India has cut import taxes on crude and refined palm oil from ASEAN countries from 44% to __________.

Bombay Stock Exchange (BSE), Asia's oldest bourse, is to snap ties with S&P Dow Jones. BSE plans to develop indices through its in-house development team. S&P Dow Jones manages and operates the benchmark Sensex. The two entities had announced a joint venture (JV) named Asia Index in 2013. The JV is to provide an array of indices enabling global and domestic investors to participate in South Asia's vibrant economies.

The 32nd Meeting of GST Council was concluded in New Delhi. The Limit of annual turnover for composition scheme increased to 1.5 crore rupees effective from April 1, 2019. The Council has decided to increase the GST registration threshold limit to 40 lakh rupees from 20 lakh. The Taxpayers who are giving Services of up to Rs 50 lacs per annum will be taxed under 6% under Composition Scheme. The council has decided to simplify the compliance under the composition scheme.

According to a new index by Nomura, seven countries are at risk of exchange rate crises as investors re-assess their risks. The name of the new index is 'Damocles', that assessed the risk of exchange rate crises for 30 emerging market economies. The seven countries that are at risk of exchange rate crises are Sri Lanka, South Africa, Argentina, Pakistan, Egypt, Turkey and Ukraine.

The Asia-Pacific region s expected to grow at 5.7% in 2019. According to the bank's Asian Development Outlook 2019 report released in April, developing Asia which comprises 45 nations ranging from China to Tuvalu is projected to grow by 5.7% in 2019. However, the growth outlook for developing Asia is expected to moderate to 5.6 % in 2020.

The International Monetary Fund (IMF) cut its economic growth forecasts for India by 20 basis points (bps) each from its January predictions to 7.3% for FY20 and 7.5% for the next fiscal. Citing persistent risks from the trade war, it lowered 2019 global growth forecast by 20 basis points to 3.3%, the weakest since 2009 when the subprime crisis had flared up.

Under construction properties priced over ?45 lakh will attract 5% GST (Goods and Services Tax), instead of 12%. A residential property priced at ?45 lakh or below will now be defined as "affordable" and taxed at 1%, from 8% earlier. The new rates will be effective from April 1, 2019.

Indian Space Research Organisation (ISRO) Chairman Dr. K Sivan stated that the Union Government has allocated 10,900 crore rupees for the development of 40 satellite launch vehicles in the next 4 years. Dr. Sivan also stated that Chandrayan Mission will be launched within three months. It will land in one part of the Moon which is still unexplored. He also said that the human spaceflight Gaganyaan is planned to be launched by 2022, the 75th anniversary of Independence.

Union Minister for Minority Affairs Mukhtar Abbas Naqvi stated that GST on Haj has been reduced from 18% to 5% and this will significantly lower the airfare thus saving Haj pilgrims' 113 crore rupees this year. Mr. Naqvi also stated that for the first time since the independence 2,340 women from India will go on 2019 Haj without Mehram.

The expenditure on advertisements through print media stood at nearly Rs 127 crore while more than Rs 5 crore was spent on advertisements with outdoor media. There was "nil" expenditure for the same on electronic media. The Goods and Services Tax (GST) was implemented on July 1, 2017. The government had also roped in Bollywood megastar Amitabh Bachchan as brand ambassador to promote GST and inform people about its benefits.

Indian economy grew by 8.2% in the first quarter (April-June) of the current fiscal, the highest in over two years. This announcement was made by Finance Minister, Arun Jaitley. The manufacturing sector grew by 13.5% which signals very good turnaround in the sector. In a related development Reserve Bank of India stated Non-food credit growth in the system accelerated to 10.6% for July as compared to previous year, driven by loans to the services sector growing at the faster clip. Credit to the services sector grew 23% for the reporting period, up from the year-ago period's 4.9%.