Economy News - Page 5
GST rollout: Rumours of delay false, Hasmukh Adhia tweets; in reply many express worries over readiness
The confusion among the business community is palpable from the replies to Hasmukha Adhia
Loan waiver hopes prompt farmers to stop repayment across states; lenders' balance sheets to worsen further: Report
With farm loan waiver becoming a key political plank to win elections, farmers in states that are going for elections this year are hopeful that they also will get the benefit
Aadhaar must to get government co-contribution for availing Atal Pension Yojana
Atal Pension Yojana, the government's flagship social security scheme, has more than 54 lakh subscribers with an asset base of more than Rs 2,200 crore.
New textile policy may be finalised in three months time; aims to achieve $300 bn exports by 2024-25
The Centre is organising Textile India Conclave and Exhibition in Gujarat from 30 June to 2 July, for the Indian textile and handicraft sector which will showcase the entire range of textile products from 'fibre to fashion'.
IIP at 3.1%, CPI down to 2.18%: Why the data is egg on face of RBI, rate panel
A closer look at the January-March GDP numbers show that except for government spending and growth in agriculture (thanks to good rains last year), no major segments showed any promise
IIP slows to 3.1%, CPI inflation falls to 2.2%: India Inc's clamour for rate cut grows
Retail, or consumer price indexed (CPI), inflation during May also fell to 2.18 percent, as compared with 5.76 percent in the same month of last year, pulled down by sharp fall in food prices.
Industrial production growth slows to 3.1% in Apr; inflation eases to record low of 2.18% in May
The factory output measured in terms of the index of industrial production (IIP) had expanded by 6.5 percent in April last year
SpiceJet set to launch flights under UDAN scheme next month
SpiceJet said it is the only airline which hasn't sought subsidy or viability gap funding under this scheme.
'18% GST on sub-Rs 100 movie tickets won't help industry': Multiplex operators
According to Multiplex Association of India President Deepak Asher, under the current existing system, rate of tax on cinema exhibition in India as a whole is around 19.5 percent
GST rollout: Centre proposes to defer e-way bill citing lack of software
Industry however has expressed concerns over this saying that the Rs 50,000 limit was too low and that the timeline for completion of transport operation was "impractical and removed from reality".
Telangana's gross state domestic product up over 10% to Rs 5.11 lakh crore in FY17
Telangana state industrial policy launched in June 2015 has generated Rs 73,000 crore in investments, and created 2.46 lakh jobs in the process, said state Industries and Commerce Minister K T Rama Rao
Maharashtra farm loan waiver: Arun Jaitley insists states writing off agri debt will have to find own funds
Earlier after Uttar Pradesh announced Rs 36,000 crore waiver, the finance minister had made it clear that states wouldn't get my financial assistance from Centre on this count.
In Make in India push, France's Alstom to make 800 'super high-power' locomotives locally
Alstom providing coaches, equipments and services to Delhi, Chennai, Bengaluru, Jaipur and Kochi Metro rail
Maharashtra, Madhya Pradesh farmer protest due to impoverishment of agri sector, say experts
Farmers are struggling hard to meet their input expenses due to a drop in prices of agriculture produce, which agricultural experts attribute to the rising cost of farming, the haphazard use of fertlisers, and failed government policies over the years.
Note ban may continue to slow down economy, impact business, cautions SBI
The effects of the demonetisation decision are uncertain, which may adversely affect the bank’s business, results of operations and financial condition, the bank said in the Preliminary Placement Document to investors while flagging the 'risk factors'.
Madhya Pradesh farmer protest: Fulfill demands, else agitation will spread, warns Rashtriya Kisan Mahasabha
In the last three years, the prime minister has not even given time to farmer's organisations to discuss the issue, said RKM national convenor and RKMS chief Shivkumar Sharma
Aadhaar-PAN linkage: No conflict between Aadhaar Act and IT Act, rules SC; relief to govt
The SC acknowledged the fact that invalidating PAN cards of citizens who have not linked Aadhaar number to PAN by the stipulated date (ie, 1 July, 2017) will have severe consequences.
GST Council to meet on 11 June to review rates, amend rules
This will be the 16th meeting of the Council, chaired by FM Arun Jaitley and comprising state counterparts, since it was set up in September 2016.
GST Council forms 18 sectoral working groups to sort out industry worries
The other sectors which would be looked into by the group include IT and ITes, textiles, gems and jewellery, food processing, e-commerce, oil and gas, pharma and MSME
Not cancelled unused credit lines to debt-laden telecom sector: SBI
The sector is facing the squeeze on revenues and profitability in the wake of cut-throat competition following entry of Reliance Jio
Fast track system to resolve Indian cos' issues in Germany
The issue was discussed recently at a meeting in Berlin, during the visit of Prime Minister Narendra Modi.
Corporate debt, bank NPAs cast cloud over Narendra Modi's economic revival plans
The bad loans have forced banks to curb overall lending growth and cut their credit exposure to industry, while the share of capital investments in India's GDP has dropped to below 30 percent from more than 38 percent a decade ago.
Lower interest rate won't necessarily boost growth: Former RBI governor Y V Reddy
According to the former governor, if the RBI agrees with the finance ministry all the time, then it is "superfluous"
GST rollout will make foodgrains, milk, veggies up to 5% cheaper, says finance ministry
The government has exempted cereals, pulses, atta, maida and besan from the GST, which will be implemented from 1 July.
Online banking to kill physical banks in 5-6 years: NITI Aayog CEO Amitabh Kant
He said that with proliferation of mobile phones and Internet based transaction, it will be easy for financial technology firm to do analysis and provide loans to person who requires it and has good credit history
Economy headed for consolidation says RBI survey; retail inflation seen 5% by Jan-March
The RBI has been conducting the Survey of Professional Forecasters (SPF) since September 2007 and the latest (46th round) was conducted during May 2017.
Deal with NPAs in flexible, pragmatic way, says Assocham president
Assocham president Sandeep Jajodia also urged the Centre that the NPA norms on getting the account classified under non-performing asset category for core sectors should be extended from 90-days to 180-days.
GST to have positive impact on gold industry, says World Gold Council
"While gold consumers will face a slightly higher tax rate and the industry will go through a period of adjustment, we see the net impact on the gold industry as being positive," it added.
Amazon likely to get soon official nod for $500 million FDI in food retail
The proposal was pending before the Foreign Investment Promotion Board (FIPB) which has been abolished now
Petrol, diesel rates to be revised daily from 16 June in sync with international rates
Daily price change will remove the big leaps in rates that need to be effected at the end of the fortnight and consumer will be more aligned to market dynamics