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Economy

  • Biz GIFT-IFSC crosses USD 2 bn; to create 1 mn jobs by 2025

    Biz GIFT-IFSC crosses USD 2 bn; to create 1 mn jobs by 2025  

    Business transactions at Gujarat International Finance Tec-City (GIFT), country's first International Financial Services Centre, has crossed USD 2 billion mark and is likely to grow manifold in the near term.

    22 Feb 2017, 6.18 pm  |  Source: PTI

  • Are Acharya`s words a call to action for banks?

    Are Acharya's words a call to action for banks?  

    In some "tough love" shown to banks by the Reserve Bank of India on Tuesday, while bankers are yet to digest the suggestions, it could well be a turning point for the public sector banks.

    22 Feb 2017, 6.00 pm  |  Source: Moneycontrol.com

  • Scrappage scheme can boost CV sales by 65%: Crisil

    Scrappage scheme can boost CV sales by 65%: Crisil  

    The voluntary vehicle modernisation programme (V-VMP) or the scrappage programme announced by the transport ministry can boost commercial vehicle (CV) sales by a cumulative 65 percent between fiscals 2018 and 2020, over (over sale...

    22 Feb 2017, 5.46 pm  |  Source: PTI

  • India comfortable with crude oil prices up to USD65/barrel: CEA

    India comfortable with crude oil prices up to USD65/barrel: CEA  

    Rising global oil prices will not pose a serious risk to the economy if they remain within the range of USD 55-65 a barrel, said chief economic adviser Arvind Subramanian.

    22 Feb 2017, 5.46 pm  |  Source: PTI

  • Industrial units must have effluent treatment plants: SC

    Industrial units must have effluent treatment plants: SC   

    The Supreme Court on Wednesday passed a slew of directions to curb the release of untreated waste in water bodies.

    22 Feb 2017, 5.22 pm  |  Source: PTI

  • Manufacturers seek zero GST on low price biscuits

    Manufacturers seek zero GST on low price biscuits  

    Biscuit manufacturers have sought 'nil' tax on low price biscuits under the proposed Goods and Services Tax (GST).

    22 Feb 2017, 5.00 pm  |  Source: PTI

  • India needs to create bad bank quickly: Finance ministry aide

    India needs to create bad bank quickly: Finance ministry aide  

    Chief Economic Adviser Arvind Subramanian, who has proposed setting up a public asset rehabilitation agency to fix the balance sheets of both struggling banks and indebted companies, said the government was in touch with the RBI o...

    22 Feb 2017, 4.31 pm  |  Source: Reuters

  • `Smart City projects should focus more on natural calamities,

    'Smart City projects should focus more on natural calamities,  

    The Ministry's ex-secretary Shailesh Nayak said that at a time when earthquakes happen frequently and temperatures are reaching extremes, the policy should talk more comprehensively about the ways in which it would handle natural ...

    22 Feb 2017, 4.10 pm  |  Source: PTI

  • India`s bankers sceptical over RBI proposal on bad loans

    India's bankers sceptical over RBI proposal on bad loans  

    Banks in India have record stressed loans of USD 133 billion, or 12.34 percent of their total loans, as of last September, and economists say dealing with them has become imperative given the load is constraining lending and delay...

    22 Feb 2017, 3.46 pm  |  Source: Reuters

  • This ATM gets its Rs 2,000 notes from `Children`s Bank of India`

    This ATM gets its Rs 2,000 notes from 'Children's Bank of India'  

    Fake notes dispensed by a State Bank of India ATM in Delhi had a 'churan lable' instead of the Ashoka Chakra, according to a report in Hindustan Times.

    22 Feb 2017, 3.45 pm  |  Source: Moneycontrol.com

  • Cabinet clears decks for India-Poland agriculture pact

    Cabinet clears decks for India-Poland agriculture pact  

    The approval was given at the Union Cabinet meeting chaired by Prime Minister Narendra Modi, an official statement said.

    22 Feb 2017, 3.44 pm  |  Source: PTI

  • `Promoting biz, investment necessary to address trade deficit`

    'Promoting biz, investment necessary to address trade deficit'  

    "The issue of trade deficit between India and China needs to be addressed and therefore, promoting business, trade and investment is necessary between the two countries," Liu Jinsong, Minister Counsellor, Embassy of China in India...

    22 Feb 2017, 3.30 pm  |  Source: PTI

  • Demonetisation hits tax collection in Odisha

    Demonetisation hits tax collection in Odisha  

    "In the aftermath of withdrawal of Rs 1,000 and Rs 500 denominations, economic activity has been interrupted in the segments which are cash intensive," Governor S C Jamir said while addressing the state Assembly on the opening day...

    22 Feb 2017, 3.24 pm  |  Source: PTI

  • Cabinet approves setting up of 50 more solar parks

    Cabinet approves setting up of 50 more solar parks   

    Speaking to CNBC-TV18, Power Minister Piyush Goyal said the central support had been doubled to Rs 8,000 crore based on the successful bidding for the Rewa solar park where they discovered a price of 2.90 per unit of solar energy.

    22 Feb 2017, 3.22 pm  |  Source: CNBC-TV18

  • Solar power capacity to be doubled to 40,000 MW

    Solar power capacity to be doubled to 40,000 MW  

    "The Cabinet Committee on Economic Affairs, chaired by the Prime Minister Narendra Modi, today approved the enhancement of capacity from 20,000 MW to 40,000 MW of the Scheme for Development of Solar Parks and Ultra Mega Solar Powe...

    22 Feb 2017, 2.56 pm  |  Source: PTI

  • I-T to go easy on up to Rs 5 lakh deposits by 70-plus people

    I-T to go easy on up to Rs 5 lakh deposits by 70-plus people  

    The official also said that these verifications are being sought to be done online and any person of up to 70 years of age, who has deposited more than Rs 2.5 lakh in cash, has to go to I-T department website and explain the sourc...

    22 Feb 2017, 2.36 pm  |  Source: PTI

  • No plans to introduce Rs 1,000 notes; enough cash available: Das

    No plans to introduce Rs 1,000 notes; enough cash available: Das  

    In a series of tweets, Economic Affairs Secretary Shaktikanta Das said the focus is on increasing production and supply of Rs 500 and lower denomination currencies, while complaints of cash shortage are being looked into.

    22 Feb 2017, 2.12 pm  |  Source: PTI

  • TN govt forms panel to go into 7th pay commission suggestions

    TN govt forms panel to go into 7th pay commission suggestions  

    Chief Minister Edappadi K Palaniswami announced constituting a five-member panel headed by Additional Chief Secretary, Finance, K Shanmugam for this purpose.

    22 Feb 2017, 1.54 pm  |  Source: PTI

  • Centre clears Rs 5,700 cr hydro project to be set up in Nepal

    Centre clears Rs 5,700 cr hydro project to be set up in Nepal  

    The decision to approve the Arun-III project was taken at a meeting of the Cabinet Committee on Economic Affairs headed by Prime Minister Narendra Modi here today.

    22 Feb 2017, 1.50 pm  |  Source: PTI

  • No plans to introduce Rs 1,000 notes: Shaktikanta Das

    No plans to introduce Rs 1,000 notes: Shaktikanta Das  

    Last week, Finance Minister Arun Jaitley said the remonetisation situation with regard to replenishing the scrapped currency is "almost normal" now and the Reserve Bank is monitoring the supply on a daily basis.

    22 Feb 2017, 11.58 am  |  Source: PTI

  • Govt may consider imposing import duty on wheat: Paswan

    Govt may consider imposing import duty on wheat: Paswan  

    Paswan said there would be a bumper wheat production this year and the government has set a procurement target at 33 million tonnes for the 2017-18 marketing year, starting April.

    22 Feb 2017, 8.58 am  |  Source: PTI

  • NPA resolution must be done with a sense of urgency: Acharya

    NPA resolution must be done with a sense of urgency: Acharya  

    Stating that timely resolution of NPAs is of essence if we were to restore corporate investment and create jobs, Acharya asked bankers to take NPA resolution "with a certain sense of urgency."

    22 Feb 2017, 7.52 am  |  Source: PTI

  • Govt developing digital matrix to evaluate states: NITI Aayog

    Govt developing digital matrix to evaluate states: NITI Aayog    

    Speaking to CNBC-TV18, Amitabh Kant, CEO of NITI Aayog, said the government was also pushing for an Aadhaar app and a reduction in the Merchant Discount Rate.

    21 Feb 2017, 9.57 pm  |  Source: CNBC-TV18

  • Viral Acharya suggests two-way approach to tackle bad loans

    Viral Acharya suggests two-way approach to tackle bad loans   

    The new deputy chairman of Reserve Bank Viral Acharya today cautioned about the increasing stressed assets and said if some resolution does not happen, it could “lead to a lost decade”.

    21 Feb 2017, 8.54 pm  |  Source: Moneycontrol.com

  • FIPB clears 15 FDI proposals worth Rs 12,000 cr

    FIPB clears 15 FDI proposals worth Rs 12,000 cr  

    Inter-ministerial body FIPB today approved 15 investment proposals, including that of Apollo Hospitals, Hindustan Aeronautics, Dr Reddy's and Vodafone, envisaging foreign investment of Rs 12,200 crore.

    21 Feb 2017, 8.08 pm  |  Source: PTI

  • Govt mulls reducing MDR charges on card payments

    Govt mulls reducing MDR charges on card payments  

    The government is working to reduce Merchant Discount Rate (MDR) charges to encourage digital payments, Niti Aayog CEO Amitabh Kant said today.

    21 Feb 2017, 5.36 pm  |  Source: PTI

  • GST Council needs to re-work its priorities: Manish Sisodia

    GST Council needs to re-work its priorities: Manish Sisodia   

    If the Good & Services Tax (GST) Bill is introduced without exhaustive planning, it could turn into a disaster, warns Manish Sisodia, Deputy CM of Delhi and a member of the GST Council.

    21 Feb 2017, 5.14 pm  |  Source: CNBC-TV18

  • M&A and InvITs to account 12% of total infra fund requirement

    M&A and InvITs to account 12% of total infra fund requirement  

    Funds amounting to Rs 400 billion will be raised by the infrastructure sector through mergers and acquisitions as well as InvITs, this year, contributing to about 12 percent of the total equity requirement in this industry, says a...

    21 Feb 2017, 5.00 pm  |  Source: PTI

  • Passenger vehicle fin mkt to hit Rs 1.63L cr by FY20: E&Y

    Passenger vehicle fin mkt to hit Rs 1.63L cr by FY20: E&Y  

    The passenger vehicle finance market in India is expected to grow 2.1 times to touch a size of Rs 1,63,600 crore by 2019-20, according to a report by global consultancy firm E&Y.

    21 Feb 2017, 4.58 pm  |  Source: PTI

  • Poultry industry`s profitability to improve in FY17: ICRA

    Poultry industry's profitability to improve in FY17: ICRA  

    Domestic poultry industry is expected to register sharp improvement in profitability in FY17 majorly supported by lower soymeal prices in H2 FY17 and remunerative broiler and table egg realisations during Q1 FY17.

    21 Feb 2017, 3.54 pm  |  Source: PTI

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