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Economy

  • India seeks $2.2 bn to build 2nd phase of strategic oil reserves

    India seeks $2.2 bn to build 2nd phase of strategic oil reserves  

    Strategic storage reserves are underground rock caverns used to store crude oil that can be used in case of a supply cut-off to a country.

    04 Feb 2016, 2.24 pm  |  Source: Reuters

  • FinMin receives 70 applications for NIIF CEO post

    FinMin receives 70 applications for NIIF CEO post  

    The government in December had set up the Rs 40,000 crore National Investment and Infrastructure fund (NIIF), which is an investment vehicle for funding commercially viable greenfield, brownfield and stalled projects.

    04 Feb 2016, 2.12 pm  |  Source: PTI

  • Jaitley woos sovereign funds to invest in infra, railways

    Jaitley woos sovereign funds to invest in infra, railways  

    Opening the two-day India Investment Summit 2016 here, the minister highlighted opportunities the country presents to investors and sought investment in sectors like road, highways, oil&gas, urban infrastructure and railways.

    04 Feb 2016, 1.00 pm  |  Source: PTI

  • La Niña may bring plenty rains, stock opportunities this year

    La Niña may bring plenty rains, stock opportunities this year  

    Credit Suisse looked at previous cycles, and as expected, many companies with linkages to the rural economy do well during La Niña periods.

    04 Feb 2016, 12.53 pm  |  Source: Moneycontrol.com

  • GST will become a reality soon, says Jaitley

    GST will become a reality soon, says Jaitley   

    GST, which will subsume all indirect taxes such as excise duty, service tax and sales tax into one uniform rate, is stalled in the Rajya Sabha as the Congress is pressing for three changes.

    04 Feb 2016, 12.43 pm  |  Source: PTI

  • Budget Session from Feb 23 to May 13, Union Budget on Feb 29

    Budget Session from Feb 23 to May 13, Union Budget on Feb 29  

    Union Finance Minister Arun Jaitley is likely to present the Budget on February 29, while the Rail Budget will be presented on February 25. The Economic Survey will be tabled on February 26.

    04 Feb 2016, 12.42 pm  |  Source: IBNLive.com

  • India`s debt position remains comfortable, says Jaitley

    India's debt position remains comfortable, says Jaitley  

    "Conventional indicators of debt sustainability, i.e. level and cost of debt, indicate that debt profile of the government is comfortably placed in terms of sustainability parameters of public debt and is consistently improving,...

    04 Feb 2016, 9.05 am  |  Source: PTI

  • Telcos paid Rs 6 crore penalty to Trai in a year

    Telcos paid Rs 6 crore penalty to Trai in a year  

    "Approximately a total amount of Rs 4,14,75,000 has been received so far. For the show-cause notices issued relating to Unsolicited Commercial Communications, Rs 1,78,35,500 received," Telecom Regulatory Authority of India (Trai) ...

    04 Feb 2016, 7.58 am  |  Source: PTI

  • Rs 37,052-crore BMC Budget presented; focus on health, infra

    Rs 37,052-crore BMC Budget presented; focus on health, infra  

    BrihanMumbai Municipal Corporation (BMC), India's richest civic body which will go to polls in early 2017, had a Budget size of Rs 33,519.15 crore in 2015-16. Civic Commissioner Ajoy Mehta tabled the Budget for the upcoming financ...

    04 Feb 2016, 7.52 am  |  Source: PTI

  • Indian household inflation expectation remains above 10%: RBI

    Indian household inflation expectation remains above 10%: RBI   

    Households expected consumer price inflation at 10.3 percent over the period from January to March this year, according to the survey conducted in December and published on Wednesday. It was 10.5 percent in the September survey.

    04 Feb 2016, 7.45 am  |  Source: Reuters

  • OROP, 7th Pay to be factored in FY17 fisc target: Jayant Sinha

    OROP, 7th Pay to be factored in FY17 fisc target: Jayant Sinha   

    On what the government hopes to achieve through the India investment summit and the National Investment & Infrastructure Fund (NIIF), Jayant Sinha, minister of state for finance said, it aims to attract the biggest global pension ...

    03 Feb 2016, 9.11 pm  |  Source: CNBC-TV18

  • `Liquidity deficit concerning, RBI needs to be proactive`

    'Liquidity deficit concerning, RBI needs to be proactive'  

    After the announcement of the bi-monthly monetary policy yesterday, Governor Raghuram Rajan had refuted notions of liquidity being under pressure.

    03 Feb 2016, 8.24 pm  |  Source: PTI

  • South India`s transmission capacity to be 18K MW by FY20: Goyal

    South India's transmission capacity to be 18K MW by FY20: Goyal  

    The minister expressed hope that with this massive flow of power to south India, government will be able to make the country "one grid one nation" which will keep the power cost under control. Under the 'One Grid One Nation' polic...

    03 Feb 2016, 8.00 pm  |  Source: PTI

  • `Corporate real estate occupiers bullish on expanding offices`

    'Corporate real estate occupiers bullish on expanding offices'  

    According to the survey, respondents across major industry sectors remained bullish on their India expansion plan and are also likely to increase their headcount by 5-20 percent in the next two years.

    03 Feb 2016, 7.59 pm  |  Source: PTI

  • Blue Star seeks CENVAT exemption for ACs in Budget

    Blue Star seeks CENVAT exemption for ACs in Budget  

    "It is in the interest of the government to exempt tax because with more people buying inverter and 5 star ACs, power requirement will go down and so will pollution," Blue Star Executive Director B Thiagarajan told reporters here....

    03 Feb 2016, 6.42 pm  |  Source: PTI

  • PM to inaugurate Rs 10,000 cr gas cracker project in Assam

    PM to inaugurate Rs 10,000 cr gas cracker project in Assam  

    This is the first ever petrochemical project in entire North East India and was a part of the historic Assam Accord signed on 15th August, 1985 to promote overall socio-economic development of the region.

    03 Feb 2016, 6.39 pm  |  Source: PTI

  • Jalan panel on expenditure mgmt to submit report this month

    Jalan panel on expenditure mgmt to submit report this month  

    The government had set up the Commission under former RBI Governor Bimal Jalan in August 2013 to suggest steps to reduce subsidies on food, fertiliser and oil and narrow the fiscal deficit.

    03 Feb 2016, 6.39 pm  |  Source: PTI

  • Agri Min in talks with Jaitley on inter-state taxes

    Agri Min in talks with Jaitley on inter-state taxes  

    "We are speeding up the work for setting up an online agriculture market. There are concerns related to inter-state taxes and levies. We are discussing with the Finance Minister on these issues," Agriculture Minister Radha Mohan S...

    03 Feb 2016, 6.39 pm  |  Source: PTI

  • Finmin to refund Swachh Bharat cess paid by SEZs

    Finmin to refund Swachh Bharat cess paid by SEZs  

    Government had imposed 0.5 percent Swachh Bharat cess on taxable services from November 15, 2015. With the imposition of the cess, service tax rate has gone up from 14 percent to 14.5 percent.

    03 Feb 2016, 4.19 pm  |  Source: PTI

  • Cabinet approves formation of JV with states for rail projects

    Cabinet approves formation of JV with states for rail projects  

    Keeping in mind the growing demands for railway lines in various states and huge requirement of funds to execute them, JV companies will be now responsible for identifying projects, land acquisition and possible financing in addit...

    03 Feb 2016, 3.10 pm  |  Source: PTI

  • India`s economy on much higher, stabler footing: Jaitley

    India's economy on much higher, stabler footing: Jaitley   

    Jaitley said that India is "relatively unimpacted" by some of the factors that have caused the global crisis.

    03 Feb 2016, 3.10 pm  |  Source: PTI

  • Video: What Guv Rajan wants to see before cutting rates again

    Video: What Guv Rajan wants to see before cutting rates again   

    In an interview with CNBC Awaaz's Pradeep Pandya, Reserve Bank of India Governor Raghuram Rajan outlined what conditions will have to come through before he cuts interest rates again.

    03 Feb 2016, 2.57 pm  |  Source: CNBC-TV18

  • Coal linkages to cement, steel sectors via auction: Cabinet

    Coal linkages to cement, steel sectors via auction: Cabinet  

    "Cabinet Committee on Economic Affairs has approved allocation of coal linkages for non-regulated sector only through auction," Power and Coal Minister Piyush Goyal told the media after the CCEA meeting.

    03 Feb 2016, 2.41 pm  |  Source: PTI

  • Not looking to reduce risk-taking appetite in economy: Rajan

    Not looking to reduce risk-taking appetite in economy: Rajan  

    The central bank has been urging banks to proactively clean up their balance sheets, including accounting for potential stressed assets. Rajan said this exercise is intended to put key stalled projects back on track and was not me...

    03 Feb 2016, 2.29 pm  |  Source: Reuters

  • Govt to infuse about Rs 5,000 cr in PSU banks this quarter

    Govt to infuse about Rs 5,000 cr in PSU banks this quarter  

    "As committed, banks will get fund infusion in the fourth quarter. Banks will get about Rs 5,000 crore," Financial Services Secretary Ajuly Chib Duggal said on the sidelines of an event here.

    03 Feb 2016, 1.28 pm  |  Source: PTI

  • Growth in India`s services activity at 19-month high in Jan: PMI

    Growth in India's services activity at 19-month high in Jan: PMI  

    The Nikkei/Markit Services Purchasing Managers' Index rose to 54.3 in January from 53.6 in December, the seventh straight month above the 50-level that distinguishes growth from contraction.

    03 Feb 2016, 11.05 am  |  Source: Reuters

  • March 2017 deadline for balancesheet clean-up is fair: Rajan

    March 2017 deadline for balancesheet clean-up is fair: Rajan  

    "There is a process by which we hope to clean up bank balancesheets. Clean up... for potential losses by March 2017. We think that's a fair span of time by which one can hope this is largely done," he told reporters from wire agen...

    03 Feb 2016, 7.52 am  |  Source: PTI

  • Over Rs 93,600 cr sanctioned under MUDRA Yojana: Sinha

    Over Rs 93,600 cr sanctioned under MUDRA Yojana: Sinha  

    The scheme was launched by Prime Minister Narendra Modi in April last year. Three products available under the PMMY are Shishu, Kishor and Tarun, to signify the stage of growth and funding needs of the beneficiary micro unit or en...

    02 Feb 2016, 10.19 pm  |  Source: PTI

  • The MGNREGA decade: Hits, misses & road ahead

    The MGNREGA decade: Hits, misses & road ahead   

    As NREGA completes 10 years, a longer lifespan than most rural development schemes, Nikhil Dey, Co-Convenor, National Campaign for People's Right to Information (NCPRI) answers some of the key questions related to it.

    02 Feb 2016, 9.15 pm  |  Source: CNBC-TV18

  • Mineral exploration: Govt to give share in royalty to firms

    Mineral exploration: Govt to give share in royalty to firms  

    "It is a win-win deal. Government handled the challenge, under the MMDR Act of formulating mineral exploration policy that not only gives incentives to private sector, but also increases mineral exploration in the country," Mines ...

    02 Feb 2016, 9.06 pm  |  Source: PTI

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