Economy News

Wilful defaulters owe lender banks Rs 60,000 crore: Report

A willful defaulter is a borrower who indulges in deliberate non-payment of dues despite adequate cash flow and good net worth.

Mar 18, 2016

Risk of world economy slipping into recession increasing: Morgan Stanley

The US financial services firm also cut the global growth forecast for 2016 to three percent from the earlier 3.3 percent.

Mar 17, 2016

India's automobile production likely to remain flat in FY16

The country's automobile production for the 11-month period ended February 2016 grew 1.67 percent over the same period a year ago.

Mar 17, 2016

John McDonnell: George Osbornes failed on economic targets and lost credibility

Britains opposition finance minister accused the Chancellor of the Exchequer of creative accountancy on 16 March, after George Osborne said he would miss his own target of bringing down public debt this year, but can still turn the deficit into a surplus by 2020.

Mar 17, 2016

India to be 3rd largest civil aviation market by 2020

Increasing disposable incomes, fall in ATF prices and visa reforms will boost the Indian aviation sector, a FICCI-KPMG report noted.

Mar 17, 2016

India, Iran close to strike $4.5B undersea gas pipeline deal

The direct 1,400-km undersea gas pipeline from the Iranian port city of Chabahar to the Gujarat coast will bypass Pakistan.

Mar 17, 2016

Tax authorities scrutinising farm income over Rs 1 cr

Tax authorities are concerned some assessees may be passing off their unaccounted money as agriculture income, which is exempted from tax in India.

Mar 16, 2016

Taj Mahal falls victim to rising crime against foreign tourists

The number of foreign tourists visiting Taj Mahal was 648,000 in 2014, down from 695,000 in 2013 and 743,000 in 2012.

Mar 16, 2016

Indian Railways paid Rs 28,000 crore to its pensioners in FY15

The railways, which has approximately 1.38 million pensioners, incurs about 48 percent of its revenues on salaries and pensions.

Mar 16, 2016

DSP BlackRock buys Indian bonds ahead of possible rate cut by RBI: Report

DSP BlackRock had assets under management valued at Rs 39,182 crore as on Dec. 31, 2015.

Mar 16, 2016

Gold jewellery exports rise 74% in February

India exported gold jewellery worth $844.59 million in February 2016 as against $484.20 million in February 2015.

Mar 16, 2016

India's exports fall for 15th straight month

Indian goods exports fell to $20,738 million in February from $21.07 billion in January on slow global demand.

Mar 16, 2016

5 million tourists visited Goa in 2015

The tourist arrivals in the coastal state of Goa included 5.4 lakh foreign visitors, the state government said on Tuesday.

Mar 15, 2016

PE investments in India at all-time high in 2015

A total of 159 deals helped bring an investment of $19.5 billion in 2015, according to a PwC MoneyTree India report.

Mar 15, 2016

India's 10-year bond yield falls to 5-month low

The benchmark 10-year bond yield declined on hopes of a possible rate cut by the RBI after retail inflation eased to 5.18 percent in February.

Mar 15, 2016