Railway employees union demands productivity-linked bonus on the basis of 7th pay commission
the workers get every year ahead of the festive season.
The railways pay PLB, which is equivalent to 78 days' wages, to all non-gazetted employees (Group C and Group D) as an incentive to increase productivity and ensure safety. The PLB is calculated on the basis of the minimum salary paid to the lowest grade (Group D) employees.
I-T dept asks taxpayers to respond to intimation of past tax demands for faster refund processing
With some taxpayers taking to social media about receiving intimation from the I-T department regarding past unsettled tax demands, the department in a post on 'X' said, this is a taxpayer-friendly measure where an opportunity is being provided to assessees in line with "principles of natural justice".
India's vegetable oil imports up 33% in Aug: SEA
India imports palm oil mainly from Indonesia and Malaysia, and a small quantity of crude soft oil, including soybean from Argentina.
Metro trains now running at 120 kmph on Airport Line: DMRC official
The total journey from New Delhi station to newly-built Yashobhoomi Dwarka Sector 25 station will take about 21 minutes, they said.
India-Canada FTA on pause till political issues resolve: Sources
The India-Canada negotiations were re-launched in March 2022 after the countries held the fifth Ministerial Dialogue on Trade & Investment
Weekly Numerics | Fiscal deficit widens, talent scarcity hits India Inc., long timelines for debt recovery
Four out of five employers in India report facing difficulty in finding the talent they need. Meanwhile, 52 million additions were made to the payrolls over the past four years.
Tea companies likely to witness eight per cent degrowth in revenue this fiscal: Crisil Ratings
According to the report, operating profitability will fall second year in a row, shedding 100 basis points to five per cent, primarily due to lower realisation.
WPI inflation in negative for fifth month in a row at (-) 0.52% in August
The wholesale price index (WPI) based inflation rate has been in the negative since April and was (-)1.36 per cent in July. In August last year, WPI inflation was 12.48 per cent. In August last year, WPI inflation was 12.48 per cent.
India may cut market borrowing if small savings shoot up
India has projected gross market borrowing at 15.43 trillion Indian rupees ($185.88 billion) for the fiscal year ending on March 31, of which it plans to borrow 8.88 trillion rupees between April and September.
Fitch retains India's growth forecast for FY24 at 6.3%, flags inflation risks
The Indian economy grew 7.8 per cent in the April-June quarter of current fiscal on strong services sector activity and robust demand.
India, UK for early conclusion of free trade pact
Addressing a joint press conference with UK Chancellor of Exchequer Jeremy Hunt, Finance Minister Nirmala Sitharaman said both sides intend to expedite the free trade agreement.
Over $1.8 billion worth of assets recovered from economic offenders: Union Minister Jitendra Singh
Addressing an event at the Central Bureau of Investigation (CBI) headquarters here, he said there has been a quantum jump in extradition of criminals and fugitives in recent years, especially after India hosted the 90th Interpol General Assembly in October 2022.
Clarity, coordinated approach helped India fight Covid, taking care of the poor: PM Modi
Lauding the digital public infrastructure in the country, the prime minister said it helped welfare assistance reach the last mile
India's central bank says 93% of 2,000-rupee notes returned since May
The total value of 2,000-rupee notes in circulation was down to 3.56 trillion rupees as of May 19, from 3.62 trillion rupees as on March 31 – the end of the last fiscal year – the central bank said in a statement.
Fiscal deficit touches 33.9% of full-year target at end-July: CGA data
The deficit stood at 20.5 per cent of the Budget Estimates (BE) in the corresponding period of the financial year 2022-23. In the Union Budget, the government projected to bring down the fiscal deficit to 5.9 per cent of the gross domestic product (GDP) in the current 2023-24 financial year.
Food inflation still a concern; uncertainty due to shortfall of monsoon: Nestle India CMD Suresh Narayanan
With this El Nino impact not fully played out, we still have to watch for the spectre of food inflation, he said. "There will be pressure in terms of food inflation. Headline inflation will get mitigated because of various steps that the government will take but food inflation is still a cause for concern," Narayanan said.
RBI governor-headed FSDC-SC resolves to remain vigilant against external vulnerabilities
The Reserve Bank of India reviewed the functioning of State Level Coordination Committees (SLCCs) in various states/UTs.
RBI Guv asks NBFCs to strengthen governance standards
Acknowledging the important role played by the sector in delivering credit to the unbanked and underserved areas, Das advised that NBFCs and HFCs need to remain alert to avoid any complacency during good times.
India to get USD 25 million grant from G20 Pandemic Fund for strengthening animal health system
The fund that was established under Indonesia's G20 Presidency is targeted at low-to middle-income countries to finance efforts like surveillance, research, and better access to vaccines, among others measures.
Bullish on India: India has most ingredients necessary for growth, says former DEA Secy R Gopalan
With its sheer size of market, impressive GDP growth and large middle class, India presents a compelling case for long-term growth prospects
G20 Summit: Delhi’s hotel occupancy expected to be at a decadal high of 70-72%
Delhi G20: Capital’s most premium hotels including Taj Mahal, Taj Palace, ITC Maurya Sheraton, Le Meridien, Shangri-La, The Lalit, Imperial, Oberoi, and Leela have already closed availability for almost all dates between September 6-11.
MC Interview: Growth in small savings significantly high, on track to meet Rs 4.71 lakh crore target, says Fin Secy
TV Somanathan also said that NSSF inflows will not be impacted even if many people shift to the new direct tax regime
After tomato, onion prices set for eye-watering rise
A dip in onion acreage coupled with low carryover stocks from the rabi season has put onion prices on a rising trajectory, with prices hitting Rs 2,500 a quintal at Pimpalgaon and Lasalgoan, Asia’s largest onion market
IMD working to sharpen forecast tools in view of changing weather patterns
India’s weather pattern has seen a swift change, with the monsoon bringing in heavy rain followed by spells of dry weather, says DS Pai, Head of the IMD’s Environment Monitoring and Research Centre.
Sri Lanka records single-digit inflation for the first time since economic crisis: Official data
The island nation faced its worst economic crisis in history due to a shortage of foreign exchange reserves. An imperative in the IMF bailout is to restructure external debt, which needs to be completed by September.
