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Economy

  • India takes steps to ease impact from ban on banknotes

    India takes steps to ease impact from ban on banknotes  

    Prime Minister Narendra Modi shocked the country on November 8 by abolishing 500 and 1,000 rupee notes, which accounted for 86 percent of the cash in circulation. The move was aimed at cracking down on the shadow economy, but has ...

    08 Dec 2016, 12.59 pm  |  Source: Reuters

  • Govt plans projects to overcome land problems for solar power

    Govt plans projects to overcome land problems for solar power  

    "The government has planned to overcome the challenge by launching the schemes like development of solar parks and ultra mega solar power projects, development of solar zones in the country and roof top solar projects," Minister f...

    08 Dec 2016, 12.56 pm  |  Source: PTI

  • First Demonetisation Committee meet to focus on digital payments

    First Demonetisation Committee meet to focus on digital payments   

    The committee, headed by Andhra Pradesh Chief Minister Chandrababu Naidu comprises of other Chief ministers, NITI Aayog Chief Amitabh Kant and banking experts like Arundhati Bhattacharya. RBI Governor Urjit Patel will be presiding...

    08 Dec 2016, 12.55 pm  |  Source: CNBC-TV18

  • Govt to waive service tax on card transactions up to Rs 2,000

    Govt to waive service tax on card transactions up to Rs 2,000  

    The government has decided to "exempt services by an acquiring bank to any person in relation to settlement of an amount up to Rs 2,000 in a single transaction transacted trough credit, debit card or other payment card service", s...

    08 Dec 2016, 12.22 pm  |  Source: PTI

  • India scraps import duty on wheat: Government source

    India scraps import duty on wheat: Government source  

    Private importers have purchased about 500,000 tonnes of wheat, largely from Australia, in the past month.

    08 Dec 2016, 12.17 pm  |  Source: Reuters

  • Growth hit may be little more than RBI`s estimate: Nomura

    Growth hit may be little more than RBI's estimate: Nomura   

    Sonal Varma of Nomura and Ravikant Bhat of IDBI Capital believe that RBI's move to keep key rates unchanged was fair given that it did not see inflation going down at the moment.

    08 Dec 2016, 9.35 am  |  Source: CNBC-TV18

  • India in talks with Russia to swap natural gas with China

    India in talks with Russia to swap natural gas with China  

    The two nations had in October signed an initial pact for building a 4,500 km to 6,000 km long pipeline from Siberia to the world's third biggest energy consuming nation.

    08 Dec 2016, 9.00 am  |  Source: PTI

  • Pulses import at 27.48 lakh tonnes in April-October

    Pulses import at 27.48 lakh tonnes in April-October  

    Total imports of pulses by private sector and the government agencies stood at 27,48,473 tonnes, Minister of State for Food and Consumer Affairs C R Chaudhary said in a written reply to the Lok Sabha.

    08 Dec 2016, 9.00 am  |  Source: PTI

  • Demonetisation to boost growth in long run; pain transitory:FM

    Demonetisation to boost growth in long run; pain transitory:FM  

    Addressing domestic and global investors in the petrochemical industry, he said that Indian economy in the long term is headed for a "very major major change" and policy makers in India do not shy away even from taking a very diff...

    08 Dec 2016, 8.58 am  |  Source: PTI

  • Farm income can`t be `escape route` for black money: Par panel

    Farm income can't be 'escape route' for black money: Par panel  

    It said farm income should not become an escape route for unaccounted money holders in the wake of recent demonetisation action on old Rs 500/1,000 notes as well as changes in tax laws, and government need to be vigilant to curb s...

    08 Dec 2016, 7.52 am  |  Source: PTI

  • Cabinet gives approval for phase I of Pune Metro project

    Cabinet gives approval for phase I of Pune Metro project  

    It comprises two corridors -- Pimpri Chinchwad Municipal Corporation (PCMC)- Swargate covering length of 16.589 km and Vanaz to Ramwadi with a length of 14.665 km.

    08 Dec 2016, 7.52 am  |  Source: PTI

  • Remove doubts about GDP data, follow global norms: Par panel

    Remove doubts about GDP data, follow global norms: Par panel  

    The Committee found that the latest GDP data released by the Central Statistical Office (CSO) had raised more questions than providing answers and inputs on the momentum of economic activities across the country, it added.

    08 Dec 2016, 7.52 am  |  Source: PTI

  • NITI Aayog`s mandate must be defined clearly:Parliamentary panel

    NITI Aayog's mandate must be defined clearly:Parliamentary panel  

    The Committee had observed that role and responsibilities of the erstwhile Planning Commission, wherever found relevant and useful, could be gainfully institutionalised with greater result orientation.

    08 Dec 2016, 7.52 am  |  Source: PTI

  • Indo-China border trade to resume from May 1

    Indo-China border trade to resume from May 1  

    A formal closing function was held at Nathula Pass attended by officials from the Department of Commerce and Industries, officials from Central agencies such as Indian Customs, ITBP and Immigration and stake-holders.

    08 Dec 2016, 7.52 am  |  Source: PTI

  • Farmers dump tonnes of tomatoes on road in Chhattisgarh

    Farmers dump tonnes of tomatoes on road in Chhattisgarh  

    The farmers alleged the "syndicate" of local middlemen and traders was not ready to purchase tomatoes even at 50 paise per kg.

    07 Dec 2016, 9.52 pm  |  Source: PTI

  • Seeing considerable decrease in Jan Dhan deposits: CBDT

    Seeing considerable decrease in Jan Dhan deposits: CBDT   

    The CBDT on Wednesday released some numbers on the deposits made into such accounts stating that average per account Jan Dhan deposit stood at Rs 13,113 between November 8 and December 2.

    07 Dec 2016, 9.36 pm  |  Source: CNBC-TV18

  • GST jurisdiction a difficult issue, hopeful of Apr roll-out: FM

    GST jurisdiction a difficult issue, hopeful of Apr roll-out: FM  

    Pinning hopes on quick resolution of the "difficult issue" of tax jurisdiction with states, Finance Minister Arun Jaitley today said that Goods and Services Tax regime will be rolled out from April next year.

    07 Dec 2016, 8.54 pm  |  Source: PTI

  • 3.6 cr farmers take insurance cover of Rs 1.41 lakh cr so far

    3.6 cr farmers take insurance cover of Rs 1.41 lakh cr so far  

    About 3.6 crore farmers have taken the crop insurance policy for a sum insured of Rs 1.41 lakh crore so far in 2016-17 crop year, the government said today and expressed confidence that it would meet the target of 30 per cent cove...

    07 Dec 2016, 8.54 pm  |  Source: PTI

  • Note ban has no automatic impact on RBI balance sheet: Patel

    Note ban has no automatic impact on RBI balance sheet: Patel  

    Reserve Bank Governor Urjit Patel today said it would not have any automatic impact on the central bank's balance sheet, putting credence to the view of many analysts that government may not make any windfall from the demonetisat...

    07 Dec 2016, 8.54 pm  |  Source: PTI

  • Note ban impact on GDP growth only 15 bps, says RBI

    Note ban impact on GDP growth only 15 bps, says RBI  

    The Reserve Bank attributed the 50-bps lowering in its GVA growth estimate to 7.1 per cent this fiscal year to the lower-than-expected expansion in the second quarter and not to demonetisation that has hurt consumption activit...

    07 Dec 2016, 8.54 pm  |  Source: PTI

  • Status Quo Policy: Withdrawal limit restriction may go beyond Dec, say experts

    Status Quo Policy: Withdrawal limit restriction may go beyond Dec, say experts   

    Both V Srinivasan of Axis Bank and Ashish Parthasarthy of HDFC Bank agree that the withdrawal limit could extend beyond December 30 because the limit depends on the availability of currency.

    07 Dec 2016, 8.32 pm  |  Source: CNBC-TV18

  • Realtors disappointed with RBI`s status quo on rates

    Realtors disappointed with RBI's status quo on rates  

    Property developers and consultants today expressed disappointment over the RBI decision to keep key policy rates unchanged and said the reduction in interest rates would have given a boost to sluggish housing sales.

    07 Dec 2016, 7.48 pm  |  Source: PTI

  • Demonetisation has brought `Janshakti` into prominence: Modi

    Demonetisation has brought 'Janshakti' into prominence: Modi  

    Asserting that the people have supported demonetisation, Prime Minister Narendra Modi today said his government has brought 'Janshakti' (people's power) into prominence with the decision and flayed the opposition, saying it go...

    07 Dec 2016, 7.18 pm  |  Source: PTI

  • RBI decision to keep rate unchanged bold & brilliant: Finmin

    RBI decision to keep rate unchanged bold & brilliant: Finmin  

    Describing RBI's decision to maintain status quo as "bold and brilliant", Finance Ministry today said rate cut in times of global uncertainty would have prompted overseas investors to withdraw their investments.

    07 Dec 2016, 7.18 pm  |  Source: PTI

  • States utilise only 21% of Rs 28454 cr construction cess: Govt

    States utilise only 21% of Rs 28454 cr construction cess: Govt  

    States have been able to utilise only 21 per cent of the Rs 28,454.62 crore Building and Other Construction Workers' Welfare Cess, Parliament was informed today.

    07 Dec 2016, 7.18 pm  |  Source: PTI

  • Upcoming Budget to focus on housing, job creation: Lavasa

    Upcoming Budget to focus on housing, job creation: Lavasa   

    In an exclusive interview to CNBC-TV18, Ashok Lavasa listed his views on various economic events, ranging from demonetisation to the governments divestment drive.

    07 Dec 2016, 7.13 pm  |  Source: CNBC-TV18

  • Note ban a short term disruptor but game changing move: D Parekh

    Note ban a short term disruptor but game changing move: D Parekh   

    Parekh is now betting on Union Budget to revive the consumption story. He said that these are difficult times and expects the Finance Ministry to introduce sops for industry as well for the individuals.

    07 Dec 2016, 7.01 pm  |  Source: CNBC-TV18

  • RBI stands pat in interest of financial stability: Rupa Nitsure

    RBI stands pat in interest of financial stability: Rupa Nitsure  

    The RBI stayed prudent in its monetary policy review today rather than move in a haste as it wishes to wait for more information and experience before judging the full effect and persistence of the demonetisation move.

    07 Dec 2016, 6.52 pm  |  Source: Moneycontrol.com

  • Favourable inflation base effect to disappear: Arun Singh

    Favourable inflation base effect to disappear: Arun Singh  

    Even as retail inflation has eased driven by a sharper than anticipated moderation in the prices of vegetables and strong favourable base effect, it masks some upturn in the prices of several items; prices of wheat, gram and sugar...

    07 Dec 2016, 6.23 pm  |  Source: Moneycontrol.com

  • Demonetisation effect: Money supply growth may decline by 3%

    Demonetisation effect: Money supply growth may decline by 3%  

    The average growth of money supply in the economy may slip to 9 percent from 12 percent in the near term, if 25-30 percent of unaccounted currency does not flow back into the banking system post demonetisation move, Dun & Bradstre...

    07 Dec 2016, 6.10 pm  |  Source: PTI

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