Economy

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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Tourism Ministry aims to increase GDP by 18% in next five years

Home Minister Rajnath Singh has said that tourism sector has a tremendous potential and can contribute a lot in making India a super economic power. He said, the Tourism Ministry is aiming to take its contribution to the GDP to 18 per cent in the next five years from the present 9 percent...

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In September, WPI inflation diminished to 2.6 percent

As prices of food article including vegetables, eased, the Wholesale Price Index (WPI) fell to 2.60 percent in September as compared to 3.24 percent in August 2017 which was four-month high. The WPI in September 2016 was 1.36 percent. Keeping 2011-12=100 as a base, the Wholesale Price Index for All Commodities for the month of September 2017 declined by 0.4 percent to 114.3 from 114.8 for the previous month...

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ONGC plans to raise crude oil production, natural gas output by 2020

To raise crude oil production by four metric tonnes (MT) and also the natural gas output to be doubled by 2020, Oil and Natural Gas Corporation (ONGC) has drafted a plan. ONGC ranked 12th among Oil & Gas companies based on Research and Development expenditure which has generated a record 4170 million units during Financial Year 2017...

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Chandrababu Naidu pitches for strong India-US cooperation to boost agriculture sector

Chandrababu Naidu pitches for strong India-US cooperation to boost agriculture sector..

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Madras HC appoints nine-member committee to settle dues of investors in Disc Assets case

A nine-member committee has been appointed by the Madras High Court to settle an amount of more than Rs.761 crore dues of about nine lakh investors. Over 10 years ago these depositors have deposited money with Tamil Nadu-based Disc Assets Lead India Limited for the purchase of plots...

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Our target is to cover more than 50000 households, 255 Houses are covered by PNG Supply: Dharmendra Pradhan

The first phase of Piped Natural Gas supply system in Bhubaneswar was inaugurated by the Petroleum Minister Dharmendra Pradhan on Friday. Eco-friendly PNG will be supplied to 255 houses in Nalco Nagar in Chandrasekharpur of Bhubaneswar...

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Under DAY-NRLM, banks to provide funds at 7 percent to women SHGs: RBI

Under the Deendayal Antyodaya Yojana - National Rural Livelihoods Mission (DAY-NRLM), the RBI on Wednesday provide funds to women Self Help Groups, SHGs, in rural areas at 7 percent in the current financial year for 250 districts...

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Telecom Ministry announces revised call rates for armed forces

On the auspicious occasion of Diwali, Union Telecom Minister Manoj Sinha announced that Central government has decided to reduce the tariff for security personnel...

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Read here the glimpses of Dharmendra Pradhan’s Japan visit

Giving a major boost to Japan-India bilateral relation in the field of skill development, Skill Development Minister Dharmendra Pradhan has signed a Memondarum of co-operation on Technical Intern Training Programme (TITP). He attended 6th LNG Producer-Consumer Conference in Tokyo where his counterparts from countries like Qatar, Mozambique, Malaysia, Japan were also present...

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SBI study reveals drop in rural inflation due to Jan Dhan Yojana

when Prime Minister Narendra Modi unveiled the mega financial inclusion drive called Jan DhanYojana, the financial policy mavens were divided on the pet project of Modi, even questioned the relevance of the ordinary activity... but here is some good news for government and policymakers. In a recent survey conducted by the research wing of the State Bank of India reveals that with the easy access of banking system villagers have managed to contain their expenses resulting in a significant drop in inflation...

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Odisha set to fast track the implementation of large investment projects

Review meeting was held by the Project Monitoring Group of Prime Minister’s Office under the chairmanship of Odisha Chief Secretary Aditya Prasad Padhi which directed to fast track the implementation of large investment projects. Chief Secretary Aditya Prasad Padhi directed the concerned department and project proponents to keep up constant monitoring at the execution level for completion of the projects within scheduled limits...

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NIIF and a subsidiary of ADIA signed First Investment Agreement

The first investment agreement of 1 billion USD between National Investment and Infrastructure Fund (NIIF) Master Fund and a subsidiary of Abu Dhabi Investment Authority (ADIA) has been signed on Monday. ADIA will become the first institutional investor in NIIF’s Master Fund and a shareholder in the NIIF’s investment management Company...

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Wholesale Inflation dips to 2.6 % in September; Vegetables, food got cheaper

Wholesale inflation fell to 2.60 per cent in September as prices of food articles, led by vegetables, softened. Inflation, based on the wholesale price index, WPI, had soared to a four-month high of 3.24 per cent in August 2017...

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Digital India's potential to raise GDP by 20-30%: Alphons Kannanthanam

Union Minister for Tourism, Alphons Kannanthanam stated that Digital India has the potential to add 30% to India's GDP by 2025. Inaugurating ASSOCHAM's 13th National Summit, the minister said that several flagship projects under the program are now in execution phase...

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Read the main objectives of Dharmendra Pradhan’s upcoming Japan visit

For strengthening bilateral relation with Japan in the Oil and Gas sectors Dharmendra Pradhan will fly to Tokyo for a three-day visit. The visit aims to enhance cooperation in establishing a transparent, efficient, truly global and balanced LNG market. He will also attend LNG Producers Consumer Conference...

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PM Modi views proper connectivity as an important factor for greater development

Since 2014, when Prime minister Narendra Modi took the charge has been launching various projects for the development of East India. Walking along the same line, PM laid the foundation stone for a number of infrastructural projects including Namami Gange and National Highways projects at Mokama. The newly launched four national highways projects are worth Rs 3,031 crore...

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India's exports rise by 25.67% in September to USD 28.61 billion

India’s export soared by 25.67 percent to USD 28.61 billion in September on the back of rise in shipments of chemicals, petroleum and engineering products, official data released today showed. In Rupee terms, during September 2017 exports were valued at Rs. 184387.36 crore as compared to Rs. 151950.74 crore during September,2016, registering a positive growth of 21.35 per cent...

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Coal India employees to get higher one time advance before Diwali

Coal India employees get another happy news within one week of wage hike as Coal minister Piyush Goyal announced higher one-time advance. He announced the advance payment would be Rs. 51,000 instead of Rs. 40,000. They will get it before Diwali...

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India will be the fastest growing economy in 2018: IMF

India will be the fastest growing economy in 2018 despite a fugacious drop in 2017 said the International Monetary Fund (IMF). India’s growth rate for the current fiscal year is 6.7 percent as compared to China’s 6.8 percent...

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Economy of India is poised for strong, sustainable and balanced growth with positive structural reforms: Arun Jaitley

The economy of India is poised for strong, sustainable and balanced growth backed by the Government strong focus on implementing structural reforms. This was said by Finance Minister Arun Jaitley on Friday in an interactive seminar organized by FICCI on “India Opportunity” in Washington, US...

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Industrial output at 9-Month High, retail inflation stood at 3.28% in September

The country's industrial production grew at a nine-month high of 4.3 per cent in August this year. This was mainly due to a robust performance of the mining and power sectors. Factory output measured in terms of the Index of Industrial Production (IIP) had grown 4 per cent in August last year. ..

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GST will be very good for Indian growth: World Bank Chief Jim Yong Kim

The results of the reforms undertaken by the Prime Minister Narendra Modi will have a significant result and it will be reflected in the mid and long-term growth figures said the World Bank chief, Jim Yong Kim...

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While Maharashtra leads, Odisha bags 3rd rank as best state in attracting investments

Maharashtra bagged top position in total live investments attracted by different public and private sources across India as of FY17 stated the ASSOCHAM report. While Gujarat is in the second position followed by Odisha on the third slot; Gujarat at 8.5% and Odisha at 7%, Maharashtra led the pack to top as the best state to attract the investments, says a study by Associated Chambers of Commerce of India (ASSOCHAM)...

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Prabhu kicks off ‘Make in India: Sweden 2017’ to enhance Indo-Swedish trade relations

To enhance Indo-Swedish cooperation and explore new areas of partnership, the industry ministry is organising 'Make in India: Sweden 2017' from October 12-13. The Indian delegation led by the Commerce Minister Suresh Prabhu held a bilateral meeting with the Prime Minister of Sweden, Stefan Löfven. The meeting reiterated the dedication to further strengthening of the Indo-Swedish economic relationship and exploring new avenues of collaboration...

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Airtel launches Rs 1,399 4G smartphone to counter Reliance Jio

In a massive down play to Reliance Jio, Bharti Airtel has launched a 4G smartphone called Karbonn A40 Indian for just Rs 1,399. The device runs on Android Nougat and has a dual-SIM slot. Raj Pudipeddi, Director - Consumer Business & CMO, Bharti Airtel said, "As the market leader and pioneer of 4G services in India, Airtel's aspiration is to digitally empower every Indian with high-speed data access. We are delighted to partner with Karbonn to remove barriers to smartphone adoption and enable millions ..

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PM Modi’s economy team identifies ten priorities to pump up economic recession

The newly set up Economic Advisory Council to the Prime Minister today identified ten major priorities for accelerating economic growth and employment generation over the next six months. The council held its first meeting in National capital on Wednesday...

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Good News: Direct tax collection surges by 16% to 3.86 lakh crore rupees

The Direct Tax Collections in the first half of the current fiscal shows growth of 15.8 percent. Net Direct Tax collections represent 39.4 percent of the total budget estimates of Direct Taxes for Financial year 2017-18 (Rs. 9.8 lakh crore)...

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Major boost in economy of Indian ports; registers annual growth rate of 3.24%

Economy in India has flourished since three years due to good governance. Therefore, major ports of the country have recorded a comprehensive growth of 3.24% and together handled 326.4 Million Tonnes of cargo during the period April to September 2017. Cochin Port has registered the highest growth...

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Vigilance probe ordered against Oommen Chandy in 2013 solar scam by Kerala Govt

In the 2013 Kerala Solar Scam, Former Chief Minister of Kerala Oommen Chandy has been found guilty by the Justice G Sivarajan commission. He is directly found involved in the solar scam. The vigilance department will proceed the investigation of the case...

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Anti-dumping duty imposed on steel wire rods from China for five years

An Anti-dumping duty has been imposed by the government on the imports of steel wire rods from China for five years. The duty was imposed by the Commerce Ministry’s directorate general of anti-dumping and allied duties (DGAD) to guard the interest of the domestic industry from the cheap inbound shipments...

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This Diwali season brings good news of 20% wage hike for Coal India staffs

Diwali season brings good news for Coal India workers as Coal India has signed a five-year wage agreement with its workers' unions. Since last July the agreement was due to the difference in opinion among Coal India and trade union. Finally, an agreement was reached to give 20% wage hike...

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India can take big decisions and implement at large level: FM Arun Jaitley

The Goods and Services Tax (GST) has been adopted at a fast pace by the state governments said the Finance Minister Arun Jaitley. Earlier this month the GST council has slashed the GST rates of 27 items and also the IGST imports rates were also reduced...

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India remains one of the fastest growing Energy Markets: Dharmendra Pradhan

India will remain one of the fastest growing energy markets in the World in the coming two decades said the Petroleum Minister Dharmendra Pradhan in the India Energy Forum while addressing the CERAWeek in New Delhi on Monday. Access to increase in accounts and better lifestyle, the per capita energy consumption will grow...

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Review base price calculations for lowering fuel rates: Nitish Kumar

Hailing the decision of the central government for reducing the excise duty on petrol and diesel, Bihar Chief Minister Nitish Kumar has urged Modi government to recalculate the base price mechanism in order to reduce the fuel price...

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Financial Literacy drive to be launched in nine states by RBI

o educate people on e-transactions, formal sectors borrowings and insurance purchases, the Reserve Bank of India (RBI) is launching a pilot study on financial literacy drive in 80 blocks of nine sates...

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AAI formally engaged in crude oil and LPG marketing with India

ARAMCO Asia India (AAI), a subsidiary of Saudi Aramco has formally established its crude and LPG marketing in India as the Petroleum Minister Dharmendra Pradhan inaugurated the Saudi Aramco India Office in Gurugram jointly with Amin H Al-Nasser, President, and CEO of Saudi Aramco. The office is located at Two Horizon Tower, Gurugram...

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IT department attaches property of Rabari Devi in benami deal case

The income tax department has attached three properties of Former Bihar Chief Minister Rabari Devi and her daughter Hema Yadav in Patna for Tax evasion case and benami property deal. The IT department in Bihar has attached three plots located in Danapur and Phulwarisharif locality of Patna district...

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Massive #GSTrelief for small traders and common man; 27 items get cheaper, e-wallets for traders, eases tax refund

Union Finance Minister Arun Jaitley in his presser after the 22nd GST Council meeting, in National Capital has announced GST relief for common man, small traders and exporters. Government has reduced GST on a total of 27 commodities. All exporters would be provided e-wallets by April 2018 and tax refunds to exporters would be issued through cheques from Tuesday...

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GST rates slashed, here is list of items with reduced GST rates

The big relief for the common people came when the Goods and Services Tax (GST) rates have been reduced on Friday in the 22nd GST Council Meeting chaired by the Finance Minister Arun Jaitley. The discussion held on 6th October recommended the changes in the IGST rates on imports of itemized goods. The council has reduced the rate of Ayurvedic products from 12% to 5%. While the E-waste has been slashed to 5% from 18%-28%...

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India's economic slowdown was an aberration; World Bank lauds PM Modi's efforts

The World Bank said that India's economic slowdown was an aberration, as it assured that GDP growth will stabilise during the year. Saying that GST will have 'hugely positive impact on the economy', World Bank President Jim Yong Kim added that the deceleration was due to temporary disruptions in preparation for the GST...

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Prez thanked Ethiopia for crafting a contemporary, modern partnership

Addressing the India-Ethiopia Business community on Thursday and celebrating India Business Forum’s 12th Anniversary in Addis Ababa President of India, Ram Nath Kovind said that he touched by the love and affection for India in Ethiopia. Visiting on the second leg to Africa, Kovind received a warm welcome from President of Ethiopia, Dr. Mulatu Teshome and later in the evening, he met Ethiopia’s Prime Minister Hailemariam Desalegn. ..

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Andaman Nicobar Islands to get Four National Highways, foundation stone laid

The foundation stone of four National Highways projects worth Rs 1121 crore in Andaman and Nicobar Islands was laid by Home Minister Rajnath Singh along with Transport Minister Nitin Gadkari on Thursday. Several shipping projects worth Rs.200 crore will be developed in coming days. The Ministers are on a two-day visit Andaman and Nicobar Islands...

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Lalu Yadav presented before court for IRCTC hotel scam; Tejaswi to appear on Friday

Rashtriya Janta Dal leader Lalu Prasad Yadav presented before the CBI court on Thursday for questioning in case of IRCTC hotel tenders allotted to private firms in Ranchi and Puri. Court had asked Lalu and his Son Tejasvi Yadav to be present on fifth and sixth October respectively...

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No need to carry Cash! Transfer money from one mobile wallet to another soon

Users will be able to transfer funds from one mobile wallet to another as Reserve Bank is allowing inter-operability among prepaid payment instruments (PPI) very soon. PPIs which include the likes of e-wallets, gift cards and meal coupons are used as substitutes for cash. RBI has said in the 'Statement on Developmental and Regulatory Policies' that KYC compliant PPIs can inter-operate within six months of the revised directions. RBI will issue revised master directions on 11th of October...

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PM reiterates to reverse down slide in nation’s economy

Accepting that the growth rate has slumped down to some extent in April-June quarter, Prime Minister Narendra Modi reiterated his government’s resolve to reverse the slide...

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Dharmendra Pradhan requests states to review 5% VAT on fuel

A day after the announcement of a reduction in oil tariffs by the central government, Petroleum Minister Dharmendra Pradhan has asked state governments to review the rates of VAT on fuel...

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RBI holds policy rate steady at 6.00%, forecasted lower growth in FY18

Eyeing rising retail inflation, the Reserve Bank of India (RBI) kept its key policy rate unchanged at 6.00% in its fourth 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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India-Bangladesh inks pact $4.5 billion credit deal to boost bilateral investment

India and Bangladesh today signed the massive third line of credit agreement involving 4.5 billion dollar for infrastructure and social sector development. The line of credit was signed in the presence of Union Finance Minister Arun Jaitley, who is on a 3-day visit to Bangladesh, and his counterpart AMA Muhith. The line of credit agreement was announced during Prime Minister Sheikh Hasina's recent New Delhi visit...

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Now track National Highways projects with mobile app

To rate national highways on Tuesday the National Highways Authority of India Chairman, Deepak Kumar launched a new multilingual website of the organization. He also launched a Project Monitoring Information System (PMIS) Moblie App which will monitor NHAI projects...

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Good news! Government reduces tax on diesel and petrol to tackle inflation

In a massive relief, Central government has cut down the excise duty on diesel as well as petrol by 11.5% and 9.4% respectively, which sums up to Rs 2 per litre each. In a statement, the Finance Ministry said the revenue loss on account of these reductions will be about 26 thousand crore rupees in a full year and about 13 thousand crore rupees during the remaining part of the current financial year...

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First US crude oil cargo bought by Indian Oil arrives in Paradip

Indian Oil Corporation bought 1.6 million barrels from the United States which reached Paradip port on Monday. This is the first US crude oil cargo bought by Indian Oil. The Crude oil will be processed by Indian oil on its East-Coast based refineries, located at Paradip, Haldia, Barauni, and Bongaigaon...

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Reliance Communications calls off Aircel merger due to regulatory uncertainty

Anil Ambani-owned Reliance Communications called off a merger with Aircel. Reliance Communications will now evaluate another plan for its mobile business by focusing on the 4G LTE market...

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RSS chief advocates inclusive approach to economic issues

In his annual Vijayadashami address to the nation, RSS Sarsanghchalak Dr Mohan Bhagwat advocated for all inclusive approach to economic issues confronting the nation today...

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Current account deficit lowest in five years: Petroleum Minister Dharmendra Pradhan

Petroleum Minister Dharmendra Pradhan has released the numbers on GDP shows that the current account deficit in last five years has come down to 0.7 percent in 2016-17 from 4.8 percent in 2012-13 on Friday...

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Automobile giants prefer Gujarat for production of electric, hybrid vehicles

Electric and hybrid vehicles are the only way to save the non-renewable resources like petrol and diesel and also to stop the pollution in India. Therefore, Gujarat, which is known as automobile manufacturing hub is now emerging as the most preferred destination for the production of electric and hybrid vehicles...

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India’s first 8-seater electric van ‘eSupro’ ran on Shimla roads

Mahindra & Mahindra launched India’s first all-electric cargo and passenger van “Ride with Pride” Electric Supro (eSupro) on Thursday. The flag off was done by Gurmukhi Singh Bali, Transport Minister of Himachal Pradesh government...

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EC disqualifies Jharkhand Ex-CM Madhu Koda from contesting polls

The Election Commission of India (EC) on Wednesday disqualified Jharkhand’s former Chief Minister Madhu Koda for not submitting actual election expenditure records which were used in 2009 Assembly polls. He is not liable to contest any election for next three years...

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Raids on ‘Cafe Coffee Day’ discloses Rs 650 Cr illegal income: I-T Dept

The Income tax department department's raids on Cafe Coffee Day (CCD) retail chain has found concealed income of over Rs 650 crores from the documents seized. The officials claim that the undisclosed income of CCD owner VG Siddhartha is estimated to be much higher. "There are a number of other issues, including violations of other statutes on which there is no disclosure but relevant evidence has been found," an official said...

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India is aggressively pursuing implementation of paperless trading: Suresh Prabhu at ASEM

As India is pursuing ‘Act East Policy’ the relationship with South Korea has great significance, Commerce Ministers Suresh Prabhu said. He is attending The 7th ASEM Economic Ministers’ Meeting is the South Korean capital Seoul. He sought support for an early harvest from bilateral trade negotiations from the Leader of Democratic Party, Choo Mi...

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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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