Economy News - Page 4
Export up 4.39% in June; trade deficit widens to $12.96 billion
Import rose by 19 percent to US $36.52 billion in June from US $30.68 billion in the year-ago month due to rise in inward shipments of oil and gold.
June inflation slowest in more than five years, builds pressure on RBI to cut rates
Falling food prices present a worry for the government because of the hit on millions of farm households.
Urjit Patel on counting banned notes: Staff working round the clock but process still on
Members of Parliament Standing Committee on Finance, who questioned Urjit Patel, are dissatisfied that he could not yet give a conclusive figure.
As monsoon takes a break, summer crop yields likely to fall; farmer woes may heighten
Rains are now 1 percent below normal, with the deficit as high as 35 percent in some regions, weather department data shows
GST: Congress to gherao Parliament on 18 July, says tax regime will affect traders, common people
Delhi Pradesh Congress Committee (DPCC) president Ajay Maken made the announcement at a party meeting on Tuesday.
GST impact: Honda Cars, Ford India, TVS Motor, Suzuki Motorcycle slash prices
Automakers today announced price cuts ranging from Rs 350 in case of two-wheelers to Rs 3 lakh on Ford's SUV Endeavour
GST launched: A new tax era begins with pomp, but how prepared are we to take the big leap?
The passage of GST will show the world that India has finally broken out of the reforms jinx and is ready for its next round of big reforms.
GST launch: Tax rate on construction sector hiked to 18% from 12%
Construction of complex, building, civil structure, including a complex or building intended for sale to a buyer, wholly or partly, will attract a GST rate of 18 percent
GST launch: Ratan Tata, Lata Mangeshkar to former RBI chiefs (except Raghuram Rajan) to attend event
The launch event will start at 11 pm on 30 June and extend into the midnight, coinciding with the rollout of the Goods and Services Tax regime
GST explainer part-II: Is India ready? How will your household budget get affected?
Can you complain to the anti-profiteering authority if the neighbourhood store is not reducing prices? You can but probe will be on the manufacturer
Forget 7th Pay Commission allowance, decision on Air India sale is the real good news; here's why
Air India stake sale approval is a great news for the economy, provided the government follows up with strong actions before it enters its last year
7th Pay Commission: Allowances bonanza for govt staff from 1 July explained in 20 points
For JCOs and Other Ranks, the hardship allowance for Siachen will be Rs 30,000 compared to the 7th Pay Commission's recommendation of Rs 21,000. The JCOs and ORs were getting Rs 14,000 per month as hardship allowance for Siachen at present
GST rollout: New indirect tax regime brings in a mixed bag of gifts for BFSI sector
GST on leasing harmonises input across all levels to make the end product cost effective to the consumer
Seventh Pay Commission: Will govt staff get allowances from July? Cabinet decision likely today
If the Pay Commission recommendations on allowances are implemented fully, then as per estimates the cost to the exchequer will be Rs 29,300 crore
GST explainer part-1: What's the tax all about, how does anti-profiteering work and other basic questions answered
This is the first of a three-part series, helping you decode the whats, whys and hows of GST
Provisioning for 12 NPAs: SBI's Arundhati Bhattacharya rules out huge dent on bottom lines
These 12 large accounts had become NPAs by end-March 2016 and Crisil estimates show the banks had already provisioned 40 percent for these NPAs worth Rs 2 trillion or about Rs 80,000 crore.
Without GST, business in J&K may be hit; industry body says onus on politicians for any short supply
The Jammu Chamber of Commerce and Industries president also advised all the politicians whether in mainstream or in separatist politics, not to confuse the situation if they cannot help the situation otherwise.
GST from 1 July: Natural gas may be included in new tax regime, likely to benefit ONGC
Currently, crude oil, petrol, diesel, jet fuel or aviation turbine fuel (ATF) and natural gas are not included in the new indirect tax structure, which is set to kick in from 1 July
Narendra Modi-Donald Trump meet: India scores on terror, but trade game tilts in US favour
Any artificial balancing of trade deficits by the US that challenges India's competitive advantage in IT goes against free trade. Advantage 'America First' over 'Make in India'?
GST from 1 July: Traders want ombudsman for redressal of grievances under new regime
CAIT, the traders body, has demanded that the government declare first nine months post GST implementation up to 31 March as an interim period,
As bad loans pile up at banks, finance ministry seeks to extend RBI deadline on Basel III norms
As per the norms, banks have to maintain a minimum common equity ratio of 8 percent and total capital ratio of 11.5 percent by March 2019.
Banks won't compensate you for burglary or theft of your valuables in lockers, reveals RTI query
The unanimous reason given by 19 banks is that "the relationship they have with customers with regard to lockers is that of lessee (landlord) and lessor (tenant)".
GST: Over one lakh immediate new employment opportunities expected
GST is expected to create significant job opportunities as the businesses will need to hire professionals for dedicated GST management, upgrade and reconciliations.
New NPA resolution process weakens our banks just as farm loan waivers do; here's why
By creating a culture of inertia when it comes to debt-servicing, the message sent out is that at the end of the day there will be support coming from the government in some form to ensure that the system does not collapse
Tackling NPAs: Banks to kick off insolvency of Bhushan Steel, Essar Steel, Electrosteel; total loan Rs 92,000 cr
These three borrowers are among the 12 accounts identified by the Reserve Bank for immediate reference to National Company Law Tribunal
GST Council relaxes return filing rules for July-August, rollout confirmed from 1 July
The GST, the biggest tax reform in India's 70-year history, will require firms to file three online returns each month.
Daily petrol, diesel price revision: Dealers withdraw strike after govt agrees to rate change at 6 am
IOC, the largest fuel retailer, said it will provide information on daily price revisions through various means, including LED screens at petrol pumps, toll-free number, social media posts, mobile apps as well as through SMS.
Govt bailout for telecom may not be a smart idea; M&As signal better days not too far away
A tough call for the government. If it ignores what the incumbents are saying, then the banking sector stress worsens. If it agrees to all the demands of telcos, then again it suffers a significant revenue loss
GST rollout: Prices of many essential drugs to rise up to 2.29%; insulin to cost less
The government has fixed GST rate of 12 percent on most of the essential drugs as against the current tax incidence of around 9 percent
Farm loan waivers: How smart villages, data science can help govt manage agri debt, even beat gamesters
Urban armchair pundits talking only about fiscal discipline often lose sight of the fact that farmers need a cushion for their risks that can come from either excess or little of rains or crop.