Economy News

Modi Govt revises GFRs to enable faster implementation of schemes

The revised General Financial Rules 2027 were released by finance minister Arun Jaitley on Tuesday.

Mar 8, 2017

International Women's Day special offers: Air India, Jet Airways, Vistara, SpiceJet roll out top deals

Domestic airlines Air India, Vistara, Jet Airways , SpiceJet are marking International Women's Day with various initiatives.

Mar 8, 2017

Spring Budget 2017 preview: What will Chancellor Philip Hammond have in his red box?

IBTimes UK attempts to predict what Hammond has been planning in Number 11.

Mar 7, 2017

India's vital statistics at a glance since note ban

Data for various sectors such as civil aviation, exports, imports, automobiles, tourism show a mixed trend after PM Modi's note ban decision.

Mar 7, 2017

India to remain world's fastest-growing economy, reveals Fitch Ratings's Global Economic Outlook

In its latest Global Economic Outlook (GEO) released on Tuesday, Fitch Ratings highlights significant trends globally.

Mar 7, 2017

State Bank of India joins ICICI, HDFC & Axis Bank to impose restrictions on cash transactions

Besides issuing new rules on cash withdrawals and deposits, the SBI also re-introduced penalty for not maintaining a minimum bank balance.

Mar 6, 2017

Plans afoot to introduce common registration form for provident fund, ESIC

This would be in line with a series of changes made or being planned to give relief to employees in provident fund (EPFO), pension and insurance claims.

Mar 6, 2017

China faces uphill task in gas vs coal trade-off

The projected extra needs would inflate China's gas demand by a quarter, according to consultancy Wood Mackenzie.

Mar 6, 2017

Nepal Investment Summit secures $13.51 billion in investment commitment

China commits $8.3 billion at the Nepal Investment Summit that also five other countries making promises to invest in the country.

Mar 4, 2017

US Fed chair signals March interest rate hike

The US Federal Reserve is scheduled to hold its next monetary policy meeting on March 14 and 15.

Mar 4, 2017

Farm loan waiver: Karnataka wants Centre to write off Rs 21,164 crore, PM Modi promises to waive agriculture debt in UP

Karnataka CM Siddaramaiah wants PM Modi to waive 50 percent of bank loans to farmers, opening the floodgates for Tamil Nadu and other states.

Mar 3, 2017

India services sector rebounds for first time in 4 months, reveals PMI data for February

The Nikkei/IHS Markit Services Purchasing Managers' Index rose to 50.3 in February from 48.7 in January.

Mar 3, 2017

China should pay more attention to India's growth in manufacturing sector, says Beijing-based Global Times

While pointing out the flaws in the Indian manufacturing sector, the editorial in Global Times also commended India for growing.

Mar 3, 2017

Supreme Court-appointed SIT says Rs 70,000 crore black money unearthed; but is Rs 559 per Indian enough?

The recovered amount is much lesser than what would ensure putting Rs 15 lakh in the account of each Indian — something that Narendra Modi had promised in the run-up to the 2014 LS polls.

Mar 3, 2017

Modi govt could place limit on cash holdings by Indians

The SIT had made two recommendations on the subject, a cap on cash transactions and on cash holdings, of which one has already been accepted.

Mar 2, 2017