Economy News

Former RBI governor Raghuram Rajan pitches for state asset sales to bail out banks

Rajan, a former International Monetary Fund economist, had a high-profile three-year term as the head of the RBI, playing a crucial role early in his tenure in stabilising the currency.

Sep 8, 2017

DeMo flashback: 21,000 people disclosed Rs 4,900 cr 'black money' under PMGKY

Surprisingly, revenue secretary Hasmukh Adhia, after the closure of the PMGKY window, had said the response had "not been so good."

Sep 7, 2017

Trump delivers speech on tax reform

U.S. President Donald Trump said on Sept. 6 he would get into great detail about his tax reform plan in the next two weeks.Trump, during a visit to North Dakota, listed his broad principles for tax reform to include simplifying the U.S. tax code and providing tax relief to middle-class Americans.

Sep 7, 2017

GST collections hit Rs 94,000 crore for July

The number of returns filed has shot up to 44 lakh and more than Rs 2,500 crore more has come in as taxes.

Sep 7, 2017

Rich poor gap: 'India's income inequality highest since 1922'

The research paper revealed that in India, the income growth rate of top one percent was 13 times higher than the bottom 50 percent.

Sep 6, 2017

Falling oil prices: OPEC on slippery slope as it chases long-term economic ambitions

It is a relief to many import dependent developing economies that oil price has not surged over the April 2011 level, during which it touched $123.37 a barrel.

Sep 6, 2017

From book launch to bank mergers and demonetisation, here's what Raghuram Rajan said

"In that duty (as RBI governor), you sometimes have to say no to pressures that come down on you," Rajan said.

Sep 6, 2017

Currency printing presses demand Rs 577 cr from RBI for Modi govt's DeMo drive

The big amount demanded from the central bank is mainly because of importing currency note paper and other printing materials used for printing Rs 500 and Rs 1,000 notes.

Sep 6, 2017

Exporters demand complete GST exemption on capital crunch

About Rs 1.85 lakh crore of working capital will get stuck annually because of GST implementation.

Sep 6, 2017

GST impact: Indian services activity contracts in August

The Nikkei India Services Purchasing Managers' Index (PMI) Business Activity Index improved slightly to 47.5 in August from 45.9 in July.

Sep 5, 2017

State-owned banks asked to opt for alternative mechanism for faster merger: Report

On August 23, the central government gave an in-principle approval for the mergers of state-owned lenders.

Sep 4, 2017

Digital gold: Bitcoin value zooms past record $5,000 mark

Bitcoin gained a massive 400% growth in terms of value thanks to increased interest expressed by major financial institutions over cryptocurrencies backed by blockchain technology for secure transactions.

Sep 3, 2017

Never favoured demonetisation, suggested alternatives: Raghuram Rajan

"At no point during my term was the RBI asked to make a decision on demonetisation.": Raghuram Rajan

Sep 3, 2017

Government waives penalty on late GST returns for July

For July, GSTR-1 needs to be filed between September 1 and 5 and GSTR-2 between September 6 and 10.

Sep 2, 2017

Air travel in domestic flights gets costlier as regional cess comes into effect

Airlines have been opposing the DGCA order and asking the government to find some other way to create Regional Cess Fund.

Sep 2, 2017