News digest: GST, U19 Cricket WC, stock markets, MSP calculation, and more

After ICC U19 Cricket World Cup triumph, what next for India's young stars?

In sport, certain teams and individuals are often accompanied by an aura of inevitability — a firm belief among both fans and neutrals that, come a major tournament, they will not disappoint. Examples over the years have included Rafael Nadal ahead of a French Open title defence and the all-conquering Australian cricket side of the last decade before a World Cup. They almost always found a way to prevail — sometimes through spectacular quality, at other times through sheer doggedness. Continue reading

 

SBI posts Rs 24.16 billion quarterly loss for first time in nearly 19 years

State Bank of India (SBI), the country’s largest bank, posted a quarterly loss for the first time in nearly 19 years — of Rs 24.16 billion in the December quarter of 2017-18 — owing to a sizeable increase in provisioning for bad loans. Read more

 

Sensex, Nifty fall more than 1%; post biggest weekly drop since August 2017

Relief was short-lived for investors as Indian stocks tripped again on Friday amid fresh declines in global equities with Wall Street entering a ‘correction zone’, a 10 per cent drop from its peak. Read more

 

MSP calculations will not include imputed land rent, says Arun Jaitley

Finance minister Arun Jaitley on Friday put to rest all speculation about the cost of farm produce, on which the minimum support price (MSP) will be based and will exceed the cost by 50 per cent. Read more

 

GST regime is not tax friendly, fix glitches on GSTN: Bombay HC raps govt

The Bombay High Court has rapped the government for the trouble faced by assessees due to the poor execution of the country’s biggest tax reform, the goods and services tax (GST).  Read more