Economy

Defense corridors, new airports will boost employment in the new Uttar Pradesh: PM Modi at UP Investors Summit

Uttar Pradesh Investors Summit was inaugurated by Prime Minister Narendra Modi amidst top investors and delegates. Considering every particular factor that excels UP in every form, PM Modi said hosting such a mega-investor summit at such a wide level in Uttar Pradesh, so many investors and entrepreneurs are united in the investor summit, there is a big change in itself...

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CBI intensifies its probe in #PNBScam ; arrests GM rank officer of Punjab National Bank

The Central Bureau of Investigation (CBI) moving ahead with the strict probe in the Rs 11,378.68 Crores loan fraud case has arrested 6 people including General Manager rank officer of Punjab National Bank, Rajesh Jindal...

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#PNBScam : CBI arrests 3 more officials of Punjab National Bank

The Central Bureau of Investigation (CBI) on Monday arrested three more employees of the Punjab National Bank in connection with the Rs 11,378.68 Crores loan fraud case involving billionaire jeweller Nirav Modi. The move comes after the probe agency sealed Brady House branch of Punjab National Bank in Mumbai. However, Supreme Court will hear on Friday a PIL that sought a probe by a Special Investigation Team in the Punjab National Bank scam...

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This is the world's third-most valuable company

In a first-time ever, Amazon has become the world's third most valuable company with a market capital of $702.5 billion which is ahead of Microsoft's market capital of $699.2 billion...

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CBI seals Brady House branch of Punjab National Bank in Mumbai, from where #PNBScam was originated

Central Bureau of Investigation (CBI) taking a stringent action sealed Brady House branch of Punjab National Bank in Mumbai on Monday morning from where the Rs 11,378.68 Crores PNB scam was originated. Notably, the biggest fraudulent case hit Mumbai on Wednesday last week where Punjab National Bank reported that it has detected fraudulent and unauthorized transactions in one of its branches in Mumbai. The cumulative fraud amounts to US $1,771.69 billion i.e. Rs 11,378.68 Crores...

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The plan to double farmer’s income can play well for India’s gold market too: World Gold Council report

In the Indian market, gold holds a high economic value. The country accounts for around a fifth of annual global gold demand. While until now policymakers could not use this in a positive way, World Gold Council predicts the newly panned budget of Arun Jaitley might bring a change to this...

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RBI denies media claims about instructions to PNB to meet commitments under LoU

The RBI said the fraud in PNB is a case of operational risk arising on account of delinquent behaviour by one or more employees of the bank and failure of internal controls...

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Ola 'Auto Unnati' launched to ensure healthy ecosystem for Auto driver

In a first such program, Ola has successfully launched 'Auto Unnati' program to assist its auto driver partners through the firm's ‘Chalo Befikar’ insurance program, family welfare initiatives etc...

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MEA suspends passports of Nirav Modi, Mehul Choksi for 4 weeks in #PNBScam

Taking a step forward in the Rs 11,378.68 Crores Punjab National Bank scam, the Ministry of External Affairs has suspended the passports of diamond merchant Nirav Modi and Gitanjali Gems owner Mehul Choksi for four weeks on Friday...

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Google takes off the “View Image” button, did you notice?

Did you notice that Google has taken off the “View Image” button! Yes that’s true… Go to the image you want to download and then head to Google Image and click on the image, you won’t see the “View Image” button anymore! ..

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Wholesale inflation at 6-month low of 2.84% in January

Wholesale inflation down to a six-month high of 2.84 percent in January this year, as prices of food articles, declined. The previous low level was recorded in July at 1.88 percent...

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Walmart to shake hands with Flipkart: Plans to buy 40 percent stake giving a fight to Amazon

Online shopping has now become a trend and also a mode of ease because you can get everything online at your doorstep. Even the online companies have a good competition amongst themselves. So to give a fight to the rivals they use tactics. Walmart Inc is in talks to purchase a stake of more than 40 percent in Indian e-commerce firm Flipkart, a direct challenge to Amazon.com Inc in Asia’s third-largest economy...

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PNB Scam: ED raided 17 premises of Nirav Modi and Geetanjali Gems, Jewels of Rs 5100 Cr seized

Following the raids over $1.77 billion Punjab National Bank scam, the Enforcement Directorate has raided 17 premises across the country related to Jeweller Nirav Modi and Geetanjali Gems. The ED also seized jewellery worth Rs 5,100 crores, in gold, diamond and other precious stones while raiding Nirav Modi's showrooms...

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Good news for every youngster! Import duties on performance bikes reduced

In a massive news for youngsters and people who want to purchase a new bike as the Centre has dropped the custom duty on imported bikes by 25%. With this, the duty on bikes from brands such as Harley Davidson and Triumph Motorcycles, will be 50% from earlier 75%. Also, the Government has reduced import duty on engine, gearbox, or transmission mechanism to 25% as against 30% charged earlier...

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Ravi Shankar Prasad hits out at Congress for linking Nirav Modi with PM Modi in #PNBScam; says guilty will not be spared

Law Minister Ravi Shankar Prasad on Thursday slammed Congress Party for linking Punjab National Bank fraudulent Nirav Modi with Prime Minister Narendra Modi. He said, calling Nirav Modi as ‘Chhota Modi’ is derogatory, scandalous and demeaning and further added that the central government will not spare the guilty in the Rs 11,378.68 Crores Punjab National Bank scam...

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Know Nirav Modi, the man behind the India’s biggest corporate fraud

While the Punjab National Bank fraud case has just come into light, the perpetrator has been identified too. He is Nirav Modi, a renowned jewellery designer who has stores in US, Beijing, Hong Kong, and India...

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Amazon emerges as the world’s third most valuable company

Another landmark success for e-commerce giant Amazon as it has dethroned Microsoft to become the third most valuable company in the world. Amazon stock surged 2.6 percent closing at $1,451.05 a share on Wednesday leading its way for crossing Microsoft first time...

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Punjab National Bank Scam: Billionaire Diamond Merchant Nirav Modi pops up in probe; PNB Stocks plunge by 10%

One of the biggest fraudulent case hit Mumbai on Wednesday where Punjab National Bank reported that it has detected fraudulent and unauthorized transactions in one of its branches in Mumbai. The cumulative fraud amounts to US $1,771.69 billion i.e. Rs 11,378.68 Crores...

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Punjab National Bank in Mumbai detects fraudulent transactions of around $1.7 bn

Punjab National Bank informed today that it has detected fraudulent and unauthorized transactions in one of its branches in Mumbai. The cumulative fraud amounts to US $1,771.69mn i.e. Rs11,378.68 Crores...

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Simplifying framework for resolution of stressed assets: What RBI actually says

The new guidelines issued by RBI vide ‘DBR.No.BP.BC.101/21.04.048/2017-18’ dated February 12, 2018, are meant for Scheduled Commercial Banks (UCBs, RRBs excluded). The guidelines seek to harmonise and simplify the framework for the resolution of stressed assets, especially in the light of the enactment of the Insolvency and Bankruptcy Code, 2016 (IBC), replacing its existing guidelines. ..

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RBI introduces revised framework to tackle bad loans

The Reserve Bank of India (RBI) has announced that it is looking forward to introducing a new system which will allow lenders to identify and tackle any stressed-asset accounts with ease. The main aim is to clear all the current mechanisms that tackle bad debts at Indian banks and replace them with a simplified framework. ..

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India, Bangladesh discuss ways to boost bilateral trade and economic relations

In a bid to strengthen mutual ties, India and Bangladesh holds Commerce Secretary level talks, were held on 7th-8th February at Dhaka. The Indian delegation was led by Rita Teaotia, Commerce Secretary and the Bangladesh delegation was headed by Shubhashish Bose, Secretary, Ministry of Commerce, Government of Bangladesh...

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Don’t fall into the trap! RBI warns against fake website in name of it

A fake website in the name of Reserve Bank of India (RBI) is trying to make citizens fool. Noticing the fraudulent activity, RBI has issued a warning about the fake site to prevent people falling into the cheater’s trap...

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Adani Group aims to build 5 million-tonne-per-annum LNG import terminal

One of the leading companies, Adani Group has decided a 5 million-tonne-per-annum LNG import terminal at Mundra in Gujarat state on the west coast of India, part-owned by the Group, will likely be operational in April or May, a senior company official said on Wednesday...

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#RBIPolicy : Repo Rate remains unchanged at 6%; Reverse Repo Rate at 5.75%

Eyeing rising retail inflation, the Reserve Bank of India (RBI) kept its key policy rate unchanged at 6.00% in its sixth bi-monthly monetary policy review on Wednesday. Also, the RBI has lowered economic growth projection to 6.6 percent for 2017-18, from 6.7 percent...

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Sell-off in equity markets is due to global shakeup says Hasmukh Adhia

Finance secretary Hasmukh Adhia said the sell-off in India's equity markets is due to weak global sentiment and not because of the long-term capital gains tax (LTCG) announced in the budget...

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Centre allocates Rs 5,252 Cr for Railway Infrastructure of Odisha

Odisha got its budget railway infrastructure development which costs around Rs 5,252 Crores. Centre has allocated Rs 5,252 Cr for the railway infrastructure development in Odisha, Umesh Singh, the general manager of East Coast Railway said...

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Biggest crash in stock market as Sensex sinks over 1000 pts; Nifty below 10300

The SENSEX crashed by over a 1,000 points and is trading at 33,736.30, while the NIFTY is down by 300 points and more to trade at 10,355.20. Shares went down in Asia as US markets witnessed the biggest drop in the Dow Jones industrial average since 2011...

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Suresh Prabhu kicks off consultations on ‘New Industrial Policy’

Commerce and Industries Minister Suresh Prabhu set off a series of nation-wide consultations with the industry on the proposed new Industrial Policy. In his speech, the Minister emphasised that this exercise being done after 25 years truly listens to and objectively equips Indian industry for the future. The prior attempts in 1956 and 1991 were formulated at a time of financial crisis...

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Fadanvis unveils four new schemes in farm and allied sectors

Over 2.5 lakh youths to be trained in farming and allied business; interest-free loans for promoting group farming and self-help groups..

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GST Commissioner and 6 others held for taking bribes on monthly, quarterly basis

The Central Bureau of Investigation (CBI) has arrested a GST commissioner Sansar Chand from Kanpur and six others, including 3 officials, were held for taking a bribe. The accused used to collect bribes from businessmen and industrialists on a regular basis...

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Political Message of Budget 2018 – Widening the BJP Support Base

This 2018 budget is also dominated by steps that strengthen the hands of farmers, micro and small businesses. It seeks to provide strong base of healthy life with the biggest public health program. ..

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Another setback for ex-Haryana CM Hooda: CBI files chargesheet against him and 33 others

The Central Bureau of Investigation on Friday filed a chargesheet against former Haryana Chief Minister Bhupinder Singh Hooda who is allegedly connected with a huge land scam in Haryana. The charge sheet was filed against 33 others along with the ex- Haryana CM in the Panchkula CBI court. ..

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India joins Ashgabat agreement to set up international transport, transit corridor linking central Asia with Persian Gulf

India has signed many international pacts with other nations in a bid to boost trade and economy of the country. Notably, India on Thursday joined the Ashgabat agreement which envisages setting up of an international transport and transit corridor linking central Asia with the Persian Gulf to significantly ramp up trade and investment. ..

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#Budget2018 introduces World’s largest govt funded health care programme to cover over 10 crore poor families

The latest 2018-19 budget will definitely bring relief to lower middle and poor class citizens. Vision of Budget 18-19 reflects the old proverb health is wealth. l launch a flagship National Health Protection Scheme to cover over 10 crore poor and vulnerable families (approximately 50 crore beneficiaries) providing coverage upto 5 lakh rupees per family per year for secondary and tertiary care hospitalization...

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India performs incredibly and tops with a boost of 25% in wealth market

India was the best performing wealth market globally in 2017 as its total wealth swelled from 6,584 billion dollars in 2016 to 8,230 billion dollars in 2017, registering a 25 percent growth...

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India's Ola now travelling to Australia

Indian cab aggregator Ola is all set to launch its services in Australia in next few weeks in its first international expansion. The company has started recruiting drivers in Sydney, Melbourne and Perth...

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Maharashtra, Gujarat, Karnataka, Tamil Nadu and Telangana accounts to 70% of India’s international exports

Maharashtra tops in the state that contributes to the total international exports of the country. Maharashtra along with Gujarat, Karnataka, Tamil Nadu and Telangana contribute to 70% of total international exports of India...

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Amazon India injects jumbo capital of 1960 Cr to battle against rivals

Online shopping has now become a trend and also a mode of ease because you can get everything online at your doorstep. One of leading online shopping company Amazon has injected a fresh capital of 1960 crores to fight against its rival, Flipkart...

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Artificial intelligence and robotics will be a threat to humans

Jack Ma..

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Economic Survey: Indirect taxpayers surges by 50%; GDP estimated to 7-7.5% in FY19

The Union Finance Minister Arun Jaitley having tabled the economic survey in Parliament today envisaged a 7-7.5% growth rate in India's GDP for 2018. "A series of major reforms undertaken over the past year will allow real GDP growth to reach 6.75% this fiscal and will rise to 7.0 to 7.5% in 2018-19," says Economic Survey tabled in Parliament. Also, the GST implementation led to the rise in indirect taxpayers by 50%...

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Finance Minister Arun Jaitley unveils ‘Banks Recapitalization Plan’ to strengthen Public Sector Banks

In regard to the bank recapitalization package, Union Finance Minister Arun Jaitley in a press conference shared details of the banking department working on recapitalization plan to strengthen the public sector banks...

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BAE Systems to invest for defence production in state- CM

BAE Systems, a British company is interested in production of defence equipment in the state and a trainer hawk necessary for this will be set up. Chief Minister Devendra Fadanvis gave this information following the positive discussions with Chairman of BAE Systems Roger Car at Davos...

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Global community informed about transformation of Maharashtra

Maharashtra topped at the World Economic Forum summit in an India –Centric atmosphere in this annual summit. Prime Minister Narendra Modi placed before the forum the success story of India’s development forcefully and State Chief Minister Devendra Fadanvis also informed the participants about the transformation process of the state through various media elucidating encouraging response...

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RJD chief Lalu Prasad Yadav gets 5 years of imprisonment in third #fodderscam case

A special CBI court Wednesday convicted Rashtriya Janata Dal (RJD) chief Lalu Prasad Yadav in another Fodder Scam that is related to fraudulent withdrawal of Rs 35 crore and Rs 62 lakh from Chaibasa treasury during the 1990s. The court has sentenced him five years of imprisonment...

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WEF to set up new center at Mumbai to speed up 4th industrial revolution: CM

The World Economic Forum (WEF) has decided to extend its centre set up for the fourth industrial revolution to Mumbai, Chief Minister Devendra Fadanvis said in Davos today...

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Sensex, Nifty extend gains to hit fresh highs

Markets continued their record-setting run for yet another session on Tuesday. The stock markets NIFTY and SENSEX have moved past 11,000 and 200 points to 36,017 respectively for the first time in the early trade...

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Good News! IMF envisages India’s GDP growth at 7.4 % for this fiscal year and 7.8% for next year

Good News! Indian economy is all set to boom in the year 2018 with the projected growth rate of 7.4 percent. Though implementation of demonetization and GST in the year 2016 and 2017 made a short-term impact country’s economy, however, from the broader perspective, the two policies have strengthened the growth of India...

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Acche Din! Farmer’s income increased by 23.77% in last three years on milk production

India continues to be the largest milk producer in the world since two decades. Notably, milk production which was around 17-22 million tonnes in the 1960s, increased to 165.4 million tonnes during 2016-17. Particularly, it has increased by 20.12% during 2016-17 in comparison to 2013-14 while the income of farmers increased by 23.77% during 2014-17 as compared to 2011-14...

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IMF and World Bank commends RBI for its remarkable progress

The two, International Monetary Fund (IMF) and World Bank have commended Reserve Bank of India (RBI) for its remarkable progress in strengthening banking supervision. They have opined that the regulation by the RBI has improved in recent years...

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‘Nirman Samvaad’ ensures appropriate changes and smoothen the infrastructure development of Railways

To solve and discuss issues and matter of development in the Railway sector a meeting was organized by the Rail Vikas Nigam Ltd. (RVNL) an arm of Ministry of Railways for fast track implementation of railway projects. The conclave ‘Nirman Samvaad’ was an initiative by Minister of Railways and Coal, Piyush Goyal taken to smoothen procedures and remove any blockage for ensuring smooth functioning...

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Good News! GST rates on 29 handicrafts items reduced to 0% slab

Goods and Services Tax (GST) Council in its 25th meeting on Thursday slashed the tax rate on 29 handicrafts items and also reduced the tax on around 53 categories of services...

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India to be $5 trillion economy in 8-9 years

Union Commerce and Industries Minister Suresh Prabhu stated that in next 8-9 years India is expected to become a USD 5 trillion economy with manufacturing sector accounting to 20% of the figure...

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Sensex breaks all records by crossing magical 35,000 mark

Markets continued their record-setting run for yet another session on Wednesday. The benchmark BSE Sensex hit the 35,000 level for the first time in late afternoon trade on Wednesday as buying gathered momentum on easing fiscal deficit worries...

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#Vyapam Scam: CBI files chargesheet against former Madhya Pradesh Minister and 94 others

The Central Bureau of Investigation (CBI) has filed a charge sheet against former Madhya Pradesh Minister Laxmikant Sharma, his Officer on Special Duty and 93 others in one of the cases related to the Vyapam scam. The charge sheet, filed in a special court in Bhopal, also named Pankaj Trivedi, the then controller of examinations at Madhya Pradesh Professional Examination Board also known as Vyapam. The names also include the then principal system analyst in Vyapam, two other officials, six middlemen ..

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Economic Scenario: Inflation dips to 3-month low; exports rise by 25.67% to USD 27.03 billion

The economic revival is the greatest achievement of PM Modi’s government. The Country's exports grew by 12.36 percent in December, 2017 to 27.03 billion US dollars on account of strong performance by sectors like engineering goods and petroleum products...

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Patanjali partners with e-commerce giants to ‘Har Dwar’ delivery

Yoga guru Baba Ramdev's Patanjali Ayurveda products from now on will be available on e-portals, which include PayTM Mall, Big Basket, Flipkart, Grofers, Amazon, Netmeds, 1mg and Shopclues...

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Petrol-Diesel price record high as international oil rates continue to rally

In a shocking news, Diesel prices have touched a record high of 61 rupees 88 paise a litre as international oil rates continue to rally. Also, Petrol prices have crossed 71 rupees. The prices of fuel have been on a rise since December 2017 with petrol rising by Rs 3.4 and diesel by Rs 2.09 in a month. According to daily fuel price list of state-owned oil firms, Petrol price rose to 71 rupees 18 paise per litre in Delhi today, the highest since August 2014...

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Ford plans to invest $11bn to come out with 40 new electric car models

With the changing scenario in climate, energy sector, the automobile industry is pushing itself to a major change. The major player in the industry, Ford has decided to Ford plans to spend $11bn on 40 new electric, car models by 2022. The announced investment figure includes the costs of developing dedicated electric vehicle architectures...

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India ranked 30th on WEF global manufacturing index; Japan tops list

The World Economic Forum in its 'global manufacturing index' report has ranked India 30th. Japan has topped the list followed by South Korea, Germany, Switzerland, China, Czech Republic, US, Sweden, Austria and Ireland in the top 10. The nations are ranked based on four categories such as- Leading, High Potential, Legacy and Nascent...

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Industrial production rises to 8.4 % in November, hits 17-months high

Growth in the country's industrial output rose to seventeen months high of 8.4 percent in November this year, mainly lifted by the manufacturing and capital goods sectors. The factory output, measured in terms of Index of Industrial Production (IIP) grew 5.1 percent in November 2016...

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Stock market hits new record; Sensex manages to close above 34590, Nifty ends at 10681

Markets continued their record-setting run for yet another session on Friday. Both Sensex and Nifty ended the day at lifetime highs on robust buying by domestic institutional investors amid positive global cues...

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Delhi HC upheld Money Laundering case on Virbhadra Singh and his wife

The Delhi High court giving a major setback to former Himachal Pradesh Chief Minister Virbhadra Singh and his wife Pratibha Singh on Thursday upheld the validity of a money laundering law provision...

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French firm shows interest to invest Rs 3250 Cr in Patanjali

LVMH, a French luxury conglomerate has evinced interest to invest Rs 3250 crore in the Indian FMCG firm, Patanjali. Patanjali’s chief executive Acharya Balkrishna has said that just as we use foreign technology for our development, we do not hesitate to use foreign funds for the benefit of our country, but we will take it on our own terms...

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Get huge discounts on 'Nokia Mobile week' sale!

E-commerce giant Amazon India is offering huge discounts, cashback and exchange offers on Nokia 6 and Nokia 8 under the 'Nokia Mobile Week' sale. It is available to users from January 8 to January 12. In addition to that, users can claim an exchange discount of Rs 1,000 on Nokia 6, Rs 2,000 Amazon Pay cashback on Nokia 6 prepaid purchases Rs 1,500 cashback on purchase through ICICI credit card...

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India standing bright in global economy; World Bank forecasts growth at 7.3% in 2018

The World Bank today having projected India's growth rate to 7.3% for 2018 stated that the nation has a prospective future. It also added that the growth rate would progress further to 7.5% in the coming 2 years...

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Coal India changes the pricing policy of its non-coking coal

To push the revenue of Coal India, the state owned company has hiked thermal coal prices for both power and non-power consumers with immediate effect. The board in its meeting approved the revision of the price. The revision of the price became effective from January 9. The decision will be applicable to all the subsidiaries of Coal India including NEC for regulated and non-regulated sectors. Due to this revision, Coal India will earn approximately incremental revenue of Rs 1,956 crore..

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18.2% surge in Direct Tax Collections; reach to Rs 6.56 lakh Cr till December

The government has collected Rs 6.56 lakh crore in direct taxes, up 18.2 percent on hefty advance tax mop up, for the April-December period of the current fiscal. The net collections represent 67 percent of the total Budget Estimate of Rs 9.8 lakh crore for direct taxes in 2017-18...

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Stock market breaks all records; Sensex trading above 34,400 level

The Sensex index created history by breaching the 34, 400 level for the first time on Tuesday Morning. The 30-share BSE Sensex was up 78.32 points at 34,431.11 and the 50-share NSE Nifty gained 12.30 points at 10,635.90...

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Yamaha recalls 23,897 FZ and Fazer bikes in India

Yamaha Motor India has recalled 23, 897 bikes of two models - Yamaha FZ 25 and Yamaha Fazer 25 to repair head cover bolt. The recall relates to the two models manufactured after January 2017 and includes 21640 unites of FZ 25 model and 2,257 units of Fazer 25 model...

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Indian ports to earn double profit in 2018: Nitin Gadkari

While addressing delegates at the ASEAN India Pravasi Bharatiya Divas (PBD), Union Shipping Minister Nitin Gadkari has said that Indian ports are set to double their profit this year. “As far as India is concerned, our Prime Minister Narendra Modi has decided to give the highest priority for development of infrastructure in the country,” he said...

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RJD supremo Lalu Prasad Yadav gets 3.5 years of imprisonment in #foddercase

A decade-long story of corruption is on its conclusion now as RJD supremo and former Chief Minister of Bihar Lalu Prasad Yadav is all set to go in prison for 3.5 years and will also pay Rs 5 lakh fine in a decade-long fodder case...

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More trouble for Lalu’s daughter; ED files supplementary charge sheet against Misa Bharti in Money Laundering case

RJD chief Lalu Prasad Yadav’s daughter Misa Bharti seems to get into more double as the Enforcement Directorate (ED) has filed a second charge sheet in a money laundering case before a Delhi court...

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Country’s GDP growth to become more robust in 2018-19: NITI Aayog

After demonetization, the economy of India has seen a bit of dip this year but the NITI Aayog on Friday said that the growth of GDP would become more robust in the year 2018-19...

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TRAI: Defeating Vodafone-Airtel, Jio leads in 4G network speed

According to the Telecom Regulatory Authority of India (TRAI) data released Yesterday, Reliance Jio has emerged as the fastest mobile broadband service provider having recorded the highest speed of 21.8 Mbps...

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Corruption washed out this year: In 118 cases, 134 officials and 17 private individuals arrested

The Punjab Vigilance Bureau arrested 134 officials from different departments and 17 private individuals while accepting bribes, in a total of 118 cases this year...

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Insolvency and Bankruptcy law powerful enough to teach willful defaulters a stern lesson

The Lok Sabha on Friday unanimously passed the Insolvency and Bankruptcy Code (Amendment) Bill, 2017, which disqualifies wilful defaulters and existing promoters from bidding for stressed assets of companies undergoing insolvency proceedings...

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ED seizes valuables worth Rs 40 crore in connection with Rose Valley Chit Fund scam

On Wednesday, Enforcement Directorate(ED) raided three showrooms of Adrija Gold Corporation in connection with Rose Valley chit fund scam. Later on Thursday, it claimed that it has seized diamonds, rubies and sapphires and gold ornaments worth Rs 40 crore during the raid...

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Second air corridor launched to boost trade between India-Afghanistan

India and Afghanistan have launched the second air cargo route, linking Kabul to Mumbai on Wednesday. The objective of the air corridors is to boost the export of fresh fruits and medicinal plants from Afghanistan. The first route from Kabul to New Delhi was launched in June...

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More than two lakh vacancies in railways: Piyush Goyal

Indian Railways has over two lakh posts lying vacant in different capacities spread over various groups with majority of them reported from the Northern Zone of the railway network, Lok Sabha was told on Wednesday...

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Cut in GST rates pulls down the tax collections to Rs 80,808 Cr in November

The total revenue collected under the Goods and Services Tax (GST) kept falling for the second straight month in November. Over 99 lakh taxpayers have been registered under GST and over 53 lakh returns filed till 25th of December...

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With an aim to move only electric vehicles by 2030, Honda to set up electric car battery plant in India

In a great move, Honda Motor is planning to set up a lithium-ion battery manufacturing unit in India with the main aim to move only potential electric vehicles on roads by 2030...

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Dynasty of corruption: Lalu found guilty in Fodder scam on the same day his daughter faces charge sheet from ED

A long story of corruption might end as RJD Chief Lalu Prasad Yadav has been convicted by the special CBI court in the Deoghar leg of the fodder scam case and will be taken to the Birsa Munda Jail. Before appearing to the Ranchi Court, he was confident and was expecting a 2g like acquisition. Quantum of his sentence will be pronounced on January 3, 2018...

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Taking high road for connectivity: new cell created for attracting investment for highways projects

While highways are high roads to developments, a good amount of investments can make the connectivity of country far better. The National Highways Authority of India has created a National Highways Investment Promotion Cell (NHIPC) for attracting domestic and foreign investment for highways projects. The cell will focus on engaging with global institution investors, construction companies, developers and fund managers for building investor participation in road infrastructure projects...

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Subramanian Swamy shows black ribbon for freeing the bees of #2Gscam

Shocking judgement by Justice Saini shattered the let-downed Subramanian Swamy’s efforts. Efforts he took to fight against 2G Scam, efforts to catch the collars of the accused, efforts to put off the curtains from the whole scenario. This led him to speak by holding a press conference at 3.30 pm...

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#Demonetisation founds its catch: Undisclosed income of Rs 7,961 crore nabbed post #Noteban

Demonetization was the biggest and boldest step taken by PM Modi led central government with an aim to curb corruption, black money etc. However, the step has proved to be worth as after demonetization, the Income Tax department has unearthed undisclosed income of Rs 7,961 crore from November last year to March...

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Bharti Airtel to acquire Millicom's operations in African country Rwanda strengthening its endeavor in the continent

The giant telecom operator Bharti Airtel has entered into an agreement with Millicom International Cellular S.A. to acquire 100 percent stake in its Rwanda operation which operates under the brand name of Tigo Rwanda. The agreement will definitely strengthen Bharti Airtel’s operation in Africa...

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Nokia collaborates with IIT-Delhi to work on Artificial Intelligence

Nokia has joined hands with the Indian Institute of Technology-Delhi to provide better connectivity to its users. While the networks becoming increasingly complex and usage of data is growing exponentially, the two have signed a Memorandum of Understanding (MoU) to use data science, analytics and artificial intelligence to make networks more efficient and reliable...

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Coal scam: Former Jharkhand CM Madhu Koda awarded 3-year jail term along with Rs 25 lakh fine

A Delhi CBI court has found ex-Jharkhand CM Madhu Koda and and ex-coal secretary H C Gupta guilty in the coal scam case. Besides the three years jail term to both, the special court also imposed a fine of Rs 25 lakh on Koda and Rs one lakh on Gupta...

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Go Cashless : No need to pay extra for digital transactions up to Rs 2,000

In a bid to boost digital payments, the Union Cabinet has approved subsidizing the Merchant Discount Rate (MDR) applicable on all debit cards, BHIM UPI and Aadhaar enabled Payment System transactions up to Rs 2000...

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Higher seasonal vegetable price pushes inflation to 3.93% in November

The Inflation based on the wholesale price index rose to 3.93 percent in November due to an increase in the prices of onions and seasonal vegetables. The wholesale inflation had stood at 3.59 percent in October, and 1.82 percent in November last year...

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Google X will enhance digital connectivity in Andhra Pradesh: Minister Nara Lokesh

In order to establish the high-speed internet network in the state of Andhra Pradesh, state government under the leadership of Chief Minister Chandra Babu Naidu has roped in international giant Google X. ..

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World Bank lends $250 million for Sankalp project

The IBRD (International Bank for Reconstruction and Development) a financing arm of the World Bank will provide India with a loan of $250 million. The amount is being lent as India signed a loan agreement with World Bank under 'Skills Acquisition and Knowledge Awareness for Livelihood Promotion' (SANKALP) Project...

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SC splashes water on MRP stickers: Hotels and Restaurants can sell bottled water higher than its retail price

Supreme Court has made hotels and restaurants free bees as they will be able to sell bottled water higher than its MRP. The Apex Court rejected Centre's stand saying hotels can't be prosecuted for selling bottled water above MRP...

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Nine reforms that helped India jump up 30 places in World Bank's Doing Business Report 2018: Read here!

Once upon a time in India, doing or setting a business whether on a large scale or small scale was not at all easy. And the reason was lengthy documental procedures, unstable markets, lack of security etc but today India is amongst those countries where doing a business is very easy and simple due to favourable policies...

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Air Deccan is offering flight tickets for Rs 1; bookings open tomorrow

Air Deccan, India’s first domestic low-cost airline is re-launching its operations this month, debuting again with flight tickets starting at one rupees only. The airline will begin operations with 4 bases at Mumbai, Delhi, Kolkata and Shillong...

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Retail inflation rises to 4.88% in November, hits fifteen-month high

Retail inflation rose to a fifteen -month high of 4.88 percent in November due to costlier fuel, vegetables and eggs, as per data released by the Central Statistics Office (CSO) on Tuesday. The inflation, based on Consumer Price Index (CPI), was at 3.58 percent in October. It was 3.63 per cent in November 2016. The previous high was recorded at 5.05 percent in August last year...

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India to embrace good economic growth: #GDP to rise 7.2% in 2018, 7.4% in 2019

United Nations (UN) in its report stated that India's GDP growth remains fastest and is projected to progress by 7.4% in fiscal 2019. The report said, the nation is to benefit from strong private consumption, public investment and gradual reforms undertaken by the government...

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Direct tax collection increases by 14.4 percent; reaches to 4.8 lakh crore rupees till November 2017

Direct tax collection has increased by 14.4 percent during April to November this year as compared to the corresponding period of last year. The government has collected 4.8 lakh crore rupees during the first eight months of the current fiscal. ..

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Rs 48.91 crores of demonetized currency seized in Gujarat`s Bharuch

The effects of demonetization could be seen even after over 1 year. The Directorate of Revenue Intelligence (DIR) officers seized Rs. 48.91 crores of demonetized currency in Rs. 500 and Rs.1,000 denomination currency notes after they zeroed in office premises at Bharuch in Gujarat. DRI is filing a complaint in the Court against the three (3) persons involved...

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Airtel's biggest surprise of 2017 for its users!

Airtel, in a bid to end 2017 with a bang, has made the most ambitious move to take up its 'data-phone' war with Reliance Jio with a newer level. Airtel has joined hands with Intex to launch affordable 4G smartphones for its users. Under 'Mera Pehla 4G Smartphone' scheme, Airtel users can purchase Intex Aqua LIONS N1 for an effective price of Rs 1,649 against the market price of Rs 3,799...

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SBI announces BIG changes after merger; read here the details

In a new move, the State Bank of India (SBI) has changed names and IFSC codes of nearly 1,300 of its branches post-merger of its five associates. The bank has close to 23,000 branches. The changes were made for the branches located in major cities including Mumbai, New Delhi, Bengaluru, Chennai, Hyderabad, Kolkata and Lucknow, among others. The bank has put up the list of branches with old and new names and IFSC codes on its website...

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Panama Papers probe: ED seized assets of former IPL Chairman’s firm

The Enforcement Directorate has on Saturday seized properties worth Rs 10.35 crore in the form of mutual funds from Whitefield Chemtech Pvt Ltd were seized in the Panama Papers case. According to the Agency, it has seized mutual funds of Whitefield Chemtech Private Limited, under Foreign Exchange Management Act (FEMA)...

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Deputy Commissioner suspended for harassing taxpayer in Gujarat

The Income Tax Department has suspended a deputy commissioner for harassing the taxpayer on Friday. In an official release, Central Board of Direct Taxes (CBDT) said, a complaint was received making serious allegations against Deputy Commissioner of Income Tax, posted at Surendranagar in Gujarat region for harassing a taxpayer in a scrutiny case with malafide intention...

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IRCTC tender scam: ED attaches land worth 45 crores belonging to Lalu Prasad in Patna

With every twist in IRCTC hotel scam in which Bihar’s ex-Chief Minister Lalu Prasad Yadav is allegedly involved, the deep-rooted corruption during Lalu regime becomes more open and wide. Enforcement Directorate (ED) has attached three acres of land worth around 45 crore rupees belonging to RJD chief Lalu Prasad and his family in connection with the case...

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Railways to beautify its 400 stations by redeveloping it

If you are going outstation by train and you see station with proper seating arrangements, Pure drinking water booth, Clean platforms, WI Fi sevices etc. all these facilities will fascinate you but it will a reality soon as Indian Railways has tied up with IRSDC as nodal agency for station redevelopment plan...

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Gadkari assures close monitoring of Polavaram project

In order to fast-track the ongoing work of national irrigation project Polavaram, Union Minister for Water Resources Nitin Gadkari assured that central government will closely monitor the most anticipated national irrigation project...

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To promote cashless transactions, RBI reduces debit card transactions at merchant outlets

To boost Digitisation, the Reserve Bank of India (RBI) has taken a crucial step revising merchant discount rates (MDR) charges on Merchants. Now even small businesses will start accepting payments from your Debit card through Scan and Pay...

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#RBIPolicy : Repo Rate remains unchanged at 6%; Reverse Repo Rate at 5.75%

Eyeing rising retail inflation, the Reserve Bank of India (RBI) kept its key policy rate unchanged at 6.00% in its fifth bi-monthly monetary policy review on Wednesday. The apex bank decides to keep reverse repo rate remains at 5.75% and bank rate at 6.25%...

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End to exploitation: Small tea growers in North Bengal to receive SMS of minimum selling price

While tea industry is one of the largest industries if India, small tea growers often get exploited and don’t get the deserved price of their production. To stop this malpractice, The Tea Board of India has introduced a new SMS system. Small tea growers of North Bengal and Bihar will be informed about minimum benchmark price of green tea leaves of every month...

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Chandrababu Naidu invites Dasan Networks to boost networking sector

In order to boost the existing networking infrastructure in the coastal state, Andhra Pradesh, Chief Minister N Chandrababu Naidu has urged global networking giant Dasab Networks to extend its support for the statewide venture. ..

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Tata launches its online grocery site ‘StarQuik’

Tata Group has launched an online grocery e-tailing platform 'StarQuik.com'. Beginning operations in Mumbai initially, the business aims at catering for daily needs like grocery, bakery foods, fruits and vegetables including thousands of household products...

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Unholy nexus of Doctors and Medical centres unearthed by IT raids : Rs 100 Cr black money revealed

In a shocking news of an undercover nexus between doctors and medical centres in Bengaluru, the I-T dept detected Rs 100 crore black money. It claimed doctors were being paid for referring medical tests...

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#GDPGrowth : Trust between the Voter and Government has started to pay

Indians definitely understand the same and voted Prime Minister Narendra Modi to power with absolute majority. Their trust in government is paying off. One must remember the common citizen of India doesn’t go thru the reports and rankings of different international organisations but goes by the experience. ..

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Indian economy picks up pace: GDP grows at 6.3% in July-Sept quarter compared to previous quarter

Reversing the five quarters of slowing GDP growth, Indian economy expanded by 6.3 percent in July-September on the back of a pick-up in manufacturing. “Increase to 6.3 % in Q2 against 5.7% in Q1 shows a significant trend reversal in growth rates, indicating it is returning to more normal levels” Chief Statistician TCA Anant said...

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#BlackMoney : IT Dept issues notices to 1.16 lakh for cash deposit of over Rs 25 lakh post demonetization

The Income Tax Department has slapped notices on 1.16 lakh individuals and firms who made cash deposits of more than Rs 25 lakh in bank accounts post note ban but failed to file returns by the due date, CBDT Chairman Sushil Chandra said...

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Amazon India organises startup challenge 'Startup C-Cube'

Amazon India, in collaboration with hardware accelerator HAX and crowd-funding community Kickstarter, has announced a startup challenge 'Startup C-Cube'. The winners of the contest will have an opportunity to engage with Boeing on future partnerships...

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#GSTimpact : Over 50 lakh returns filed, Rs 83346 Cr collected in October month

After taxes on most commodities have come down, the total collection of GST is slipped to Rs 83346 crore, from over Rs 92000 crore last month. Also, 50.1 lakh returns have been filed for the month of October till 26th November 2017...

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AAP slapped with Rs 30-cr fine over giving false information of donation

Income Tax department has sent 30.67 crore rupees tax notice to Aam Aadmi Party for providing false information of donation. The party has been asked to pay the penalty by December 07...

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Jitendra Singh hails exemption of bamboo from Forest Act

Following the approval by the Union Cabinet in a meeting chaired by the Prime Minster Narendra Modi, the President of India Friday promulgated the Indian Forest (Amendment) Ordinance, 2017 to exempt bamboo grown in non-forest areas from the definition “Tree”, thereby dispensing with the requirement of obtaining a permit for felling of bamboo for economic use...

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IT Minister Nara Lokesh predicts 2 lakh jobs by 2019

Expressing confidence over the existing ecosystem developed by Andra Pradesh government Nara Lokesh assured that state administration will take all possible steps to boost the emerging IT sector in the state of Andra Pradesh. The Minister opined that near about 2 lakh job opportunities would be available by 2019...

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FinMin clarifies ‘No withdrawal of chequebook facility’ on some misleading media reports

Cheques are not merely a paper but form the backbone of trade and commerce, withdrawing cheque book facility will not only affect the payment landscape but also the common man...

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Centre approves Rs.1 Lakh Cr for infrastructural development of Tamil Nadu

Centre sanctioned Rs 1 Lakh Crore infrastructure projects for Tamil Nadu including three elevated corridors for Chennai and bus ports at Madurai, Coimbatore and Salem that will be on par with airports...

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Now Bamboo grown in non-forest areas exempted from definition of tree; the decision will lead to improved economy

In a landmark imitative Centre has promulgated the Indian Forest (Amendment) Ordinance, 2017 to exempt bamboo grown in non-forest areas from the definition of a tree. One of the major objectives of the amendment is to promote cultivation of bamboo in non-forest areas to achieve twin objectives of increasing the income of farmers and also increasing the green cover of the country. But bamboo grown in the forest areas shall continue to be governed by the provisions of Indian Forest Act, 1927...

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BSE enables foreign investors to purchase corporate bonds in auction investment limits

The Leading Stock Exchange of India, Bombay Stock Exchange (BSE) for enabling foreign investors to purchase corporate bonds worth over Rs. 8, 300 crore said that it will auction investment limits on Friday. The exchange in its circular stated that the live bidding session for allocation of debt investment limits will be conducted on BSE's ebidxchange platform from 15.30 to 17.30 hrs, after the close of market hours...

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With Membership for European Bank, India expands its existence on global developmental landscape

The 15th Finance Commission was setup under the chairmanship of Prime Minister Narendra Modi. Under Article 280 (1) of the Constitution, it is a Constitutional obligation to form the Finance Commission after every five years and will be notified in due course of time. Finance Minister Arun Jaitley addressed the press conference after the cabinet meet. The cabinet took various decisions regarding the salary of judges, Indo-Philippines relations, Indo-Russia on combating terrorism, etc...

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Jaago Grahak: Consumer goods to be cheaper as prices to go down to avail GST benefits

Benefitting the consumers with GST tax reduction, the Consumer goods will get cheaper as the prices of the various consumer products have been reduced said the Fast Moving Consumer Goods (FMCG) companies, including ITC, Dabur and HUL. They further added that the benefits of the GST rate reduction to be passed on to the consumers. In 23rd GST council meeting the committee took the decision to reduce the GST rates...

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Beware black money hoarders: Switzerland agrees on automatic sharing of bank details with India

A major breakthrough regarding unearthing the black money is in near sight as Switzerland, the safe heaven of tax evasion, has agreed automatic sharing of bank details with India. This will give India unbound direct access to details of alleged black money hoarders. ..

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Consumers to get benefit of GST rates reduction; revise MRP rates

The benefit of the GST rate reduction should be passed to the consumers said the Central Board of Excise and Customs (CBEC) to the Industry leaders. The changes were applicable from the midnight of 14th November after the 23rd GST council meeting was held on 10th November and the decision to reduce the GST rate on 178 products was taken by the committee...

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Rural Housing Targets of 1Cr homes to be achieved by March 2019; 55.85 lakh sanctioned to beneficiaries

Setting the target of allotting one crore new houses to the beneficiaries under the Pradhan Mantri Awas Yojana (Gramin) on 20th November 2016, the government have to complete 51 lakh houses by 31st March 2018. While all the one crore houses will be allotted after beneficiary registration, geo-tagging and account verification by 31st March 2019...

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Banks to prevent defaulters from buying stressed assets; investigate debtors

Under the Insolvency and Bankruptcy Code (IBC), the move for safeguarding to buy same stressed assets again from the wilful defaulters will be prevented as the Finance Ministry has asked banks to investigate about such defaulters...

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GES-2017: Women represent 52.5 percent of entrepreneurs, investors, and ecosystem supporters

With the theme of Women First, Prosperity for All, the 8th edition of the Global Entrepreneurship Summit-2017 (GES-2017) will be held in Hyderabad from 28th November. For the first time it is being held in South Asia, India and the USA will be co-hosting the conference...

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Centre raises import tax on edible oils for supporting local farmers and refiner

Putting the farmers’ welfare above all, India has raised import tax on edible oil to the highest level in more than a decade. The main aim behind this measure is to help farmers and local refiners. Import duty on crude palm oil has been doubled to 30 percent from 15 percent and on refined oil to 40 percent from 20 percent. ..

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Manufacturers can display revised MRP of commodities on reduction of GST: Ram Vilas Paswan

Reduction in GST rates has given relief to the public. GST has reduced on many things. On account of implementation of GST w.e.f. 1st July, 2017, there may be instances where the retail sale price of a pre-packaged commodity is required to be changed. In this context, the manufacturers or packers or importers of pre-packaged commodities are now allowed to declare the revised retail sale price (MRP) in addition to the existing retail sale price (MRP)...

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Income Tax Dept raids Jayalalitha’s Poes Garden residence, Sasikala’s room searched

After raiding over AIADMK leader Sasikala’s properties, Income Tax department raided former Tamil Nadu Chief Minister Jayalalitha’s Poes Garden residence. Sasikala, a close aide of Jayalalitha was living in her house after the death of Jayalalitha and continued to stay there until she was sent to jail by the Supreme Court...

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Moody's upgrade recognizes fiscal prudence that India has committed: Arun Jaitley

Moody’s up gradation of India's rating is recognition and an endorsement of the reform process which has taken place in India, particularly in the last 3-4 years said the Finance Minister Arun Jaitley on Friday...

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After a gap of 13 years, Moody`s upgrades India`s investment grade; big boost to Modi govt

The Rating agency Moody's upgrades India's sovereign credit rating from BAA3 to BAA2 on Thursday. Moody's has also upgraded India's local currency senior unsecured rating to Baa2 from Baa3 and its short-term local currency rating to P-2 from P-3...

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Now travel Mumbai to Pune in just 14 minutes with #Hyperloopone

To classify potential routes and scrutinizing the high-level economic impact and technical feasibility of Hyperloop transportation solutions in India the Maharashtra Government has announced its partnership with the Virgin Hyper-loop One to conduct a preliminary study in the region. Memorandum of Understanding (MoU) has been signed between Pune Metropolitan Region Development Authority (PMRDA) and the US-based company...

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Judiciary gets 3320 CR for infrastructural development

The availability of suitable number of Court Halls and Residential Accommodations for Judges / Judicial Officers of District and Subordinate Courts all over the country will increase as The Union Cabinet chaired by Prime Minister Narendra Modi has approved continuation of the Centrally Sponsored Scheme (CSS) for Development of Infrastructure Facilities for Judiciary beyond 12th Five Year Plan i.e. from 01.04.2017 to 31.03.2020. This mission costs around 3320 Cr...

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‘Webbish Highway’; Agra – Lucknow highway to get free wifi soon

If you are going to travel by Agra - Lucknow highway and getting bored by the journey then here is the solution as the 302 kms highway will soon have a facility of free wifi. Now the travelers travelling through this highway will have an access to internet at free cost...

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Ambanis rules to be on top as Asia’s richest family

India’s richest family Ambani is now the top rich family of the continent. As per a Forbes listing, Mukesh Ambani family’s net worth rose USD 19 billion to USD 44.8 billion, toppling the Lees of the Samsung Empire, to claim the numero uno position...

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Aadhar, Demonetisation, and GST brought transparency and efficiency in Governance: Arun Jaitley

o reaffirm the strategic partnership and improving the economic ties the Finance Minister of India Arun Jaitley discussed the opportunities with the Prime Minister of Singapore, Lee Hsien Loong. While, Jaitley is on a two-day visit of Singapore, where he addressed the Singapore Fintech Festival in which he discussed the growth, financial inclusion, structural reforms, innovation, and digitization is transforming India and unleash opportunities...

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Petition filed with SC to regulated the flow of Bitcoin

In order to control the flow of Bitcoin an appeal has been made and also certified that the cybernetic currency should be made answerable to the Exchequer on Wednesday. This led the Supreme Court to pursue an answer from the center...

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With 7,000 participants from 22 countries ‘India International Trade Fair’ kicks off in Delhi

The 37th India International Trade Fair (IITF) begins at Pragati Maidan in New Delhi. The theme this year is, 'Startup India Standup India'. As many as 7,000 participants from 22 countries showcase their products ranging from electronics to textiles...

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Wholesale inflation at 6-month high of 3.59% in October

Wholesale inflation rose to a 6-month high of 3.59 percent in October this year, as prices of food articles, led by onions and vegetables, climbed. Inflation based on the Wholesale Price Index had stood at 2.6 per cent in September this year, and 1.27 percent in October last year...

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Raids on Sasikala, Jaya TV: Income Tax Dept recovers undisclosed wealth around Rs.1430 Cr

Income Tax department disclosed the unaccounted wealth of around Rs. 1430 Crores during the raids that rocked on the premises of jailed AIADMK leader VK Sasikala and their business associates, and premises of Jaya TV...

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India will overtake Japan and Germany in nominal GDP by 2028; emerge world’s third-largest economy

Over the next decade, India will overtake Japan and Germany in nominal GDP and is likely to achieve strong growth by 2028. India will also emerge as the world’s third-largest economy stated the Bank of America Merrill Lynch in a report titled, India 2028...

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India-Canada pledge to boost trade ties, investment during 4th annual ministerial Dialogue

India and Canada have expressed their strong commitment to take forward negotiations for early conclusion of Comprehensive Economic Partnership Agreement, CEPA. India highlighted the importance of services component under the agreement at the 4th India-Canada Ministerial Dialogue on Trade and Investment. Both countries recognized that the current bilateral trade is much below the potential between the two world’s robust economies, despite the huge untapped potential for two-way trade and investment...

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Vodafone and Idea sell their towers worth 7850 Cr for speeding up mobile network

India’s leading telecom companies Vodafone India and Idea are going to sell their tower assets to American Tower Corporation (ATC) worth Rs 7850 Cr. This sale of towers will be done separately before the merger of these two companies. In this deal Vodafone India will sell its towers worth 3850Cr whereas the latter will sell for Rs 4000Cr...

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Strengthening banking system, more capital to be injected in state-owned banks: Arun Jaitley

To nourish the banking system and encourage the economic growth, the government has decided to inject more capital in state-owned banks said the Finance Minister Arun Jaitley in PSB Manthan held at Gurugram in Haryana on Monday...

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Now fly anywhere in India for just Rs 99 only

In a massive discount sale, AirAsia is offering passengers one-way base fare at Rs 99 for a domestic flight through its Indian JV airline network. Meanwhile, for international travellers, it is offering the fare at Rs 444...

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Why RBI denies pursuing Islamic banking system in India, Read Here!

The Reserve Bank of India (RBI) said that Islamic banking is not consistent with current banking laws, so it will not be opened in India. Replying to an RTI query, the central bank said the decision was taken after considering the wider and equal opportunities available to all citizens to access banking and financial services...

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Uber enters into agreement with Japanese conglomerate SoftBank to sell stake

Uber has reached a deal on Sunday to sell a significant stake of itself to SoftBank, a Japanese technology conglomerate. The company has agreed to invest billions in the ride-hailing company. The company gets new revival energy after going through a series of scandals, leadership turmoil, and executive departures...

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BIG NEWS! GST rates on 177 items slashed from 28% to 18%

Goods and Services Tax (GST) Council in its 23rd meet slashed the tax rate on 177 goods. As per latest reports, of the 227 items placed in 28% GST slab, the tax rates of 177 items have been slashed to 18%, leaving 50 which are mostly luxury items...

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I-T officials raid office, residences of Sasikala and her associates

he residences, offices, and farmhouses of Chennai, Kanchipuram, Tiruvarur, Pudukottai and Bengaluru which belongs to Sasikala and her associates were raided by the income tax officials on Thursday morning. The Income Tax officials have carried out such large-scale raids against the Mannargudi family first time in over 20 years...

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Demonetization is not a scam but miracle: Civil Aviation MoS Jayant Sinha replies to allegation of Bengal CM

On the one year anniversary of demonetization while people are celebrating its success, Bengal Chief Minister Mamata Banerjee has marked the day as a black day. She alleged it as the biggest scam which would be proved later. Challenging her allegation, Minister of State for Civil Aviation Jayant Sinha said in Kolkata, 'Demonetisation is not a scam'. He challenged the former on the issue...

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#Demonetization Impact: 15.2% surge in Direct Tax Collections; reach to Rs 4.39 lakh Cr till October

Direct tax collection has increased by 15.2 percent during April to October this year as compared to the corresponding period of last year. The government has collected 4.39 lakh crore rupees during the first seven months of the current fiscal...

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ALERT! Aircel users port to other numbers soon

Days after Reliance Communications (R-Com) announced that it is shutting down its operations, Aircel is likely to follow the suit due to ongoing losses and high debts.The off of merger talks with RCom is said to be the final nail in the coffin for Aircel...

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Coal India launches new customer friendly “Grahak Sadak Koyla Vitaran App”

A customer friendly app at the benefit of customers lifting coal through road mode, has been launched by public sector undertaking Coal India. The ‘Grahak Sadak Koyla Vitaran App’ will work as a tool to monitor leading to more transparency in the system. Union Coal Minister Piyush Goyal launched the app in Kolkata...

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#Demonetization: not a distinct decision but comes with perspective planning

It is equally important to make a note of the following measures taken prior to the announcement of demonetization. In a way, demonetization was a carefully thought and a comprehensively planned strike.The following will highlight the initiatives in several schemes comprehensively taken by the Union Ministry of Finance in this regard...

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From Curtailing terrorism, Benefitting economy to Unearthing black money, Here is #DeMoWins

Commonly known as notebandi, The Indian Prime Minister Narendra Modi took the decision to curtail the shadow economy and crack down on the use of illicit and counterfeit cash to fund illegal activity and terrorism by announcing the demonetization of all Rs.500 and Rs.1000 banknotes of the Mahatma Gandhi Series on 8th November 2016...

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Impact of demonetization on black money

The number of tax assessees suddenly jumped for the year 2016-17 and personal tax collection has shown a rising trend in 2017-18 too when the economy’s growth rate has come down to 5.7%, though very temporarily. The last 5 years of UPA government were marked by hyperinflation and tremendous rise in prices of land and properties. As I recently argued in a Republic TV debate, this was all fueled by corrupt and untaxed money. ..

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Panama Papers probe is in full swing, reveals Rs 792 Cr black money

The Multi-Agency Group (MAG) which was constituted in April last year to investigate the Panama Papers, has found around 792 crore rupees of undisclosed credits have been detected while criminal prosecution complaints have been filed in five cases...

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Switch to digital payment: HDFC makes online transaction free

In a bid to boost digital transactions, a series of banks are mulling over cancelling online transaction fees. HDFC has already made online transaction through RTGS and NEFT free from November 1...

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‘Paradise Papers’ to be monitored by reconstituted Multi Agency Group: Govt

The Government has directed that investigations in cases of Paradise Papers will be monitored through a reconstituted Multi Agency Group, headed by the Chairman, CBDT, having representatives from CBDT, ED, RBI and FIU...

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Separate table introduced on GST Portal to help exporters claim GST refund

In the GSTR-1 Form the Goods and Services Tax Network have introduced Table 6A so that the claims to be refunded to the exporters. Table 6A of Form GSTR1 has been introduced on the GST portal. From the returns section of the GST Portal, the table can be filed and the amount which is to be refunded will be paid through a credit to the exporter's bank through ECS or by cheque...

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Demonetization, GST major boost for banking sector: SBI Chief Rajnish Kumar

Appreciating the path-breaking decision of demonetization, State Bank of India Chief Rajnish Kumar said that Centre's historic move has given a major boost for the banking sector. Speaking to the media Kumar mentioned that reforms like GST and demonetization would fine-tune the financial health of the country...

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A wide view on #Demonetization : Cause and effect chain of the decision

The announcement of demonetization on November the 8th, 2016, was not merely a routine announcement of a government decision. It was the culmination of a prolonged battle between the government authorities on the one hand and the black marketers, the counterfeit currency traders, the terrorists’ financers, the corrupt officials and non-officials and the tax evaders on the other hand. The known and the unknown offenders had been given a long rope to mend their ways since the Independence. It was certainly ..

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Common man supports Cashless economy: Digital transactions hiked by 70 % in a year

When Prime Minister Narendra Modi appealed the Indians to go digital and use less-cash mode for daily transactions, he was challenged by political pundits and some specific political parties opposed him in the name of common man. But that common man silently accepted the fact that cash is crime; and started using cashless modes. The recent reports are saying that the Digital transactions hiked by 70 % in a year...

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Fight against #BlackMoney : at least 24 lakh inactive companies struck-off post #demonetisation

Post demonetization, so far at least 2.24 lakh companies have been struck-off for remaining inactive for a period of two (2) years or more. Interestingly, Prime Minister Narendra Modi led central government took a massive and decision of ‘demonetization’ that nearly shook up all the corrupted ones and corruption too. The move was taken only with an aim to curb the corruption in the country with the guaranteed positive results. Though the opposition, political parties opposed centre’s decision severely, ..

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India exports 60% of the manufactured sports goods: Suresh Prabhu

60 % of the total sports goods manufactured in India are exported says the minister of commerce Suresh Prabhu while talking about the growth in export rate of the nation .The overall growth in the export sector has benefited the country he added. India’s sporting goods are popular around the world and have made a mark in the global sports goods market..

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Rate of Sovereign Gold Bonds fixed at Rs. 2,934 per gram

In consultation with RBI, the price of the new series of Sovereign Gold Bonds (SGBs) has been fixed by the government at Rs. 2,934 per gram which will be opening for the purchase from Monday. To the investors applying online and making payments digitally the discount of Rs. 50 per gram will be offered...

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#Demonetization : The Social Context

Indian polity in modern India was seen celebrating the dawn of an unprecedented era, commencing efforts anew of rebuilding the Indian nation and a new Indian society in May 2014. A peaceful and a quiet bloodless revolution took place. It was not a mere transfer of power from a defeated party to the victorious one, it dawned as a harbinger signaling the restoration of the forgotten glory of a golden era calling for its resurrection. The victory was the culmination of a long drawn labour of several ..

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Airtel to invest Rs 25,000 Cr for 4G network in FY18

In a bid to scale up its 4G network, Bharti Airtel has announced that it'll invest nearly Rs 25,000 crore in fiscal year-2018. The 25% increase in Airtel's initial investment plans of Rs 20,000 crore is on the back of stiff competition from Jio...

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India is making a rapid advancement in the construction of tunnels both for road and rail network: MoS

“For mighty Himalayas, tunnel construction shall form an important feature of the road and rail network to ensure all-weather, smooth and reliable communication” says MoS for Defense Dr. Subhash Bhamre while inaugurating a two-day seminar on ‘Challenges in Planning, Investigation, Design and Construction of Highway Tunnels in Himalayan Region’ Region’ organised by the Border Roads Organisation (BRO) on Thursday...

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SmartCity is all about using technology and design to give a better life to the common man: CM Fadnavis

Taking Maharashtra towards the path of ‘Smart City’, Chief Minister Devendra Fadnavis inaugurated ‘ACETECH 2017’ which was organised by The Economic Times in Mumbai. Taking the stage after the inauguration, CM Fadnavis said that as our nation is working hard on 100 #smartcities, the roles and responsibilities of ‘ace (architecture, construction, engineering)’ sector has increased...

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Retail inflation for industrial workers surges to 2.89% in September

Retail inflation for industrial workers slid to 2.89 per cent in September, from 4.14 per cent in the same month last year, on account of cheaper food items. However, the figure is higher than 2.52 per cent in August...

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Top Japanese firms looking for collaboration with Indian IT companies as well as to invest in start-ups

While the inter-governmental co-operation between India and its all-weather friend Japan has reached an extraordinary level, many top Japanese firms are also looking for cooperating with IT companies from India. The bi-lateral relation will be more enriched if co-operation takes place in both governmental and private sectors...

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#LootLo Deal: BSNL offers 500% extra data from today

While Jio is increasing the prices of its packages, BSNL's Loot Lo scheme starts today, under which the telco is offering 60% discount on select postpaid plans. In addition, the packages will offer 500% more data...

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Eight core industrial sectors growth hits 6 month high of 5.2%

Eight core sectors grew to a six-month high of 5.2 per cent in September, helped by a robust performance in coal, natural gas and refinery segments, official data showed today...

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Morocco to implement programmes based on socio-economic model of India

Morocco is in the process of implementing programmes based on the socio-economic model of India. This was said by Interior Minister Morocco Noureddine Boutayeb on Tuesday, who is leading a composite delegation from various Ministries dealing with ICT and Socio-Economic Programmes and Morocco’s National Bank to India from 28th October to 6th November 2017...

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SBI reduced MCLR by 0.05 percent after 10 months

The lending rate has been reduced by 0.05 percent across maturities. The government-owned State Bank of India (SBI) has reduced the marginal cost of funds based lending rate (MCLR) almost after the time period of 10 months. MCLR is a reference rate for the banks...

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Suresh Prabhu visits Cuba for enhancing bilateral trade between the two nations

Minister of commerce and industry, Suresh Prabhu visited Cuba from October 28th – 31st, with the aim to make trade relation between India and Cuba more concrete. This visit will help to explore opportunities to tap the huge untapped potential, for not only bilateral trade but also investment in the Latin American and Caribbean regions...

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India breaks into first 100 in World Bank’s Ease of Doing Business Ranking

Taking a big leap forward India has broken into first 100 in the World Bank’s Ease of Doing Business Ranking. It is a straight jump of 30 notches from last year...

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Ministerial panel set up to supervise PSU bank mergers

To supervise the merger proposals of the public sector unit (PSU) banks a ministerial panel has been constituted by the government which will be led by the Finance Minister Arun Jaitley along with the Railway Minister Piyush Goyal and Defense Minister Nirmala Sitharaman...

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Good News for taxpayers; deadlines for filing returns 2, 3 extended by a month

Government has extended the last date of filing of GSTR-2 for July to 30th of next month to facilitate businesses and all taxpayers. Earlier, the last date was till today. GSTR-2 or purchase returns have to be matched with GSTR-1 which is the sales return...

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Deadline for filing GSTR-2 extended to November 30

The last date of filing GSTR-2 of July has been extended to November 30 which will facilitate businesses and all taxpayers. Earlier, the last date was October 31. GSTR-2 should be matched with GSTR-1. GSTR-2 is purchase return while GSTR-1 is the sales return...

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GST tax rates to be slashed to 1 percent for manufacturers, restaurants

To make the GST composition scheme more attractive, the ministerial panel has suggested reducing the tax rate to 1 percent for manufacturers and restaurants. The manufacturers and restaurants pay GST under composition scheme at 2 percent and 5 percent respectively whose turnover is up to one crore rupees...

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About 3 billion dollars invested in Indian capital markets in October by Foreign investors

Due to stable macroeconomic conditions, high nominal and real yields, the foreign investors have invested about 3 billion dollars in the Indian capital markets in October. In the debt markets, most of the investment has been made by the Investors...

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Deadline for claiming GST transition credit extended to Nov 30

The deadline to claim the credit of transitional stock in the Goods and Services Tax (GST) has been extended by the government by a month. The people owning the business got the claiming deadline till November 30. The credit taxes which are paid before the launch of GST in July can be claimed by businesses and file TRAN-1...

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First set of solar plants with capacity of 5 MW launched in New Delhi

The first set of solar plants with a total capacity of 5 megawatts launched in New Delhi Division by the Railway Minister Piyush Goyal on Friday. The project of Indian Railways is planning to start one thousand Megawatt solar plants across the whole network under National Solar Mission...

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After loan of Rs 46,000 Cr Reliance announces to shut down 2G services

Laden with a debt of Rs 46,000 crore, Reliance Communications is shutting down its 2G wireless operations, that'll result into loss of half of its 8 crore subscribers...

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India imposed anti-dumping duty on seven exporters including EU, Korea, and China for Stainless Steel

To protect the interest of domestic industry from cheap imports and by the recommendation of Directorate General of Anti-Dumping and Allied Duties (DGAD), India has levied anti-dumping duty on the seven exporters including European Union (EU) and several other nations, including China and Korea on certain stainless steel products...

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About 3150 hectares of forest land approved for construction of Kaleswaram project

The forest land of about 3,150 hectares have been approved for construction of Kaleswaram project stage-one by the Environment Ministry. The diversion of the allotted land will be through eight forest divisions from Mahadevpur it will go move Karimnagar-Sircilla, Siddipet, Yadadri, Medak, Nizamabad, Banswada and lastly to Nirmal...

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Bharatmala project to provide NH linkage to 550 districts: Nitin Gadkari

The ambitious Bharatmala Pariyojana will be providing National Highway linkage to as many as 550 districts in the country, said Union Minister of Road Transport and Highways, Shipping, Water Resources, River Development and Ganga Rejuvenation Nitin Gadkari here on Tuesday...

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BJP to celebrate noteban anniversary as 'anti-black money day'

In a befitting response to non-BJP opposition parties plan to observe November 8 as ‘Black Day’, the BJP will be observing the day as ‘anti-black money day’...

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CM Chandrababu meets Foster and Partners to finalize project Amaravati

Andhra Pradesh Chief Minister N Chandrababu Naidu who is in London, on Tuesday met officials of Foster and Partners in order to finalize the most awaited design of the state capital Amaravati. ..

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Overtaking Hyundai Motors, Maruti becomes largest exporter of passenger cars

Maruti Suzuki India has displaced Hyundai Motor India Ltd to occupy the top spot of becoming the largest passenger cars exporter from India in the first half of the ongoing fiscal...

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Jaitley announces major initiatives for public sector banks and highways

Terming India as the world's fastest-growing economy Finance Minister Arun Jaitley mentioned that with strong economic fundamentals Indian economy is on right track...

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Identified 2 lakh shell companies to face criminal action

The suppression against black money has been sharpened by the government. Under the revamped Companies Act, the identified shell companies will be facing criminal action. The companies have already been struck off the Registrar of Companies earlier this year...

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