Economy News

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India's GDP likely to grow at 7.3% in FY18: Elara Securities economist

In a note, Garima Kapoor, economist at Elara Securities, says Indian economy would grow at 7.3 percent in 2017-18 as against 7.1 percent in 2016-17.

Jun 1, 2017

Infosys co-founder Narayana Murthy to IT companies: Take salary cuts to stem job losses

In an interview to a TV channel, Infosys co-founder Narayana Murthy says senior executives of IT companies should take pay cuts and train employees to limit job losses.

Jun 1, 2017

Karnataka IT Minister Priyank Kharge to meet employees union to discuss IT layoffs

While Karnataka IT minister Priyank Kharge plans to meet the All India IT Employees Association that he will meet them "soon," Ravi Shankar Prasad is likely to meet the IT giants this month.

Jun 1, 2017

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Arun Jaitley blames weakening global economy for weak Q4 GDP growth

Responding to India'a Q4 GDP growth rate falling to 6.1 percent, finance minister Arun Jaitley blamed weakening global economy for the slowdown.

Jun 1, 2017

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India's factory output growth rate falls to 3-month low in May

The Nikkei Manufacturing Purchasing Managers' Index, compiled by IHS Markit, fell to 51.6 in May from April's 52.5.

Jun 1, 2017

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India loses world's fastest-growing economy tag to China; March quarter GDP growth comes at 6.1%

During the March 2017 quarter, India's GDP grew at 6.1 percent as against China's 6.9 percent, thus losing its world's fastest-growing economy status.

May 31, 2017

TCS managers receive 31% pay hike after IT giant records 4.2% net profit in Q4

While the senior managers at Tata Consultancy Services have received a pay hike of about 30 percent, employees are said to be looking at a 10 percent raise.

May 31, 2017

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Modi govt rules out postponing GST implementation date; GST Twitter handle gets good response

Revenue secretary Hasmukh Adhia said GST will be rolled out on July 1 as scheduled; Twitter handle @askGST_GoI gets good response.

May 31, 2017

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Bank account number portability is now possible: RBI Deputy Governor S S Mundra

Speaking at an event in Mumbai, RBI Deputy Governor S S Mundra said bank account number portability is now within the realms of possibility thanks to Aadhaar.

May 30, 2017

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RBI to soon introduce new Re 1 note

The new notes will be pink-green in colour and will have a representation of the one rupee coin on the reverse of the note.

May 30, 2017

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TN hotels, restaurants shut against GST

The dawn-to-dusk (6 a.m. to 6 p.m.) shutdown call for Tuesday was given by the Tamil Nadu Hotels and Restaurant Association.

May 30, 2017

India's growth to slow down to 6.8% in 2016-17: World Bank

While limited data is available, demonetisation may have had a disproportionate impact on poorer households, which are more likely to work in construction and informal retail.

May 30, 2017

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Cattle trade ban to halt beef exports, lead to job losses

Indian meat traders, under the aegis of the Quresh Action Committee and other trade associations, plan to petition the Supreme Court to get the government order rescinded.

May 30, 2017