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Economy

  • Coal imports decline by 15% to 15.9 MT in April

    Coal imports decline by 15% to 15.9 MT in April  

    "Provisional coal import figures: Reduction from 18.7 MT in April 2015 to 15.9 MT in April 2016. In value terms, from Rs 8,942 crore to Rs 6,023 crore (32 per cent)," Coal Secretary Anil Swarup said in a tweet.

    13 May 2016, 4.52 pm  |  Source: PTI

  • ISO sees 3.8 million tonnes sugar deficit in 2016/17

    ISO sees 3.8 million tonnes sugar deficit in 2016/17  

    The London-based ISO, in its latest quarterly report, raised its 2015/16 global sugar deficit forecast to 6.65 million tonnes, from its previous forecast made in February for a deficit of 5.0 million tonnes.

    13 May 2016, 4.00 pm  |  Source: Reuters

  • There will not be a `Lehman moment` in India: Raghuram Rajan

    There will not be a 'Lehman moment' in India: Raghuram Rajan   

    India has taken a crucial first step to speeding up its insolvency regime by passing the country's first national bankruptcy law. The breakthrough is expected to help India tackle its mounting bad debt problem after two of the cou...

    13 May 2016, 3.23 pm  |  Source: CNBC

  • Govt convenes meet on preparedness for monsoon, disaster

    Govt convenes meet on preparedness for monsoon, disaster  

    The conference of relief commissioners and secretaries of state governments will be held on May 18 here to review the status of preparedness for southwest monsoon and discuss other disaster management related issues.

    13 May 2016, 2.48 pm  |  Source: PTI

  • RBI Governor says no reason for India govt to sell dollar bonds

    RBI Governor says no reason for India govt to sell dollar bonds  

    Rajan also said foreign investors would continue to get more access to Indian rupee bond markets.

    13 May 2016, 2.40 pm  |  Source: Reuters

  • Cabinet approves national IPR policy, DIPP to be nodal agency

    Cabinet approves national IPR policy, DIPP to be nodal agency   

    The Department of Industrial Policy & Promotion (DIPP) will be the nodal department to co-ordinate, guide and oversee implementation and future development of IPR’s in India.

    13 May 2016, 2.37 pm  |  Source: CNBC-TV18

  • Raghuram Rajan says core inflation a bit higher than desired

    Raghuram Rajan says core inflation a bit higher than desired  

    "Broadly core inflation has a been fairly sticky, a bit higher than we would want. It hasn't moved up and down. We will continue on the task of anchoring expectations," Rajan said, speaking at an event at the Chicago Booth busines...

    13 May 2016, 2.00 pm  |  Source: Reuters

  • Release funds for MNREGA, pay damages to farmers: SC to Centre

    Release funds for MNREGA, pay damages to farmers: SC to Centre   

    A bench comprising Justices M B Lokur and N V Ramana directed the States to appoint commissioners for effective implementation of provisions of National Food Security Act and strengthening of public distribution system especially ...

    13 May 2016, 1.50 pm  |  Source: PTI

  • PM Modi rues RS not passing GST,says states would have benefited

    PM Modi rues RS not passing GST,says states would have benefited  

    The Prime Minister, who spoke in the Upper House as it bid farewell to 53 retiring MPs, noted that Rajya Sabha members are representatives of the states and the interest of their state should be a priority for them.

    13 May 2016, 12.40 pm  |  Source: PTI

  • Keqiang Index shows FY16 growth slowed: Ambit economist

    Keqiang Index shows FY16 growth slowed: Ambit economist   

    This conclusion has drawn on basis of the Regional Keqiang Index (named after a similar China-based index) launched by Ambit, which has been conducting extensive research on ground-level economic indicators across the country, Man...

    13 May 2016, 12.23 pm  |  Source: CNBC-TV18

  • Osmanabad: Help proposals in 76 farmer suicide cases rejected

    Osmanabad: Help proposals in 76 farmer suicide cases rejected  

    During last 16 months, 212 farmers committed suicide in Osmanabad district, which is facing severe water crisis for four consecutive years. Government help was provided to the kin in 120 cases, as per official figures.

    13 May 2016, 12.14 pm  |  Source: PTI

  • Monsoon to hit Kerala early this year: Skymet

    Monsoon to hit Kerala early this year: Skymet  

    The Southwest Monsoon will arrive over Andaman and Nicobar Islands between May 18 and 20.

    13 May 2016, 12.14 pm  |  Source: PTI

  • FSSAI mulls allowing use of ethylene gas for fruits ripening

    FSSAI mulls allowing use of ethylene gas for fruits ripening  

    In a notification, FSSAI said that it has proposed amendment in the regulations of Food Safety and Standards Act, for inclusion of use of ethylene gas for ripening of fruits.

    13 May 2016, 8.04 am  |  Source: PTI

  • Modi reforms flicker in rural India, other big challenges remain

    Modi reforms flicker in rural India, other big challenges remain  

    "The (electricity) supply is erratic but we are happy that there has been a start," said Singh, a 37-year-old father of three, who employs a bullock to work the fields in Rampara Kisana, six hours' drive east of New Delhi.

    13 May 2016, 7.52 am  |  Source: Reuters

  • Cabinet apprised of GFA on energy ties between India, UAE

    Cabinet apprised of GFA on energy ties between India, UAE  

    "The Union Cabinet chaired by Prime Minister Narendra Modi was apprised of a General Framework Agreement (GFA) on Renewable Energy Cooperation between India and United Arab Emirates (UAE)," the Ministry of New and Renewable Energy...

    13 May 2016, 7.34 am  |  Source: PTI

  • Sector-specific provisions needed in GST regime, says report

    Sector-specific provisions needed in GST regime, says report  

    According to the report, the complex and ever-evolving ecosystem of online marketplaces, involving multiple parties and transactions across nations, is giving rise to a plethora of international and India tax and regulatory issues...

    12 May 2016, 9.58 pm  |  Source: PTI

  • APTEL disallows compensatory tariff for Adani Group`s plants

    APTEL disallows compensatory tariff for Adani Group's plants  

    "Since the Maharashtra Electricity Regulatory Commission (MERC) has come to a conclusion that the case of Force Majeure event is not made out, it could not have granted compensatory tariff to Adani Power Maharashtra (which runs Ti...

    12 May 2016, 9.58 pm  |  Source: PTI

  • RBI issues norms for branch offices by foreign entities

    RBI issues norms for branch offices by foreign entities  

    Permission of RBI will also be required for opening a BO/LO/PO in Jammu and Kashmir, North East region and Andaman and Nicobar Islands.

    12 May 2016, 9.58 pm  |  Source: PTI

  • RBI issues norms for voluntary surrender of licence by PSOs

    RBI issues norms for voluntary surrender of licence by PSOs  

    As per the Payment and Settlement Systems Act, 2007 (PSS Act), it is mandatory to seek authorisation from the Reserve Bank to commence or operate a payment system in the country.

    12 May 2016, 9.58 pm  |  Source: PTI

  • Cabinet approves pact between Sebi, FSRA Abu Dhabi

    Cabinet approves pact between Sebi, FSRA Abu Dhabi  

    The Union Cabinet on May 12 approved signing of a pact between markets regulator SEBI and Financial Services Regulatory Authority, Abu Dhabi for mutual co-operation and technical assistance.

    12 May 2016, 8.52 pm  |  Source: PTI

  • Seek clarification on black money scheme by May 25: FinMin

    Seek clarification on black money scheme by May 25: FinMin  

    With the scheme for domestic black money holders to come clean by paying tax and penalty set to become operational from June 1, the Finance Ministry on May 12 asked public to seek clarifications on it by May 25.

    12 May 2016, 8.32 pm  |  Source: PTI

  • IEA sees surge in oil demand from India, emerging nations

    IEA sees surge in oil demand from India, emerging nations  

    Surge in oil demand in India and other emerging nations will lead to reduction in global oil surplus in the first half of 2016, the International Energy Agency (IEA) said on May 12

    12 May 2016, 8.32 pm  |  Source: PTI

  • Railways to invest Rs 80,000 cr in laying track in next 3 yrs

    Railways to invest Rs 80,000 cr in laying track in next 3 yrs  

    Focusing on rail network expansion, Railways will increase the pace of laying new track to 19 km per day from the current 7.8 km which will likely generate Rs 80,000 crore business in the procurement of cement, steel and cable amo...

    12 May 2016, 8.32 pm  |  Source: PTI

  • Bankruptcy Code to give fillip to ease of doing biz: FinMin

    Bankruptcy Code to give fillip to ease of doing biz: FinMin  

    Describing the Bankruptcy Code as comprehensive and systemic reform, the Finance Ministry on May 12 said the new law will give a big boost to ease of doing business in the country by ensuring a quantum leap for the functioning of...

    12 May 2016, 8.32 pm  |  Source: PTI

  • RBI releases proposal on lending limits to large borrowers

    RBI releases proposal on lending limits to large borrowers   

    RBI, on Thursday, released a discussion paper on setting a framework which seeks to limit banks' exposure to borrowers.

    12 May 2016, 8.22 pm  |  Source: CNBC-TV18

  • Services to attract 10% tax under revised DTAA

    Services to attract 10% tax under revised DTAA  

    The amended India-Mauritius tax treaty has inserted a new clause allowing source-based taxation at 10 percent on fees paid for technical and consultancy services.

    12 May 2016, 7.16 pm  |  Source: PTI

  • Parrikar to visit UAE, Oman

    Parrikar to visit UAE, Oman  

    Defence Minister Manohar Parrikar will leave on a five-day visit to UAE and Oman next week as part of India's outreach to the strategically important and energy-rich middle east.

    12 May 2016, 7.16 pm  |  Source: PTI

  • India, China, 3 others sign pact on tax info sharing

    India, China, 3 others sign pact on tax info sharing  

    India and five other nations, including China and Israel, signed a pact on May 12 for automatic exchange of information on tax issues and develop new tools and standards for tackling tax base erosion and evasion.

    12 May 2016, 6.38 pm  |  Source: PTI

  • India committed to Nepal`s development, no aid cut: MEA

    India committed to Nepal's development, no aid cut: MEA  

    Notwithstanding the current chill in bilateral ties, India on May 12 said it was fully committed to Nepal's socio-economic development and there was no reduction in aid extended by it to the Himalayan nation.

    12 May 2016, 6.38 pm  |  Source: PTI

  • EDF to propose deal for 6 nuclear reactors in India by year-end

    EDF to propose deal for 6 nuclear reactors in India by year-end  

    "India has asked us to present a complete technical and economic proposal for six EPRs by the end of this year. We are working hard on this," Xavier Ursat, EDF head of new nuclear, told shareholders at their annual general meeting...

    12 May 2016, 6.19 pm  |  Source: Reuters

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