Economy News

Cabinet may soon okay first capital goods policy

A draft policy by the Heavy Industry Ministry suggests a rationalised tax structure to facilitate the capital goods sector in the country.

Feb 14, 2016

BRO proposes India's longest road tunnel in J&K for Rs 9,000 crore

If approved, the 18 km tunnel will become the longest road tunnel in the country.

Feb 14, 2016

Global slowdown fears overshadow Singapore aviation show

Worries about the effects of a faltering global economy and tensions in the South China Sea overshadow the event in Singapore.

Feb 14, 2016

Railways opts for e-auctioning of scrap; fetches Rs 3,000 crore in FY15

Using an e-payment facility, the e-auction would enable scrap purchasers to bid online simultaneously all over the country.

Feb 14, 2016

India, Israel to explore joint defence equipment manufacturing, R&D

India will send a business delegation to Tel Aviv for a defence seminar to be held from Feb. 21 to 25.

Feb 13, 2016

Palestine Investment Fund chairman likely to visit India shortly: Report

The PIF is a private equity and venture capital firm, according to Bloomberg.

Feb 13, 2016

Abu Dhabi crown prince Sheikh Mohammed bin Zayed al-Nahyan's India visit overshadowed by market mayhem

A slew of bilateral agreements were signed, but details were not available except for tweets by the External Affairs Ministry spokesperson.

Feb 13, 2016

Oil rockets from 12-year low on renewed talk of OPEC cut

Despite the strong daily gain, oil prices were poised to end the week down as much as 5 percent.

Feb 13, 2016

IIP contracts for second straight month in December

While electrical machinery and apparatus shrank by 44.9 percent, mining and electricity bucked the trend, growing at around 3 percent each.

Feb 12, 2016

January retail inflation hits 17-month high at 5.69%, below RBI's target of 6%

India's central bank had targeted 6 percent retail inflation by January 2016 and had tweaked its key policy rate accordingly.

Feb 12, 2016

Residential property launches fell 20% in 2015, says Colliers International

Delays in clearances, combined with other factors, caused the decline, says the report.

Feb 12, 2016

India's fuel demand up 12.7% in Jan, rises at fastest pace in 3 months

Fuel consumption in India surged 12.7 percent to 15.71 million tonnes.

Feb 12, 2016

Rupee closes at 68.30, near all-time low of 68.85 to the US dollar

On Aug.28, 2013, the rupee fell to a new depth and recorded its biggest single-day fall since October 1995.

Feb 11, 2016

Govt may hike service tax to 16% in this budget: Report

The existing service tax rate is 14 percent, excluding 0.5 percent levied under Swachh Bharat cess.

Feb 11, 2016

Insurance, pension benefits for workers in unorganised sector likely soon

The smart card will provide pension and insurance benefits to about 40 crore people employed in unorganised sectors.

Feb 11, 2016