Economy News

Arun Jaitley says ready to consider scrapping 1% manufacturing tax, hints at lower-than-18% GST rate

The 1% tax has been sought by states such as Gujarat and Tamil Nadu.

Dec 16, 2015

European nations get ready to review economic sanctions against Russia

Italy wants a debate on the sanctions as it has significant economic ties with Russia.

Dec 16, 2015

US Fed interest rate hike won't upset Modi government's crude oil math

The PPAC estimates India's oil import bill to be $73,286 million this fiscal, down 34.99% from $112,744 million in 2014-15.

Dec 16, 2015

Excise duty hiked on petrol, diesel to fetch Rs.2,500 crore

Basic excise on unbranded petrol has been increased from Rs.7.06 per litre to Rs.7.36

Dec 16, 2015

MasterCard, Visa want level playing field with RuPay in PM's Jan Dhan Yojana

Both companies see 'invisible mandate' behind choosing RuPay as card issuer for scheme.

Dec 16, 2015

SC ban on diesel vehicles: XUV 500, Scorpio, Sonata, Camry, Fortuner sales to be hit

Delhi is a major market for sale of diesel cars

Dec 16, 2015

India: Exports fall for 12th month in a row; scenario worse than 2008-09

Exports during November, 2015 stood at $ 20.01 billion, 24.43% down, y-o-y.

Dec 15, 2015

Pradhan Mantri Jan Dhan Yojana: Poor participation by private banks

Private banks accounted for just 3.76% of the accounts opened and 4.21% of the balance in those accounts.

Dec 15, 2015

Arrivals using E-tourist visas rose by a whopping 2713% in November

UK topped the list of countries using the facility followed by the USA.

Dec 15, 2015

Crude oil prices may snap losing streak, says top OPEC official

India has benefited a lot from falling crude oil prices.

Dec 15, 2015

Wealthy Asians continue to prefer Western brands over others: Survey

The survey covered 300 wealthy consumers in India, China, Indonesia, Thailand, Vietnam and the Philippines.

Dec 15, 2015

H-1B, L-1 visas could become costlier by $2,000 to fund US healthcare

Indian IT companies could face a spate of visa-related headwinds in the coming months.

Dec 15, 2015

November retail inflation hits 14-month high on costlier food items

The RBI aims to keep retail inflation to around 5% by March 2017.

Dec 15, 2015

Barack Obama expected to sanction Taiwan frigate sales despite China's opposition

The sale would mark the first time in four years that the United States has shipped arms to Taiwan.

Dec 15, 2015

Global glut plunges crude oil prices to near-11-year lows

Iran's entry in a big way poses another challenge to crude oil prices.

Dec 14, 2015