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Economy

  • Stressed assets level rises to 12% for system as of Q1: Mundra

    Stressed assets level rises to 12% for system as of Q1: Mundra  

    "The level of stressed advances which include NPAs and restructured assets for the industry, it is around 12 percent but for the public sector banks, it is around 15.4 percent as of June 2016," Mundra said at a banking event.

    24 Aug 2016, 4.02 pm  |  Source: PTI

  • GST rate on processed foods should be low or zero: CII

    GST rate on processed foods should be low or zero: CII  

    There should be a parity in taxes between processed and unprocessed food products, otherwise the very benefit of processed foods will not reach the consumers because of the price difference, it said.

    24 Aug 2016, 3.52 pm  |  Source: PTI

  • Cabinet approves Rs 21,000 cr line expansion programme

    Cabinet approves Rs 21,000 cr line expansion programme  

    The Union Cabinet approved the massive line expansion programme that includes nine projects of track construction for a total length of 1937.38 km at an estimated cost of Rs 20867.24 crore, said a senior Railway Ministry official.

    24 Aug 2016, 3.44 pm  |  Source: PTI

  • GST, Brexit to have an inflationary impact on TGBL: Cyrus Mistry

    GST, Brexit to have an inflationary impact on TGBL: Cyrus Mistry  

    When GST will be implemented, "there would be an inflationary impact on tea (business)," Mistry, also the Chairman of Tata Group, said in a reply to shareholders at the company's AGM here.

    24 Aug 2016, 3.44 pm  |  Source: PTI

  • Cabinet clears revised India-Cyprus tax treaty

    Cabinet clears revised India-Cyprus tax treaty   

    The government on Wednesday cleared the revised double taxation avoidance agreement (DTAA) with Cyprus which will allow India to tax capital gains from April 1, 2017, reports CNBC-TV18’s Sapna Das. Under the terms of the revised...

    24 Aug 2016, 2.35 pm  |  Source: CNBC-TV18

  • Govt allows cancellation of 4 SEZ projects

    Govt allows cancellation of 4 SEZ projects  

    The decision regarding this was taken in a meeting of the Board of Approval (BoA) on August 12, which was chaired by Commerce Secretary Rita Teaotia.

    24 Aug 2016, 2.30 pm  |  Source: PTI

  • Suresh Prabhu commissions new rail line in Andhra Pradesh

    Suresh Prabhu commissions new rail line in Andhra Pradesh  

    They inaugurated the facilities through a remote video link from Vijayawada in the presence of Union I&B and Urban Development Minister M Venkaiah Naidu, state ministers, MPs and senior railway officials.

    24 Aug 2016, 11.46 am  |  Source: PTI

  • See 7.9% GDP growth; consumption to cushion capex slack:Goldman

    See 7.9% GDP growth; consumption to cushion capex slack:Goldman   

    The full year growth will be benefited by a good monsoon, recently introduced 7th Pay Commission, clearance of key reforms, favorable fiscal monetary policy and continuation of foreign direct investment (FDI) inflows, says Goldman...

    24 Aug 2016, 10.31 am  |  Source: Moneycontrol.com

  • Special session of Goa Assembly to ratify GST on August 31

    Special session of Goa Assembly to ratify GST on August 31  

    "The state cabinet has already granted its nod to the GST. We will summon one-day special session on August 31 to ratify the Bill which is already passed in Parliament," Chief Minister Laxmikant Parsekar told reporters here yester...

    24 Aug 2016, 10.04 am  |  Source: PTI

  • TN Commercial Taxes dept collects Rs 62,000cr revenue in 2015-16

    TN Commercial Taxes dept collects Rs 62,000cr revenue in 2015-16  

    Veeramani said though global crude prices had fallen over the past two years, the Centre had "increased many times" the excise duty on petroleum fuel.

    24 Aug 2016, 9.36 am  |  Source: PTI

  • Odisha targets seafood exports worth Rs 3,000 cr in FY`17

    Odisha targets seafood exports worth Rs 3,000 cr in FY'17  

    Sethi added that the state had exported seafood worth Rs 4,794.72 crore in the last three years and the products have a great demand in South-East Asia, the US, Europe and Japan.

    24 Aug 2016, 9.36 am  |  Source: PTI

  • DIPP to suggest states to frame own IPR policy

    DIPP to suggest states to frame own IPR policy  

    The ministry convened an interactive session with industry associations on the National IPR Policy.

    24 Aug 2016, 9.16 am  |  Source: PTI

  • Working to develop framework for solarising agri-pumps: Goyal

    Working to develop framework for solarising agri-pumps: Goyal  

    It has already embarked on a plan to provide energy efficient agriculture pumps to farmers and has launched National Energy Efficient Agriculture Pumps Programme in this regard.

    24 Aug 2016, 9.14 am  |  Source: PTI

  • FIPB clears seven FDI proposals worth Rs 290 cr

    FIPB clears seven FDI proposals worth Rs 290 cr  

    Tikona Digital Networks' Rs 267-crore proposal to increase foreign equity to 76.73 percent through issuance of CCDs was approved by the government.

    24 Aug 2016, 9.12 am  |  Source: PTI

  • 7 proposals for acquisition of clean tech cleared: DIPP

    7 proposals for acquisition of clean tech cleared: DIPP  

    "A total of seven proposals, under the categories of acquisition technology, clean technology in manufacturing and solid waste management, were considered and approved by the GMAC under the scheme. These efforts will foster innova...

    24 Aug 2016, 9.12 am  |  Source: PTI

  • Cabinet likely to discuss India-Fiji air service pact on Aug 24

    Cabinet likely to discuss India-Fiji air service pact on Aug 24  

    Besides, the proposal for leasing out around 4,050 square metres of land owned by AAI to set up a centre for perishable cargo at Guwahati airport is expected to be discussed, sources said.

    24 Aug 2016, 8.46 am  |  Source: PTI

  • WBSEDCL gets nod to raise power tariff by 23 paise

    WBSEDCL gets nod to raise power tariff by 23 paise  

    State Power Minister Shobhondeb Chatterjee had earlier said Chief Minister Mamata Banerjee does not want to put burden on the poor and thus there will be no impact for consumers up to 300 units in the state.

    24 Aug 2016, 7.40 am  |  Source: PTI

  • Banks yet to fully reach unorganised rural sector: President

    Banks yet to fully reach unorganised rural sector: President  

    President Pranab Mukherjee today said that despite 46 years of bank nationalisation, institutional credit is yet to reach the unorganised rural sector fully.

    23 Aug 2016, 10.34 pm  |  Source: PTI

  • Maha first state to sign RCS plan, to develop 10 small airports

    Maha first state to sign RCS plan, to develop 10 small airports  

    Maharashtra today became the first state to sign an agreement with the civil aviation ministry to develop 10 almost non-functional regional airports/airstrips helping move closer to reality the Centre's ambitious regional conn...

    23 Aug 2016, 10.34 pm  |  Source: PTI

  • Gujarat okay with any GST rate as long as losses paid: Ex-FM

    Gujarat okay with any GST rate as long as losses paid: Ex-FM   

    In an interview with CNBC-TV18, Saurabh Patel, Former Finance Minister of Gujarat, which passed the GST Bill today, talked about the tax and what will be the minimum tax rate that they state government expects.

    23 Aug 2016, 10.30 pm  |  Source: CNBC-TV18

  • Karnataka in no hurry to pass GST Bill: Minister

    Karnataka in no hurry to pass GST Bill: Minister   

    In an exclusive conversation with CNBC-TV18, Karnataka State Industries Minister RV Deshpande said even though the state government is completely in favour of GST, they are in no hurry to ratify the bill.

    23 Aug 2016, 10.02 pm  |  Source: Moneycontrol.com

  • NITI Aayog looks to make India hub for commercial arbitration

    NITI Aayog looks to make India hub for commercial arbitration  

    Government think-tank NITI Aayog will convene a three-day global conference here in October to discuss making India a hub for commercial dispute resolution through arbitration.

    23 Aug 2016, 9.44 pm  |  Source: PTI

  • Railways rationalises coal tariff

    Railways rationalises coal tariff  

    As per the new rate, coal loading would cost Rs 712 per ton for transportation upto 497 km now as against Rs 702. It will be Rs 2,138 per ton for 1,807 km transportation now as against the existing rate of Rs 2,348.

    23 Aug 2016, 6.12 pm  |  Source: PTI

  • Gujarat Assembly ratifies GST Bill

    Gujarat Assembly ratifies GST Bill  

    Passed by Parliament recently, the bill needs to be ratified by at least 15 state legislatures before the President can notify the GST Council which will decide the new tax rate and other issues.

    23 Aug 2016, 6.12 pm  |  Source: PTI

  • India`s progress incomplete without infra expansion: PM

    India's progress incomplete without infra expansion: PM  

    Modi, who chaired a meeting here yesterday to review the progress in core infrastructure sectors, said it was noted that there has been "phenomenal progress" in vital sectors such as renewable energy and railways.

    23 Aug 2016, 5.04 pm  |  Source: PTI

  • Major ports, entities to take Rs 50,000 cr loan in $: Gadkari

    Major ports, entities to take Rs 50,000 cr loan in $: Gadkari  

    Jawaharlal Nehru Port (JNPT) has entered into an agreement with State Bank of India (SBI) and Development Bank of Singapore (DBS) for a loan of USD 400 Million.

    23 Aug 2016, 3.18 pm  |  Source: PTI

  • Framework for accreditation of credit counsellors on anvil: RBI

    Framework for accreditation of credit counsellors on anvil: RBI  

    "For bridging the information asymmetry on the MSME borrowers side, the RBI is initiating a process for putting in place a framework for accreditation of credit counsellors who are expected to serve as facilitators and enablers fo...

    23 Aug 2016, 3.18 pm  |  Source: PTI

  • Railways streamlines freight rates for coal movement

    Railways streamlines freight rates for coal movement   

    The Indian Railways has streamlined its freight rates on movement of coal, with slab-wise revision seen as per distance.

    23 Aug 2016, 2.47 pm  |  Source: CNBC-TV18

  • January Budget to bring more efficiency: CBDT

    January Budget to bring more efficiency: CBDT  

    As part of larger exercise of Budget overhaul, government is looking at advancing the dates of its presentation in Parliament by a month to January-end to ensure that the whole process is completed before the new financial year be...

    23 Aug 2016, 2.24 pm  |  Source: PTI

  • Centre seeks states` support to implement DBT in fertiliser

    Centre seeks states' support to implement DBT in fertiliser  

    The states were also told to complete necessary paperwork to enable the Centre to clear pending subsidy to the tune of Rs 4,000 crore to fertiliser manufacturers.

    23 Aug 2016, 2.16 pm  |  Source: PTI

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