Economy

Centre announces new PPP Policy to promote private investments in affordable housing

A new era of growth in real estate sector has been targeted.The Central government has announced a new public-private partnership (PPP) policy on Thursday for affordable housing that allows extending central assistance of up to Rs.2.50 lakh per each house to be built by private builders even on private lands. Besides, it will also open up the immense potential for private investments in affordable housing projects on government lands in urban areas...

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India will be 3rd largest economy by 2028: HSBC

HSBC said that India is likely to overtake Japan and Germany to become the third largest economy in the next 10 years. The report by HSBC said that India needs to spend on aspects like health and education for the sake of economic growth and political stability...

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Big news from automobile industry! Mahindra and Ford enter strategic alliance

Mahindra group have entered into a strategic alliance with Ford Motors. The two companies said that they will explore joint product development while aiding each other in gaining a market penetration. ..

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SBI to charge 18% GST on exhaustion of free ATM withdrawals

State Bank of India (SBI) is set to charge customers with 18% GST for each ATM transaction post exhaustion of free ATM withdrawals. In April, the country’s largest bank reintroduced charges on non-maintenance of monthly average balance (MAB) after a gap of five years...

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Make secure payments straight from bank account! Use Google Tez

Are you drained out of cash? Don’t worry, Google Tez is there to help you. Google Tez, the new digital payment app for India. The app works directly from bank account; any separate account is not needed for transactions. Union Finance Minister Arun Jaitley was present at the launching event and made first inaugural transaction...

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Goa ACB detains Congress MLA Chandrakant Kavlekar over corruption charges

Goa legislative assembly and Congress MLA Chandrakant Kavlekar have been booked by Goa’s anti-corruption bureau (ACB) for stocking up on disproportionate assets of Rs. five crore...

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New Metro Rail policy released focusing on compact urban development

The fewer people use personalized vehicles in a city more the city becomes pollution free. Hence focusing on minimising the use of personal motorized transport, Housing and Urban Affairs Minister Hardeep Singh Puri has released the new Metro Policy for expanding the metro network. The new policy seeks to fulfill the desire of metro rail of a large number of cities but in a responsible manner...

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Prime Minister Modi to inaugurate Sardar Sarovar Dam on his 67th birthday

Ahead of the crucial state assembly polls, Prime Minister Narendra Modi will dedicate the world’s second biggest dam to the people of Gujarat. On his 67th birthday, Prime Minister Modi will inaugurate the Sardar Sarovar Dam, the most anticipated irrigation project nearly after sixty years. He is also scheduled to attend the concluding session of fortnight-long Narmada Mahotsav where he will address the mammoth gathering organized by the state administration...

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Better IT fracture will boost employment rate: Nara Lokesh

In order to improve the rate of in the state of Andhra Pradesh Cabinet Minister Nara Lokesh said that the state government is looking forward for an effective eco-system which can offer ample scope for employment generation with the help of advanced IT and other technologies...

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Global petrol price raised by 18%; India remains at only 4%

After the rise in the price of petrol and diesel the central government on Friday issued some of the facts related to the crude oil and comparison of international market price with Indian market price...

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Now Flipkart packages to become 'anti-theft'

Flipkart says that it will introduce ‘anti-theft packaging’ to securely deliver parcels to customers across the country. The newly innovated packaging, that is currently awaiting patent, incorporates special security features that make the packages both tamper-proof as well as tamper-evident...

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Corporate Affairs Ministry and CBDT sign MoU for automatic and regular exchange of information to prevent money laundering

Taking forward the initiative launched by the Government of India to curb the menace of shell companies, money laundering and black money in the country and prevent misuse of corporate structure for various illegal purposes, the Ministry of Corporate Affairs and Central Board of Direct Taxes (CBDT) have now concluded a formal Memorandum of Understanding (MoU) for data exchange, on 6th September, 2017. ..

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JNPCT awarded Container Terminal of the Year Award

The Jawaharlal Nehru Port owned Jawaharlal Nehru Port Container Terminal (JNPCT) has been awarded the “Container Terminal of the Year” Award for the above 0.6 million Twenty Foot Equivalent Unit (TEUs) category at The Gateway Awards 2017 held at Mumbai..

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Vijay Mallya to appear in London court today for his hearing on extradition case

Once upon a time liquor baron, Vijay Mallya will appear at the Westminster court in London today for a hearing in his ongoing extradition case over economic offences in India. Mallya is facing a list of never-ending economic offences and is currently out on bail. ..

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Action Black Money: Over 1 lakh directors of shell companies soon to get disqualified

Government has identified more than one lakh directors of shell companies for disqualification following cancellation of registration of nearly 2.1 lakh companies last week. “The fight against black money shall be incomplete without breaking the network of shell companies. Possibility of using the shell companies for laundering the black money cannot be undermined,” minister of state for corporate affairs P P Chaudhary said...

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Retail inflation rises to 3.36% in August, hits five-month high

Retail inflation rose to a five-month high of 3.36 percent in August due to costlier vegetables and fruits. The rate however is still below the Reserve Bank of India's (RBI) medium-term target of 4 percent...

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Around 300 million accounts have been registered under PMJDY: FM Jaitley tells UN Conclave

While addressing at Conclave on Financial Inclusion by United Nations in New Delhi, Finance Minister Arun Jaitley mentioned how Pradhan Mantri Jan Dhan Yojana has played a significant role in India’s financial inclusion sector. The scheme was not merely a half-hearted one with improper implementation but with a prominent goal. He also mentioned demonetization, the volume of cash has been reduced and tax base witnessed an increase...

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To act over recurring cases of building collapse, Maha Govt brings renovation policy for authorized tenanted buildings in Mumbai

Recurring incidents of building collapse in Mumbai which witness deaths of more than 50 people, to act over this state government announced about reconstruction and redevelopment policy for authorized tenanted buildings in Mumbai city and suburbs...

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World class products will pave the way of increased export of silk products

The enriched textile industry of India will be improved with a Memorandum of Understanding (MoU) between Central Silk Board (CSB), India and National Institute of Agrobiological Sciences (NIAS), Japan. The MoU is to aim at collaborative research in the field of silkworm and silk industries...

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Infosys to hire 6000 new engineers in 2 years

Infosys will hire about 6,000 engineers annually over next 1-2 years. The country's second largest software services firm has also ramped up its hiring process in the US and European markets...

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India-China to set up working groups to expand bilateral trade

In a bid to expand economic ties, India and China have agreed to set up industry specific working groups with a view to bridge the trade deficit with Beijing. Commerce Minister Suresh Prabhu said in a tweet that India wants greater market access in China for its goods and services like IT and pharma products. India's trade deficit with China has marginally narrowed down to 51.08 billion US Dollars in 2016-17 from 52.69 billion US Dollars in 2015-16...

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Venkaiah Naidu lays the foundation stone of the 1st Smart City in Ranchi; empowers people on education too

Newly appointed Vice-President Venkaiah Naidu on Saturday visited Jharkhand to lay the foundation stone of Greenfield Smart City at Ranchi. Along with the Greenfield, he also inaugurated Urban Civic Tower, Convention Centre and Jharkhand Urban Planning and Management Institute in the Campus of Ranchi Smart City Area. While speaking at the inaugural event, Naidu appreciated the natural resources and minerals excavated from the state. He also stressed upon the fact there should be transparency and order ..

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Under PMGKY, black money disclosed by 21,000 people amounts to Rs 4,900 crore

The biggest menace that the country has to deal with every time is black money. After the government announced demonetization, black money worth Rs 4,900 crore was disclosed by 21,000 people under the Pradhan Mantri Garib Kalyan Yojana (PMGKY), the stash money window. ..

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Govt soon to come up with Electric Vehicle policy to curb the menace of pollution

The increasing pollution worldwide is getting escalated by overuse of cars with petrol and diesel fuel. Hence to tackle the menace of politics, the government will soon bring in a policy on electric vehicles. For innovation in electric car vehicles, he asked carmakers to carry out research...

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Lalu Prasad and son Tejashwi summoned by CBI for IRCTC Hotel scam case

The IRCTC Scam which prompted the RJD-JD (U) split in Bihar seems to give Lalu Prasad Yadav a tough game in his political career. The Central Bureau of Investigation, CBI has summoned former RJD chief Lalu Prasad Yadav and his son Tejashwi in the alleged IRCTC hotels scam...

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NITI Aayog sets up task force on employment,export to boost job creation

As export and employment has a directly proportional relation, the government has constituted an expert Task Force to provide a major thrust to job creation by enhancing India’s exports. The Task Force is headed by NITI Ayog vice chairman Rajiv Kumar. The Task Force will seek expansion of the organized sector to address India’s unemployment and underemployment issue...

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Govt freezes bank accounts of more than 2lakhs ‘struck off’ companies

To prevent any kind of black money racket, bank accounts of 209,032 suspected shell companies have been frozen. The Department of Financial Services has advised all Banks that they should take immediate steps to put restrictions on bank accounts of such struck off companies. The banks have been advised to take immediate steps to put restrictions on bank accounts of struck-off companies...

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ED attaches Misa Bhartai’s farm house in Delhi

The Enforcement Directorate attached a farmhouse owned by Rashtriya Janata Dal (RJD) chief Lalu Prasad Yadav’s daughter Misa Bharti in Delhi’s Bijwasan area...

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International cargo surges by 6.2%; Domestic cargo growth at 8.0%: ASSOCHAM

Domestic cargo has registered a growth of 8.0% at a compound annual growth rate (CAGR) during FY07-17, whereas international cargo grew at 6.2% annually during the same period, according to an ASSOCHAM-Yes Bank joint study...

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Mumbai soon to get India’s longest ‘cycle’ track by 2019

Mumbai set to get India’s longest cycling and jogging track after Chief Minister Devendra Fadnavis approved the Brihanmumbai Municipal Corporation’s 39-km-long track which will stretch from suburban Mulund to Antop Hill in Wadala...

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Committee under Finance Ministry will take the final call on cryptocurrency: Arjun Ram Meghwal

Refuting all the reports regarding any policy decision on the subject of crypto currency for security and commodities related transactions Minister of State for Finance Arjun Ram Meghwal said that on the introduction of cryptocurrency in capital and commodities markets transaction the majority public view is negative. He was addressing the seminar on 'Capital Market-Vision 2020' organized by PHD Chamber of Commerce and Industry...

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Ganga on the Uttarakhand front to be clean again, would receive 3 sewage treatment plants at tourist spots

Rituals and culture forms the innate crux for any Indian. Indians respect their gods and the ritualistic norms and along with that comes “ritualistic material” which majorly includes flowers, incense sticks, fruits and innumerable number of items. Ganga, being a holy river which originates from the Himalayas is the dirtiest river in India. Millions of Indians dump all the ritualistic materials from Puja in the river due to which the pollution is peaking higher day by day. With the intention to reduce ..

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SC all set to hear Rs 64 cr Bofors pay off case next month

The apex court is all set to hear the much publicized 64 crore Bofors pay off case after a gap of nearly 12 years! The hearing of the case is likely to resume in October...

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Trade between India, UAE to reach $100 billion by 2020

Bilateral trade between the United Arab Emirates and India has grown effectively in few years and is projected to reach $100 billion by 2020. This has been possible due to India’s strong diplomacy which has given favourable conditions for UAE to do trade and also strong interest from companies and investors from the UAE to invest in the Southeast Asian country...

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Results of demonetisation extremely positive and met multiple objectives: FM Arun Jaitley

Commenting on RBI's recent report on demonetisaton, Finance Minister Arun Jaitley said that results of note ban was positive, adding that nearly 99% of Rs 1000 notes returned to Reserve Bank Of India (RBI)...

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Maha CM calls on Rajnath Singh to discuss security in Naxal-hit Gadchiroli district

Maharashtra Chief Minister Devendra Fadanvis accompanied with Union Surface Transport Minister Nitin Gadkari met the Union Home Minister Rajnath Singh in New Delhi to discuss the security arrangements in Naxal-affected Gadchiroli and Gondia districts of the state...

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Anti-China sentiment hits Oppo, Vivo sales

The anti-China protest in India over Doklam standoff has heavily impacted the sales of Chinese smartphone makers, Oppo and Vivo. The steep fall in sales and hostile environment have forced the firms to recall over 400 expats to China...

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Indian Ocean Conclave from Thursday, Sushma Swaraj to attend

Minister of External Affairs (MEA) Sushma Swaraj will participate in the two-day Indian Ocean Conference (IOC) scheduled to be held at Colombo from Thursday...

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“My priority is to bring stability to Infosys”; Nilekani says at first board meeting

On the crisis surrounding the IT firm Infosys, Nandan Nilekani, who has been appointed the chairman of Infosys on Friday held a meeting with its Board of Directors, said my priority is to bring stability to Infosys...

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Import of gold, silver from South Korea restricted by DGFT India

To prevent the extraordinary surge of gold and silver import from South Korea, the government restricted the import of these expensive metals from the country. On Friday Director General of Foreign Trade (DGFT) issued a fresh notice regarding the restriction. The restriction also includes of jewellery, precious metal and metal clad with precious metal, articles from goldsmiths or silversmiths or even precious metal coins...

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New task force on artificial intelligence constituted aiming at economic transformation

A new 18 member task force has been constituted to on artificial intelligence to explore potentials to leverage Artificial Intelligence. The Commerce Ministry has set up the new force aiming at an Economic Transformation. When the World is on the verge of witnessing the 4rth industrial revolution, the task force will digitize manufacturing sector. ..

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Rs 200 note coming soon!

As per reports, Reserve Bank of India will issue Rs 200 currency notes, tomorrow. To begin with, the total value of new Rs 200 notes would be around Rs 50 crore. The note will be issued from select RBI offices, and some banks...

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Centre nods for transfer of 40 acres of land-swap for completion of Metro rail project

Centre gave nod for transfer of 40 acres of Airports Authority of India (AAI) land at RR station, Dahisar to Mumbai Metropolitan Region Development Authority (MMRDA) for its metro shed swapping with 40 acres of State Government land at Gorai, Mumbai. The land transaction will enable MMRDA to complete the Metro rail project in Mumbai...

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Union Home Minister Rajnath Singh leaves for Kyrgyz Republic visit

Union Home Minister Rajnath Singh is leading a delegation on Wednesday to the Kyrgyz Republic to attend the 9th Meeting of Heads of Governments of Shanghai Cooperation Organization (SCO) Member states to be held on August 24-25, 2017, dealing with the prevention and elimination of emergency situations...

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We need to make India’s development a mass movement: Prime Minister Modi

Underlining the importance of Public participation in the process of governance Prime Minister Narendra Modi said that development should become a mass movement with the contribution of every individual from all walks of life. Addressing the forum of Young CEOs at "Champions of Change" event organized by NITI Aayog, Modi asserted that government will definitely take the note of various innovative ideas pitched by young CEO...

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Major boost in FDI sector, surges 37% to $10.4 billion during April-June

Foreign direct investment in the country grew by 37 percent to 10.4 billion US Dollars during the first quarter of the current fiscal. Notably, Modi government has announced several steps to attract foreign inflows...

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New chapter of India-US relation begins! First US crude oil shipment to reach India next month

Bilateral relations between India and United States have seen a whopping growth mainly in defence, trade etc. Noting one more chapter in a historical relation of New Delhi and Washington, the first consignment of American crude oil worth USD 100 million will reach India next month...

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New ₹ 50 banknote with Mahatma Gandhi image to hit market soon

The Reserve Bank of India will shortly issue ₹ 50 denomination banknotes in the Mahatma Gandhi (New) Series, bearing signature of Dr. Urjit R. Patel, Governor, Reserve Bank of India. ..

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India is adding new billionaire every month: World Economic Forum

With 101 billionaires, India stands at 4th position in the list of countries with the most number of billionaires, as per a World Economic Forum report. The report states that India has been producing one billionaire every month since 2010...

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Zero tolerance towards corruption; Nitish Kumar orders CBI probe into Bhagalpur NGO Scam

Bihar Chief Minister Nitish Kumar promised corruption free governance in the state. Regarding Bhagalpur NGO scam opposition was shouting against Nitish Kumar but proving their allegations wrong, Bihar CM instructed a CBI probe into Bhagalpur NGO scam. An NGO Srijan Mahila Vikas Sahyog Samiti is alleged swindling of government money to the tune of over Rs 950 crore by an NGO in Bhagalpur...

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High tech system to keep a tab on the status of bridges in Mumbai soon

The Brihanmumbai Municipal Corporation BMC has adopted a bridge management system (BMS) for maintenance and reconstruction of bridges in time after last year’s tragedy on the Mumbai-Goa highway, after last year’s tragedy on the Mumbai-Goa highway. ..

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NHAI to start work on project to decongest Dhaula Kuan – Airport Road Section of NH8

Nitin Gadkari, Minister for Road Transport and Highways and Shipping, will lay the foundation stone for NHAI's project to decongest one of Delhi's most congested corridors which leads to Indira Gandhi International Airport on August 14..

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Soon Roads and Highways sector will have independent financial body to cater development needs

As every sector has been backed up financially which is essential core needed for the development. Minister for Road Transport, Highways and Shipping Nitin Gadkari expressed hopes for setting up the independent ‘financial arm’ which will solely cater to the roads and highways sector...

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India faces risk of deflationary impulses owing to stressed agri revenues: Economic Survey

According to the Economic Survey 2016-17 Volume-2, tabled in Parliament today, India faces the risk of deflationary impulses owing to stressed agricultural revenues, bad loans, farm loan waivers and the fiscal tightening they would entail, that could push inflation below the Reserve Bank of India`s (RBI) targeted 4 per cent by March 2018...

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India- US Global Entrepreneurship Summit 2017 is unique opportunity for unifying entrepreneurs and start-ups with global leaders: PM Modi

In order to bring together all the global entrepreneurs and start-ups with global leaders, Global Entrepreneurship Summit will kick start from 28-30 November 2017. India-US will be hosting Global Entrepreneurship Summit 2017...

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Narada Sting probe in progress; Kolkata Mayor Sovan Chatterjee appears before ED

The ruling party of West Bengal Trinamool Congress is devastated with various scams. Sarada and Narada financial scams hit TMC badly before 2016 Bidhansavha election. Many top level TMC leaders including Mayor of Kolkata Sovan Chatterjee were alleged of taking a bribe from a journalist. The investigation is going on in Narada case. On Thursday Kolkata Mayor appeared before Enforcement Directorate(ED) office...

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#MakeInIndia: Indian handset market records 350 million shipments

Indian handset market has crossed 350 million shipments in 2017 as against 280 million in 2016. Revenue accrued from the shipments has surged from 111,000 crore ruppes to 135,000 crore ruppes in 2016, a study by ASSOCHAM-KPMG showed...

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End to a long term tussle; Bengal assembly passes GST bill

Finally putting a fool stop to State-Centre tussle regarding GST, Bengal assembly passed GST bill on Tuesday. The discussion on GST bill started from Monday to replace the ordinance passed earlier on GST. Almost every state passed GST in recent months...

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#Demonetisation impact: 25% more IT returns files, advance tax collections up by 41%

The Government on Monday said there has been a substantial increase in the number of Income Tax Returns (ITRs) filed due to demonetization and Operation Clean Money. In a statement, the Finance Ministry said, the number of returns filed has registered an increase of around 25 percent compared to 10 percent in the previous year. It said, as on last Saturday, more than two crore 82 lakh ITRs were filed as against around two crore 27 lakh filed in the last financial year...

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Think before trusting advts! 4519 complaints of misleading advt registered in last 2 years

You can be taller just by drinking a health drink or fairer in one month, thinner in two months. Hormones, Genetical mutation nothing matters. Yes, advertisements often show us these things and we fall into the trap. To prevent such fake misleading advertisements Department of Consumer Affairs launched an online portal called Grievance against Misleading Advertisements (GAMA). From 2015 to 2017, total 4519 complaints regarding misleading advertisements have been registered in the registered in the ..

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Govt serious on river linking projects, assures Uma Bharti

The Union Government is serious on river linking projects and the first such project that could take off in near future would be “Ken-Betwa” link project, informed Union Water Resources Minister Uma Bharti on Thursday...

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GOOD NEWS! RBI cuts repo rate by 25 basis points; home, auto loans to go cheap

The Reserve Bank of India on Wednesday lowered the benchmark repo rate by 25 basis points to 6 percent from 6.25 percent. The Central bank had last cut key rates in October 2016. The rate cut was in line with market expectations, triggering hope of lower borrowing costs for households ahead of the festival season...

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Former media advisor of PM Manmohan Singh Sanjaya Baru will be the next secretary-general of FICCI

Senior journalist Sanjay Baru has been appointed as the new secretary-general of the Federation of Indian Chambers of Commerce and Industry. Popularly known for his controversial book 'The Accidental Prime Minister', Baru has served as the media advisor to former Prime Minister Manmohan Singh from May 2004 to August 2008. ..

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Snapdeal takes a bold you turn; calls off sale to Flipkart

After months of negotiations, Snapdeal has put an end to its sale plans as it decided to remain independent. Although the investors including SoftBank has spent a lot of time engineering an all-stock transaction, founders Kunal Bahl and Rohit Bansal chose to pull the plug on acquisition talks...

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India, Bhutan Trade and Transit pact has come into force

The new Agreement on Trade, Commerce and Transit between India and Bhutan has come into force with effect from 29th July. The agreement is expected to further ensure the swift movements of goods and enhance trade and investment with Bhutan...

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SBI cuts interest rate on savings account by 0.5%

The State Bank of India has slashed interest on savings account deposits by half a per cent to 3.5 percent on balance up to 1 crore rupees. The bank said, for saving deposits balance above 1 crore, the rate of interest has been retained at 4 percent per annum...

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Indefinite strike hits production of Darjeeling Tea

Worldwide tea lovers are fond of famous Darjeeling Tea. Due to the continuous agitation in Darjeeling, the economical productions of the region have severely declined. A recent Tea Board report shows production of Darjeeling Tea has plunged 90 per cent if compared to same month of last year. In addition to Gorkhaland agitation, a two-day labor strike also worked as a catalyst...

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Shell Companies need to end illegal transactions; Task Force tackling malpractices effectively

In recent years, the suspicion for the works of Shell Companies has increased among professionals. The Shell companies can create menace anytime by helping corporate houses to reduce cost. And avoid the cost. This is a clear practice of forgery to country’s economy. To prevent this malpractice, ‘Task Force on Shell Companies’ was constituted in the earlier part of this year. The task force has taken several steps to put an end to the activities...

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Snapdeal okays Flipkart's $950mn takeover deal

After weeks of negotiations, Snapdeal has reportedly accepted Flipkart's revised acquisition offer of $950mn. With this, the Indian e-commerce industry will have only two major players - homegrown Flipkart and US-based Amazon...

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With ‘Innovation Policy’, Telangana to set up fund of Rs 2000 Cr to encourage entrepreneurs

In order to promote industrial development, Telangana has come up with ‘Innovation Policy’ which aims to encourage entrepreneurs to establish their start-ups in urban as well as in the rural areas. ‘Innovation Policy’ also aims to offer incentives for the investors. ..

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Odisha nods for ‘Rural Road Maintenance’ policy to plan and execute rural roads in efficient manner

Odisha gave nod for a proposal to formulate ‘Rural Road Maintenance’ policy for the planning and execution of rural roads in planned and efficient manner. Under this ‘Rural Road, Maintenance’ policy a comprehensive road data base consisting of road inventory details, road section inventory and road condition index report for every rural road would be prepared...

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Now, Jio will offer FREE internet to students!

After bombarding the telecom industry with free mobile data packages, Reliance Jio now wants to provide free internet to 3 crore college students. The Ministry is currently looking into the proposal...

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After Prez Kovind’s oath, Sensex hits the historical 10,000 mark

After sworn-in Ram Nath Kovind as the 14th President of India, Nifty reached a record high of 10,000 mark, Sensex soared to its lifetime high of 32,374.30 by rising by 128.43 points. The peak is attributed to widespread buying, spurred by strong results and upbeat global cues. Experts claim that the continuous rally of global markets coupled with influx of foreign investments have kept the bull Run going in stock markets...

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13,872 villages electrified under rural scheme DDUGJY says Piyush Goyal in Rajya Sabha

With an aim to electrify the villages of India, Government till now brightened 13,872 villages electrified till 30th June 2017. Himachal Pradesh, Punjab, Haryana, Gujarat, Maharashtra, Kerala, Tamil Nadu, Andhra Pradesh and Sikkim are the states where 100% villages are electrified till date...

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BRO in Arunachal construct 2 tunnels in Sela pass; will cut travel time to China border

Beside the ongoing Indo-China crisis from the last one month, the Border Roads Organisation (BRO) from the Indian side took a major move of setting up construction of two tunnels through 4170-metre Sela Pass in Arunachal Pradesh which will cut down the distance by 10 kms to China border through Tawang...

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India-Africa trade expected to touch $117 billion by 2020-21 indicating stronger relation

Africa is a developing market for traders from all over the world. From defense to trade, Africa and India have always bonded well. This year for first time India hosted African Development Bank’s annual summit. Indicating stronger relation, a study has reported that India’s trade with African countries is likely to touch $117 billion by 2020-21. Stronger economic ties and strong business opportunities will pave the way...

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Big Relief to small businesses; opt for GST composition scheme till August 16

The Government has extended the deadline for small businesses for filing intimation for Composition levy under GST to the 16th of next month. Small businesses with turnover of up to 75 lakh rupees earlier had time till Friday to opt for the scheme...

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BRO in Arunachal construct 2 tunnels in Sela pass; will cut travel time to China border

Beside the ongoing Indo-China crisis from the last one month, the Border Roads Organisation (BRO) from the Indian side took a major move of setting up construction of two tunnels through 4170-metre Sela Pass in Arunachal Pradesh which will cut down the distance by 10 kms to China border through Tawang...

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World’s 1st full-scale experiment to produce electricity from ocean current unveiled in Japan

In a world where Energy crisis is mounting day by day, searching an infinite energy source is very important. As Ocean current is a limitless energy source, World’s 1st test set to produce electricity from ocean current. Heavy machinery manufacturer IHI Corp in Japan has planned to conduct the 1st experiment for generating electricity from ocean current. This is World’s first full-fledged experiment on such planning...

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India-Africa trade expected to touch $117 billion by 2020-21 indicating stronger relation

Africa is a developing market for traders from all over the world. From defense to trade, Africa and India have always bonded well. This year for first time India hosted African Development Bank’s annual summit. Indicating stronger relation, a study has reported that India’s trade with African countries is likely to touch $117 billion by 2020-21. Stronger economic ties and strong business opportunities will pave the way...

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Big Relief to small businesses; opt for GST composition scheme till August 16

The Government has extended the deadline for small businesses for filing intimation for Composition levy under GST to the 16th of next month. Small businesses with turnover of up to 75 lakh rupees earlier had time till Friday to opt for the scheme...

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Fake Chinese parts used in India-made Bofors guns; CBI files FIR

The Central Bureau of Investigation (CBI) has filed a case of criminal conspiracy and cheating against a Delhi based firm, for selling Chinese parts camouflaged as 'Made in Germany' to Jabalpur's Ordnance Factory. The Agency also registered a case against unknown official of Guns Carriage Factory (GCF), Jabalpur over the same. The parts used in Dhanush guns, a domestic version of the Bofors artillery guns were shown as procured from CRB Antriebstechnik. Notably, GCF tests showed that the bearings ..

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#RelianceAGM: Jio to cover 99% of population in next year; launches #JioPhones for 'Free'

Reliance Industries (RIL) chairman Mukesh Ambani turned emotional at 40th annual general meeting (AGM) as he dedicated the achievements of the company including the turnover 3,30,000 crore rupees to his father and Reliance founder Dhirubhai Ambani...

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Cyber Security is top priority for Railways with use of exhaustive technologies: Suresh Prabhu

Computerisation on Indian Railways started about three decades ago and major activities like Ticketing, Freight operations, Train operations and Asset management now rely heavily on IT Systems, informed Railway Minister Suresh Prabhu. He noted that now Cyber Security on Indian Railway has been identified as the focus area...

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Hurry up! Now stop all that you are doing, open your Paytm app and buy Gold

It is obvious for all of us, that when it comes to buying gold… we think twice, thrice or more than 10 times! Gold! Expensive! Better will wait to fall down the rates of Gold! Etc. Wait! There is good news. Online wallet company Paytm has introduced the feature of availing cashback in the form of Paytm Gold...

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India’s GDP growth will grow at 7.6% in 2018: Asian Development Bank

The Asian Development Bank (ADB) has projected India's growth rate of 7.4 percent this year and 7.6 percent next year on strong consumption demand. ADB said in a supplement report that South Asia will be the fastest growing of all sub-regions in Asia and the Pacific, with growth on track to meet original projections of 7 per cent in 2017 and 7.2 per cent in 2018...

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To boost road connectivity, Govt upgraded 51,300 km state roads as national highways

In a bid to improve road network across the country, Modi Government renewed 51,300 km state roads as national highways. The declaration of state roads as new National Highways is done from time to time depending upon the requirement of connectivity, inter-se-priority and availability of funds...

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Over 2.63 crore BPL households electrified under rural scheme DDUGJY

With an aim to electrify the villages of India, the government has brightened over 2.63 crore BPL households till 30th June of this year under Deen Dayal Upadhyay Gram Jyoti Yojana (DDUGJY). This was stated by Power Minister Piyush Goyal in Lok Sabha on Thursday...

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India-Japan nuclear pact entered into force

India is developing the defense sector with several initiatives. In last November, India Prime Minister Narendra Modi visited Tokyo. During this visit, the civil nuclear cooperation pact was signed and Japan's parliament approved the pact in June. The agreement entered into force on July 20.The agreement came into force with the exchange of diplomatic notes between Foreign Secretary and Ambassador of Japan to India...

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Railway aims to achieve output of 15 km per day in the year 2018-19, 20 km per day in 2019-20

Indian railways have the vision to achieve an output of 15 km per day in the year 2018-19 and 20 km per day in the year 2019-20, stated Railway Minister Suresh Prabhu. He also noted that the work for the same is being executed through a joint venture with the state...

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CM Patnaik dedicated Odisha’s longest bridge to enhance connectivity and save travelling time

The much-awaited Trisulia Bridge over the Kathajodi River has finally been inaugurated by Chief Minister Naveen Patnaik which has brought a sigh of relief to the commuters between Twin Cities. This Kathajodi Cuttack-Trishulia bridge has been named after Netaji Subhash Bose. The bridge is 2.88 km long built on the outskirts of the state capital linking with the silver city, Cuttack, will now reduce the distance between Cuttack and Bhubaneswar by almost 12 kms...

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Railways set to provide quality medicines at affordable prices at railway stations

People can soon buy generic drugs at cheaper prices from railway stations. The campaign has been launched by the Department of Pharmaceuticals, Ministry of Chemical and Fertilizers, to provide quality medicines at affordable prices to the masses through special outlets. ..

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Over 188 Yatri Ticket Suvidha Kendras are functioning in Indian Railways

With a view to expanding the facilities for the issue of tickets (both reserved and unreserved) approximately 188 Yatri Ticket Suvidha Kendras (YTSK) are functioning in Indian Railways. Ministry of Railways has allowed public private partnership in establishment and operation of computerised Passenger Reservation System (PRS)-cum Unreserved Ticketing System (UTS) terminals at centres which are called Yatri Ticket Suvidha Kendra (YTSK)...

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Public sector company employees to get 15% hike in salary

ublic sector company employees are again going to get good news. On Wednesday, Cabinet cleared a 15 per cent hike in salaries for public sector company employees. The 3rd Pay Commission for central public sector enterprises' employees has been approved. ..

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Jharkhand will be fully electrified by 2018, promises CM Raghubar Das

Jharkhand might not be the same ever again. Yes, Chief Minister Raghubar Das has been meeting state regulatory boards of each department to ensure smooth functioning of the state with smiles evident on each and everyone’s face. The CM held a review meeting in presence of state executive agencies and Regulatory Commission Chairman Arvind Prasad. Pointing out the visionary sketch of India by PM Narendra Modi, Das has urged every company to work in the spirit of ‘deshseva’ to ensure electricity supply ..

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Malaysia keen to participate for India’s Rail Station redevelopment

In connection with Station Redevelopment Program, Malaysian Delegation on Tuesday expressed interest in Station Redevelopment Program. Railway Station Redevelopment Program is the World’s Largest Station Redevelopment Program aimed at Redeveloping 400 Stations through Partnerships with Private Players (PPP)...

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Malaysia keen to participate for India’s Rail Station redevelopment

In connection with Station Redevelopment Program, Malaysian Delegation on Tuesday expressed interest in Station Redevelopment Program. Railway Station Redevelopment Program is the World’s Largest Station Redevelopment Program aimed at Redeveloping 400 Stations through Partnerships with Private Players (PPP)...

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Malaysia keen to participate for India’s Rail Station redevelopment

In connection with Station Redevelopment Program, Malaysian Delegation on Tuesday expressed interest in Station Redevelopment Program. Railway Station Redevelopment Program is the World’s Largest Station Redevelopment Program aimed at Redeveloping 400 Stations through Partnerships with Private Players (PPP)...

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Malaysia keen to participate for India’s Rail Station redevelopment

In connection with Station Redevelopment Program, Malaysian Delegation on Tuesday expressed interest in Station Redevelopment Program. Railway Station Redevelopment Program is the World’s Largest Station Redevelopment Program aimed at Redeveloping 400 Stations through Partnerships with Private Players (PPP)...

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Malaysia keen to participate for India’s Rail Station redevelopment

In connection with Station Redevelopment Program, Malaysian Delegation on Tuesday expressed interest in Station Redevelopment Program. Railway Station Redevelopment Program is the World’s Largest Station Redevelopment Program aimed at Redeveloping 400 Stations through Partnerships with Private Players (PPP)...

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Malaysia keen to participate for India’s Rail Station redevelopment

In connection with Station Redevelopment Program, Malaysian Delegation on Tuesday expressed interest in Station Redevelopment Program. Railway Station Redevelopment Program is the World’s Largest Station Redevelopment Program aimed at Redeveloping 400 Stations through Partnerships with Private Players (PPP)...

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Chinese Overfishing harming West African economy, experts say

The demand for sea food is worldwide which creates a multi-billion-dollar industry. The coast off West Africa is enriched with sea creatures. To explore this rich seafood mine, different foreign vessels capture a huge amount of fish there. After fishing, those are usually shipped to Europe, China, US. An analysis published in local media has shown overfishing is threatening for African economy. ..

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Yay! Finally India’s 1st solar train takes ‘path-breaking’ leap towards safe environment

As the nation was in talks about the ‘solar powered’ railways, Finally Indian Railways got its 1st solar powered local train which consists around the total of 16 solar panels, each producing 300 Wp in six coaches. ..

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Japan PM Abe wants to prioritize human resource development in 2018 budget

Human resource is more important than any other resources of a country. Without a workforce, any economy will come to closure. With an aging population, the decline in workforce Japan is facing a real crisis in human resource. Hence Japan Prime Minister Shinzo Abe said Friday raising human resources should be given priority in allocating funds under the fiscal 2018 state budget...

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Book ticket, order meals or lodge complaint! Railways app ‘SAARTHI’ gives all services on one click

Stressing on ‘Rail Badhhega-Desh Badhhega’ concept, Ministry for Railway Suresh Prabhu launched several passenger friendly initiatives to maintain and cherish the relationship with commuters. Initiatives like Rail-SAARTHI, additional facilities for physically-challenged, promoting rail tourism, the new policy of reservation for foreign tourists and launch of integrated mobile application for passengers. ..

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Bank charges reduced! Know more here

State bank of India (SBI) has cut charges for National Electronic Funds Transfer and Real Time Gross Settlement transactions by up to 75%. NEFT fee for transactions up to 10,000 rupees has been cut to 1 rupees from 2 rupees earlier...

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Operation Clean Money-II: IT Dept detects 5.5 lakh more people for suspicious transactions

The Income Tax department in the second phase of Operation Clean Money (OCM) has identified over 5.56 lakh individuals for investigation into claims of excessive cash sales during the demonetization period. Another 1.04 lakh persons who did not disclose all bank accounts during e-verification in the first phase of OCM have also been identified...

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Mallya's extradition underway from UK: MEA

External Affairs Ministry spokesperson Gopal Baglay on Thursday said that the process for extraditing Vijay Mallya from UK is already underway. He said that PM Narendra Modi had raised the matter with British PM Theresa May on the sidelines of G-20...

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CBI arrests Ranchi IT Commissioner in corruption case

Principal Commissioner of Income Tax, Tapas Kumar Dutta has been arrested from Ranchi by the Central Bureau of Investigation (CBI) in connection with an ongoing investigation of a corruption case. The case has been registered against Dutta, three other officials of the IT Dept and six others. There are allegations of criminal conspiracy, illegal gratification and criminal misconduct, against the accused, CBI Said...

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TMC leaders putting great effort to avoid CBI interrogation of Narada case

The six-year rule of Mamata Banerjee has failed to give anything to Bengal but different scams. The Narad scam where a video sting caught TMC leaders red-handed accepting bribes made great controversies. CBI charged filed against TMC leaders involved in Scam. Now CBI ordered Subrata Mukhopadhyay and Kakoli Ghosh Dastidar to appear before CBI court on Thursday. But the TMC leaders are not appearing before CBI Court currently with using the coming party gathering as the reason...

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Workshop on ‘Sagarmala’ project kicks off in Odisha to boost coastal shipping and inland navigation

A workshop titled ‘Promoting Coastal Shipping and Inland Navigation in India’ organised by the Ministry of Shipping kicked off in Bhubaneswar. This workshop aims to raise the awareness regarding Sagarmala programme which deals with coastal shipping and inland navigation...

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Cabinet nods for NH-39 to link Manipur-Myanmar roads

National Highway 39 got a nod on Wednesday which will reduce travel time. The Cabinet approved road linking Manipur with Myanmar which is between Imphal and Moreh located near the Myanmar border...

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Ghana launches 2017–2020 cooperation strategy with Switzerland

Ghana is one of the promising markets in Africa. The European nation Switzerland mainly trades with Ghana among all African nations. Swiss Confederation President Doris Leuthard visited Ghana. A cooperation strategy for 2017 to 2020 was launched in the presence of Leuthard and Ghana’s president, Nana Addo Dankwa Akufo-Addo...

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Putin wants inclusion of advanced technology in Russian financial sector

St. Petersburg, July 13: Indian Prime Minister Narendra Modi wants India to advance digitally in every sector, especially in economy. Like that only, Russian President Vladimir Putin also wants his country to go digital. On Thursday in a financial meet, Putin sent this greet telling the need to implement advanced technologies to increase the competitiveness of the Russian financial sector. In International finance Congress(2017) Over 1,200 business leaders, experts and officials participated. This ..

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Japan keen to invest for development of Andhra’s capital

Japanese companies expressed interest in the construction of Andhra Pradesh’s (AP) capital city Amaravati. Chief Minister N. Chandrababu Naidu enlightened that the Japanese companies would invest in the construction of Amaravati as world class city in five selected areas...

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After 18 years, Inflation drops record 1.54% in June

Retail inflation fell to a record low of 1.54% in June this year as prices of vegetables and pulses fell sharply, even as there was an increase in fruit prices. Growth in the country's industrial output slowed to 1.7 percent in May this year, year-on-year. Industrial output had grown 8 per cent in May last year...

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Railways come up with ‘Nivaran’ portal to redress grievances; ‘Rail Cloud’ for digitisation

Railways are taking various initiatives for benefiting their passengers and providing them with better facilities. Recently, Railway came up with new initiative ‘Rail Cloud Project’, ‘Nivaran’ and ‘Cashless treatment Scheme’ in Emergency (CTSE) Scheme and Handing over of 1st CTSE Card...

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Smart power meter in Tripura households will ensure timely collection of power bill

Tripura has decided to install smart electricity consumption meters up to household level across the state in a time bound manner to ensure timely collection of the power bill. Smart meters have already been installed in more than 8000 households out of 1.5 lakh odd customers’ households...

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Cabinet clears four laning roads on Solapur to Bijapur

Development of four laning of Solapur-Bijapur section for new National Highway (NH)-52 (formerly NH-13) between Maharashtra and Karnataka got an approval by Cabinet today. The development of 4 laning of about 110 km is estimated to cost approximately Rs 1889 Crore including the cost of land acquisition and pre-construction activities...

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Thailand approves $5.5 bn for China to export bullet train technology

To build the first phase of a high-speed railway, Thailand's government on Tuesday approved $5.5 billion after a long delay that will ultimately link Thailand’s Bangkok to southern China. This is the first time that China has received overseas order to export its bullet train technology...

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Assam CM urges Center for help to connect every household with Internet

With an aim to connect every household of Assam with the internet, Chief Minister Sarbanda Sonowal has insisted the Center initiate actions for setting up a fibre (broadband) grid. Henceforth Assam won’t suffer from lack of internet issues...

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Legacy of corruption to be continued; Lalu’s son will not resign from deputy CM post

The ongoing scam, CBI raid at properties of Lalu Prasad, the case against his son Tejashwi Yadav who is the current deputy CM of Bihar in hotel case has compelled him to convene a meeting of all party legislators. After the leaders meet, it has been declared in a press conference that Lalu’s son will not resign as deputy CM...

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Only 3570 census villages are left to be electrified under rural electrification scheme ‘DDUGJY’  

With an aim to electrify the villages of India, Government till now brightened 99.4% of census villages till date and only 0.6% percent villages are remained to b electrified. Notably, 593,894 villages out of 597,464 census villages till date have been electrified till date and remaining 3570 villages will be electrified soon...

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Farmers join hands to establish sheep farms across Telangana

With an aim to encourage people for taking up the traditional occupations and make them profitable, the Telangana government launched the sheep distribution scheme. This new scheme is generating innovative ideas among the younger brigade of sheep and goat farmers. Several young sheep farmers are joining hands taking the advantage of the scheme and turning into entrepreneurs to establish sheep farms in different parts of the State...

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Post GST uniform rate of UJALA appliances across country comes into effect

After GST has come into effect, the price of several commodities are changing according to the new tax regime. Common mass is sometimes unaware of this change. Hence Ministry of Power has notified the prices of energy efficient appliances. Unnat Jeevan by Affordable LEDs and Appliances for All (UJALA) distributes such appliances. According to the notice, The 9W LED bulbs are priced Rs70/-, 20W LED tube light Rs 220/- and 5-star rated fans will be available at Rs1,200/- only. ..

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After CBI raids on Lalu Yadav's properties, ED searches Misa Bharti's farm house

Immediately after the CBI raids on properties of Lalu Prasad Yadav and his family on Friday, the sleuths of Enforcdement Department conducted searches at the farm house of Lalu's daughter and Rajya Sabha MP Misa Bharati on Saturday...

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Tesla Company set to build world’s largest power system to combat energy crisis in Australia

To combat energy crisis in Australia, Elon Musk’s Tesla Company set to build world’s largest battery storage facility. A 100-megawatt Power-pack system will be paired with a wind farm near Jamestown, South Australia will also help maintain the reliable operation of South Australia's electrical infrastructure...

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People living in ‘Kuchcha houses’ are provided with best quality homes under PM Awaas Yojana

The challenge of completing 51 lakh homes under the Pradhan Mantri Awas Yojana (Gramin) by March 2018 seems to be possible now. Already over 33 lakh houses are at different levels of construction and the remaining 18 lakh are also in the process of starting work after due approvals...

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Japan, EU seal free trade deal sending a 'robust message' against protectionism

To establish free trade and open economy is a long-lasting dream of Japan. In last Japan – EU talk Japan could not secure the deal of free trade before G-20 summit. As differences remained over tariffs on European dairy and farm products and other sensitive issues, the agreement on free trade was out of reach. Finally bringing happy news, Japan and the European Union reached a broad agreement on a free trade deal. This is a symbol of their effort to promote an open economy...

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CBI raids Lalu Prasad's residence over alleged irregularities in railway hotel tender

Patna, July 6: The Lalu regime of Bihar is full of never-ending corruption list. Regarding Iirregularities in a Hotel Tender case, CBI Has filed a case against former Bihar chief minister Lalu Prasad Yadav, his wife Rabri Devi, their son Tejaswi who is Bihar’s Deputy Chief Minister. CBI also raided his house on Friday morning. In 2006, tender was awarded to private Sujata Hotels for development, maintenance and operation of BNR Hotels in Ranchi and Puri. Irregularities have been noticed and based ..

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New GST facilitation cell established to guide food industry about GST regime

Any reformation takes the time to be properly implemented. Goods and Service Tax(GST) is not an exception from this norm. The food industry is a huge industry that needs the proper attention for exact implementation of the new tax regime. The Ministry of Food Processing Industries has established a four-member GST Facilitation Cell at its office to guide the industry about the new tax regime. ..

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Snapdeal rejects $850 million offer from Flipkart

The board of Snapdeal has rejected the $850 mn takeover offer of Flipkart. The offer was rejected since it fell short of $1 bn valuation that its biggest investor SoftBank Group Corp had sought through the merger...

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Power Ministry launched new app, portal for utilization of coal to reduce power generation cost

With the help of the internet and new technologies India is going digital. The current government is using new portals and apps in various sectors to make administrative work easier. Following the work manner, the Power Ministry on Wednesday launched a mobile application and a portal to States to select Independent Power Producers (IPPs). This will help the utilization of domestic coal. Prime Minister Narendra Modi’s ‘Minimum Government and Maximum Governance’ through ‘Speed, Skill and Scale’ vision ..

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#GSTeffect : Tata Motors announces 12% discount on its vehicle

To pass the benefits of the new tax regime, Goods and Services Tax (GST), to all customers, Tata Motors announced a price reduction by up to 12 percent, ranging between Rs 3,300 and Rs 2,17,000 depending on the model and variant...

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#PMGSY sets new record by constructing 130 kms road per day in 2016-17

The Modi government’s new achievement has made the Opposition uncomfortable. Under Centers flagship scheme Pradhan Mantri Gram Sadak Yojana (PMGSY), pace of construction of roads reached a 7 year high of 130 kms per day in 2016-17 as against an average of 73 kms during the period 2011 to 2014...

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After GST, change in MRP on unsold stock can be done via stickers till 30th September

On 1st July, India experienced the biggest reform in Economy. The long awaited Goods and Service tax rolled out but as it is new act there are many existing confusions among stakeholders. Hence there may be instances where the retail sale price of a pre-packaged commodity is required to be changed. To solve the issue, Department of Consumer Affairs allowed a change in MRP on unsold stock prior to implementation of GST till 30th September 2017...

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Government constitutes central monitoring committee for real-time tracking of GST process

Refuting all the media reports regarding the price hike after GST Revenue Secretary Hasmukh Adhia said that government is closely monitoring price and supply situation post-GST implementation and there was not a single incident of a hindrance in the implementation of the new tax regime since its roll-out...

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No Govt job, passport if you unnecessarily pull chain of train

You will be made ineligible for a government job if you unnecessarily pull the emergency chain of a train. People caught pulling chains will have to pay a fine of Rs 1000 or one year sentence or both, under the Railway Act. They will also be ineligible for passports and government jobs under the new system. The Ministry of Railways has given the green signal for this...

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Chennai set to become ‘Megapolis’ as State Govt nods to expand Metropolitan Planning Area

The Chennai Metropolitan Planning Area is set to become the biggest in the country, after the Tamil Nadu government gave its nod to merge the neighbouring districts, Kancheepuram and Thiruvallur, and Arakkonam taluka in Vellore, to form an 8,878 square km Megapolis...

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ADB sanctions $220 million to boost road connectivity in Rajasthan

The Asian Development Bank (ADB) and the Government of India yesterday signed a $220 million loan for improving connectivity as well as transport efficiency and safety on State Highways of Rajasthan...

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Digital India not yet a ‘reality’ as 94% customers favor visiting bank branch over e-banking: Study

On one side India seems to pave its way towards ‘Digitalization’ in terms of banking especially, but on another side the branch still continues to dominate banking channels in India, with 94% of retail banking customers having visited the branch at least once in the past 12 months, a new study revealed. ..

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Singapore to boost more air links in India at lower fares

With an aim to overtake China and Indonesia, to become the fastest-growing air traffic generating market, Singapore set to explore more airline services to India at lower fares. Singapore’s Changi Airport Group’s Managing Director for Air Hub Development Lim Ching Kiat said that the new services have been explored to Pune, Madurai, Bhubaneswar, and Guwahati will be added to the 15 cities in India that airlines already operate to and from Singapore...

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Best from ‘Waste’ to generate power for Bangalore

In spite of previous failing attempts, now Bruhat Bangalore Mahanagara Palike (BBMP) trying to gain power from the waste. It is planning to set up waste-to-energy plants at three segregation units. Bangalore will be taking another chance of generating power from waste as it has floated a tender for waste-to-energy plants at the already operational waste segregation units...

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By investing Rs 4,000 Cr Telangana set to generate 5000MW solar power by 2019

Telangana is all set to utilise Rs 4,000 Crore to provide power supply to all by 2019. The state aims to generate 5000 MW solar power in next three years. Andhra Pradesh has earlier adopted a ‘distributed development model’ to develop units based on the demand-supply situation...

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Indian textile industry gives direct employment to millions of people: Radha Mohan Singh

Agriculture Minister Radha Mohan Singh while speaking at the Textiles India 2017 Conference in Gandhi Nagar, Gujarat said that natural fibres are the backbone of the Indian textile industry. It constitutes more than 60% of the total fibre industry. After the agricultural industry, the Indian textile industry gives direct employment to millions of people...

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Japan-EU talk fails to reach conclusion over free trade

The European Union and Japan aimed at promoting all forms of industrial, trade and investment cooperation. They are important global partners which share fundamental values. The EU is Japan’s major trading and investment partner which contributes to approximately 10% of Japan’s total trade volumes. A two-day talk was held to reach agreements on certain issues. But as differences remained over tariffs on European dairy and farm products and other sensitive issues, the agreement on free trade was out ..

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#1TaxBenefitsMax: 1 lakh jobs to be generated in next three months

One lakh jobs will be created in the next three months following the implementation of Goods and Services Tax, GST. This was stated by the Union Minister of State for Labour and Employment Bandaru Dattatreya while addressing a press conference...

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PM Modi describes GST as “Good and Simple Tax” which would benefit people

Prime Minister Narendra Modi along with President Pranab Mukherjee on a midnight of 30th June Minister pressed a button to mark the historic launch of GST. Notably, the new tax regime which is replacing more than a dozen state and central levies built up over seven decades, with a one national GST unifying the country's 2 trillion dollar economy and 1.3 billion people into a common market...

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India's first mega textiles trade fair ‘Textiles India 2017’ signs 65 MoU

With an idea that the current age is a golden era for the development of textile industry, 65 Memorandum of Understandings (MoU) were signed in the textile sectors. MoUs were signed between various domestic and international organisations from industry and government...

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The Midnight Stroke and the Tax Revolution

With the introduction of GST India joined those 160 countries that have similar tax regime in the world...

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WELCOME GST

The Stage is set for the launch of a nationwide the single tax regime, GST, at a function in the Central Hall of Parliament at midnight tonight. Prime Minister Narendra Modi will unveil the new tax regime replacing more than a dozen state and central levies built up over seven decades, with a one national GST unifying the country's 2 trillion dollar economy and 1.3 billion people into a common market...

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‘Solar Power’ soon to power un-electrified Assam villages

To ensure uninterrupted power supply to all villages and towns in Assam, the Power Department was asked to formulate a comprehensive policy for harnessing solar power in the State. Chairing a meeting of the power department in Guwahati on Thursday, Assam Chief Minister Sarbananda Sonowal requested the department to put in place a complaint box to address the grievances of the consumers on a priority basis...

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India’s another historic “Tryst with Destiny” a la Modi style

At the stroke of midnight tonight the country will witness another Tryst with the Destiny as the GST will be rolled out making India One Country, One Market, One Tax nation...

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India and Saudi Arabia sign MoU to scale up energy efficiency programmes

As of May 25, 2017, Ministry of Power has electrified 13,523 villages and will continue to do the same in the states like Uttar Pradesh, Nagaland, Jharkhand, Bihar and few more. To increase the outcome even more in India as well as for India’s allies, Energy Efficiency Services Limited (EESL), under the administration of Ministry of Power, has signed a Memorandum of Understanding (MoU) with National Energy Services Company, Kingdom of Saudi Arabia to implement energy efficiency programmes and scale-up ..

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Puducherry-Chennai cargo ship to commence from August

With an aim to start freight transport from Puducherry, a new cargo ship will facilitate easy and speedy transportation between Puducherry and Chennai from August this year. The memorandum of understanding was signed in March between Puducherry and the port of Chennai Ennore for the new cargo ferry. Puducherry Port Minister K. Kanthasamy visited the development department at the port of Pondicherry to handle the cargo from then Chennai harbor on Tuesday...

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Over 2000 criminal cases filed against waqf properties in 3 years

The Minister of State for Minority Affairs Mukhtar Abbas Naqvi today said that during the last three years, more than two thousand criminal cases have been filed in connection with encroachment on waqf properties by waqf mafias and strict action has been taken against several people sitting at top posts in waqf boards...

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Along with recognizing necessity of GST, Bengal CM aggressively criticizes early implementation of GST

While India is being ready for the roll out of GST, Bengal Chief Minister continues her opposition against early implementation of GST. It was very evident that Didi was hostile to GST from beginning. Before the 4rth June meeting of GST Council, she said that said that TMC lead Bengal Government does not support current tax structure of GST. Now she terms the implementation of GST as “unnecessary disastrous hurry”...

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After several years of loss, Cabinet clears Air India disinvestment

Air India is going through tough struggle and faced a huge amount of loss in recent times. Yesterday, a cabinet meeting was held to discuss on the issue of disinvestment of Air India. Air India has reported at least 7 years of losses. Hence cabinet gave in principle’ approval for disinvestment of Air India and five of its subsidiaries. Finance Minister Arun Jaitley announced it after the cabinet meeting...

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Railways new system will ensure faster completion of states’ Rail Projects

To ensure faster execution in the Railway Projects and to strengthen coordination with State Government for faster execution, Ministry of Railways is working on a system of Nodal/Coordinating Officers of both Railways and the respective State Governments...

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Infrastructural boost in U.P: Government approves six laning of Chakeri-Allahabad section of NH-2

With an agenda to have whopping infrastructural development in Uttar Pradesh, the government of India has approved six laning of Chakeri-Allahabad section of National Highway (NH) – 2 to reduce the time and cost of travel for traffic, particularly heavy traffic, plying between Chakeri and Allahabad. The development of this stretch will also help the socio-economic condition of this region in the State...

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Union Cabinet clears much awaited disinvestment process of Air India

In order to fine tune the working of loss-making national carrier, Modi Cabinet today approved the much awaited decision of divestment process of Air India. Informing about this development Finance Minister Arun Jaitley said, “In-principle approval for Air India divestment has been given”. He further mentioned that a group under the chairmanship of the Finance Minister will decided the future action plan of divestment process, proposed by Civil Aviation Ministry...

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Railways to install solar panels on train’s rooftop

Concerning about the environment protection, Indian Railways to adopt solar power in a great manner. Installation of solar power not only will save the environment but also reduces Railways fuel cost. The world’s fourth-largest railway network is planning to install solar panels on top of coaches apart from planning large-scale solar power projects and rooftop solar power systems...

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Centre launches Digital MSME Scheme; exchanges MoUs with SAP India, Intel and HMT

The Union Minister for Micro, Small and Medium Enterprises (MSME) Kalraj Mishra also launched ‘Digital MSME Scheme’ and handed over three Memorandums of Understandings to SAP India, Intel and HMT respectively. These steps would further boost Ministry’s effort towards making the Digital India Mission successful...

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Indian Railways soon to install ISRO’s satellite based chip to avoid unmanned railway crossings

Lots of people die in railway accidents due to careless crossing over the tracks or some purpose. To combat this, Indian Space Research Organisation's (ISRO) satellite based chip system may soon help in curtailing the number of accidents at unmanned railway crossings in across the country. ..

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Brazil Prez Michel Temer charged with corruption, high chances of economic crisis to spread

In a shocking news, Brazil’s President Michel Temer has been charged with bribery. The top federal prosecuter has alleged that Temer asked him a bribery of multi-million dollars. Meanwhile, Temer’s office and lawyer, Antonio Mariz declined all charges and have not given any statement. Speaking at the plea-bargain testimony, executives said the President took bribes resolving tax matters, freeing up loans from state-run banks and many other issues. ..

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Now ‘Central Vigilance Commission’ to probe corruption cases of private banks

The Reserve Bank of India (RBI) has taken a big step to tighten the corruption in the private banks. RBI has approves the Central Vigilance Commission (CVC) to probe allegations of corruption in private sector banks and against their employees...

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Arun Jaitley urges CM Mehbooba Mufti to implement GST in J&K from July 1

The Goods and Services Tax which is scheduled to be launched on July 1 and is set to revolutionize the way we do our taxes. GST will be the only tax that the common man will have to pay. There’ll be no VAT, Service tax or any sort of extra charges. In a bid to implement GST tax everywhere in India, Finance Minister Arun Jaitley has written a letter to the Chief Minister of Jammu and Kashmir, Mehbooba Mufti Sayeed urging for introduction of the goods and services tax in Jammu and Kashmir from 1st July, ..

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Textile traders in Calcutta show hostility against GST with a 3-day strike

With the aim “one tax, one nation”, Goods and Service Tax will roll out in India from 1st July. Bengal has been opposing GST for a long time. After the hostility from Bengal government, now traders from the state are opposing GST before the roll out. In the Bengal capital, Kolkata, a three-day strike by textile traders has been called...

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GOOD NEWS! 1 lakh new job opportunities in India

Employment is expected to gather a huge impetus with more than 1 lakh immediate new job opportunities being created, thanks to the new GST regime. The jobs would come in specialised areas like taxation, accounting and data analysis...

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Rajasthan saves whopping 873 lakh units of electricity under Ujala scheme

Rajasthan has saved a whopping 873 lakh units (kwh) energy in just two-and-a-half years of the LED project’s implementation in the state. Notably, Narendra Modi-led government urged all the states and union territories to adopt the LED bulbs under the Ujala scheme with an aim to save electricity for future generation...

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Ahmedabad embraces infrastructural projects launched by Venkaiah Naidu

As Urban Development Minister Venkaiah Naidu visits Ahmedabad today, he gives out a whole list of smart innovative projects to the people living there. He distributed allotment letters to all the beneficiaries of affordable housing built by private developers. Along with that, he also presented the 100 volumes of The Collected Works of Mahatma Gandhi, CWMG published by the Publications Division to Sabarmati Ashram...

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Piyush Goyal introduces weather portal to strengthen distribution of electricity

The Government of India on Friday launched the weather portal for the power sector in association with POSOCO and IMD at the meeting of the Forum of Regulators in New Delhi. The information available in the Portal regarding weather forecast will help State Discoms to take pro-active steps regarding short term and medium term management processes and supply planning requirements and also for better planning for infrastructure availability to ensure cost effective and reliable supply...

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First 'Assembled in India' iPhone SE Model to go on sale

Apple’s first batch of iPhone SE, Assembled in India have been launched in select stores across Bengaluru, starting at a price of Rs 27,200 (32GB) and Rs 37,200 (128GB). The boxes that come with ‘Designed by Apple in California, Assembled in India,’ printed on them will roll-out once clarity regarding GST emerges after 1st July. In Bengaluru, the iPhone SE units are being manufactured by Apple’s partner Wistron Corp...

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Don’t get Panic, fresh registrations to start from June 25 : GSTN Chief Navin Kumar

In order to fine tune the ecosystem for the historic GST tax regime, the Goods and Services Tax Network (GSTN) portal will start accepting fresh registrations from June 25. Currently the online portal has been accepting requests for migration from the current indirect tax regime to the GST system...

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CBI registers FIR to probe ‘Sachal Palna Griha Yojana’ scam of Akhilesh govt

The CBI has registered an FIR to probe the alleged misappropriation of funds in the 1,100 crore rupee Sachal Palna Griha Yojana of the previous Akhilesh Yadav government in Uttar Pradesh. Officials of the UP social welfare, building and constructions department allegedly connived with several NGOs to divert funds meant for crèches for children of women labourers...

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Unelectrified Villages of Arunachal will be illuminated by December

Arunachal Pradesh is the state having a maximum number of villages un-electrified as compared to any other state in the country. The number of un-electrified Villages in Arunachal Pradesh was 1578 so far and the state is taking the initiative to electrify such villages by end of this year...

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Textile Ministry continues its effort to help stakeholders effectively implement GST in the sector

With the aim of “one nation, one tax”, Good and Service Tax is rolling out in India from 1st July. Since it is a new taxation system, industries may face difficulty follow it properly. To overcome this problem in Textile Industry, Textile Ministry organized training Workshop to inform officials, EPCs & PSUs on benefits of GST for Textiles sector.Yesterday, it organized a full-day training workshop on GST in Vigyan Bhawan, New Delhi. 175 officials of the Ministry, its PSUs and members of Export Promotion ..

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Bengal CM Mamata Banerjee encourages European Industrialists to invest in the state

Bengal Chief Minister Mamata Banerjee is on a visit to Netherland to address Public Service Day of United Nations. Along with the address, she has attended several meetings. To overcome the challenge in Bengal Industry, she has called on European Industrialists to invest in Bengal. In the Industrialists meet, she has assured that talent can be easily found in Bengal. ..

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RBI: District Cooperative banks should deposit old notes by July 20

As demonetized currencies are still lingering in the pockets, Reserve Bank of India in a notification has issued all the district central cooperative banks to surrender the stock of old scrapped notes of Rs 500 and Rs 1000 by 20th July...

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Uber Co-founder Travis Kalanick steps down from the chief executive post

Uber, the big name in Industry has been going through series of disastrous events. After the turmoil in the company regarding different scandals, the co-founder Travis Kalanick has stepped aside from his position as chief executive. 5 0f Uber’s largest investors were pressurizing him to resign. The investors demanded they would like a change in leadershi..

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Government notifies around 18 sections in GST Act; CBEC also notifies 2 rules

As the days come nearby for the GST rollout, government notifies sections in the GST Act dealing with mandatory registration of current indirect tax payers in the new regime. As many as 18 sections relating to registration of current central excise, service tax and VAT payers with the GST-Network (GSTN) as well as transitional provisions were notified. As a precursor to GST, the Central Board of Excise and Customs has also notified two rules- registration and composition levy. ..

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Grand event to be held before roll-out of biggest tax reform ‘GST’

Union Finance Minister, Arun Jaitley announced that the government will organize a 1-hour function late on June 30 to officially launch GST. The event in Central Hall of Parliament will be attended by President Pranab Mukherjee, PM Narendra Modi and former prime ministers Manmohan Singh and HD Deve Gowda among other dignitaries...

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With ratifying UN Convention on Road Transport, India gets direct access to South Asian countries

With an aim to boost the international trade, India on Monday ratified the United Nations International Convention on Road Transports, TIR. Notably, TIR will help India to integrate with Myanmar and Thailand as well as Bangladesh, Bhutan and Nepal...

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Do you know! Importance of first air corridor between India-Afghanistan

Afghan President Ashraf Ghani Yesterday inaugurated the first Afghanistan-India air corridor at the Kabul International Airport. The corridor is a direct route that will bypass Pakistan and is meant to improve commerce in Afghanistan...

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Tata Advanced Systems inks historic pact with Lockheed Martin for indigenous    production of F-16 fighter planes

In order to boost the flagship programme of Make in India, international giant Lockheed Martin Aeronautics and Tata Advanced Systems has signed an agreement for the production of F-16 Block 70 in India. This pact will support the India’s initiative to develop private aerospace and defence manufacturing capacity...

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Baby born on Jet Airways gets free lifetime-pass

Jet Airways has announced free lifetime-pass for a baby born on board its flight from Saudi Arabia's Dammam to Mumbai. In a press release, the airline said, "A guest delivered a baby boy at 35,000 feet. Pleased to offer newly-born a free lifetime pass for all his travel on Jet."..

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GST Council gives easing of 2 months for filing tax returns

After the 17th Goods and Services Tax (GST) council meet, GST council announces return filing breather to traders for two months. As per the revised return filing timeline decided by the Council, for July, the sale returns will have to be filed by September 5 instead of August 10. Companies will have to file sale invoice for August with the GST Network by September 20 instead of September 10 earlier...

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Army Colonel who took Rs 50,000 bribe arrested!

The CBI on Sunday arrested Colonel Shaibal Kumar for allegedly taking a bribe of 50,000 rupees from a Pune-based private firm. The investigation agency also nabbed 3 other officials of Xtech Equipment Pvt Ltd...

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South Korea to shut down oldest nuclear power plant permanently

Korea permanently shuts down its oldest commercial nuclear reactor on Monday as part of a broader policy move to end the country's reliance on atomic power. The move denote the first occasion when that Asia's fourth-biggest economy stopped power production from one of its nuclear power generation facilities...

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'Make India $1 trillion digital economy in 4 years’

Talking to technology leaders, Union minister for electronics and information technology Ravi Shankar Prasad urged them to make India a $1 trillion digital economy within a span of 4 years. Adding that it is not a 'tall claim', he highlighted the opportunities in IT, e-commerce and digital sectors...

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India’s spice export breaks all records; earns Rs 17,664 Cr with growth of 12%

The export of spices and spice products achieved a growth of 12 per cent during 2016-17. Sustaining their robust demand in international markets in face of stiff competition, 9.48 lakhs tons of spices were exported earning over 17 thousand crore rupee...

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Aadhar must for opening bank account, transactions of over 50,000

The Union Government has made Aadhar or biometric identity number compulsory for opening bank account and conducting transctions of Rs 50,000 and above...

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Waqf Board will soon be dissolved in UP; CM Yogi recommends CBI probe

Uttar Pradesh Chief Minister Yogi Adityanath has initiated to dissolve both Shia and Sunni Waqf boards and recommends CBI probe into alleged scam. Nominated members of both the boards have been removed and notices have been issued to the Chairmen of the boards...

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Petrol, diesel prices cut by Rs. 1.12 and Rs 1.24 per litre

Petrol and diesel prices were cut by RS 1.12 and Rs 1.24 per litre respectively form midnight tonight. ..

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India moves six places higher in Global Innovation Index

Innovation is the key to development. The innovative approach of a country and its economic growth is equally proportionate. After a successive drop of 5 years in global innovation ranking, India improved its innovation rank to reach the 66th position from 81st. in 2015. This year, India has moved up six places to 60th among 130 nations on the Global Innovation Index (GII) 2017...

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Uttarakhand CM Rawat asks CBI to probe Highway Scam

Bharatiya Janata Party is getting into an internal turmoil after Uttarakhand Chief Minister Trivendra Singh Rawat convinces CBI to probe alleged multi-crore highway scam between the state and Centre. A preliminary report submitted on the alleged scam by former Kumaon commissioner D. Senthil Pandiyan had spotted 18 instances when inflated compensation was supposedly paid for the acquisition of land for the widening of NH-74 in Udham Singh Nagar district. The irregularities amount to Rs 240cr. ..

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ED files chargesheet against Mallya who has taken Rs 423cr out of India

After the Westminster Magistrate Court in Britain gave relief to Vijay Mallya until December; Enforcement Directorate on Wednesday submitted a chargesheet in a Mumbai special court against the liquor baron and six others in a 900cr money laundering case. The complaint accused the airline and Mallya of having routed overseas over 417cr of 900cr it secured as a loan from IDBI Bank Ltd for aircraft rental leasing and operational expenses...

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India, S. Korea join hands to invest $10 billion in infrastructural assistance

India and South Korea both on Wednesday signed an agreement for $10 billion in infrastructure assistance for development projects in India, including smart cities. The agreement was signed by Finance Minister Arun Jaitley on his 4-day official visit to Republic of Korea (ROK)...

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Hyundai Motor fined by Rs 87 Cr for anti-competitive conduct

The Competition Commission of India (CCI) issues order against Hyundai Motor India Limited (HMIL) for anti-competitive conduct imposes penalty of Rs. 87 crore for the anti-competitive conduct on Wednesday...

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Proposal of Financial Resolution and Deposit Insurance Bill to manage financial crisis approved

A planned economy always keeps growing. Bankruptcy situation can strike financial sector badly if not accepted. To deal with such situation in banks, insurance companies, and financial sector entities, Cabinet has approved the proposal to introduce a Financial Resolution and Deposit Insurance Bill, 2017. The Government has recently enacted the Insolvency and Bankruptcy Code, 2016 ("Code") for the insolvency resolution of non- financial entities...

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