Economy News - Page 25
Retail inflation slips 37-month low to 3.17% in January
Retail inflation, measured in terms of Consumer Price Index (CPI), was at 3.41 percent in December.
Rural development holds key to growth and given priority in Union Budget, says Arun Jaitley
Jaitley said the Centre has made adequate financial allocation in the recent Budget for rural development such as power, irrigation, roads, drinking water, housing and MGNREGA (Mahatma Gandhi National Rural Employment Guarantee Act).
Demonetisation impact: IIP contracts to 4-month low of 0.4% in December
The industrial output was 5.7 percent in November and did not capture the impact of demonetisation.
Indirect tax revenue grows 24% in Apr-Jan; direct tax up 10.79%
Belying fears of slowdown due to demonetisation, indirect tax collection grew at a decent 16.9 percent in January buoyed mainly by excise, reflecting an uptick in manufacturing.
Govt makes Aadhaar mandatory for availing foodgrains from ration shops
The government said, subsidised foodgrains will not be sold to anyone not having Aadhaar after June 30.
Bill to tackle bankruptcy in financial sector soon to be introduced in Parliament: Shaktikanta Das
Outlining the focus of the budget 2017-18 at an event organised here by industry body Assocham, Das said, one of its objectives was strong fiscal focus
No decision yet on imposing tax on cash transactions: Shaktikanta Das
The Andhra Pradesh Chief Minister Chandrababu Naidu-headed committee on digitisation had in its report last month recommended a levy on cash deals beyond Rs 50,000 as it sought to discourage the use of physical currency.
RBI policy: With demonetisation pain still on, rate panel is acting in undue haste
The big gamble here is that the MPC expects the note ban impact to wear off and, in fact, growth to rebound sharply
United Breweries asks Vijay Mallya to step down from board
Last month, Sebi had banned Mallya and six former officials of United Spirits Ltd (USL) from securities markets in a case related to illegal fund diversions, while probe is on into the role of auditors and change of control at the company.
RBI signals end to rate cuts as inflation risks pose bigger threat than black money
The vote by the monetary policy committee to hold rates steady was 6-0, marking its third straight unanimous decision since being established in September.
RBI deputy Viral Acharya says 'bad bank' could help if designed right
In its economic survey released on 31 January, the finance ministry suggested setting up a bad bank that it said could be used to buy bad loans from the banks and deal with them through methods including conversion of debt to equity.
RBI holds rate on inflation fears, surprises with change in stance: What experts said
The RBI monetary policy committee on Wednesday voted 6-0, its third unanimous decision in a row since being established in September.
Cognizant finds improper payments of $6 mn made in India to obtain permits, licences
To date, of the identified $6 million in potentially improper payments, Cognizant has now recorded a total of $4.1 million in corrections, Karen McLoughlin, CFO said.
RBI status quo on key policy rates disappoints demonetisation-hit India Inc
India Inc today said a rate cut was needed to revive demand hit by the cash crunch post demonetisation
Affordable housing gets major boost in budget, but is the tax rebate enough to push demand?
The affordable housing market could be the channel for opening up other segments in real estate and now it is up to the developers to build confidence so that demand comes back
Highlights of the RBI's sixth bi-monthly monetary policy announced today
Economic growth for FY17 lowered to 6.9 percent; RBI pegs it at 7.4 percent in 2017-18
RBI cuts FY17 growth forecast to 6.9%, pegs 7.4% for next year
In its last monetary policy on December 7, the central bank had cut growth forecast to 7.1 percent, from its earlier projection of 7.6 percent for this fiscal.
RBI holds rate at 6.25%, cuts growth forecast: Full text of policy statement
This is the third policy review by the monetary policy committee
Foreign direct investment zooms 60% to $4.68 billion in November
Cumulatively, India attracted USD 32.49 billion foreign inflows in April-November period of the current fiscal as against USD 24.81 billion in the same period previous year.
RBI policy today: More than rate cut, read Urjit Patel’s lips on GDP growth comments
More than the interest rates, what is more interesting to watch is RBI forecast on GDP growth and comments from governor Urjit Patel on the growth outlook
Union Budget 2017: Kotak Bank sees economic growth in 3-4 months if proposals are implemented
Shanti Ekambaram, president of consumer banking at Kotak Mahindra Bank, said that implementation of the proposals in the Union Budget 2017 is critical as the country is coming out of demonetisation
Narendra Modi speech: Enough of rhetoric; where are the hard numbers on demonetisation gains?
After three months, the demonetisation pain has begun to ease as cash has slowly found its way back. It's time Narendra Modi presented the facts before the public
Indian economy projected to overtake US by 2040: PwC report
"In fact, China has already overtaken the US to become the world's largest economy in PPP terms, while India currently stands in third place and is projected to overtake the US by 2040 in PPP terms," PwC said.
Unemployment on the rise, highest among OBCs: How is high growth benefiting poor?
The Modi-government still seems to be obsessed with the GDP figures while focus on actual job creation remains weak beyond rhetoric.
Ujjivan Small Finance Bank launched, to offer fixed, recurring deposits at 5.5-8%
Unlike payments bank, small finance banks will start off well because they have their business in place, said Samit Ghosh, MD and CEO, Ujjivan Small Finance Bank
Union Budget 2017 pulls out govt of demonetisation mire but disappoints in job creation
This solid, workmanlike Budget had few new promises and showed the determination to deliver old promises.
Budget for Bharat: Large investments but only a mild push to rural consumption
The real push needed is in rural spending through government investment. Has the Budget 2017-18 actually helped this cause?
Union Budget 2017: Kudos to PM Modi, Arun Jailtey for not falling for poll compulsions
They have produced a budget that is better than business as usual
New Income Tax slab 2017-18: Here's how Arun Jaitley is putting money into your pocket
This means the overall tax rate will come down for those who have income up to Rs 5 lakhs.In fact even those who have income above Rs5 lakhs will benefit slightly.
Union Budget 2017 is a total miss on banking reforms, economy will pay a price for it
During his speech, Jaitley said the government will take care of the additional capital requirements of these banks, but past experience have shown such assurances have hardly materialized.