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Economy

  • Strong GDP may offset India`s demonetisation chills

    Strong GDP may offset India's demonetisation chills  

    Having taken credit for putting life back in a moribund economy when he took power 2-1/2 years ago, Prime Minister Narendra Modi's crackdown on tax dodgers and counterfeiters by removing 500 rupee and 1,000 rupee banknotes from ci...

    30 Nov 2016, 7.56 am  |  Source: Reuters

  • No ground work before announcing demonetisation: Tharoor

    No ground work before announcing demonetisation: Tharoor  

    The Congress leader alleged Prime Minister Narendra Modi took the decision in zeal but the real ground work which should have been done was missing.

    30 Nov 2016, 7.54 am  |  Source: PTI

  • `Steps should have been taken to compensate demonetised money`

    'Steps should have been taken to compensate demonetised money'  

    "When 86 percent of the money in the country is demonetised, adequate measures should have been taken to compensate it with new currencies," he told reporters here.

    30 Nov 2016, 7.54 am  |  Source: PTI

  • Demonetisation risky but brave decision by PM: MP CM

    Demonetisation risky but brave decision by PM: MP CM  

    "It was a risky but a very brave decision by the Prime Minister against corruption, fake currency and black money," he was quoted as saying by News Nation channel.

    30 Nov 2016, 7.54 am  |  Source: PTI

  • Strong IT must for better implementation of GST: Grant Thornton

    Strong IT must for better implementation of GST: Grant Thornton   

    Malaysia is one the recent countries to have gone live with the implementation of goods and services tax (GST). Lorraine Parkin, APAC, Grant Thornton, who has closely worked with Malaysia in introducing the indirect tax regime, ta...

    29 Nov 2016, 8.48 pm  |  Source: CNBC-TV18

  • Credit growth hits double digit at 12% in Sep quarter

    Credit growth hits double digit at 12% in Sep quarter  

    Deposit expansion of scheduled commercial banks (SCBs) stood at 12.9 per cent while credit growth was at 12.1 per cent for the quarter ended September, led by higher contribution by public sector banks, RBI today said.

    29 Nov 2016, 7.56 pm  |  Source: PTI

  • Going cashless: India home to 80 cr digital cards, says Prasad

    Going cashless: India home to 80 cr digital cards, says Prasad   

    In conversation with CNBC-TV18, Ravi Shankar Prasad, IT Minister, said the demonetisation drive is a transformative programme to make India more honest.

    29 Nov 2016, 7.17 pm  |  Source: CNBC-TV18

  • Inflation is expected to moderate further: Dun & Bradstreet

    Inflation is expected to moderate further: Dun & Bradstreet  

    According to the report, following the demonetisation move, there has been a decline in consumer demand and moderation in money supply, which in turn is expected to exert downward pressure on inflation.

    29 Nov 2016, 7.00 pm  |  Source: PTI

  • Fertiliser subsidy arrear seen at Rs 40,000 cr by next March

    Fertiliser subsidy arrear seen at Rs 40,000 cr by next March  

    Fertiliser subsidy arrears are likely to be around Rs 40,000 crore at the end of current fiscal due to lower allocation in the Budget, industry body FAI has said while seeking early disbursal of pending dues of manufacturers.

    29 Nov 2016, 6.16 pm  |  Source: PTI

  • CRR hike tempers repo rate cut possibility: Icra

    CRR hike tempers repo rate cut possibility: Icra  

    The expectations on a repo rate cut have been tempered with hike in cash reserve ratio (CRR), Icra said in a note.

    29 Nov 2016, 6.16 pm  |  Source: PTI

  • Demonetisation: RBI printing notes worth close to Rs 30k cr daily, says Gangwar

    Demonetisation: RBI printing notes worth close to Rs 30k cr daily, says Gangwar   

    The Reserve Bank of India is taking measures to ease cash crunch and is printing currency notes worth close to Rs 30,000 crore daily, MoS Finance Santosh Gangwar told CNBC-TV18. The central bank is now focusing more to print the R...

    29 Nov 2016, 5.52 pm  |  Source: CNBC-TV18

  • 78 schemes covered under DBT system so far: Govt

    78 schemes covered under DBT system so far: Govt  

    As many as 78 schemes including Jhan Dhan and MGNREGA being implemented by 17 ministries and departments are covered under Direct Benefit Transfer (DBT) system, the Parliament was informed today.

    29 Nov 2016, 5.40 pm  |  Source: PTI

  • Haryana sees record paddy procurement at 53.24 lakh mt

    Haryana sees record paddy procurement at 53.24 lakh mt  

    Paddy procurement in Haryana so far in the current kharif season crossed 53.24 lakh metric tonnes (lakh mt) -- an all-time high.

    29 Nov 2016, 4.58 pm  |  Source: PTI

  • Assam govt stops cash payment in majority areas

    Assam govt stops cash payment in majority areas  

    The Assam government has stopped cash payments in majority sectors as money is being transferred through Real-time gross settlement systems (RTGS) and online mode, Industry Minister Chandra Mohan Patowary today said.

    29 Nov 2016, 4.58 pm  |  Source: PTI

  • Income Tax Amendment Bill passed in LS despite Oppn protest

    Income Tax Amendment Bill passed in LS despite Oppn protest  

    The bill, moved by Union Finance Minister Arun Jaitley, was passed by voice vote amid a ruckus created by the opposition parties over the demonetisation.

    29 Nov 2016, 3.52 pm  |  Source: NEWS18.com

  • Govt may not extend Dec 30 deadline for deposit of old notes

    Govt may not extend Dec 30 deadline for deposit of old notes  

    The government today said sufficient cash is available with RBI and banks, and it is not considering extending the deadline of December 30 for deposit of invalid Rs 500 and Rs 1,000 notes. The statement was made in the Rajya Sabha...

    29 Nov 2016, 3.52 pm  |  Source: PTI

  • No proposal to set up a pharma ministry: Government

    No proposal to set up a pharma ministry: Government  

    Earlier this year, Department of Pharmaceuticals (DoP) had said that it has come up with a scheme to finance common facility centres like component and radiation testing in proposed medical device parks with an outlay of Rs 300 c...

    29 Nov 2016, 3.42 pm  |  Source: PTI

  • Sell domestic LPG only to PSU oil firms: Govt to producers

    Sell domestic LPG only to PSU oil firms: Govt to producers  

    The Ministry of Petroleum and Natural Gas, in an order issued this month, stated that "sale of indigenously produced LPG is not permitted to the entities other than government oil companies." All domestically produced liquefied pe...

    29 Nov 2016, 3.26 pm  |  Source: PTI

  • Global bidding to select O&M partners for airports: Jayant Sinha

    Global bidding to select O&M partners for airports: Jayant Sinha  

    "AAI has decided for selection of O&M (Operation & Maintenance) partners through a global competitive bidding after obtaining approval of the competent authority," Minister of State for Civil Aviation Jayant Sinha told the Rajya S...

    29 Nov 2016, 3.26 pm  |  Source: PTI

  • Govt approves 6 new SEZs for IT, biotech

    Govt approves 6 new SEZs for IT, biotech  

    The decision was taken by the Board of Approval (BoA), headed by Commerce Secretary Rita Teaotia, at its November 9 meeting, an official said.

    29 Nov 2016, 3.18 pm  |  Source: PTI

  • Excise exemption on PoS device manufacturing till March`17

    Excise exemption on PoS device manufacturing till March'17  

    In order to promote a 'less cash' economy, the government had yesterday removed 12.5 percent excise duty and 4 percent SAD (Special Additional Duty) on PoS machines and goods required for their manufacturing.

    29 Nov 2016, 3.18 pm  |  Source: PTI

  • Keep tax rates modest; end permission raj: Adi Godrej

    Keep tax rates modest; end permission raj: Adi Godrej  

    The government controls in business, he said, breed corruption and this can be tackled by doing away with the practice of seeking permission at every step.

    29 Nov 2016, 3.08 pm  |  Source: PTI

  • RBI relaxes withdrawal norms, nudges retailers to deposit cash

    RBI relaxes withdrawal norms, nudges retailers to deposit cash  

    The decision is aimed at discouraging hoarding of valid currency notes and increasing its circulation to mitigate cash crunch following the demonetisation of old 500 and 1,000 rupee notes.

    29 Nov 2016, 2.56 pm  |  Source: PTI

  • Demonetisation: India growth slowdown to be limited, says Credit Suisse

    Demonetisation: India growth slowdown to be limited, says Credit Suisse   

    Credit Suisse expects India's growth slowdown due to demonetisation to be limited. It sees only minor disruption in high frequency indicators like power demand, rabi sowing and diesel demand.

    29 Nov 2016, 2.46 pm  |  Source: CNBC-TV18

  • Notes ban: Fitch cuts India`s FY17 growth forecast to 6.9%

    Notes ban: Fitch cuts India's FY17 growth forecast to 6.9%  

    It said economic activity will be hit in the October- December quarter because of the cash crunch created by withdrawal and replacement of 500 and 1000 rupee notes that accounted for 86 percent of the value of currency in circulat...

    29 Nov 2016, 2.28 pm  |  Source: PTI

  • Raman Singh woos US investors to Chhattisgarh

    Raman Singh woos US investors to Chhattisgarh  

    Singh, currently on an official tour of the US, will meet investors, experts and companies in Chicago, New York and San Francisco inviting investments in the mineral rich Chhattisgarh.

    29 Nov 2016, 2.16 pm  |  Source: PTI

  • Listed foreign funds bring in $685-mn in October

    Listed foreign funds bring in $685-mn in October  

    "Listed fund flows to India remained positive in October. India has seen USD 685 million of flows, driven by ETF flows of USD 406 million," said a Kotak Institutional Equities report.

    29 Nov 2016, 2.10 pm  |  Source: PTI

  • Govt likely to meet next year`s 3% fiscal deficit goal:BofA-ML

    Govt likely to meet next year's 3% fiscal deficit goal:BofA-ML  

    According to Bank of America Merrill Lynch (BofA-ML), the imposition of 50 percent penalty on black money deposits is likely to help the government meet its fiscal deficit target of 3 percent for 2017-18 and the additional capital...

    29 Nov 2016, 2.10 pm  |  Source: PTI

  • India`s currency swap won`t root out tax cheats: Economists

    India's currency swap won't root out tax cheats: Economists  

    On November 8, Modi announced that all 500 and 1,000 rupee notes in circulation would be cancelled by year-end and replaced with new notes as part of efforts to catch tax evaders holding undeclared cash, or "black money."

    29 Nov 2016, 1.41 pm  |  Source: CNBC

  • Hallmarking of gold and silver jewellery only voluntary: Govt

    Hallmarking of gold and silver jewellery only voluntary: Govt  

    "Presently the hallmarking of gold and silver jewellery is voluntary," Minister of State for Consumer Affairs C R Chaudhary said during Question Hour, amid vociferous Opposition protest.

    29 Nov 2016, 1.38 pm  |  Source: PTI

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