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Economy

  • IDS gets Rs 67,382 cr, over Rs 2K cr higher than estimate

    IDS gets Rs 67,382 cr, over Rs 2K cr higher than estimate  

    The Finance Ministry today revised upwards black money disclosed under Income Declaration Scheme (IDS) to Rs 67,382 crore, which will fetch the government a little over Rs 30,000 crore in direct tax revenue even as it did not take...

    04 Dec 2016, 5.40 pm  |  Source: PTI

  • I-T dept detects undisclosed Rs 1.64 cr in Jan Dhan accounts

    I-T dept detects undisclosed Rs 1.64 cr in Jan Dhan accounts  

    The Income Tax department has found "various inconsistencies" in cash deposits in Jan Dhan accounts and detected about Rs 1.64 crore deposited by persons who have never filed returns as their income shown is below the taxable limi...

    04 Dec 2016, 4.20 pm  |  Source: PTI

  • Need clear tax laws to prevent black money creation: NITI Chief

    Need clear tax laws to prevent black money creation: NITI Chief  

    Terming taxation laws in the country as "ill-defined", Niti Aayog vice-chairman Arvind Panagariya today called for removing ambiguities in them so as to do away with "discretion of the tax officer".

    04 Dec 2016, 4.20 pm  |  Source: PTI

  • Jan Dhan deposits stabilise; get Rs 1,487 cr in 7 days

    Jan Dhan deposits stabilise; get Rs 1,487 cr in 7 days  

    The big surge in deposits into Jan Dhan accounts after the demonetisation seems to be stabilising now as just Rs 1,487 crore has been parked in them over 7 days to November 30, as against Rs 8,283 crore in the previous week.

    04 Dec 2016, 2.58 pm  |  Source: PTI

  • India takes pride of place, crosses $300 bn FDI milestone

    India takes pride of place, crosses $300 bn FDI milestone  

    India crossed the USD 300 billion foreign direct investment (FDI) milestone between April 2000 and September 2016, firmly establishing its credentials as a safe investment destination in the world.

    04 Dec 2016, 1.22 pm  |  Source: PTI

  • Infra bottlenecks put investors in wait and watch mode

    Infra bottlenecks put investors in wait and watch mode  

    Even as the government is going all-out to attract FDI in the infrastructure space, foreign investors are adopting a wait and watch approach, BMI Research said in a report.

    04 Dec 2016, 1.22 pm  |  Source: PTI

  • Demonetisation: Mixed impact on leisure travel

    Demonetisation: Mixed impact on leisure travel  

    Demonetisation of Rs 1,000 and Rs 500 notes by the Centre has had a mixed impact on leisure travel to foreign countries.

    04 Dec 2016, 12.12 pm  |  Source: PTI

  • Note ban likely to generate heat in Maharashtra winter session

    Note ban likely to generate heat in Maharashtra winter session  

    Buoyed by the party's success in local body polls, the BJP-led government will enter the Winter session of Maharashtra Assembly with confidence but the opposition will seek to put it on mat over key issues like the problems being ...

    04 Dec 2016, 12.12 pm  |  Source: PTI

  • Rail projects worth over Rs 60,000 cr with state participation

    Rail projects worth over Rs 60,000 cr with state participation  

    As many as 16 states have responded till now to Railways' offer of sharing cost of about 40 projects worth over Rs 60,000 crore for speed implementation of laying new lines and development of stations among others.

    04 Dec 2016, 11.16 am  |  Source: PTI

  • Demonetisation will push GDP growth to 10%: Meghwal

    Demonetisation will push GDP growth to 10%: Meghwal  

    Demonetisation will lead to a spurt in economic activity, which will in turn push GDP growth to 10 per cent, Union minister Arjun Ram Meghwal has said.

    04 Dec 2016, 11.16 am  |  Source: PTI

  • Centre, states to list industries for cashless wage payment

    Centre, states to list industries for cashless wage payment  

    Aiming to move towards a cashless India, the Centre and states could soon have powers to specify categories of employers who will have to pay wages either through cheques or by crediting the amount directly into the workers' bank ...

    04 Dec 2016, 11.16 am  |  Source: PTI

  • Govt unlikely to implement DBT in kerosene

    Govt unlikely to implement DBT in kerosene  

    Unlike LPG, the government may not push for the implementation of DBT in kerosene as the benefit on the fuel will prove to be a "dying subsidy" thanks to small doses of monthly rate hikes bridging price gap with market.

    04 Dec 2016, 11.16 am  |  Source: PTI

  • Govt must up public expenditure to push consumption: Assocham

    Govt must up public expenditure to push consumption: Assocham  

    Arguing that private consumption will take a "significant hit" at least in the next two quarters following demonetisation, Assocham today said the government should jack up its public expenditure in 2016-17.

    04 Dec 2016, 11.16 am  |  Source: PTI

  • Depositing black money in banks will not make it white: FM

    Depositing black money in banks will not make it white: FM  

    "By just depositing it (unaccounted money), you don't avoid the responsibility of paying tax," he said when asked about surge in deposits in banks following withdrawal of high denomination currency notes.

    03 Dec 2016, 7.00 pm  |  Source: PTI

  • Centre-state discord on GST dual control worries India Inc: KPMG

    Centre-state discord on GST dual control worries India Inc: KPMG   

    The impasse is a matter of concern for the corporates, who feel it may destabilise the economy and hurt business, said Sachin Menon, Head Of Indirect Tax, KPMG.

    03 Dec 2016, 6.47 pm  |  Source: CNBC-TV18

  • Petrol pumps get into digital overdrive, play up wallets

    Petrol pumps get into digital overdrive, play up wallets  

    Over 4,800 petrol pumps across the country are dispensing Rs 2,000 per card a day through POS machine swipes and have dispensed Rs 65 crore in the past two weeks.

    03 Dec 2016, 6.10 pm  |  Source: PTI

  • Go digital, even beggar using swipe machine: PM

    Go digital, even beggar using swipe machine: PM  

    "I don't know how far it is true but there is a video going viral on Whatsapp of a beggar being told by a man that though he wanted to help, he does not have change," Modi told BJP's Parivartan Rally here.

    03 Dec 2016, 6.10 pm  |  Source: PTI

  • Deadlock on GST dual control continues; fingers crossed: Jaitley

    Deadlock on GST dual control continues; fingers crossed: Jaitley   

    Consensus on dual control eluded the second day of the GST Council meeting as states and the Centre failed to stitch together a deal. The Council, headed by Finance Minister Arun Jaitley, will now meet on December 11 and 12 to try...

    03 Dec 2016, 5.16 pm  |  Source: Moneycontrol.com

  • Watch: Why your grocery has not become cheaper yet?

    Watch: Why your grocery has not become cheaper yet?   

    Demonetisation has hit the vegetable market hard - right from the farmer to the wholesaler and eventually the vegetable vendor. But why has the rate you are paying for your groceries not fallen? Watch what Meghnad Bose discovered ...

    03 Dec 2016, 3.35 pm  |  Source: CNBC-TV18

  • Political funding audits key to success of demonetisation: Pros

    Political funding audits key to success of demonetisation: Pros   

    The political parties must be open to audits, believe both Govinda Rao, former member, PMEA and Ashok Lahiri, former chief economic advisor.

    03 Dec 2016, 10.40 am  |  Source: CNBC-TV18

  • Consensus eludes GST Council meet; no breakthrough on Day 1

    Consensus eludes GST Council meet; no breakthrough on Day 1   

    The fifth meeting of goods and services tax (GST) saw no breakthrough as the dual control impasse continued. In tomorrow's eight hour long meet too the dual control hitch will be discussed in the hope of coming to a consensus.

    02 Dec 2016, 9.00 pm  |  Source: CNBC-TV18

  • Note ban `highly disruptive`; not to change behaviour: Krugman

    Note ban 'highly disruptive'; not to change behaviour: Krugman  

    Criticising demonetisation of Rs 500 and Rs 1000 notes, Nobel laureate Paul Krugman today said it is "highly disruptive" and will not change behaviour of people who would become more careful and sophisticated in money launderi...

    02 Dec 2016, 8.14 pm  |  Source: PTI

  • Rise in crude price to hike petrol, diesel prices: Oil Min

    Rise in crude price to hike petrol, diesel prices: Oil Min   

    In conversation with CNBC-TV18, Oil Minister Dharmendra Pradhan said that the consumer market will be affected with the rise in crude prices.

    02 Dec 2016, 6.23 pm  |  Source: CNBC-TV18

  • India Ratings lowers GDP forecast to 6.8% post demonetisation

    India Ratings lowers GDP forecast to 6.8% post demonetisation  

    India Ratings today lowered its GDP forecast for 2016-17 to 6.8 per cent from 7.8 per cent earlier, stating that the demonetisation drive will lead to an erosion of Rs 1.5 trillion this fiscal.

    02 Dec 2016, 6.12 pm  |  Source: PTI

  • Govt not to raise import duty further on steel products

    Govt not to raise import duty further on steel products  

    The government has received representations from the steel industry to increase the import duty, he said.

    02 Dec 2016, 3.52 pm  |  Source: PTI

  • Banks with currency chest need to boost supply for crop: RBI

    Banks with currency chest need to boost supply for crop: RBI  

    To ensure adequate allocation of banknotes is made for rural branches, post offices and DCCBs, banks are advised to involve the district co-ordinators (Lead District Managers) functioning under State Level Bankers' Committee (SLBC...

    02 Dec 2016, 3.32 pm  |  Source: PTI

  • India raises market stabilisation bond issuance limit: RBI

    India raises market stabilisation bond issuance limit: RBI  

    The government, with advice from the central bank, has taken the action as the country's ban on 500 and 1,000 rupee notes had created "a significant increase of liquidity" that was "expected to continue for some time," the Reserve...

    02 Dec 2016, 3.30 pm  |  Source: Reuters

  • `Early Budget to accelerate implementation of public projects`

    'Early Budget to accelerate implementation of public projects'  

    A proposal was made for advancing the date of budget presentation from the last working day of February to February 1, 2017 or any other date as may be necessary, Minister of State for Finance Arjun Ram Meghwal said in a written r...

    02 Dec 2016, 3.26 pm  |  Source: PTI

  • Move to cashless society to be driven by feature phones: Hota

    Move to cashless society to be driven by feature phones: Hota  

    NPCI is trying to promote the USSD, or *99# service — which can be accessed without internet connectivity on both feature phones as well as smartphones — more aggressively than the United Payment Interface, which can be access...

    02 Dec 2016, 3.18 pm  |  Source: Moneycontrol.com

  • RBI places order to print currency as per requirement: Govt

    RBI places order to print currency as per requirement: Govt  

    Replying to questions in Lok Sabha, Minister of State for Finance Arjun Ram Meghwal said the new series of bank notes have been introduced with effect from November 10 after the cancellation of legal tender character of the old hi...

    02 Dec 2016, 3.18 pm  |  Source: PTI

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