Economy News

Black money declaration: Govt may extend deadline

The finance ministry has accepted the industry's request to accept tax in instalment scheme.

Jul 8, 2016

indian economy, india forex reserves, rbi data, india stock markets, indian rupee vs us dollar

China's foreign exchange reserves almost 10 times that of India

The People's Bank of China said that the country's foreign exchange reserves rose $13 billion in June to $3.21 trillion.

Jul 8, 2016

Global mobile app revenue and downloads are expected to grow significantly in the next 4 years

7.7 billion mobile apps to be downloaded by Indians by the end of 2016

India's app economy was not driven by the number of downloads or the revenue, but by the amount of time spent in-app by the users

Jul 7, 2016

Budget may be presented in December if govt switches to 'new financial year'

If the new financial year turns out to be calendar year, it would replace the budget presentation slot to December from February at present.

Jul 7, 2016

Minimum wage hike proposal currently put on hold

A labour ministry official said that any increase in wages would further raise the input cost for manufacturers and make them less competitive.

Jul 7, 2016

7th pay commission 7th cpc north block finance ministry delhi modi government employees strike july 11

7th Pay Commission: Central Govt employees postpone July 11 strike on hopes of higher salary hike

With the Modi government assuring the central government employees on a better deal with regard to the 7th Central Pay Commission, the July 11 strike stands deferred.

Jul 7, 2016

India's domestic air passenger growth 'fastest' at 18.8%

India's domestic air passenger growth at 18.8 percent was far ahead China and the United States, IATA said.

Jul 7, 2016

Asia stocks bounce, Aussie dollar hit by ratings blow

The Aussie initially fell half a U.S. cent to $0.7470 after Standard and Poor's cut the country's outlook to negative.

Jul 7, 2016

Oil edges up on U.S. inventories, but slowing Asia weighs

Traders said that a report of a reduction in available U.S. crude oil stockpiles had been the main overnight price driver.

Jul 7, 2016

Indian banks need $90 billion to meet Basel III rules, says ratings agency Fitch

More than half the capital needs will have to be met via core equity, Fitch said.

Jul 6, 2016

narendra modi pm us congress gdp questions us state department growth stats reforms statistics

India's GDP growth rate probably 'overstated', PM Modi slow on economic reforms: Obama Govt

The US State department has termed India's 7.5 percent GDP growth rate 'overstated', according to a PTI report.

Jul 6, 2016

Govt approves 9% hike for nearly 2 lakh BSNL pensioners

The hike is expected to fulfill a long pending demand of revision of pension of BSNL absorbed employees who retired prior to June 2013.

Jul 6, 2016

India's June services PMI logs 2nd slowest growth in a year

The slowing reading indicates concerns regarding the sustainability of the economic upturn, according to Nikkei India Services Business Activity Index.

Jul 5, 2016