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Economy

  • Finance Bill clears the way for monetary panel on policy rate

    Finance Bill clears the way for monetary panel on policy rate  

    The move to strip Reserve Bank Governor of powers to set interest rates by transferring the authority to a broader panel is a step closer to reality with the Lok Sabha today approving the Finance Bill 2016.

    05 May 2016, 8.00 pm  |  Source: PTI

  • Rupee ends steady at 66.55 vs US dollar

    Rupee ends steady at 66.55 vs US dollar  

    The rupee recouped from its morning losses against the American currency and ended barely steady at 66.55 on mild selling of dollars by banks and exporters in view of recovery in the domestic equity market.

    05 May 2016, 7.00 pm  |  Source: PTI

  • Opening a bank is easier than a restaurant: Pratip Chaudhuri

    Opening a bank is easier than a restaurant: Pratip Chaudhuri   

    The Reserve Bank of India has sought views on its draft guidelines for 'on tap' licensing of universal banks in the private sector. The former State Bank of India Chairman Pratip Chaudhuri also said it is easier to start a bank bu...

    05 May 2016, 6.37 pm  |  Source: Moneycontrol.com

  • Stalled hydro project not to impact 24X7 power supply plans

    Stalled hydro project not to impact 24X7 power supply plans  

    Stalled hydro power projects of 4,341 MW capacity planned to be implemented in the 12th Plan period (2012-17) will not impact government's target of ensuring round the clock electricity supply to all, Power Minister Piyush Goyal ...

    05 May 2016, 5.40 pm  |  Source: PTI

  • Clean energy projects get Rs 86K cr investment

    Clean energy projects get Rs 86K cr investment  

    Renewable energy projects have received Rs 86,000 crore investment, most of it from private sector, in the last three years with Madhya Pradesh at top garnering Rs 14,313.80 crore.

    05 May 2016, 4.08 pm  |  Source: PTI

  • Gross hiring in top IT cos in FY17 may fall on lower attrition

    Gross hiring in top IT cos in FY17 may fall on lower attrition  

    Attrition level has eased and is at benign levels for top IT companies, following which gross hiring in this space for the fiscal could see a reduction, says a report.

    05 May 2016, 4.08 pm  |  Source: PTI

  • Govt eases norm for availing export benefits under MEIS

    Govt eases norm for availing export benefits under MEIS  

    Exporters have been relieved from submitting the landing certificate of goods to avail benefits under the Merchandise Exports India Scheme (MEIS), a move aimed at facilitating ease of doing business.

    05 May 2016, 4.08 pm  |  Source: PTI

  • Goyal meets Prabhu to discuss 35k KM rail line electrification

    Goyal meets Prabhu to discuss 35k KM rail line electrification  

    Moving a step closer to forging a collaboration on electrification of 35,000 km of railway tracks, Power Minister Piyush Goyal today held discussions with Railway Minister Suresh Prabhu to start the project at the earliest.

    05 May 2016, 10.16 am  |  Source: PTI

  • India eyes cleanup of bad debt mountain

    India eyes cleanup of bad debt mountain  

    India's USD 121 billion troubled debt pile, over USD100 billion of which is on the books of state-owned banks, has come under close scrutiny from prosecutors, the media and politicians.

    05 May 2016, 8.16 am  |  Source: Reuters

  • Expect power costs to come down by up to 50 paise a unit: Goyal

    Expect power costs to come down by up to 50 paise a unit: Goyal   

    Overall, states can look to save about Rs 25,000 crore when the new coal linkage policy is implemented by all states, says Union Minister for Power and Coal Piyush Goyal.

    04 May 2016, 9.35 pm  |  Source: CNBC-TV18

  • Bank credit grows at 9.7% in December quarter

    Bank credit grows at 9.7% in December quarter  

    Scheduled commercial banks credit grew by 9.7 percent in the quarter ended December helped by higher growth in advances of private sector banks, RBI said.

    04 May 2016, 9.14 pm  |  Source: PTI

  • India received $48 bn in remittances in 9 months of last

    India received $48 bn in remittances in 9 months of last  

    India has received USD 48 billion in remittances in the first nine months of the previous fiscal, the government informed Lok Sabha today.

    04 May 2016, 8.20 pm  |  Source: PTI

  • PM`s foreign visits led to higher FDI inflow: Govt

    PM's foreign visits led to higher FDI inflow: Govt  

    Prime Minister Narendra Modi's foreign visits have yielded results in terms of increase in Foreign Direct Investment inflows and overall trade in goods, Parliament was informed on May 4.

    04 May 2016, 6.28 pm  |  Source: PTI

  • Rupee ends lower by 13 paise at 66.55 vs US dollar

    Rupee ends lower by 13 paise at 66.55 vs US dollar  

    The rupee today ended lower by 13 paise to 66.55 against the US currency on fresh dollar demand from banks and importers on the back of higher greenback in the overseas market amid sustained fall in equities.

    04 May 2016, 6.28 pm  |  Source: PTI

  • `Worst of India`s corporate debt crisis seems to be over`

    'Worst of India's corporate debt crisis seems to be over'  

    Corporate India in aggregate is reporting positive free cash flow (FCF) for the second time in two decades and the reversal in the aggregate FCF augurs well for medium term corporate spending and therefore for growth.

    04 May 2016, 5.32 pm  |  Source: PTI

  • India to clock GDP growth of 7.4 pc in FY17: HSBC

    India to clock GDP growth of 7.4 pc in FY17: HSBC  

    India's new GDP series seem to exaggerate the economy's true growth rate and this overestimation is likely to narrow over the next few quarters.

    04 May 2016, 4.26 pm  |  Source: PTI

  • Threat of a weak monsoon is definitely out: Skymet

    Threat of a weak monsoon is definitely out: Skymet   

    The pre-monsoon showers in May also looks strong, he said. The oceans are cooling faster and monsoon will keep its date, says Jatin Singh CEO of Skymet.

    04 May 2016, 4.11 pm  |  Source: CNBC-TV18

  • Rs 3,000 cr per annum plan to boost nuclear power sector

    Rs 3,000 cr per annum plan to boost nuclear power sector  

    The minister said availability of financial resources, land acquisition, availability of water and supply chain of component and equipment are some major problems faced by the sector.

    04 May 2016, 4.08 pm  |  Source: PTI

  • Government admits Indian steel industry under `stress`

    Government admits Indian steel industry under 'stress'  

    "The concern of the member is justified. It has come to the notice of the government that the imports from China, Japan and Korea have increased, which is creating trouble for the domestic industry and also causing losses to it.

    04 May 2016, 4.08 pm  |  Source: PTI

  • RBI extends, revalidates wheat cash credit limit in Punjab

    RBI extends, revalidates wheat cash credit limit in Punjab  

    The Reserve Bank of India (RBI) today revalidated and extended validity of authorisation of Rs 17,523 crore as cash credit limit (CCL) for wheat crop of the rabi 2016-17 season in Punjab till May 31.

    04 May 2016, 3.58 pm  |  Source: PTI

  • 66 lakh MT wheat procured by govt agencies in Haryana

    66 lakh MT wheat procured by govt agencies in Haryana  

    HAFED, Haryana Warehousing Corporation and Haryana Agro Industries Corporation have, on average, lifted the maximum quantity of wheat from the mandis that is 90 per cent each., the spokesman of the Food and Supplies Department sai...

    04 May 2016, 3.48 pm  |  Source: PTI

  • Govt mulls reducing numbers of tax, administrative tribunals

    Govt mulls reducing numbers of tax, administrative tribunals  

    There are at least 36 tribunals for settling various administrative and tax-related disputes, including Central Administrative Tribunal (CAT), Income Tax Appellate Tribunal (ITAT), Customs Excise and Service Tax Appellate Tribunal...

    04 May 2016, 3.30 pm  |  Source: PTI

  • Telecom sector sees over  $4 bn FDI in nearly two years

    Telecom sector sees over $4 bn FDI in nearly two years  

    Telecom sector attracted over USD four billion worth foreign direct investments in nearly two years since April 2014, Telecom Minister Ravi Shankar Prasad said today.

    04 May 2016, 3.20 pm  |  Source: PTI

  • Govt to purchase 15,000 tonnes of onions due to bumper crop

    Govt to purchase 15,000 tonnes of onions due to bumper crop  

    Government will purchase 15,000 tonnes of onions in a move to help the growers in the wake of a bumper crop that has sharply brought down prices, the Lok Sabha was informed today.

    04 May 2016, 3.02 pm  |  Source: PTI

  • India`s April gold imports down 67.3%

    India's April gold imports down 67.3%  

    Citing reasons for the fall, the official said, "not much was imported due to poor demand in the wake of jewellers' strike in April. Whatever gold that was imported in January and February was being used."

    04 May 2016, 2.36 pm  |  Source: PTI

  • Ultra-rich must declare cost price of expensive assets: CBDT

    Ultra-rich must declare cost price of expensive assets: CBDT  

    The luxury items to be disclosed will also include utensils, apparels and furnitures studded with precious stones and ornaments made of gold, silver, platinum or any other precious metal or alloy.

    04 May 2016, 2.36 pm  |  Source: PTI

  • 2,508 cities selected under PM`s scheme for affordable housing

    2,508 cities selected under PM's scheme for affordable housing  

    As on April 25, 2016, a total of 2,508 cities of 26 states have been identified as selected for Pradhan Mantri Awas Yojana-Housing for all (Urban) Mission," Urban Development Minister M Venkaiah Naidu said during Question Hour.

    04 May 2016, 2.32 pm  |  Source: PTI

  • Financial inequality highest in India, China: IMF

    Financial inequality highest in India, China: IMF  

    According to the International Monetary Fund, China and India have grown rapidly and reduced poverty sharply, however, this impressive economic performance has been accompanied by increasing levels of inequality.

    04 May 2016, 2.10 pm  |  Source: PTI

  • Government saves Rs 21,000 cr in LPG subsidy

    Government saves Rs 21,000 cr in LPG subsidy  

    The government began paying subsidy directly into bank accounts of cooking gas consumers in select districts from November 2014 and in the rest of the country from January 1, 2015.

    04 May 2016, 1.50 pm  |  Source: PTI

  • Water scarcity to cost growth, spark conflict, migration: WB

    Water scarcity to cost growth, spark conflict, migration: WB  

    A World Bank report 'High and Dry: Climate Change, Water and the Economy' released yesterday said the combined effects of growing populations, rising incomes and expanding cities will see demand for water rising exponentially, whi...

    04 May 2016, 12.50 pm  |  Source: PTI

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