Economy News

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

President Pranab Mukherjee voices concern over rising bad loans of banks

Bad loans hit lending capacity of banks hard, President Mukherjee said while speaking at a Karur Vysya Bank event.

Sep 10, 2016

India to grow 7.5% in FY17: Dun & Bradstreet report

A better investment climate is expected to boost economic prospects.

Sep 10, 2016

GST Council formation likely to be taken up by Union Cabinet next week

The Goods and Services Tax Council will have the responsibility of fixing the rates, among other things.

Sep 10, 2016

India's foreign exchange reserves at record high of $367.76 billion

The foreign exchange reserves of India rose $989.5 million for the week ended Sept. 2, according to RBI data.

Sep 9, 2016

Government to monetise Wakf properties for constructive use

The move will also ward off "Wakf mafia" who have been encroaching vacant properties since the Wakf Board was set up.

Sep 9, 2016

Railways could lose passengers to airlines due to flexi-pricing

Despite rising rail fares, state-run carrier Air India said it will not increase last minute airfares or on tickets booked four hours before takeoff.

Sep 9, 2016