Economy News

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

FM Sitharaman's liquidity drive gives the economy a booster shot of demand rise

Credit fairs by public sector banks will bring early festival cheer to consumers as corporate tax bonanza will put on steroids PM Modi's FDI push after Howdy Modi.

Sep 20, 2019

Nirmala Sitharaman slashes corporate tax rates in big boost to flagging economy

Nirmala Sitharaman said the new effective tax rate will be reduced from 30 percent to 25.17 percent, inclusive of all surcharges and cess.

Sep 20, 2019

Banking nightmare next week? PSBs will be shut for 5 days effectively

Country's biggest lender, the State Bank of India said that the banking operations are likely to be affected if the unions go ahead with the strike.

Sep 19, 2019

Maruti chairman joins Sitharaman in blaming millennials for slowdown in auto sector

Maruti chairman Bhargava thinks Sitharaman's view that millennials' dependence on Uber, Ola may be contributing to auto sector slowdown is correct

Sep 19, 2019

Nirmala Sitharaman and Kiran Mazumdar Shaw get into spat on Twitter over e-cigarette ban

Biocon chief Kiran Mazumdar Shaw wondered why the ban on e-cigarettes was made by the Union Cabinet and not by the Health Minister.

Sep 19, 2019

US Federal Reserve cuts interest rates, signals holding pattern for now

Fed Chair Jerome Powell said the rate cut was designed "to provide insurance against ongoing risks" including weak global growth and resurgent trade tensions.

Sep 19, 2019

India to invite bids from global coal miners; will end Coal India monopoly by 2020

The government aims to allow companies with winning bids to begin development of the coal blocks - which hold proven reserves - by early 2020.

Sep 19, 2019

In a major step, government to introduce Aadhar-like ID for landholdings

The government believes that the step would support real estate transactions, help resolve property tax issues and improve disaster planning and response efforts.

Sep 18, 2019

Cabinet bans e-cigarettes; move to protect youth, children, says Nirmala Sitharaman

This means production, manufacture, import, export, transport, sale, distribution, storage and any advertising related to e-cigarettes are now banned following the cabinet's approval.

Sep 18, 2019

Massive Coal India recruitment move brings cheer amid slowdown, divestment gloom

India's second-largest employer is offering 9,000 openings; 4,000 people will be recruited to fill up executive posts and the rest will be technical and non-technical staff.

Sep 18, 2019

US lawmakers urge Trump administration to restore India's trade privileges

The elimination of Generalized System of Preferences (GSP) brought higher retaliatory tariffs from New Delhi on 28 US products including almonds, apples and walnuts.

Sep 18, 2019

E-commerce shopping plunges one fifth in first half of 2019 amid slowdown and lower discount

Mobile phones and fashion are the two major segments that have registered a steep fall.

Sep 16, 2019