Government expenditure likely to accelerate over next 2-years: Report

Government expenditure is likely to accelerate over the next two years and the Indian equity markets are expected to outperform its emerging market peers driven by pro-growth government policies, says a report according to the PTI. According to Deutsche Bank's India Equity Strategy Report, the final two years of every national government since the Narasimha Rao administration in 1991, have

Government extends service tax return filing date to Apr 30

The Centre has extended the last date for filing service tax return by five daysto April 30, in a relief to lakhs of service providers, reported PTI. "The CBEC hereby extends the date for submission of form ST-3 for the period from October 1 to March 31, 2017, from April 25 to April 30, 2017," the apex policy making body of the indirect tax department said in an office order. Every re

Railways continue to acquire land for Indo-Bangla rail link: Reports

The Indian Government has said that land acquisition has been continuing before starting construction work for the Indo-Bangla railway network from Tripura. Commenting on the issue, district Land Acquisition Officer PK Deb told the media, “The West Tripura district administration has started land acquisition process for Agartala-Gangasagar (Bangladesh) railway link and it was likely to be

UDAN makes air travel accessible to more people: Narendra Modi

Prime Minister Narendra Modi said on Thursday the UDAN regional connectivity scheme will make air travel accessible to greater number of people across the country.

"Looking forward to being in Shimla, where I will flag off the first UDAN flight under Regional Connectivity Scheme, on Shimla-Delhi sector," Modi tweeted. 

"UDAN makes air travel accessible to

U.S. Congress may seek one-week funding extension to avert shutdown

WASHINGTON  - The U.S. Congress inched towards a deal to fund the government through September but was preparing to possibly extend a midnight Friday deadline in order to wrap up negotiations and avoid an imminent government shutdown.

The one-week extension would give leading Republicans and Democrats "a little breathing room" to finish negotiations and

Niti Aayog backs local GM crop policy

NEW DELHI  - India could prevent foreign firms monopolising the market for genetically modified (GM) seeds by allowing the sale of only locally developed varieties, a government think-tank has said, in a boost for transgenic mustard produced by a Delhi group.

The Policy Commission said in recommendations this week to the government, and seen by Reuters, that adop

No plan to impose any tax on agriculture income, says Finance Minister

In response to a news report that NITI Aayog has recommended that farm income in India, Finance Minister Arun Jaitley on Wednesday clarified that the central government has no plan to impose any tax on agriculture income. The clarification came in response of several newspaper reports published on April 26th, 2017, that NITI Aayog or its draft three year action agenda has recommended that farm

Singapore launches $717 million fund to help intellectual property firms

SINGAPORE  - Singapore on Wednesday launched a S$1 billion ($717.31 million) fund to invest in companies with strong intellectual property profiles as part of a government push to establish the city-state as a global IP centre.

The Makara Innovation Fund (MIF), a partnership between the Intellectual Property Office of Singapore and local private equity firm Makar

Government to monetize 105 highway projects: Minister

The Indian Government has said that it will monetise 105 highway projects for about Rs 145,000 crore in the coming years as part of new innovative models of financing.

Commenting on the issue, Union Minister Nitin Gadkaritold the media, "The traffic density in India is very high and the internal return on rates is very good.

105 projects will be monetised (for about) Rs

Prices to come down under GST regime: Hasmukh Adhia

The Indian Government has said that prices will not increase due to higher incidence of taxes and are likely to come down under the Goods and Services Tax (GST) regime.

Commenting on the issue, Revenue Secretary Hasmukh Adhia told the media, "Almost 60 per cent of the income of the Centre and states comes from items that attract 14 per cent value added tax and 12.5 per cent excis

PFRDA eases 'retirement advisers' registration process

The government on Tuesday announced it was easing the process of registration of "retirement advisers", with the Pension Fund Regulatory and Development Authority (PFRDA) changing the process of submitting applications from the manual to the online mode.

"In order to smoothen the process of registration of Retirement Advisers, PFRDA has transformed the process of s

GST will not bring major hike in tax burden: Official

 Prices will not increase due to higher incidence of tax and, instead, are likely to come down under the Goods and Services Tax (GST) regime, the central government said on Tuesday.

"Almost 60 per cent of the income of the Centre and states comes from items that attract 14 per cent value added tax and 12.5 per cent excise duty. There will be a likely decrease in the tax

Indian farmers should pay tax, adviser says, challenging government

NEW DELHI - A senior adviser to the Indian government proposed on Tuesday that farmers pay tax, in remarks that challenged government policy in a country of 1.3 billion people where there are only 37 million income tax payers.

Economist Bibek Debroy, a member of the Policy Commission that serves as the government's own think-tank, told a news conference that farme

Government aims record foodgrain production at 273 MT in 2017-18

The government is aiming to achieve an all-time high 273 million tonnes of foodgrain production in the 2017-18 crop year beginning July, anticipating good monsoon.  

Foodgrain production is estimated to touch a record 271.98 million tonnes in the current year (July-June), as per the second estimate of the agriculture ministry.

"Foodgrain production target for next

government press to be upgraded at cost of Rs 338 cr

The government press at Minto Road here will be upgraded at a cost of Rs 338 crore, an initiative which will increase its production capacity from 16 lakh pages per day to 45 lakh pages per day.

The press meets printing needs of Parliament and various ministries and departments of the central government, among others. Some of the machines at the facility were installed in 1968 and non

Cabinet Secretary PK Sinha gets 1-yr extension

The Central Government has granted a year’s extension to Pradeep Kumar Sinha, who is an IAS of (UP:1977) batch, as Cabinet Secretary, as per the government release. His 2-year term is scheduled to end on June 12, 2017.

The Ministry of Personnel, Public Grievances & Pensions said in a statement that, “The Appointments Committee of the Cabinet has approved extension in s

Government extends SIPP scheme for 3 years till March 2020

The government has extended the startups intellectual property protection (SIPP) scheme for a period of 3 years till March 2020 to help budding entrepreneurs protect their patents, trademark and designs. Running on a pilot basis initially, the scheme was in force till March 31 this year. It is now being "extended further for a period of three years", the Department of Industrial Polic

Government policy would succeed if generic drug quality improves

 The Centre's steps to make doctors prescribe drugs by their generic names and not by their brand names may not have material impact without steps for improving the quality standards for drugs, investment banking firm Jefferies has said.

In a report issued on Sunday, Jefferies said: "In our view, without steps for improving quality standards for drugs available in the ma

SME IPOs catch investors eye, raise Rs 811 cr in FY17

Small and medium enterprises (SMEs) raised a staggering Rs 811 crore through initial public offerings in 2016-17, more than two-fold jump from the preceding fiscal, reported PTI. The huge fund-raising can be attributed to reforms and initiatives taken by the government to encourage the SME sector. Funds raised through the issue were used for business expansion plans, working capital requirement

India's March oil, gas output rise

NEW DELHI  - India's crude oil production in March inched up 0.94 percent to 3.1 million tonnes from a year ago, while natural gas output rose 8.92 percent to 2.75 billion cubic metres, provisional government data released on Monday showed.

Refinery production slipped 0.33 percent to 21.3 million tonnes.

(Reporting by Nidhi Verma; Editing by Malini

RBI to auction 15-days government cash management bill worth Rs 20,000 cr

The Reserve Bank of India on Friday said that it will auction 15-days Government of India Cash Management Bill worth Rs 20,000 crore on April 26, 2017. “The auction will be conducted using "Multiple Price Auction" method,” RBI said in a notification.

The maturity date of the 15-days Government of India Cash Management Bill is May 11, 2017. The competitive bids fo

Government to set up telemedicine centres in rural areas: Venkaiah Naidu

The Centre is in the process of setting up telemedicine centres in rural areas to allow patients have consultation with specialist doctors, Union Minister M Venkaiah Naidu said. The initiative will help people in making appointments at outpatient departments of hospitals, collect lab reports, share blood availability status in government hospitals that is accessible online, he said. Naidu said

FPI net inflow at Rs 18,890 crore in April so far

Foreign investors have pumped in a staggering USD 3 billion in the Indian capital markets this month so far as regulator Sebi has raised investment limit for FPIs in government debt. Most of the funds were invested in the debt markets during the period under review. "Foreign Portfolio Investors (FPIs) investing more in debt is mainly due to two reasons.

Sebi raised FPI investment

Investors not yet ruffled by looming government shutdown

By Chuck Mikolajczak and Saqib Iqbal Ahmed

NEW YORK - U.S. stocks have struggled since the timeline for the Trump administration's pro-growth agenda came into question, but investors appear confident that next week's deadline that could shut down the federal government will not become another market hurdle.

A new spending bill, or an extension of the

Sovereign gold bonds subscription to open on Monday

The government has said that the first tranche of the sovereign gold bonds (SGB) will open for public subscription on April 24. The issue price of the bonds has been fixed at Rs 50 per gram, less than the nominal value of gold and the bonds would earn an interest of 2.75 per cent per annum, payable every six months on initial investment, finance ministry said in a statement.

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