Economy News

Oil prices rise in anticipation of tighter 2017 market

Traders said the higher prices in front-month crude futures were due to expectations of a tighter market.

Dec 19, 2016

Income tax dept recovers Rs 10.50 crore worth assets from tea seller in Surat

Rs 1.45 crore in cash, Rs 1.05 crore in new currency, bullion worth Rs 1.49 crore were recovered during the raid.

Dec 18, 2016

Budget 2017 will focus on encouraging public, private spending: Arun Jaitley

Jaitley said spending boost is required to satisfy India's aspiration to increase GDP growth and become a developed economy.

Dec 18, 2016

Hyderabad: Gold worth Rs 2,700 crore imported into city post-demonetisation

Between November 8-30, 8,000 kgs of gold was brought into the city using demonetised currency.

Dec 18, 2016

Bengaluru: 2 RBI officials arrested for currency exchange fraud

The latest arrests have raised questions on the role played by the central bank officials in currency exchange process.

Dec 18, 2016

RBI issues FAQs on deposit scheme for undisclosed income

The Pradhan Mantri Garib Kalyan Deposit Scheme (PMGKDS) 2016 is the second amnesty scheme, after the IDS, for income tax evaders.

Dec 17, 2016

Narendra Modi govt walks the talk on digital push to procurement

The number of e-tenders has gone up substantially since the Modi government came to power and launched Digital India.

Dec 17, 2016

GST rollout likely between April 1-September 16: Arun Jaitley

Not ruling out possible delay in GST implementation, the Finance Minister said it is a transaction tax and can be rolled out anytime of the year.

Dec 17, 2016

New Rs 1,000 note: Images of 'new' note going viral; will it be introduced soon?

The new Rs 1,000 notes are also said to have entered the pilot printing stage.

Dec 17, 2016

Note ban: Political parties exempt from tax scrutiny on old Rs 500, Rs 1,000 deposits; Kejriwal lashes out

As per law, if donations are above Rs 20,000 per individual, they have to be deposited through cheques or bank drafts.

Dec 17, 2016

Demonetisation: NITI Aayog CEO says cash crunch to end in January 2017

The Centre is working towards promoting Aadhaar-enabled payment system (AEPS), which means that more and more bank accounts would be linked to Aadhaar.

Dec 17, 2016

India's foreign exchange reserves dip by $887 million to $362.98 billion

For the week ended December 9, India's foreign exchange reserves stood at $362.98 billion, says RBI data.

Dec 16, 2016

Modi govt's carrot-and-stick strategy: IDS and IT raids recover Rs 6,700 crore and unearth Rs 3,000 crore

The Income Disclosure Scheme has generated over Rs 6,700 crore as the first instalment of tax that was to be deposited by November 30.

Dec 16, 2016

Solar power slowly becoming world's cheapest form of electricity, analysts say

"Renewable energy will beat any other technology in most of the world without subsidies," says an expert.

Dec 16, 2016

Evening wrap: SC stands by note ban, Nirbhaya revisited in Delhi, Irina Shayk pregnancy news, and more

Read about the Narendra Modi government ensuring the safety of women passengers, and NASA finding water on Ceres.

Dec 16, 2016