Economy News

Budget 2017: CII wants drastic reduction in personal, corporate tax rates

Trade body CII has a long wish list for Budget 2017 that includes recommendations on income tax rates and slabs, and corporate tax.

Dec 23, 2016

Income Tax department scrutinises 67.5 lakh income tax non-filers who made high-value transactions

The I-T Department has held more than 760 searches and seized at least Rs 3,590 crore in unaccounted wealth after demonetisation.

Dec 23, 2016

Airline charges: Now, pay 'family fee' if you want to sit with your folks on a flight

Air India had introduced the concept of 'family fee' in May this year and now Jet Airways follows suit.

Dec 22, 2016

Assam: BSF officials recover Rs 29 lakh in new notes; 2 arrested

The two men were travelling with the money to Gasupara in South Garo hills from Assam.

Dec 22, 2016

PM Modi's demonetisation could push India's GDP growth to 20-year low

Brokerage Nomura says PM Narendra Modi's demonetisation and the resultant chaos has disrupted the Indian economy in a big way.

Dec 22, 2016

Budget 2017: As oil prices rise on a slippery path, beware of a dead cat bounce

A supply glut and changing world demographics will act as sufficient ingredients for volatile or direction-less oil prices in 2017.

Dec 22, 2016

India's cash crunch likely to persist till end of January 2017

Brokerage Nomura says remonetisation by the RBI is at a fast pace but cash crunch would last till mid to end January next year.

Dec 22, 2016

ED arrests Kolkata businessman Parasmal Lodha for converting Rs 25 crore in old notes for Shekar Reddy

Reddy and his associates were arrested by the CBI on Wednesday over illegal possession of unaccounted money and assets.

Dec 22, 2016

RBI statistics reveal billions withdrawn in cash after remonetisation

Remonetisation after demonetisation of Rs 500 and Rs 1,000 notes by PM Modi sees Indians withdrawing huge cash, according to RBI data.

Dec 21, 2016

CBI arrests Chennai industrialist Sekar Reddy for possession of unaccounted money

Raids earlier this month had led to the recovery of Rs 154 crore in cash, including Rs 34 crore in Rs 2,000 notes, and over 167 kg of gold.

Dec 21, 2016

IPL 2017 could spring a positive surprise to Modi govt's digital economy drive

More non-cash sale of match tickets for VIVO IPL 2017 would give a fillip to Narendra Modi government's digital economy initiatives.

Dec 21, 2016

US President Barack Obama bans oil and gas drilling in most of Arctic and Atlantic oceans

Donald Trump, during his presidential campaign, had said that he wants to open up more lands for mining and drilling.

Dec 21, 2016

Demonetisation and the digital economy: Narendra Modi govt makes another move, this time on wages

The Union Cabinet discussed amending provisions of Payment of Wages Act to ensure more non-cash payment of salaries.

Dec 21, 2016

RBI deposit rules: New letter says no questions will be asked of account-holders who have completed KYC

The RBI letter of Wednesday comes as a relief to people who were facing questions from banks for depositing more than Rs 5,000 in old notes.

Dec 21, 2016

Hong Kong stops visa-free entry for Indians; introduces pre-arrival registration scheme

The decision is a major setback for more than half a million Indians who visit Hong Kong for vacations, trade and business purposes every year.

Dec 21, 2016