Economy News

More than 1 lakh foreign tourists visited India on e-tourist visas in March

E-tourist visas were availed of by 1.15 lakh foreign tourists visiting India in March 2016, up from 25,800 in March 2015.

Apr 12, 2016

SC wants disclosure of loan default details, RBI opposes

SC says total amount of outstanding bank loans is "quite a substantial amount" and "does make out a case" for disclosure.

Apr 12, 2016

Contracts worth Rs 60,000 crore to be awarded in port sector by May-end: Gadkari

Investments worth Rs 2 lakh crore are expected during the Maritime India Summit, which will be held in Mumbai from April 14-16.

Apr 12, 2016

Government to call for rural BPO tenders soon

The government plans 190 new rural BPOs with an employment capacity of 1.25 lakh employees each shift.

Apr 12, 2016

India Inc to post best Ebidta growth in 6 quarters during Q4, FY16: Crisil

Revenues of IT services companies are expected to grow in double digits, a Crisil report noted.

Apr 11, 2016

World Bank trims 2016, 2017 East Asia growth forecasts; cites risks to outlook

Its previous forecast in October was 6.4 percent growth in 2016 and 6.3 percent in 2017.

Apr 11, 2016

Indians coming back after 1-year foreign stay to pay 15% duty on certain items

However, the total aggregate value of duty goods should not exceed Rs. five lakh, according to the new custom rules.

Apr 10, 2016

Govt releases Rs. 12,230 crore under MGNREGA fund to states

The Supreme Court had recently criticised the government for not providing adequate relief to the drought hit states.

Apr 10, 2016

Egypt, Saudi Arabia sign 60 billion Saudi riyal investment fund pact

An MoU was also signed between the Saudi Public Investment Fund and the Egyptian International Cooperation Ministry.

Apr 10, 2016

Energy ties with Iran not limited to crude oil: Oil minister Dharmendra Pradhan

India is ready to invest $20 billion in the port of Chabahar in Southeastern Iran.

Apr 9, 2016

With 30% stake in Sanmar Chemicals, Fairfax India investment reaches $1 billion

Sanmar will get Rs.1,996 crore equity investment from Fairfax, helping it become one of the largest PVC makers globally.

Apr 9, 2016

Tax collection exceeds target for the first time in 8 years

The gross tax collection for 2015-16 at Rs.14.60 lakh crore (provisional) exceeded for the first time since 2007-08, writes BusinessLine.

Apr 9, 2016

US small cap funds shine in first quarter but may have harder road ahead

The trailing price-to-earnings ratio of the benchmark Russell 2000 now stands at 27.2.

Apr 9, 2016

China steel exports hurt market economy status, industry official says

China Iron and Steel Association Secretary General Liu Zhenjiang said the recovery in prices in 2016 had created a "vicious circle."

Apr 9, 2016

India's foreign exchange reserves hit an all-time high of $360 billion

The reserves stood at $359.75 billion in the week ended April 1, up from the earlier historic high of $355.94 billion.

Apr 8, 2016