Economy News

Indians bought gold worth $300 billion in 10 years

Total gold consumption between 2007-08 and 2016-17 at $300 billion was far greater than foreign portfolio investments of $124 billion, says Kotak Equities.

Jun 22, 2017

India's IT exports to grow at lower clip in FY18, shows Nasscom forecast

Nasscom president R. Chandrasekhar says Indian IT exports will grow by 7-8 percent, while domestic business will expand by 10-11 percent, creating 1.5 lakh new jobs.

Jun 22, 2017

Ad hawk's wings clipped: Realty firms must clear projects with RERA before promoting them

The move is set to hit the advertising budgets of an already subdued real estate market in a big way.

Jun 22, 2017

Banks, post offices, cooperative bank get one month to deposit demonetised notes

The finance ministry says that post offices, commercial banks and cooperative banks can deposit the old notes with the Reserve Bank of India.

Jun 21, 2017

Logistics stocks spurt as GST rollout nears

Snowman Logistics, VRL Logistics, Gati, Allcargo Logistics gained sharply on Tuesday; GST will be rolled out from June 30 midnight-July 1, as confirmed by FM Arun Jaitley.

Jun 20, 2017

Start loving GST from July 1, no excuses: Arun Jaitley

Rules out further delays in timeline for GST launch. Nobody has any business not to be ready, Finance Minister says.

Jun 20, 2017

Karnataka sees slowdown in IT hiring amid reports of layoffs

Priyank Kharge, Karnataka's IT minister, said that hiring by IT companies stood at 52,500 in 2016-17, down from 61,500 two years ago.

Jun 20, 2017

With more currency and no digital shift, demonetisation is a failure

Demonetisation via strategic devaluation of selected currency denominations rolled out last November has not resulted in a quantum shift to digital mode.

Jun 20, 2017

Safe assets: Digging new foundations in the small towns

Retail and warehousing are being driven by availability of large tracts of land on highways outside the metros, the steadily improving infrastructure and possibility of higher yields.

Jun 19, 2017

List of India's top 12 defaulters who owe a mind-boggling amount to banks

The RBI's list of top 12 defaulters comprise Lanco Infratech, Bhushan Steel, Alok Industries, Monnet Ispat, Essar Steel, Era Infra, ABG Shipyard, Jaypee Infratech, Amtek Auto, Electrosteel and Jyoti Structures.

Jun 19, 2017

7th Pay Commission: Central govt employees can hope for good news on allowances; Air India privatisation gains momentum

There is a possibility of the Union Cabinet taking a decision on raising allowances for Central government staff as recommended by the 7th Pay Commission.

Jun 19, 2017

GST Council allows late filing in first two months of tax regime launch

Companies need to file a complete return of their sales invoices by the 10th of the following month, with a second by the 15th, and a third return to calculate their tax bill.

Jun 18, 2017

Recovery time: Bankers to meet on Monday to decide on RBI's defaulter list

The 12 accounts were identified by the IAC after studying the top 500 ones in the banking system for defaulter urgency and insolvency potential.

Jun 18, 2017

India unveils blueprint for $1 trillion digital economy

The plan to achieve $1 trillion in digital and IT by 2022 also envisages India to become a global hub of low-cost digital technology.

Jun 17, 2017

Taxing with parity: India all set for GST, says top Finance Ministry official

GST will require firms to file at least three online tax returns monthly into the GST Network, which will process up to 5 billion invoices a month.

Jun 17, 2017