Economy News

Saudi plans major investment in India's refining, petrochemical sector

The Kingdom's state-owned Saudi Aramco is a joint venture partner of the $44 billion-Ratnagiri Refinery and Petrochemicals Ltd, which is reportedly decided to establish its refining and petrochemical facilities in Raigad district of Maharashtra.

Sep 30, 2019

Amazon, Flipkart festive sale: E-tailers offer big discounts despite economic slowdown

Booming sales in tier-two and lower cities helped e-tailers such as Amazon and Flipkart achieve their biggest ever opening.

Sep 30, 2019

Will RBI cut interest rate by 40 bps for 5th successive time this year?

Most experts expect a rate cut though they differ on the quantum ranging between 15 and 40 basis points; Finance Minister Nirmala Sitharaman's growth push is likely to guide RBI's monetary policy

Sep 29, 2019

Finance Minister Nirmala Sitharaman asks CPSEs to clear all dues by Oct 15

The government isreviewing counter-claims related to arbitration and a meeting will be held between the Ministry of Finance and the RBI on the issue.

Sep 29, 2019

PM Modi invites global CEOs to invest in India, assures support

PM Modi was speaking at the Bloomberg Global Business Forum which was attended by world leaders and top corporate executives.

Sep 26, 2019

Govt's big corporate tax cut unlikely to spur job bonanza

While the tax rate cut brings the cost of doing business in India into line with its main Asian rivals, the government giveaway will do little to fix the lack of spending power, economists say.

Sep 26, 2019

Modi govt plans another round of PSU stake sale to recover loss from tax bonanza

Centre may also opt for using buffer, which means a slight deviation from the target, and then close the deficit again once the economy is back on a high growth track.

Sep 24, 2019

How corporate tax cut will boost smartphone manufacturing in India

India slashed its headline corporate tax rate to 22% from 30% on Friday in a surprise gambit aimed at wooing manufacturers and boosting investment.

Sep 24, 2019

India's strategic drive for LNG source diversification gets a boost with US deal

Petronet LNG will invest $2.5 billion in Tellurian Petronet's Louisiana project under proposed tie-up concluded in the presence of Prime Minister Narendra Modi

Sep 23, 2019

Is Thomas Cook a casualty of Brexit uncertainty as lenders remain tightfisted?

Prolonged Brexit uncertainty is to partly blame for the failure of the world's oldest travel group to raise enough cash to service debt leading to bankruptcy.

Sep 23, 2019

Corporate tax rate cuts will not lead to a slash in spending, says FM Sitharaman

India cut corporate tax rates on Friday in a surprise move designed to woo manufacturers, revive private investment and lift growth from a six-year low.

Sep 23, 2019

Will Sitharaman's tax tweak snare capital fleeing China over US trade war?

Finance Minister Nirmala Sitharaman's sweeping reforms slashing corporate tax rates to bring them at par with most South Asian and Southeast Asian nations are expected to trap investments headed even to low-tax destinations like Bangladesh and Vietnam.

Sep 21, 2019

Pre-Diwali bonanza for India Inc? Govt announces bold reforms to kick start the economy

Finance Minister Nirmala Sitharaman exhibited boldness while announcing the decisions and instead of being nervous about the revenue shortfalls, she conveyed a clear message that growth is now the topmost priority.

Sep 21, 2019

37th GST Council meeting: Rate on hotel tariffs cut, caffeinated drinks get costlier

The key sectors which would benefit from GST rate cuts are hotels, gems and jewellery, defence and automobiles.

Sep 21, 2019

India cuts corporate tax rate to 25% in bid to revive growth; here's what experts say

Finance Minister Nirmala Sitharaman told a news conference that the effective corporate tax rate will be lowered to around 25% from 30%, which she said would be on par with Asian peers.

Sep 20, 2019