India’s core industries production grew by 5 per cent in March, rebounding sharply from the one-year low growth rate of 1 per cent in February, helped by robust growth in steel and coal output. According to data released by the Commerce and Industry Ministry on Monday, the eight core industries — coal, crude oil, natural gas, refinery products, fertiliser, steel, cement, and electri
Commerce and Industry Minister Nirmala Sitharaman has said that India should take lead in making quality products available to world at an affordable price. Inaugurating the 4th National Standards Conclave organized by the Department of Commerce in association with CII, BIS, EIC, FSSAI, APEDA and NABCB, she emphasized while standards as signifying quality are important but they also need to be
A UN commission has said that India's growth rate is expected to reach 7.5 per cent in 2018, but warned that if the US policies take a very severe protectionist turn and the trend spreads, growth could be affected by as much as 1.2 per cent in the coming years.
The UN Economic and Social Council for Asia and Pacific (ESCAP) survey on Monday said India's economic growth is proj
State-run oil marketing firms (OMCs) on Monday hiked the prices of subsidised cooking gas (LPG) by about Rs 2 per cylinder and of kerosene by 26 paise per litre.
The subsidised LPG price in Delhi was raised by Rs 1.87 per 14.2 kg cylinder to Rs 442.77. Prices vary by location as per applicable local taxes.
Besides, the price of subsidised kerosene was hiked by Rs 0.26 per li
In an impressive closure to the fiscal, the output of India's eight infrastructure industries in March increased by 5 per cent, from a growth of 1 per cent reported in February, buoyed by higher coal and steel production, official data showed on Monday.
The Eight Core Industries (ECI) index had reported a rise of 5.7 per cent in January 2016.
The cumulative growth for
The position of non-performing assets (NPAs) of public sector banks will worsen if the names of corporate wilful defaulters are not published immediately, leaders of bank officers' union said on Monday.
"The Reserve Bank of India (RBI) has been steadfastly refusing to divulge the names of top corporate wilful defaulters. In the days to come, the position of NPAs will worsen i
With its nominee Directors on boards of all the government-owned bank, the RBI cannot escape its responsibility for the huge non-performing assets of the banks, said a top union leader said here on MOnday.
All India Bank Employee's Association (AIBEA) General Secretary C.H. Venkatachalam also demanded a probe by a Parliamentary Committee or by the Central Bureau of Investigation (
State Bank of India has cut its term deposit rates by up to 50 basis points (bps) for amounts below Rs one crore with maturity period ranging from two to 10 years.
For deposits of two to three years, the interest rate has been reduced by 50 bps from 6.75 per cent to 6.25 per cent. For senior citizens, the term deposit rate for the similar period has been reduced from 7.25 per cent to
Prime Minister Narendra Modi on Monday called for aggressive efforts to deepen economic ties with Turkey.
Speaking at a business event here, Modi said India and Turkey were making efforts to build stronger political ties but it was time to take aggressive steps to strengthen the economic relations.
"Growth in bilateral trade over the years has been impressive," Mod
Turkish President Recep Tayyip Erdogan on Monday said that joint trade between India and Turkey should be balanced and steps should be taken to achieve that.
Speaking at a business event here, Erdogan said the two countries should move to achieve actual business potential of their ties.
"This meeting marks a new era of business relations," he said.
With the ongoing fluctuation in global crude oil rates, state-run Indian Oil Corp (IOC) has marginally hiked the price of transport fuels, of petrol by 1 paisa and of diesel by 44 paise both at Delhi with corresponding increases in other states, effective Monday.
Prices were last hiked on April 16 with a Rs 1.39 per litre increase in petrol and Rs 1.04 a litre raise in diesel rates.
Rajya Sabha's Deputy Leader of Opposition Anand Sharma on Saturday said ruling and opposition parties are like two wheels of a chariot, necessary to run democracy, a statement said.
Addressing the valedictory session of the annual session of business chamber Confederation of Indian Industry (CII) here, he also said that legislative scrutiny of the bills is necessary to ensure good
The Odisha government on Saturday approved nine projects with an investment of Rs 1,770.43 crore.
The State Level Single Window Clearance Authority (SLSWCA) meeting presided over by Chief Secretary A.P. Padhi approved the proposals in food processing, plastics, renewable energy and steel sectors.
At least 10 investment proposals from different companies were placed at SLSWCA
The Bombay Stock Exchange (BSE) on Saturday launched its Disaster Recovery Centre (DRC) here, a statement said.
BSE DRC is a replication of the primary site and ensures that all data is available at disaster recovery site with near zero time lag.
Among others, the automation tool provides a real-time monitoring of the sync status between primary and disaster recovery sites a
Finance Minister Arun Jaitley on Saturday said that the government expects to collect Rs 19-20 lakh crore in direct and indirect taxes in 2017-18, which could further increase if greater compliance was ensured.
The government reported a total tax collection of Rs 17.10 lakh crore during 2016-17, highest in last six years.
"This year we plan to collect Rs 19-20 lakh cror
The government is closely monitoring around nine lakh registered companies that had stopped filing annual tax returns with the Corporate Affairs Ministry after their registration, Union Revenue Secretary Hasmukh Adhia said on Saturday.
"Out of 15 lakh registered companies, only six lakh are filing annual income tax returns. Eight to nine lakh companies stopped filing any returns
Indicating greater compliance measures from government agencies in the days ahead, Finance Minister Arun Jaitley on Saturday said that India will be moving towards becoming a voluntary tax compliant society.
"We are moving from a developing state to a developed state. As we move from a developing economy to developed economy, we will also be moving to a voluntary tax compliant so
The mounting problem of bad loans of banks cannot be resolved by their simple recapitalisation and options like raising private capital for state-run banks need to be considered to deal with the issue, the RBI said on Friday.
"I wish to propose that we deal with the ailing public sector banks in creative ways instead of just propping them up with state aid," said Reserv
Digitisation is the future of the manufacturing market and India needs to embrace this change if it wants to grow rapidly, NITI Aayog CEO Amitabh Kant said on Friday.
At the Confederation of Indian Industry's Annual Session, Kant said while it took 150 years for Britain to double its per capita income, China did it in just 12 years "on the back of manufacturing".
Restoking the debate on the politically sensitive issue of taxing agriculture income, Chief Economic Adviser (CEA) Arvind Subramanian on Friday said that states have no constitutional restriction on taxing farm incomes.
"The legal situation is nothing prevents state governments from taxing agriculture income. The constitutional restriction is on central government taxing agricult
Union Urban Development and Housing Minister Venkaiah Naidu said on Friday that online demand for 8.97 lakh houses had so far been received under the Pradhan Mantri Awas Yojana (Urban) in Haryana.
"Faster and all-round, inclusive development is our motto to build a New India. The country is witnessing a new environment of aspiration and development," Naidu told media here.
India's foreign exchange (Forex) reserves rose by $1.25 billion as on April 21, 2017, official data showed on Friday.
According to the Reserve Bank of India's weekly statistical supplement, the overall Forex reserves increased to $371.13 billion from $369.88 billion reported for the week ended April 14.
India's Forex reserves comprise of foreign currency assets (
The ambitious Goods and Services Tax to be implemented from July 1 would help raise India's medium-term growth to above eight per cent, the IMF has said, but expressed concern over the health of the country's banking system. Observing that India is the "fastest growing emerging market economy" in the region, Tao Zhang, Deputy Managing Director of the International Monetary Fun
Private equity investments in the first quarter of this year fell to nearly 3-year low of USD 2.1 billion in the absence of big ticket deals, says a report as per the PTI.
According to the assurance, tax and advisory firm, there was a decline both in terms of value as well as volume of deals and PE investment values dropped to the lowest level in the last 11 quarters. There were 192 P
Abolition of the 25-year-old Foreign Investment Promotion Board (FIPB) is in the final lap and this will set the stage for more reforms in the FDI policy, Finance Minister Arun Jaitley said as per the PTI report.. He also said some "tough steps" are required so that India increasingly becomes a tax-compliant society.
Jaitley had in his Budget for 2017-18 proposed abolition o