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Moneycontrol

Economy

  • Depositing black money in banks will not make it white: FM

    Depositing black money in banks will not make it white: FM  

    "By just depositing it (unaccounted money), you don't avoid the responsibility of paying tax," he said when asked about surge in deposits in banks following withdrawal of high denomination currency notes.

    03 Dec 2016, 7.00 pm  |  Source: PTI

  • Centre-state discord on GST dual control worries India Inc: KPMG

    Centre-state discord on GST dual control worries India Inc: KPMG   

    The impasse is a matter of concern for the corporates, who feel it may destabilise the economy and hurt business, said Sachin Menon, Head Of Indirect Tax, KPMG.

    03 Dec 2016, 6.47 pm  |  Source: CNBC-TV18

  • Petrol pumps get into digital overdrive, play up wallets

    Petrol pumps get into digital overdrive, play up wallets  

    Over 4,800 petrol pumps across the country are dispensing Rs 2,000 per card a day through POS machine swipes and have dispensed Rs 65 crore in the past two weeks.

    03 Dec 2016, 6.10 pm  |  Source: PTI

  • Go digital, even beggar using swipe machine: PM

    Go digital, even beggar using swipe machine: PM  

    "I don't know how far it is true but there is a video going viral on Whatsapp of a beggar being told by a man that though he wanted to help, he does not have change," Modi told BJP's Parivartan Rally here.

    03 Dec 2016, 6.10 pm  |  Source: PTI

  • Deadlock on GST dual control continues; fingers crossed: Jaitley

    Deadlock on GST dual control continues; fingers crossed: Jaitley   

    Consensus on dual control eluded the second day of the GST Council meeting as states and the Centre failed to stitch together a deal. The Council, headed by Finance Minister Arun Jaitley, will now meet on December 11 and 12 to try...

    03 Dec 2016, 5.16 pm  |  Source: Moneycontrol.com

  • Watch: Why your grocery has not become cheaper yet?

    Watch: Why your grocery has not become cheaper yet?   

    Demonetisation has hit the vegetable market hard - right from the farmer to the wholesaler and eventually the vegetable vendor. But why has the rate you are paying for your groceries not fallen? Watch what Meghnad Bose discovered ...

    03 Dec 2016, 3.35 pm  |  Source: CNBC-TV18

  • Political funding audits key to success of demonetisation: Pros

    Political funding audits key to success of demonetisation: Pros   

    The political parties must be open to audits, believe both Govinda Rao, former member, PMEA and Ashok Lahiri, former chief economic advisor.

    03 Dec 2016, 10.40 am  |  Source: CNBC-TV18

  • Consensus eludes GST Council meet; no breakthrough on Day 1

    Consensus eludes GST Council meet; no breakthrough on Day 1   

    The fifth meeting of goods and services tax (GST) saw no breakthrough as the dual control impasse continued. In tomorrow's eight hour long meet too the dual control hitch will be discussed in the hope of coming to a consensus.

    02 Dec 2016, 9.00 pm  |  Source: CNBC-TV18

  • Note ban `highly disruptive`; not to change behaviour: Krugman

    Note ban 'highly disruptive'; not to change behaviour: Krugman  

    Criticising demonetisation of Rs 500 and Rs 1000 notes, Nobel laureate Paul Krugman today said it is "highly disruptive" and will not change behaviour of people who would become more careful and sophisticated in money launderi...

    02 Dec 2016, 8.14 pm  |  Source: PTI

  • Rise in crude price to hike petrol, diesel prices: Oil Min

    Rise in crude price to hike petrol, diesel prices: Oil Min   

    In conversation with CNBC-TV18, Oil Minister Dharmendra Pradhan said that the consumer market will be affected with the rise in crude prices.

    02 Dec 2016, 6.23 pm  |  Source: CNBC-TV18

  • India Ratings lowers GDP forecast to 6.8% post demonetisation

    India Ratings lowers GDP forecast to 6.8% post demonetisation  

    India Ratings today lowered its GDP forecast for 2016-17 to 6.8 per cent from 7.8 per cent earlier, stating that the demonetisation drive will lead to an erosion of Rs 1.5 trillion this fiscal.

    02 Dec 2016, 6.12 pm  |  Source: PTI

  • Govt not to raise import duty further on steel products

    Govt not to raise import duty further on steel products  

    The government has received representations from the steel industry to increase the import duty, he said.

    02 Dec 2016, 3.52 pm  |  Source: PTI

  • Banks with currency chest need to boost supply for crop: RBI

    Banks with currency chest need to boost supply for crop: RBI  

    To ensure adequate allocation of banknotes is made for rural branches, post offices and DCCBs, banks are advised to involve the district co-ordinators (Lead District Managers) functioning under State Level Bankers' Committee (SLBC...

    02 Dec 2016, 3.32 pm  |  Source: PTI

  • India raises market stabilisation bond issuance limit: RBI

    India raises market stabilisation bond issuance limit: RBI  

    The government, with advice from the central bank, has taken the action as the country's ban on 500 and 1,000 rupee notes had created "a significant increase of liquidity" that was "expected to continue for some time," the Reserve...

    02 Dec 2016, 3.30 pm  |  Source: Reuters

  • `Early Budget to accelerate implementation of public projects`

    'Early Budget to accelerate implementation of public projects'  

    A proposal was made for advancing the date of budget presentation from the last working day of February to February 1, 2017 or any other date as may be necessary, Minister of State for Finance Arjun Ram Meghwal said in a written r...

    02 Dec 2016, 3.26 pm  |  Source: PTI

  • Move to cashless society to be driven by feature phones: Hota

    Move to cashless society to be driven by feature phones: Hota  

    NPCI is trying to promote the USSD, or *99# service — which can be accessed without internet connectivity on both feature phones as well as smartphones — more aggressively than the United Payment Interface, which can be access...

    02 Dec 2016, 3.18 pm  |  Source: Moneycontrol.com

  • RBI places order to print currency as per requirement: Govt

    RBI places order to print currency as per requirement: Govt  

    Replying to questions in Lok Sabha, Minister of State for Finance Arjun Ram Meghwal said the new series of bank notes have been introduced with effect from November 10 after the cancellation of legal tender character of the old hi...

    02 Dec 2016, 3.18 pm  |  Source: PTI

  • Hit by cash ban, gold may dip further; next watch Fed and dollar

    Hit by cash ban, gold may dip further; next watch Fed and dollar  

    The government’s demonetisation exercise and the recent clarification by tax authorities on gold holdings by individuals per household could also add to pressure on the metal.

    02 Dec 2016, 3.17 pm  |  Source: Moneycontrol.com

  • Demonetisation, GST to create larger, cleaner economy: Jaitley

    Demonetisation, GST to create larger, cleaner economy: Jaitley  

    Both the economy and social system will see a major transformation after the implementation of the Goods and Services Tax (GST) post demonetisation.

    02 Dec 2016, 3.00 pm  |  Source: PTI

  • Expect challenging times ahead for India steel players: ICRA

    Expect challenging times ahead for India steel players: ICRA  

    Domestic steel demand remained largely stagnant in Q1 2016-17, with consumption growing by just 0.4 percent year-on-year (y-o-y) during this period, ICRA said in a statement.

    02 Dec 2016, 3.00 pm  |  Source: PTI

  • Fertiliser Min seeks funds for setting up 11 new CIPET centres

    Fertiliser Min seeks funds for setting up 11 new CIPET centres  

    The Centre has approved setting of up of 11 new centres including an Advanced Polymer Design and Development Research Laboratory of CIPET, Minister of State for Fertilisers Mansuk L Mandaviya said in the Rajya Sabha.

    02 Dec 2016, 3.00 pm  |  Source: PTI

  • Govt may eliminate taxman`s discretion, lower stamp duty

    Govt may eliminate taxman's discretion, lower stamp duty  

    Panagariya, a former chief economist of the Asian Development Bank, was responding to questions on possible follow-up measures to the November 8 announcement of ban on 500 and 1,000-rupee banknotes.

    02 Dec 2016, 3.00 pm  |  Source: PTI

  • COMMENT: OPEC cuts add to India`s economic stress after demonetisation

    COMMENT: OPEC cuts add to India's economic stress after demonetisation  

    Rising oil inventory and stressed financials was the driving force that pushed the Organisation of Petroleum Exporting Countries (OPEC) to see reason in cutting production. The oil industry was literally running out of storage spa...

    02 Dec 2016, 2.49 pm  |  Source: Moneycontrol.com

  • Remove cap on cash withdrawal for industries: Assocham

    Remove cap on cash withdrawal for industries: Assocham  

    Urging the government to consider lifting the cash withdrawal limit for corporate firms, Assocham said there is no scope of misuse as these transactions are properly recorded and audited.

    02 Dec 2016, 2.46 pm  |  Source: PTI

  • No proposal to cut import duty on gold: Government

    No proposal to cut import duty on gold: Government  

    "There is no such proposal under consideration at present," Minister of State for Finance Santosh Kumar Gangwar said in a written reply to the Lok Sabha.

    02 Dec 2016, 2.36 pm  |  Source: PTI

  • Govt raises MSS cap to Rs 6 lakh crore to manage liquidity

    Govt raises MSS cap to Rs 6 lakh crore to manage liquidity  

    After the withdrawal of the legal tender character of the Rs 500/1,000 denomination notes with effect from November 9, there has been a surge in deposits with the banks, the Reserve Bank said in a notification.

    02 Dec 2016, 2.24 pm  |  Source: PTI

  • India hopes to work closely to expand ties with UAE: Prez

    India hopes to work closely to expand ties with UAE: Prez  

    Mukherjee stated this while extending his greetings to the government and people of the UAE on the occasion of their National Day.

    02 Dec 2016, 2.24 pm  |  Source: PTI

  • FinMin working to converge all insurance schemes for weavers

    FinMin working to converge all insurance schemes for weavers  

    MGBBY, the insurance scheme for coverage of handloom weavers is being implemented by the Office of Development Commissioner for Handloom through the LIC, she said.

    02 Dec 2016, 2.14 pm  |  Source: PTI

  • Finance Ministry, RBI response sought on exchanging old notes

    Finance Ministry, RBI response sought on exchanging old notes  

    A division bench of Justices Bhushan Gavai and Vinay Deshpande issued the notices yesterday while hearing a Public Interest Litigation (PIL), and posted the matter for further hearing after three weeks.

    02 Dec 2016, 2.14 pm  |  Source: PTI

  • RS members seek more time for farmers to payback crop loan

    RS members seek more time for farmers to payback crop loan  

    A Navaneethakrishnan (AIADMK) raised the issue during Zero Hour, saying the farmers are facing problems in paying interest on their crop insurance loans due to paucity of cash.

    02 Dec 2016, 2.14 pm  |  Source: PTI

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