Economy

On Friday night, the RBI Deputy Governor Viral Acharya warned that undermining a central bank's independence could be "potentially catastrophic", in an indication that it is pushing back hard against government pressure to relax its policies and reduce its powers.

In the latest move, the RBI made its disagreement with authorities public in a hard-hitting speech by Deputy Governor Viral Acharya on Friday -- which he said had the backing of Governor Urjit Patel -- defending the central bank's independence.

The association said in a statement on Monday that "undermining the country's central bank was a recipe for disaster which the government must desist".

India's share of global GDP growth is expected to rise from 13 per cent to almost 16 per cent -- a jump of three percentage points, forecasts report.

Comments from RBI deputy governor Viral Acharya come amid government efforts to create a separate regulator for the country's payments system - which is currently handled by the RBI as part of its functions related to banking regulations.

The move comes amid worries of a liquidity crunch after defaults at one of the country's largest infrastructure financing companies.

The government has said it was confident of meeting its fiscal deficit target of 3.3 per cent of GDP in the 2018-19 fiscal year despite pressure on the economy from rising oil prices.

For the first nine months of 2018, imports of 124.6 million tonnes are up 20 per cent from the same period a year earlier.

An analysis by Prime Minister Narendra Modi's administration shows that Southeast Asian nations, Australia, and South Korea among others have competitive advantage over India due to free trade agreements with China.

State-run oil marketing companies Indian Oil, Bharat Petroleum and Hindustan Petroleum revise fuel prices with effect from 6 am on a daily basis.

Mark Mobius' bet comes at a time when investors have been selling holdings in non-banking finance companies (NBFCs) after a series of defaults by the country's leading infrastructure finance company in September triggered contagion fears and prompted the government to step in and take control of the company.

The Income Tax Department assessees to file their ITRs and pay taxes based on their tax history or some new information received by the taxman about their transactions.

IT department said the number of individual taxpayers earning over Rs 1 crore annually had seen a growth of about 68 per cent.

GST Return: GSTR-3B for a particular month is required to be filed by the 20th day of the subsequent month.

Wholesale and retail onion rates in Delhi have hit the roof in the last 10 days because of low supply from other states. Depending on the quality and locality, onions can be bought in the range of Rs 30-40 per kg.