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Amazon.com Founder Jeff Bezos’ Becomes Richest Man Of The World With Net Worth $150 Billion

New Delhi: The Amazon.com Inc. founder Jeff Bezos’ net worth cracked $150 billion in New York on Monday making him the richest person in modern history. According to the Bloomberg Billionaires Index that’s about $55 billion more than Microsoft Corp. co-founder Bill Gates, the world’s second-richest person now.

Bezos, 54, also has topped Gates in inflation-adjusted terms. The $100 billion mark that Gates hit briefly in 1999 at the height of the dot-com boom would be worth about $149 billion in today’s dollars. That makes the Amazon chief executive officer richer than anyone else on earth since at least 1982, when Forbes published its inaugural wealth ranking.

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IMF Cuts Projection Of India’s Growth For This Fiscal To 7.3 Per Cent

New Delhi: The International Monetary Fund (IMF) has reduced projection of India’s growth for this fiscal to 7.3 per cent and for the next to 7.5 per cent on Monday, although the country will still retain its top spot in the global growth league.

The World Economic Outlook (WEO) Update reduced by 0.1 per cent the projections made in April for this year and by 0.3 per cent for 2019, citing the impact of higher oil prices and the likelihood of monetary policy tightening.

Maury Obstfeld, IMF’s director of the Research Department, said that the rise in oil prices due to supply disruptions and geopolitical tensions have harmed importers like India.

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Indian Economy Expected To Be Third Largest By 2030 With GDP Worth $10 Trillion

New Delhi:The Indian economy is at a take off stage and is expected to be the world's third largest by 2030 with GDP worth $10 trillion. Good days are ahead and lot of good work is happening in the economy.

Economic Affairs Secretary Subhash Chandra Garg said, “The economy is on a stage of take off where Indians can legitimately hold their heads high."In the first 40 years of independence, the country hardly grew at 3.5 per cent, and today 7-8 per cent is the norm, Garg said at a function to mark the platinum jubilee celebrations of the Institute of Cost Accountants of India.

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With Taking Over Of Alibaba Group, Mukesh Ambani Becomes Richest Person Of Asia

New Delhi: Chairman Reliance Industries Ltd Mukesh Ambani overtook Alibaba Group founder Jack Ma to become Asia’s richest person. He positions Reliance Industries Ltd. to disrupt the e-commerce space in India.

The chairman of India’s refining-to-telecoms conglomerate, Ambani was estimated to be worth $44.3 billion on Friday with Reliance Industries Ltd. rising 1.6 percent to a record 1,099.8 rupees, according to Bloomberg Billionaires Index. Ma’s wealth stood at $44 billion at close of trade on Thursday in the U.S., where the company is listed.

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GST Council To Discuss Ease Of Filing Returns, Rate Reduction On July 21

New Delhi: Union Finance Minister PiyushGoyal said that the Goods and Services Tax (GST) Council would discuss ease of filing returns, ease of assessment and may also consider further rationalisation of tax rates in the next meeting of the GST Council on July 21.

He said the Goods and Services Tax (GST) Council had been responsive to industry demands and it will take the final call on further tax rate rationalisation based on achieving the right balance with revenue.

"The GST Council has already reduced rates on 328 items... there may be further rate reduction where there is a meritorious reason. It has to be in balance with revenue consideration," Goyal told reporters here.