Government wants to pass GST bills through consensus: Finance Minister

Finance Minister Arun Jaitley said the GST bills are based on the principle of "shared sovereignty" and that the government wants to pass these landmark tax reforms through consensus, reported PTI. Jaitley was briefing the party MPs after BJP's parliamentary party meeting here which was also attended by Prime Minister Narendra Modi, Parliamentary Affairs Minister Ananth Kumar told

Coal India expects 2.5% production growth

After achieving a 9 per cent growth in coal production in the last financial year, Coal India expects to conclude this fiscal year with a 2.5 per cent growth in production and 2 per cent increase in coal off-take, an official said on Tuesday.

"We expect a production growth of 2.5 per cent by end of this fiscal and our off-take will have a 2 per cent growth," Coal India's

Arun Jaitley hopes GST bill will be passed through consensus

Describing the Goods and Services Tax (GST) bill as "revolutionary", Finance Minister Arun Jaitley on Tuesday hoped all the political parties would pass the related bills through consensus in the current session of Parliament.

Jaitley's remarks came at the BJP parliamentary party meeting which was also attended by Prime Minister Narendra Modi and other senior ministers o

Anil Ambani inducted on Atlantic Council advisory board

Reliance Group Chairman Anil Ambani has been inducted on the international advisory board of global think-tank Atlantic Council that has among its members former US National Security Advisor Zbigniew K. Brzezinski and former Australian Prime Minister Kevin Rudd, the company said on Tuesday.

"The Atlantic Council today (March 28) announced the induction of Anil Ambani to its Inter

Sensex recovers on global cues; Trump anxiety subsides

 Indian shares ended higher on Tuesday as losses in the previous session were seen as overdone, with sentiment also improving as Asian markets recovered after some of the anxiety about U.S. President Donald Trump's ability to push his agenda subsided.

The broader NSE Nifty ended 0.61 percent higher at 9,100.80 while the benchmark BSE Sensex closed 0.59 percent higher at 29,40

Moody's assigns (P)Baa3 ratings to the MTN program of IREDA

Moody's Investors Service, a global rating agency, on Tuesday assigned a (P)Baa3 long-term senior unsecured rating and (P)P-3 short-term rating to the USD 300 million medium-term note (MTN) program that was established by the Indian Renewable Energy Development Agency Limited (IREDA, local and foreign currency issuer rating: Baa3, standalone credit profile: ba3). The rating outlook is stabl

ICICI Bank partners Truecaller for UPI-based mobile payment

ICICI Bank today announced a partnership with mobile app firm Truecaller for a new UPI-based mobile payment service called Truecaller Pay. Truecaller Pay will allow users of the app to instantly create a UPI id, send money to any UPI id or a mobile number registered with the BHIM app, ICICI Bank said in a statement. It will also enable users to recharge their mobile number from within the Truec

Demonetisation has not affected prices of 22 essential items: Ram Vilas Paswan

The note ban decision has not affected the prices of 22 essential commodities, including foodgrains, the Lok Sabha was informed according to the PTI report. Food and Consumer Affairs Minister Ram Vilas Paswan said changes in prices of the 22 items including pulses, onion and tomato vis-a-vis on the day of demonetisation are being monitored on a daily basis.

Around 3.89 lakh tonne of w

Meghalaya government to issue securities worth 125 cr under UDAY scheme

The Reserve Bank of India on Monday notified that Meghalaya government has proposed to issue special securities worth Rs 125 crore, under the Ujjwal Discom Assurance Yojna Scheme (UDAY). “Eligible market participants interested in subscribing to these special securities are advised to email their bids as per the format given below between 10.30 am to 12.00 noon on March 29, 2017,” R

India, Vietnam to strengthen bilateral relations via cinema

Collaboration in the field of films, broadcasting and information dissemination would strengthen the ties between India and Vietnam, said M Venkaiah Naidu, Minister for Information & Broadcasting. During meeting with Vietnamese delegation led by Minister of Information and Communications, Government of Vietnam Truong Minh Tuan, Naidu said that, “Cooperation in the field of institution

India imposes 10 percent import duty on wheat - TV

NEW DELHI  - India has imposed 10 percent import duty on wheat, CNBC-TV18 news channel reported on Tuesday without citing sources, reinstating the tariff after a gap of nearly four month following big purchases from overseas in recent months.

India, the world's second-biggest wheat producer, lowered the import tax on the grain to 10 percent from 25 percent la

Railways undertakes IT initiative for faster data analysis: Reports

The Indian Railways has said that it has undertaken a major IT initiative for an integrated software which can optimise about Rs 50,000 crore for the national carrier over the years. As per reports, the integrated software IR-OneICT, a first-of-its-kind for Railways, will enable data collection at sources with minimum handling and become a single source of validated and authentic information fo

Central GST Bill to apply pan-India except J&K for now

India moved a step closer to becoming a unified market in line with the federalist vision of the architects of its Constitution with the tabling in Parliament on Monday of the GST Bill, which extends pan-India except to Jammu and Kashmir.

Union Finance Minister Arun Jaitley introduced the Central Goods and Services Tax (CGST) Bill, 2017, along with three other related bills in the Lok

Airtel sells over 10% stake in subsidiary for Rs 6,100 cr

Telecom major Bharti Airtel on Tuesday announced the sale of 10.3 per cent stake in subsidiary Bharti Infratel to a consortium of funds for over Rs 6,190 crore ($951 million).

"Bharti Airtel announced the successful completion of the secondary sale of over 190 million shares of its subsidiary Bharti Infratel Ltd, representing 10.3 per cent, to a consortium of funds advised by KKR

Indian equities trade higher on positive global cues

Positive global cues and healthy buying in banking, automobile and healthcare stocks lifted the Indian equity markets during the mid-afternoon trade session on Tuesday.

The wider 51-scrip Nifty of the National Stock Exchange (NSE) rose by 55.15 points or 0.61 per cent to 9,100.35 points.

The barometer 30-scrip sensitive index (Sensex) of the BSE, which opened at 29,301.22 po

Global stocks, dollar recover as markets try to move past Trump's policy stumble

By Nichola Saminather

SINGAPORE - Asian stocks advanced on Tuesday after Wall Street stabilized and the dollar was steady, as anxiety over Donald Trump's setback on healthcare reform gave way to tentative hopes for the U.S. president's planned stimulus policies.

European markets were also set for a stronger start, with financial spreadbetters expecti

Gold steady, investors focus on Trump agenda

By Pratima Desai

LONDON - Gold prices held steady near one-month highs on Tuesday, supported by political and economic uncertainty in the United States and expectations of a lower dollar.

Spot gold was little changed at $1,253.41 an ounce at 1124 GMT, after touching its highest in a month at $1,261.03 on Monday. U.S. gold futures inched down 0.2 percent to $

Oil lower again on doubts over duration of output cut

By David Gaffen

NEW YORK  - Oil resumed its slide on Monday as investors remained uncertain whether producing nations would extend an OPEC-led output cut beyond the end of June in an effort to reduce a global glut of crude.

On Sunday, a committee of ministers from OPEC and outside producers agreed to look at prolonging the deal, stopping short of an ear

Indian Oil to supply fuels to Nepal for five years

NEW DELHI  - Indian Oil Corp has agreed to supply refined products to Nepal for the next five years to meet all the fuel needs of the landlocked Himalayan nation, officials said on Monday.

India has supplied all Nepal's fuel needs since 1974 and is keen to maintain close trading ties with its neighbour in South Asia, an area where regional rival China has sou

Vedanta's Agawal says happy with his 13 percent of Anglo American

NEW DELHI - Indian billionaire Anil Agarwal said on Monday he was happy with his personal 13 percent stake in mining company Anglo American and was just planning to keep it as an investment for now.

"I got the opportunity to take 13 percent share of that company because I also believe that India and Africa go hand in hand," Agarwal told a business summit.

New board for indirect taxes to become operational from June 1


The Central Board of Indirect Taxes and Customs (CBIC), which will replace the current CBEC, will become operational from June 1 in preparation for the Goods and Services Tax (GST) regime, an official source said.

The Central Board of Excise and Customs (CBEC) is presently the top policy-making forum for indirect taxes in the country. 

"The CBIC will become

Indian equities subdued on negative global cues

Negative global cues and heavy selling pressure witnessed in metal, automobile, and healthcare stocks subdued the Indian equity markets during the mid-afternoon trade session on Monday.

The global markets were spooked as US President Donald Trump's failure to overturn his predecessorBarack Obama's healthcare reforms and increased concerns over his ability to implement economic

26 companies want to collaborate with India Post Payments Bank

Communications Minister Manoj Sinha on Monday said 26 banking and non-banking companies have shown interest to collaborate with India Post Payments Bank.

"The Department is in various stages of discussions with them. A decision on formal partnerships will be taken after carefully evaluating the entire value proposition they propose for the common man," Sinha said in a reply

Lenovo announces new data centre business leadership

In a bid to accelerate its global data centre business growth, Chinese technology giant Lenovo on Monday appointed Kim Stevenson as Senior Vice President and General Manager of its new Data Centre Infrastructure (DCI) business segment.

Apart from Stevenson's appointment, the company announced new roles for three other executives for its global data centre senior leadership team.

Government's big solar push could run into land hurdle

The Union cabinet decided last month to double India's solar power generation capacity, from 20 GW to 40 GW, by setting up 50 solar parks, which are solar projects with a capacity of 500 MW or more concentrated in one area. But this additional 20 GW would mean acquisition of at least 80,000 acres of land, thrice Jaipur's area, and possibly a problematic move in a land-starved country.