Economy News

Direct tax collection to fall short of budget estimates by Rs 40,000 crore, says Modi government

Tax collections till January 2016 reached 73 percent of FY2016 target.

Feb 10, 2016

UAE crown prince Sheikh Mohammed bin Zayed Al Nahyan on 3-day India visit from 10 February

The two countries are expected to sign about 16 agreements, including a pact on civil nuclear cooperation.

Feb 9, 2016

Global oil demand growth likely to fall sharply in 2016, says IEA

A slowdown in China, Europe and the United States will keep global oil demand growth muted in 2016.

Feb 9, 2016

US Food and Drug Administration rejected 13,334 Indian products

Reasons for rejection include packaging, labelling, misbranding and high residue levels.

Feb 9, 2016

RBI panel recommends guidelines for bond options

The working group, set up by the RBI, has called for introducing a call and put option format for trading over-the-counter.

Feb 9, 2016

India's Q3 GDP grows at 7.3 percent, FY2016 estimate revised higher to 7.6 percent

During the third quarter, the manufacturing sector grew at 12.6 percent, while agriculture declined by 1 percent.

Feb 8, 2016

Govt set to miss FY16 disinvestment target due to weak market conditions

The government may increase duties and ask for higher dividends from PSUs while try to meet the shortfall in disinvestment.

Feb 8, 2016

Gujarat to set up India's first civil aviation park

The state government hopes to attract domestic and overseas companies to set up manufacturing facilities in the aviation park.

Feb 8, 2016

GDP data to show economy racing, realities less rosy

A change made a year ago to the method GDP is calculated transformed India into one of the fastest growing economies.

Feb 8, 2016

Narendra Modi inaugurates Rs 34,500 crore Paradip oil refinery in Odisha

The refinery is expected to produce 5.6 mtpa of diesel, 1.96 mtpa of kerosene and 3.79 mtpa of petrol.

Feb 7, 2016

Govt likely to meet FY16 fiscal deficit target, says Deutsche Bank

On account of various constraints, the government would stick to a slow pace of fiscal consolidation for FY17.

Feb 7, 2016

Life-saving drugs to become expensive as govt withdraws customs exemption

The move is apparently aimed at protecting domestic pharma industry and boost Make in India initiative.

Feb 7, 2016

India's economic growth likely lost steam at end 2015 - Reuters Poll

Shrinking orders from the United States and Europe and a competitively weaker Chinese yuan contributed to a 14.75 percent plunge in exports in December.

Feb 6, 2016

Birla Corp acquires Rel Infra's cement business in Rs 4,800 crore deal

This deal would enhance Birla Corp's total cement manufacturing capacity to 15 mtpa from 10 mtpa currently.

Feb 5, 2016

Invest Karnataka 2016: Deals worth Rs 1.33 lakh crore signed

Investment deals and MoU's were inked across IT, agriculture, pharma, energy, tourism and infrastructure sectors.

Feb 5, 2016