The average housing prices rose by 8.7 per cent in April-June quarter across ten major cities of the country over the year-ago period, said the PTI report according to RBI. However, the growth in prices has moderated over the previous quarter when the annual growth was 10.4 per cent. The Reserve Bank of India released the Housing Price Index (HPI) for the first quarter of this fiscal.
Three months into GST rollout, the new indirect tax regime has consistently given Rs 93,000- 94,000 crore in taxes every month on back of encouraging response from the industry, Finance Minister Arun Jaitley said as per the PTI report. On a day the government announced waiver of late fee for those who filed late tax returns for months of August and September, he indicated rationalisation of GST
Seeking to boost note ban and GST-hit economy, Finance Minister Arun Jaitley announced a massive Rs 6.92 lakh crore infrastructure spending and another Rs 2.11 lakh crore for bank recapitalisation to revive investments as well as growth, reported PTI. Flanked by all his five secretaries and Chief Economic Advisor, Jaitley reeled out economic indicators to support government contention that GDP
The Reserve Bank said it has imposed a penalty of Rs 6 crore on Yes Bank for non-compliance of norms related to classification of bad loans and delayed reporting of cyber attack on ATMs, reported PTI. The central bank has also imposed a penalty of Rs 2 crore on IDFC Bank for contravention of regulatory restrictions pertaining to loans and advances. Both the penalties were imposed yesterday, the
Finance Minister Arun Jaitley on Tuesday said that the number of trade registrations under GST has seen an increase of 30-35 per cent in the first three months, and that the total assessee base has already crossed one crore, which is an "encouraging" indicator.
"Till now the trade registrations for Goods and Services Tax (GST) is very encouraging; 72 lakh traders
By Devidutta Tripathy
NEW DELHI - India's cabinet approved a $32.43 billion plan on Tuesday to recapitalise its state banks over the next two years, in a bid by Prime Minister Narendra Modi to tackle a major drag on the economy that has frustrated his attempts to boost growth.
Once the world's fastest-growing major economy, India has seen its g
The government decision to infuse Rs 2.11 lakh crore in public sector banks and spend Rs 14 lakh crore on infrastructure projects has received the thumbs up from India Inc.
"The decision to invest in PSU (public sector undertaking) bank recapitalisation should result in increased lending, especially to the MSME (micro small and medium enterprises) sector," said Pankaj
The government said on Tuesday that a universal affordable housing scheme will give a big boost to the construction industry as 1.2 crore dwellings will be built in three years under PMAY's urban component and another 1.02 crore units under its rural component by March 2019.
"The universal affordable housing for all will give a big boost to the construction industry," Fi
The Union Cabinet on Tuesday approved road building programmes of around Rs 7 lakh crore with a target to construct 83,677 km of roads in the next five years.
These programmes, including Bharatmala project of around 35,000 km with an investment of Rs 5.35 lakh crore, are likely to create 14.2 crore Mandays of jobs.
"The Bharatmala project include 9,000 km of economic co
In a major bid to boost flagging economic growth and increase bank credit flow, the Union Cabinet on Tuesday accorded approval for a massive recapitalisation plan for state-run banks worth Rs 2.11 lakh crore.
Of this amount, a sum of Rs 1.55 lakh crore will be raised through recapitalisation bonds, Financial Services Secretary Rajiv Kumar told reporters here following a meeting
India's Goods and Services Tax (GST) collections in September totalled Rs 92,150 crore and were collected from 42.91 lakh businesses, the government announced on Tuesday.
"The total revenue in GST regime under different heads (up to October 23) for September 2017 is Rs 92,150 crore," a Finance Ministry statement said here.
Of this, Rs 14,042 crore is on account
NEW DELHI - India will raise the price at which the government will buy new-season wheat from local farmers in 2018 by 110 rupees ($1.69), or 6.8 percent, the minister of agriculture said on Tuesday, to boost local wheat output.
The revised purchase price of 1,735 rupees ($26.66) per 100 kg compares with 1,625 rupees a year ago, Radha Mohan Singh said in a tweet
Breaking News - Finance Minister Says - Government Had Detailed Discussion On The Economic Situtaion