratan P Watal, Rathin Roy, Surjit Bhalla and Ashima Goyal during a press conference in New Delhi on Wednesday.(PTI)
Updated on Oct 12, 2017 12:17 AM IST
New Delhi, Hindustan Times | ByJatin Gandhi and P Suchetana Ray

PM Modi’s economic advisors to meet for the first time today

The PM’s Economic Advisory Council will address all issues of emergent importance, will engage with a broad spectrum of stakeholders and formulate advice accordingly, the statement said.

Prime Minister Narendra Modi at the Golden Jubilee Year celebrations of Institute of Company Secretaries of India at Vigyan Bhavan in New Delhi on October 4, 2017.(Arun Sharma/HT Photo)
Updated on Oct 11, 2017 12:41 PM IST
Hindustan Times, New Delhi | By

HT Youth Survey: India’s young like quality, but don’t like to show off

In Part 1 of HT Youth Survey 2017, what India’s young, style conscious men and women want to buy.

Students Rhythem Vatsa (left) and Amrita Sokhi may be style conscious, but only spend money on big labels when quality is on offer.(Raj K Raj/HT PHOTO)
Updated on Oct 09, 2017 01:29 PM IST
Hindustan Times | By

Diesel locomotive project with General Electric on track, says Piyush Goyal

Minister Piyush Goyal said the government’s focus is on electrification of the Indian railway network but clarified that it won’t jeopardise the contract with General Electric to supply and maintain diesel locomotives for Bihar’s Marhoura project.

Railway minister Piyush Goyal with MoS Manoj Sinha at a press conference in New Delhi on Thursday.(PTI Photo)
Updated on Sep 28, 2017 05:00 PM IST
Hindustan Times, New Delhi | BySrinand Jha and P Suchetana Ray

Shopclues’ Sandeep Aggarwal files FIR against co-founders in fight to control company

Aggarwal has alleged that his wife Radhika and Sanjay Sethi cheated him and took signatures on wrong papers and committed forgery in order to usurp the company.

Shopclues’ founder Sandeep Aggarwal has accused his wife Radhika and co-founder Sanjay Sethi of forgery to usurp the company from him.
Updated on Sep 26, 2017 10:54 PM IST
Hindustan Times, New Delhi | ByRajesh Ahuja and Suchetana Ray, New Delhi

Aircel-Maxis case: ED attaches Karti Chidambaram’s assets worth Rs 1.16 crore

The former finance minister P Chidambaram’s son is facing heat from the CBI as the agency had issued a lookout notice against him.

The CBI had summoned Karti Chidambaram for questioning on Thursday but he didn’t appear before the agency saying a special court has discharged all accused in the case and also ‘terminated’ proceedings in the matter.(Sonu Mehta/HT File Photo)
Updated on Sep 25, 2017 07:09 PM IST
Hindustan Times, New Delhi | By, New Delhi

Govt readies booster dose to revive stuttering economy, may target MSME sector

India’s economic growth slumped to 5.7% in April-June quarter, which experts attribute to demonetisation that sucked out 86% of the currency in circulation from a largely cash-reliant economy.

The Micro, small and medium enterprises have been in focus as it’s still reeling under the effects of demonetisation and GST.(File Photo)
Updated on Sep 24, 2017 09:10 AM IST
Hindustan Times, New Delhi | By

Why Indians will continue to pay high oil prices despite lower global rates

Consumers pay more than 100% tax – central and state levies combined – on petrol and diesel.

Authorities check a fuel station. Petroleum minister Dharmendra Pradhan has suggested that petroleum products be brought under GST for uniform tax mechanism across India.(Sanjeev Verma/HT File Photo)
Updated on Sep 22, 2017 06:16 PM IST
Hindustan Times, New Delhi | By

States against govt plan to levy GST on petro products

A petrol pump attendant waits for customers at a station in New Delhi.(AFP File Photo)
Updated on Sep 20, 2017 07:53 AM IST
Hindustan Times, New Delhi/Mumbai | BySuchetana Ray and Ketaki Ghoge, New Delhi/mumbai

Benami Act impact: Taxman attaches 381 properties worth Rs 1300 cr in 9 months

The Benami Transactions (Prohibition) Act was notified for implementation on November 1, 2016.

People deposit their property tax at an income tax office in Gurgaon. Data from the income tax department shows that Tamil Nadu had the maximum property attachments in benami transactions.(HT File Photo)
Published on Sep 16, 2017 11:23 PM IST
Hindustan Times, New Delhi | By

Govt blames Atlantic hurricanes for fuel price hike; cost break-up gives different picture

The petrol price per litre was ranging from Rs 70 to 79 in various Indian cities, while the diesel price was around Rs 61-62 a litre.

Vehicles in front of a petrol pump in New Delhi.(Ravi Choudhary/HT PHOTO)
Updated on Sep 15, 2017 10:48 PM IST
New Delhi, Hindustan Times | By
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