Economy News

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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

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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

Pay up or begone, Supreme Court tells managements of defaulting firms

SC ruled in favour of ICICI Bank in the case of Innoventive Industries which owes banks over Rs 950 crore.

Sep 2, 2017

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Indian factory activity gains momentum in August amid GST confusion

The Nikkei/Markit Purchasing Managers' Index unexpectedly rose to 51.2 in August from July's contraction of 47.9, marking the biggest one-month jump in more than five years.

Sep 1, 2017

Modi govt extends Aadhaar-PAN linking deadline to December 31

Over 9.3 crore PAN-Aadhaar linkages were done till early August and nearly 30 crore were done in June and July. The number of linkages is now expected to surge.

Sep 1, 2017

Gross pain: Hard trudge for GDP, growth touches 3-year low of 5.7% in Apr-June

GVA (Gross Value Added) stagnates at 5.6% in Q1; note ban, GST rollout caused bigger disruption than expected

Aug 31, 2017

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FM Jaitley to private debtors: Pay dues or allow others to take over

Last month, the Reserve Bank of India (RBI) initiated insolvency proceedings against 12 large corporate defaulters, who account for Rs 2 lakh crore, almost one-fourth of the country's bad loans.

Aug 31, 2017

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Demonetisation fails: GDP growth fell to 6.1% while Modi govt hunted for 'black money'

No matter how inconsequential from an economic point of view, demonetisation has turned out to be a political victory for Prime Minister Narendra Modi.

Aug 31, 2017

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Demonetisation: Major chunk of deposited notes could be black money, says Finance Ministry

The Reserve Bank of India says that of Rs 15.44 lakh crore of banned notes, Rs 15.28 lakh crore notes -- nearly 99 percent -- had returned to the system through public deposits.

Aug 31, 2017

Of Rs 15.44 lakh crore of banned notes, Rs 15.28 lakh cr, or 99%, returned to the system, says RBI

RBI said the value of banknotes in circulation declined by 20.2 percent during the year to Rs 13.1 lakh crore.

Aug 30, 2017

Bloomberg charity scrutinised by India for anti-tobacco funding, lobbying

The government has since 2014 tightened surveillance of non-profit groups, saying they were acting against India's national interests.

Aug 29, 2017

Income Tax Department is facing major manpower crunch

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Income Tax Department faces major shortage of manpower: Reports [VIDEO]

About 3,000 posts of Income Tax Inspector are vacant and Assessment Officers are said to be overburdened with work.

Aug 29, 2017

Inflammable: Petrol prices spurt almost Rs 6, at 3-year high after 'dynamic pricing'

Petrol prices are now at their highest since August 2014.

Aug 29, 2017

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IT labour unions approach Chennai labour dept, demand inquiry into mass layoffs

The unions demanded immediate relief to employees who have filed petitions under section 2A of IT Act against forced resignations, the NDLF's IT employees' wing said.

Aug 29, 2017