Labour migration rising at an accelerating rate: Finance Minister

The new estimates of labour migration in the country have revealed that inter-state labor mobility is significantly higher than previous estimates, as per the Economic Survey 2016-17 tabled by the Finance Minister Arun Jaitley.

The Survey further stated that, the study based on the analyses of new data sources and new methodologies also shows that the migration is accelerating and was

Rail Budget to focus on safety, infrastructure development

A safety fund of Rs 20,000 crore for railways reeling under a series of deadly derailments, development of new lines, station redevelopment and setting up of Rail Development Authority and High Speed Rail Authority will be in focus as Finance Minister Arun Jaitley presents the first Rail Budget subsumed in the General Budget tomorrow, reported PTI.

Going ahead with the government'

Highest capital outlay for railway modernization

President Pranab Mukherjee on Tuesday said the highest capital outlay of Rs 1.21 lakh crore has been provided for railway modernization with major emphasis on track development in the northeast.

"For modernization of railways, the highest-ever capital outlay of Rs 1.21 lakh crore has been provided," Mukherjee told a joint session of Parliament. 

The President

Government taking various measures to provide healthcare to all: President

President Pranab Mukherjee on Tuesday said that the government has taken several initiatives to provide healthcare to all, including an immunisation programme that helped 55 lakh children, said media reports.

Commenting on the issue, President Pranab Mukherjee said, "My government has taken several initiatives in the healthcare sector, basically to make it affordable for the poor

Six telecos added 8.18 million subscribers in December: COAI data

According to COAI data, six telecom operators, including Airtel, Vodafone and Idea Cellular added a net 8.18 million subscribers in December to take the total number of users to 809.99 million. The COAI data showed that the operators had added 10.19 million users on net basis in November last year.

Commenting on the issue, COAI Director General Rajan S Mathews told the media, "Gr

Railways becoming a soft target: Minister

The Railways expressed concerns over a series of rail mishaps in the recent past allegedly due to outside interference and said it was becoming a soft target. Commenting on the issue, Minister of State for Railways Manoj Sinha told the media, "I feel that Railways is the most soft target. I do not have any problem in accepting it."

"Law and order is subject of state gov

India to explore mining potential with massive aerial survey

NEW DELHI - India will launch its biggest aero geophysical survey of minerals next month to unearth deep-seated resources such as gold and copper, as it seeks to develop its mining industry and reduce its dependence on imports.

The survey will cover more than 200,000 square kilometres across seven states from Rajasthan in the west to the southeastern state of And

Demonetization to boost liquidity, improve margins for banks: Survey

The Modi government’s demonetisation of Rs 500 and Rs 1,000 banknotes, which constitutes over 86 per cent of the total value of currency in circulation, is hailed by bankers as it has emphasized on the digitalization of the banking services which will aid reduction in cost of transactions for banks over the long term, reveals a recent survey. According to FICCI-IBA survey, there has been

Rural housing targets in 2016-17 absolutely doable: MoRD

The ministry of rural development has completed 21.57 lakh houses in 2016-17 so far, nearly double of what was being completed each year in the 2012-13 to 2014-15 period, according to an official statement. Department of Rural Development was given a target to complete 33 lakh houses in 2016-17.

These included houses that were taken up under the Indira AwaasYojana (IAY) and were incom

Solar players expect tax incentives in budget, uncertainty over GST remains

 Amid uncertainties over the impact of Goods and Services Tax (GST) and Make in India programme being affected by falling prices of Chinese modules, solar manufacturers and developers are expecting tax incentives and policy drive to make unused money of clean energy fund available to the sector in the forthcoming union budget.

Solar players said continuation of the appreciated de

RBI extends directions issued to Hardoi Urban Co Bank

The Reserve Bank of India has said that it has extended directions issued to the Hardoi Urban Co-operative Bank Ltd., Hardoi for a further period of six months from January 30, 2017 to July 29, 2017, subject to review.

The bank has been under directions issued under Section 35A of the Banking Regulation Act, 1949 (AACS) since July 29, 2016. The same has further been extended upto July

RBI extends directions issued to Mahamedha Urban Co Bank

The Reserve Bank of India on Friday said that it has extended directions issued to the Mahamedha Urban Co-operative Ltd., Ghaziabad for a further period of six months from January 30, 2017 to July 29, 2017, subject to review.

The bank has been under directions issued under Section 35A of the Banking Regulation Act, 1949 (AACS) since July 29, 2016. The same has further been extended up

Implementation of Government schemes to revive metal industry: Dun & Bradstreet

A report has said that growth in internal demand, implementation of government schemes and new measures will play a vital role in reviving the domestic metals industry in 2017. Commenting on the issue, a Dun & Bradstreet (D&B) Official told the media, "The Indian metals industry passed through a period of turbulence in 2015 and 2016.

However, the government's recent m

Aadhaar to be made mandatory to avail rail concession: Reports

The Indian Government has said that it is contemplating to make Aadhaar or Unique Identification (UID) card mandatory to avail rail concession, and an announcement is likely to be made by Finance Minister Arun Jaitley while presenting the first combined General and Railway Budget on February 1. According to sources, the move will help the government in better targeting of benefits and check mis

India to witness sharper growth in coming years: PwC

A PwC report has said that emerging market economies like China and India, which have been growing much faster than the US, Europe and Japan, are expected to witness even sharper jump in the coming years. As per reports, key markets showing positive growth also include Indonesia, Turkey, Poland, Egypt and Bangladesh. Besides, Iran too is expected to witness a steep jump in growth following the

Government to invest Rs 15,000 cr to develop nation highways in Assam

The Indian Government has said that it will invest Rs 15,000 crores to develop 1,253 kilometres of roads in Assam into National Highways over the next few years. Commenting on the issue, Union Minister Nitin Jairam Gadkari told the media, "When Assam Chief Minister Sarbananda Sonwoal met me, he demanded to declare 1,253 kilometres of state roads as National Highways. Today I am declaring t

Government spending huge amount to modernise railways: Minister

The Rail Minister has said that the central government is spending huge amounts to modernise infrastructure, particularly in the railways sector to push growth. Commenting on the issue, Railways Minister Suresh Prabhu told the media, “The government will invest more in railways this year as compared to the previous years.”

"Railways used to put Rs 30,000- Rs 40,000 cr

For LIC, Jeevan Akshay plan a cash cow

The national life insurer Life Insurance Corporation of India (LIC) has so far seen a healthy 81.6 per cent growth in first premium income for the current financial year against the same period last year, driven by robust sales of the single-premium immediate annuity plan Jeevan Akshay, as per the media reports.

The insurance behemoth is also set to breach the full-year target, said t

Housing sector biggest gainer from demonetisation: Minister

The Indian Government has said that housing sector is the biggest beneficiary of demonetisation as interest rates have fallen. Commenting on the issue, Union Minister M Venkaiah Naidu told the media, "...every note has come back to the bank and note is followed by an address...whether it is white or black that will be known after its scrutiny." “If tax net widens, the interest r

CII calls for smooth tax dispute settlement proviso in budget

The Union Budget 2017-18 to be presented on Wednesday should provide for a smooth and effective taxation dispute settlement mechanism towards minimising disputes and reducing unnecessary litigation, industry chamber CII said on Sunday.

"A simple, predictable and litigation free tax environment involving quick and efficient resolution of disputes is crucial for improving tax compl

Budget to be tough exercise post-note ban: Assocham

 Notwithstanding the high expectations of cuts in corporate and income tax rates in Wednesday's first Union Budget post-demonetisation, Finance Minister Arun Jaitley will have his task cut out owing to the stress the small scale and rural sectors have felt, as well as the possible impact of implementing GST, industry chamber Assocham said on Sunday.

"Meeting the excessiv

Movement towards digital transactions to continue: Narendra Modi

Stressing the benefits of a less cash society, Prime Minister Narendra Modi on Saturday said India would continue moving towards digital transactions and called upon the youth to make it successful.

Addressing a rally of the National Cadet Corps (NCC) here, Modi also said the cadets can play a catalytic role in helping the citizens inculcate the habit of cleanliness. 


Cellular operators ask TRAI to stop BSNL`s app-based service

The Cellular Operators' Association of India (COAI) has written to Indian telecom regulator TRAI to seek its intervention to immediately stop state-run BSNL's app-based calling service.

"We request your kind intervention in issuing an immediate direction to the BSNL (Bharat Sanchar Nigam Ltd.) for withdrawing this app-based calling service," Rajan S. Mathews, Directo

Housing finance economics to face roadblocks, says Ind-Ra

The large-ticket housing loan segment (primarily ticket size above INR5 million) is likely to face disruption, as housing finance companies (HFCs) would be forced to realign their strategies in view of a sharp reduction in lending rates by banks, says India Ratings and Research (Ind-Ra).

This may affect business growth for HFCs, on account of increased competitiveness of banks. This c

Property sales in India to fall by 20%-30% in 2017: Fitch Rating

Fitch Ratings, a global rating agency, expects property sales in India to fall by at least 20 per cent-30 per cent in 2017, owing to disruption caused by demonetisation and general caution on the part of buyers. Homebuilders already have high levels of unsold inventory and are likely to cut selling prices as demand weakens.

We expect risks to homebuilders to rise further this year, wi