Economy News

KG-D6 gas output down to a drip, says Reliance

Company says trying to maintain liquid flow, sustain production until future projects are commissioned.

Jun 29, 2017

7th Pay Commission: 7 key things to know about the Rs 31,000 crore bonanza that will benefit 48 lakh employees

The hike in allowances, including HRA, for the 48 lakh employees -- 34 lakh employees and 14 lakh pensioners -- will be effective from July 1, 2017.

Jun 29, 2017

Stage set for GST rollout, says Finance Minister Jaitley

'GST date was decided on consensus by the GST Council, which comprises the Centre and the states'.

Jun 29, 2017

PM Modi looks favourite to score 2 key political points at midnight GST launch

While the ruling party's invitation to Manmohan Singh will leave very little scope for Opposition to act out of sync, the launch of the mega financial reform at midnight will also take PM Modi closer to Jawaharlal Nehru, who had inaugurated India's biggest political reform in 1947.

Jun 29, 2017

7th Pay Commission: Cabinet approves hike in HRA, other allowances for Central govt employees, pensioners; read list of all allowances here

The Union Cabinet retained 108 allowances, deferred decision on 12 and merged 34 with other benefits for Central government employees, almost 20 months after the 7th Central Pay Commission submitted its report. You can read the list of all allowances here.

Jun 28, 2017

GST: Congress to boycott special Parliament session

Apart from objecting to PM Narendra Modi launching the GST, the Congress has to weigh other aspects before deciding whether to attend the June 30 event.

Jun 28, 2017

GST makes India a unified market like EU

Amalgamating several state and central taxes into a single tax would mitigate cascading or double taxation and lead to easier administration and enforcement.

Jun 28, 2017

Commerce Minister Nirmala Sitharaman wants MPs to set up co-working spaces for start-ups

She said it will give a fillip to the start-up ecosystem in the country and enable MPs to create jobs in their constituencies.

Jun 28, 2017

You can file income tax returns even without Aadhaar

Section 139AA of the Income Tax Act that makes linking Aadhaar and PAN mandatory from July 1 does not apply to those who do not have the 12-digit biometric.

Jun 28, 2017

Aadhaar-PAN link compulsory for taxpayers from July 1

The Central government issued a notification on Wednesday after the Supreme Court refused to pass interim judgment on whether linking PAN and Aadhaar should be optional.

Jun 28, 2017

More & more Indians are preferring plane over train: Only nostalgia won't help railways survive the challenge

As India turns busier, the overburdened and slow railways in the country are lagging further and further behind air travelling. There is no easy route out for the railways that have only made to suffer all these decades.

Jun 28, 2017

These 10 goods are exempted under the GST regime [VIDEO]

The Goods and Services Tax (GST) Council has fixed the tax framework, which will be rolled out on July 1. Goods of common use and consumed largely by the masses will be spared in the final list. There are certain goods that are kept under nil or zero percent GST rate to benefit the masses.

Jun 27, 2017

Embarrasing timing: PM Modi's '7,000 reforms in 3 years' claim came a day after Economist downvoted him as reformer

PM Narendra Modi said during his meeting with businessmen in US that his govt has done 7,000 reforms in last three years. Just a day earlier, the revered Economist termed him a fine administrator but not so a reformer.

Jun 27, 2017

Budget likely in November as Centre mulling over change in financial year

The budget will have to be held at the beginning of November so that the budgetary exercise, which takes about two months, can be completed by the end of the year.

Jun 27, 2017

Ahead of GST rollout, govt postpones implementation of TDS, TCS

The decision was taken upon trade and industry feedback on Tax Deduction at Source and Tax Collection at Source.

Jun 26, 2017