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Economy

  • Easwar panel on income tax to submit second report in Oct

    Easwar panel on income tax to submit second report in Oct  

    Justice (Retd) R V Easwar, who heads a high-level committee on income tax laws, today said the panel is looking into aspects of accountability of tax officers.

    31 Aug 2016, 6.32 pm  |  Source: PTI

  • Govt spending helped bring liquidity into money markets: L&T Fin

    Govt spending helped bring liquidity into money markets: L&T Fin   

    Non-tax revenue is going to help reduce the overall extend of revenue deficit. She hopes most of it would go into capital expenditure.

    31 Aug 2016, 6.21 pm  |  Source: CNBC-TV18

  • GDP growth slows to 7.1% in Q1; mining, construction a drag

    GDP growth slows to 7.1% in Q1; mining, construction a drag   

    Gross domestic product (GDP) during the April-June FY17 slowed to 7.1 percent from 7.5 percent in the same quarter last year and 7.9 percent in the fourth quarter of FY16.

    31 Aug 2016, 6.14 pm  |  Source: CNBC-TV18

  • US engg firm AECOM bets big on India, eyes 30% growth clip

    US engg firm AECOM bets big on India, eyes 30% growth clip  

    Complimenting the Modi administration, AECOM Chairman Michael S Burke said, there has been a "remarkable" improvement in business environment.

    31 Aug 2016, 6.04 pm  |  Source: PTI

  • Eight infra industries grow at 3.2% in July

    Eight infra industries grow at 3.2% in July  

    The core sectors, which contribute 38 percent to the country's total industrial production, had expanded by 1.3 percent in July last year.

    31 Aug 2016, 6.04 pm  |  Source: PTI

  • July core sector growth down at 3.2% led by declines in steel

    July core sector growth down at 3.2% led by declines in steel   

    The eight core sectors of the economy registered 3.2 percent growth in July, down from 5.2 percent in June. Data released on Monday by the Commerce and Industry Ministry showed that in July, the growth in coal output and crude out...

    31 Aug 2016, 5.32 pm  |  Source: Moneycontrol.com

  • India`s Apr-Jul fiscal deficit at Rs 3.93 lakh cr

    India's Apr-Jul fiscal deficit at Rs 3.93 lakh cr  

    Fiscal deficit, which is the gap between expenditure and revenue for the entire current fiscal, has been pegged at Rs 5.33 lakh crore or 3.5 percent of GDP.

    31 Aug 2016, 5.12 pm  |  Source: PTI

  • India`s nascent smartphone market suffers growth hiccup

    India's nascent smartphone market suffers growth hiccup  

    Quarterly smartphones shipment data by the International Data Corporation suggests penetration is, at least temporarily, losing steam.

    31 Aug 2016, 4.37 pm  |  Source: Moneycontrol.com

  • Sheer size of NPAs making headlines: Vinod Rai

    Sheer size of NPAs making headlines: Vinod Rai  

    The former comptroller and auditor general (CAG), who is also working to address the bad loan menace, has said the country has become all too familiar with the nexus between "big business and politics" even as he believes that the...

    31 Aug 2016, 4.32 pm  |  Source: PTI

  • Will soon seek Cabinet nod on vehicle scrapping policy: Gadkari

    Will soon seek Cabinet nod on vehicle scrapping policy: Gadkari  

    Gadkari said the ministry is trying to bring the scrapping policy of commercial vehicles and it has been presented to all the stakeholders.

    31 Aug 2016, 4.08 pm  |  Source: PTI

  • Minimum wage hike for unskilled labourers `historic`: Jaitley

    Minimum wage hike for unskilled labourers 'historic': Jaitley  

    To appease trade unions, the government yesterday announced a 42 percent increase in the minimum wages for unskilled non-agricultural workers to Rs 350 per day from the current Rs 246.

    31 Aug 2016, 4.02 pm  |  Source: PTI

  • Steel Min in talks with other ministries to boost steel demand

    Steel Min in talks with other ministries to boost steel demand  

    The official also said per capita steel consumption in the country needs to be doubled in the shortest possible time and for this the industry also has to chip in.

    31 Aug 2016, 3.26 pm  |  Source: PTI

  • Cabinet okays Rs 500 cr development fund for Asian region

    Cabinet okays Rs 500 cr development fund for Asian region  

    "Cabinet approves creation of a Project Development Fund (PDF) to catalyse Indian economic presence in Cambodia, Laos, Myanmar and Vietnam," said an official release.

    31 Aug 2016, 3.04 pm  |  Source: PTI

  • MRN Cane Power gets green nod for sugar plant in Karnataka

    MRN Cane Power gets green nod for sugar plant in Karnataka  

    A newly incorporated company has proposed to establish an integrated sugar unit with a crushing capacity of 5,000 tonnes cane per day, 35 mw co-generation power plant and 65 kilo litre per day (KLPD) molasses-based distillery at K...

    31 Aug 2016, 3.00 pm  |  Source: PTI

  • Cabinet approves recent changes in FDI policy

    Cabinet approves recent changes in FDI policy  

    The changes introduced in the policy included increase in sectoral caps, bringing more activities under automatic route and easing of conditionalities for foreign investment.

    31 Aug 2016, 3.00 pm  |  Source: PTI

  • Cabinet clears clutch of moves to revive construction sector

    Cabinet clears clutch of moves to revive construction sector   

    The Cabinet, chaired by Prime Minister Narendra Modi, allowed contractors to move to the new speedier arbitration process, approved release of 75 percent of the amount in dispute against bank guarantee and provided for a conciliat...

    31 Aug 2016, 2.08 pm  |  Source: PTI

  • Govt nod to dissolution of Central Inland Water Transport Corp

    Govt nod to dissolution of Central Inland Water Transport Corp  

    The Cabinet, chaired by Prime Minister Narendra Modi, has given its approval for dissolution of CIWTC. The Voluntary Retirement Scheme (VRS) for CIWTC was implemented in the year 2015, an official statement said.

    31 Aug 2016, 2.00 pm  |  Source: PTI

  • Cabinet tweaks arbitration norms to get stalled projects moving

    Cabinet tweaks arbitration norms to get stalled projects moving   

    The new system will ensure liquidity into the construction sector. As per the norms, 75 percent of the amount will be released against margin free bank guarantee. The amount released will be used by contractors to complete project...

    31 Aug 2016, 1.37 pm  |  Source: Moneycontrol.com

  • FAME scheme to help save Rs 60,000 cr fuel annually: Anant Geete

    FAME scheme to help save Rs 60,000 cr fuel annually: Anant Geete  

    "The biggest challenge for the auto sector today is related with environment. Under the scheme, the government has decided to invest Rs 14,000 crore. Due to this investment, we would be able to save fuel worth about Rs 60,000 cror...

    31 Aug 2016, 12.28 pm  |  Source: PTI

  • No power plant in India stranded for want of coal: Piyush Goyal

    No power plant in India stranded for want of coal: Piyush Goyal   

    Piyush Goyal said that the ministry has not funded any states with fresh funds and there has been a financial impact of UDAY as losses have come down for discoms.

    31 Aug 2016, 12.25 pm  |  Source: CNBC-TV18

  • Shivraj Singh Chouhan rolls out red carpet for US firms in MP

    Shivraj Singh Chouhan rolls out red carpet for US firms in MP  

    Shivraj Singh Chouhan, who is currently on a five-day visit to the US, addressed business leaders, executives and analysts here yesterday, touting his state as an "ideal investment destination" that has a conducive business enviro...

    31 Aug 2016, 11.14 am  |  Source: PTI

  • India may auction diamond mine abandoned by Rio Tinto

    India may auction diamond mine abandoned by Rio Tinto  

    The Bunder deposit, about 500 km (300 miles) southeast of New Delhi and discovered by Rio Tinto in 2004, is estimated to contain about 27.4 million carats of diamonds potentially worth billions of dollars.

    31 Aug 2016, 10.32 am  |  Source: Reuters

  • Apr-Jun GDP may slow to 7.5% from 7.9% QoQ

    Apr-Jun GDP may slow to 7.5% from 7.9% QoQ  

    The country's gross domestic product (GDP) growth is expected to see a slowdown in the first (April-June) quarter of fiscal year 2017, a CNBC-TV18 poll of economists suggests, as the impact of a high base and higher deflator plays...

    31 Aug 2016, 10.13 am  |  Source: CNBC-TV18

  • RBI, govt exploring introduction of interest-free banking

    RBI, govt exploring introduction of interest-free banking  

    "Some sections of Indian society have remained financially excluded for religious reasons that preclude them from using banking products with an element of interest.

    31 Aug 2016, 9.18 am  |  Source: PTI

  • GST to reduce corruption in India: Anil Agarwal

    GST to reduce corruption in India: Anil Agarwal  

    Agarwal, who was here to meet Odisha Chief Minister Naveen Patnaik, said that "GST is the best thing in the world to happen here." Stating that many countries across the globe have uniform tax structure now, he said this should al...

    31 Aug 2016, 9.16 am  |  Source: PTI

  • Govt approves Rs 7,457 cr highway projs in 11 states

    Govt approves Rs 7,457 cr highway projs in 11 states  

    "The standing finance committee (SFC) today cleared 16 projects worth Rs 7,456.88 crore for 622 km," Road Transport and Highways Secretary Sanjay Mitra told reporters.

    31 Aug 2016, 9.12 am  |  Source: PTI

  • `GST bill was not on agenda for WB`s two-day special session`

    'GST bill was not on agenda for WB's two-day special session'  

    "The special session of the West Bengal assembly was called to change the name of the state. Name change is a much bigger issue for the state than the GST," the source said.

    31 Aug 2016, 9.12 am  |  Source: PTI

  • Government concerned over fall in prices of some lentils

    Government concerned over fall in prices of some lentils  

    The government has fixed the minimum support price (MSP) of moong at Rs 5,225 per quintal for this year. The wholesale prices of moong dal have started declining sharply these days and at present are ruling at around Rs 5,750 per ...

    31 Aug 2016, 9.10 am  |  Source: PTI

  • RBI processes requests of entities applying for Bharat Bill

    RBI processes requests of entities applying for Bharat Bill  

    "The applications received from banks and non-banks for authorisation to operate as a BBPOU have been processed," RBI said in a release.

    31 Aug 2016, 9.08 am  |  Source: PTI

  • Logical to expect a rate reduction after good monsoon: Jaitley

    Logical to expect a rate reduction after good monsoon: Jaitley  

    Buoyed by the monsoon progress, the minister exuded confidence that India can achieve a 9-10 percent growth rate with a supportive global economic environment.

    31 Aug 2016, 9.00 am  |  Source: PTI

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