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Economy

  • Govt must protect central bank`s independence: Rajan

    Govt must protect central bank's independence: Rajan  

    Taking on his detractors, Governor Raghuram Rajan today said the criticism that RBI killed growth with high rates was at odds with "received wisdom" of India being fastest-growing and urged the government to look beyond 'motiv...

    26 Jul 2016, 8.16 pm  |  Source: PTI

  • Manipur joins UDAY scheme, to get benefits worth Rs 263 crore

    Manipur joins UDAY scheme, to get benefits worth Rs 263 crore  

    Manipur has joined the UDAY scheme meant for revival of debt-stressed power distribution utilities and will get benefits of around Rs 263 crore.

    26 Jul 2016, 8.16 pm  |  Source: PTI

  • New banking entrants to help improve credit culture: RBI

    New banking entrants to help improve credit culture: RBI  

    Reserve Bank's newly appointed deputy governor N S Vishwanathan today said the entry of new players in banking space should improve the credit culture.

    26 Jul 2016, 8.16 pm  |  Source: PTI

  • Middle class inadequately prepared for financial future:Report

    Middle class inadequately prepared for financial future:Report  

    The personal finance advisory platform, News Corp-owned BigDecisions.com, also said around 90 percent of the middle-class people surveyed are not able to benefit adequately from IT deductions under Section 80C of the Income-Tax Ac...

    26 Jul 2016, 7.10 pm  |  Source: PTI

  • NPA clean-up should have started much earlier: Rajan

    NPA clean-up should have started much earlier: Rajan  

    He also said the lenders were initially reluctant to implement the clean-up which started from December 2015 with RBI identifying 150 largest accounts which were facing problems in servicing their debt obligations.

    26 Jul 2016, 7.08 pm  |  Source: PTI

  • Maize prices stable on increased sowing: USGC

    Maize prices stable on increased sowing: USGC  

    There were not much interest shown on the import tenders by state-owned trading firms State Trading Corporation (STC) PEC, floated for the poultry sector and dairy animals.

    26 Jul 2016, 7.08 pm  |  Source: PTI

  • 1.46 lakh ultra HNIs in India, growth slows in FY16: Report

    1.46 lakh ultra HNIs in India, growth slows in FY16: Report  

    Growth of ultra-high networth individuals (HNIs) in the country slowed to under 7 percent to reach 1.46 lakh at the end of 2015-16, according to a report.

    26 Jul 2016, 7.08 pm  |  Source: PTI

  • IFFI infrastructure to be created through PPP: Parsekar

    IFFI infrastructure to be created through PPP: Parsekar  

    Participating in a congratulatory motion, the Chief Minister said the IFFI infrastructure will be equipped with facilities like an entertainment zone.

    26 Jul 2016, 4.18 pm  |  Source: PTI

  • Potential successors to RBI chief Raghuram Rajan

    Potential successors to RBI chief Raghuram Rajan  

    Two government sources with direct knowledge of the matter said Kaushik Basu, who is stepping down as the World Bank's chief economist, had made it onto a shortlist of candidates to take over when Rajan's term expires on September...

    26 Jul 2016, 4.15 pm  |  Source: Reuters

  • New RBI chief unlikely before Aug meeting, Kaushik Basu in frame

    New RBI chief unlikely before Aug meeting, Kaushik Basu in frame  

    Two government sources with direct knowledge of the matter also said Kaushik Basu, who is stepping down as the World Bank's chief economist, had made it onto a shortlist of candidates to take over when Rajan's term expires on Sept...

    26 Jul 2016, 4.12 pm  |  Source: Reuters

  • Govt collected Rs 3,902 cr Swachh Bharat cess in FY`16

    Govt collected Rs 3,902 cr Swachh Bharat cess in FY'16  

    "The amount of Swachh Bharat Abhiyan cess collected in financial year 2015-16 is Rs 3901.78 crore," Minister of State for Finance Santosh Kumar Gangwar said in a written reply to Rajya Sabha today.

    26 Jul 2016, 4.00 pm  |  Source: PTI

  • Intervening to reduce overseas airfares will violate law: Govt

    Intervening to reduce overseas airfares will violate law: Govt  

    "An intervention by the government in the matter of airfare reduction of domestic airlines operating on international sector to protect the interest of NRIs (Non Resident Indians) would not only be in contravention of Indian law b...

    26 Jul 2016, 4.00 pm  |  Source: PTI

  • Natural gas discovery in Indian Ocean

    Natural gas discovery in Indian Ocean  

    India's Oil Ministry and the US Geological Survey made the discovery of large, highly enriched accumulations of natural gas hydrate - an icy form of the fuel - in the Bay of Bengal.

    26 Jul 2016, 4.00 pm  |  Source: PTI

  • Centre approves construction of 2.4 lakh houses for urban poor

    Centre approves construction of 2.4 lakh houses for urban poor  

    Central assistance of Rs 3,634 crore has been approved for construction of the houses under three segments of the urban housing mission -- Affordable Housing In Partnership (1,24,642 houses), Beneficiary Led Construction (1,15,989...

    26 Jul 2016, 3.48 pm  |  Source: PTI

  • Demand in RS to set up state FMs` panel on debt burden

    Demand in RS to set up state FMs' panel on debt burden  

    During the Question Hour, TMC member Derek O'Brien said several states like Uttar Pradesh, Gujarat, Tamil Nadu, West Bengal, Madhya Pradesh and Kerala, have huge debts.

    26 Jul 2016, 3.36 pm  |  Source: PTI

  • Nearly 15,000 complaints received against listed cos in FY16

    Nearly 15,000 complaints received against listed cos in FY16  

    In a written reply to Rajya Sabha, Minister of State for Finance Arjun Ram Meghwal said the complaints received against listed companies in SCORES (Sebi Complaints Redress System) stood at 14,978 in last financial year.

    26 Jul 2016, 3.32 pm  |  Source: PTI

  • SUUTI sale: ITC, Axis Bank, L&T first up on govt plan to divest

    SUUTI sale: ITC, Axis Bank, L&T first up on govt plan to divest  

    The government will soon be appointing merchant bankers to help it find a buyer for its minority stake in 51 companies which it holds through the Specified Undertaking of UTI (SUUTI) fund. The government will kick of its divestmen...

    26 Jul 2016, 3.29 pm  |  Source: Moneycontrol.com

  • Infra spending up; NHAI executing 205 projects: Chairman

    Infra spending up; NHAI executing 205 projects: Chairman  

    On the problems plaguing PPP projects, he said there had been uncertainties in the PPP projects in the past. Also, there had been "very aggressive" bidding in the period from 2010 to 2012.

    26 Jul 2016, 3.22 pm  |  Source: PTI

  • Early solution to dam construction on Mahanadi, hopes Centre

    Early solution to dam construction on Mahanadi, hopes Centre  

    Minister of state for Water Resources Sanjeev Balyan said the Centre was only a intermediary as the issue was majorly a state subject.

    26 Jul 2016, 2.56 pm  |  Source: PTI

  • Not appropriate to compare 7th pay panel with previous ones:Govt

    Not appropriate to compare 7th pay panel with previous ones:Govt  

    According to the 7th Pay Commission, the real increase given in 1996 and 2006 in minimum pay was 31 percent and 51 percent. As compared to that, the commission recommended an increase of 14.29 percent.

    26 Jul 2016, 2.38 pm  |  Source: PTI

  • Govt bonds short of the crease, FPIs bid for Rs 7,227 cr

    Govt bonds short of the crease, FPIs bid for Rs 7,227 cr  

    The auction was conducted on NSE's e-bid platform from 1530 hrs to 1730 hrs yesterday after the close of market hours. At the end of the two-hour auction, all the 34 bids were declared successful.

    26 Jul 2016, 2.16 pm  |  Source: PTI

  • 269 fresh FPIs register with Sebi in April

    269 fresh FPIs register with Sebi in April  

    This is over and above the nearly 2,900 additional FPIs who got approval from Sebi during 2015-16.

    26 Jul 2016, 2.08 pm  |  Source: PTI

  • Moving to GST regime will be beneficial for economy: DBS

    Moving to GST regime will be beneficial for economy: DBS  

    Hopes are high that the long-standing Goods and Services Tax (GST), which has been pending for more than a decade, will be passed in the ongoing monsoon Parliament session.

    26 Jul 2016, 1.56 pm  |  Source: PTI

  • Suresh Prabhu to flag off Delhi-Agartala train service on Jul 31

    Suresh Prabhu to flag off Delhi-Agartala train service on Jul 31  

    The new direct train would be named as 'Tripureswari Super Fast Express,' Tripura Transport Minister Manik Dey told PTI.

    26 Jul 2016, 1.46 pm  |  Source: PTI

  • India discovers producible natural gas hydrates: US agency

    India discovers producible natural gas hydrates: US agency  

    "Advances like the Bay of Bengal discovery will help unlock the global energy resource potential of gas hydrates as well help define the technology needed to safely produce them," said Walter Guidroz, coordinator of the US Geologi...

    26 Jul 2016, 1.12 pm  |  Source: PTI

  • Govt notifies revised pay grades for employees

    Govt notifies revised pay grades for employees  

    The minimum pay in central government with effect from January 1, 2016 will now be Rs 18,000 per month; at the highest level, it will be Rs 2.5 lakh.

    26 Jul 2016, 12.48 pm  |  Source: PTI

  • Mining crisis in Goa pulls primary sector growth into negative

    Mining crisis in Goa pulls primary sector growth into negative  

    The report, tabled in the Legislative Assembly here yesterday, stated that the growth in the primary sector slipped largely due to continued crisis in state's major revenue earner iron ore mining industry.

    26 Jul 2016, 11.38 am  |  Source: PTI

  • Chidambaram has been magnanimous in endorsing my book:Subbarao

    Chidambaram has been magnanimous in endorsing my book:Subbarao  

    In the newly published book about his days as RBI governor, Subbarao was very critical of Chidambaram and Pranab Mukherjee, who served as finance ministers during his tenure at the central bank during 2008 to 2013.

    26 Jul 2016, 11.16 am  |  Source: PTI

  • Indo-Pak trade at $339.43 mn in April-May

    Indo-Pak trade at $339.43 mn in April-May  

    Exports during April-May stood at USD 278.75 million and imports were aggregated at USD 60.68 million.

    26 Jul 2016, 9.34 am  |  Source: PTI

  • Rajasthan wants Maha industrialists to partner in farm sector

    Rajasthan wants Maha industrialists to partner in farm sector  

    GRAM, an agri-technology and business event, is being organised in association with Federation of Indian Chambers of Commerce and Industry (FICCI) from November 9-11 at Jaipur.

    26 Jul 2016, 9.34 am  |  Source: PTI

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