Economy News

India expected to post first current account surplus in nine years

For the full year ending in March 2017, India is likely to post a deficit even lower than last year's 1.1 per cent of GDP.

Sep 14, 2016

India adds 94 lakh vehicles to its roads in 5 months

Domestic vehicle sales rise 15.4 percent to 93.91 lakh units between April and August this year, but exports fall.

Sep 14, 2016

Chiefs of SBI, ICICI Bank, Axis Bank feature in Fortune list of most powerful women outside US

While Arundhati Bhattacharya ranks second, Chanda Kochhar claims fifth and Shikha Sharma holds the 19th position in the list.

Sep 14, 2016

National Payments Corporation of India expands shareholding base to 56 banks

In the last six years, the umbrella organisation has grown from two million transactions a day to 25 million transactions.

Sep 13, 2016

Cauvery water dispute: India Inc. declares holiday

Due to escalating tensions in Bengaluru, IT firms Infosys, TCS, Wipro and banks have declared Tuesday a holiday.

Sep 13, 2016

Illegal construction in Bengaluru: BBMP to resume demolition from Wednesday

The city's civic body, BBMP, had halted the demolition drive due to Ganesha and Bakrid celebrations.

Sep 13, 2016

GST Council to hold first meeting on Sept. 22, 23

The Union Cabinet approves the formation of the GST Council to roll out the indirect tax on April 1, 2017.

Sep 12, 2016

Indian aviation market to grow to about 600 million passengers annually: Jayant Sinha

The central government plans to upgrade airport infrastructure in six years to cater to the influx of passengers.

Sep 12, 2016

Direct, indirect tax collection posts robust growth; Sensex crashes on global cues

Total tax collection (net) of Rs. 5.25 lakh crore includes direct tax that rose 15 percent to Rs. 1.89 lakh crore.

Sep 12, 2016

Despite criticism, railways to continue with flexi-fare system on premium trains

Officials have justified the surge pricing by saying that despite the hike in fares, there has been no fall in the number of bookings.

Sep 12, 2016

India pips China as biggest recipient of remittances in 2015

India received $69 billion in remittances, followed by China at $64 billion, in 2015, according to a report by Western Union.

Sep 11, 2016

RBI's draft corporate lending norms could lead to higher retail loans, says SBI chief Arundhati Bhattacharya

The draft RBI guidelines on corporate lending could push banks towards retail lending, says SBI chief Arundhati Bhattacharya.

Sep 11, 2016

Bleak Q2 outlook dents TCS market capitalisation by Rs. 31,723 crore

For the week ended Sept. 9, TCS, ITC, Infosys and HDFC saw erosion in investors' wealth, with TCS taking the maximum hit.

Sep 11, 2016

Spanish Talgo train clocks less than 12 hours between Delhi-Mumbai in final trial

During the trial, the high speed train completed the 1,388 km journey at a speed of 150 kmph.

Sep 11, 2016

Zimbabwe to axe 25,000 government jobs

The finance minister claims that 96.8 percent of the annual budget is spent on civil servants' salaries.

Sep 11, 2016