The Indian Railways has said that it is planning to install automatic flap gates with bar code scanners at stations to facilitate faster ticket checking and ease the pressure on ticket examiners and collectors. As per reports, to begin with, the access control system, already operational in Kolkata and Delhi Metro services, will be implemented at non-metropolitan stations where traffic rush is
The shipping ministry has said that it has asked the GST Council to exempt cruise tourism under the new indirect tax regime, in line with major cruising nations. At present, cruise tourism is not taxed and the shipping ministry wants to keep it out of the GST regime in order to boost the industry. Commenting on the issue, a Ministry of Shipping Official told the media, "Major cruising nati
India's garment exports are expected to register a 15-18 per cent growth in FY 18 as against USD 17 billion registered last year, a senior government official said. "We have clocked 18 per cent growth in garment exports since January 2017 and we hope that similar trend may continue for remaining period this year. Last year our garment exports stood at USD 17 billion," Textile Comm
Domestic passenger vehicle sales declined by 11.21 per cent to 198,399 units in June from 223,454 units in the same month last year. Domestic car sales were down 11.24 per cent to 136,895 units as against 154,237 units in June last year, according to data released by the Society of Indian Automobile Manufacturers (SIAM).
Motorcycle sales last month, however, rose 2.18 per cent to 964,
India's steel consumption grew by 4.6 per cent to nearly 21 million tonne in the first quarter of the current fiscal over the same period in 2016 while the country's steel exports jumped by nearly 66 per cent in the April-June period, a Ministry report said.
"India's consumption of total finished steel saw a growth of 4.6 per cent in April-June 2017 at 20.999 mt (mill
The GST is set to impart better competitiveness to micro, small and medium enterprises and provide them a level-playing field with large firms owing to factors like an easier process of availing input credit and simpler tax regime, according to a report. The joint study by Assocham and Ashvin Parekh Advisory Services said the Goods and Services Tax (GST) will lead to improved market expansion a
The Indian Railways has taken a big step to promote micro and small enterprises by reserving 358 items including cleaning apparatus, stationery and leather items exclusively for procurement from the MSE sector. Besides, in a relief to the MSEs, the sector has been exempted from paying tender cost and earnest money deposit for participating in the railway tender. "Though earnest money is re
The Reserve Bank of India has said that it will auction government securities worth Rs 100 billion under open market operations on July 20, 2017 using the multiple price method. “The Reserve Bank has decided to conduct sale of Government securities under Open Market Operations for an aggregate amount of Rs 100 billion on July 20, 2017 through multi-security auction using the multiple pric
The insurance industry needs a comprehensive over-haul across segments to boost performance as compliance cost is high and regulatory policy is less development oriented, says a report by former Irdai member "The regulatory framework and support system tends to over-regulate. Predictably the cost of compliance is high and regulatory policy is less development oriented," the report pre
Equity mutual funds have seen an inflow of over Rs 28,000 crore in April-June 2017, a surge of nearly three-times from the year-ago level, underpinned by investors' optimism, reported PTI. "Inflows in equity mutual fund schemes have been robust of late as investors chase higher returns in the wake of lower yields from fixed income instruments and poor performance by realty and commodit
Union minister Dharmendra Pradhan said the government is keen to promote green energy and it will intervene with the Goods and Services Tax (GST) Council to ensure that the GST rates on bio diesel and other green energy products are reduced, reported PTI. Pradhan, Union Minister for for Petroleum and Natural Gas was speaking at the inaugural session of Bioenergy Urja Utsava here.
A study has said that wind energy and solar power will be the cheapest form of power generation in every G20 country, including India, by the year 2030. The study carried out by Greenpeace Germany revealed that in about half of the G20 countries, renewable energy has been cheaper or equal in price to electricity generated from dirty coal or hazardous nuclear power plants since 2015.
The Goods and Services Tax (GST) will boost the competitiveness of micro, small and medium enterprises (MSMEs), the Associated Chambers of Commerce and Industry of India (Assocham) said on Sunday, citing its report on the unified pan-India indirect tax regime.
"From an MSME perspective, GST will bring many positives compared to the current systems such as easy process of av
For India to consistently grow at nine to 10 per cent over a three decade period, there is a need for "technological leap-frogging" which can happen only if an ecosystem is created to promote start-ups, NITI Aayog CEO Amitabh Kant said on Saturday.
Such an ecosystem can be created only by taking risks and by acceptance of "culture of failure" by parents and institu
Maharashtra farmers' panel chief Kishore Tiwari on Saturday demanded a special long-term package of Rs 40,000 crore from the NITI Aayog to resolve the agrarian crisis in the state's suicide-prone regions.
Speaking at the NITI Aayog's consultation meeting, Tiwari provided details of the plight of Maharashtra farmers which has recorded the highest rate of farmland suic
Tea traders on Saturday apprehended there will be no stocks of Darjeeling tea available for auction after a scheduled sale on July 18, if supply continues getting disrupted due to the ongoing agitation in the north Bengal hills.
Amid political crisis in the hills, tea plucking in the 87 gardens in Darjeeling continues to remain suspended from June 9 and the arrival of the world-f
The Maharashtra government has sought an explanation from a top IAS officer who wrote an article on last month's massive farmers agitation for a leading Marathi newspaper, a RTI reply revealed here on Saturday.
The IAS officer, Rajagopal Devara, found himself in a cleft stick after penning a commentary on the statewide farmers' agitation titled, 'Shetkari Ekjuticha Vi
The mergers and acquisitions (M&A) that may happen in the Indian banking sector may open up more opportunities for financial technology companies, said a top official of FIS-India.
The M&A may impact companies having CBS as their main product, but it is no longer the only source of truth for banks.
Incidentally, FIS had supplied CBS to Bharatiya Mahila Bank
The Telecom Regulatory Authority of India (TRAI) has invited entities to be part of a pilot to establish nationwide public data offices (PDO), an official statement said here on Friday.
"In India, access to data is still limited due to poor coverage of fiber/ telecom and prohibitive pricing of cellular data. Public Wi-Fi hotspots hold an important place in the last-mile deli
Union Commerce and Industry Minister Nirmala Sitharaman on Friday said the Centre wants to "revive" small savings which is currently "not as robust" as it was.
"Small savings is backbone of the economy. Small savings is not as robust as it was always. We want to revive it," Sitharaman said here.
Inaugurating a finance conference here o
Welcoming the roll-out of the Goods and Services Tax (GST) on July 1, the Consumer Rights Organisation (CRO) on Friday urged the government to keep the people informed about the implementing agency for the new tax regime for the benefit of traders and consumers.
"We are welcoming GST and we are supporting it. But we are keeping a strict vigil to safeguard interest of consume
Nasscom on Friday said the implementation of the GST will provide a huge oppotunity to the country's IT sector, including the software product segment, as small and medium businesses in India are expected to spend more than $25 billion by 2020 to become digitally enabled.
"GST provides a big opportunity for the (IT) industry. For the small and medium businesses, the larg
The issue of a high Goods and Services Tax on bio-diesel and other clean energy products would be taken up with the GST Council in order to effect a reduction in the tax rate, the government said on Friday.
"Petroleum and Natural Gas Ministry and the Ministry of Power would together intervene with the (GST) Council to ensure that the GST rates on bio-diesel and other green e
Harsimrat Kaur Badal, Union Minister of Food Processing Industry laid the foundation stone for first maize based Mega Food Park in Kapurthala, Punjab. Speaking on the occasion Harsimrat Kaur Badal said that Maize is an amazing cereal and is an alternate to Jhona (paddy) and Kanak (wheat). Maize is rich in protein, provides nutritional requirements that India needs and Maize consumes much lesser
Venture Capital investments slid to 78 deals worth USD 275 million during April-June this year, the lowest in any quarter for such investments in the last three years, says a report according to the PTI. According to data from Venture Intelligence, investment activity in the second quarter of 2017 was 25 per cent lower compared to the same period in 2016 (which witnessed 104 investments worth U