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Economy News

Bangalore Metro Namma Metro Bangalore infra

Liquor, petrol, diesel, aerated drinks to cost more in Karnataka

Karnataka CM Siddaramaiah, who also holds the finance portfolio, proposed to raise taxes on these items while presenting the budget for 2016-17 Friday. Mar 18, 2016
Reserve Bank of India

India's forex reserves rose for second straight week

India's foreign exchange reserves increased $2.54 billion in the week ended March 11, according to the Reserve Bank of India. Mar 18, 2016
Foreign tourists celebrate Holi

Foreign tourist arrivals in India rose 11% in February

Foreign tourist arrivals grew 11.43 percent to 8.47 lakh from 7.61 lakh visitors in February 2015. Mar 18, 2016
Indian Oil Corporation Petrol prices petrol price hike IOC

Additional excise duty on petrol, diesel deprived consumers of Rs 90,000 cr in savings

These savings could have provided additional demand in the economy to the extent of 1% of GDP, according to a State Bank Ecowrap note. Mar 18, 2016
PSU Bank

Wilful defaulters owe lender banks Rs 60,000 crore: Report

A willful defaulter is a borrower who indulges in deliberate non-payment of dues despite adequate cash flow and good net worth. Mar 18, 2016
Morgan Stanley world GDP world economy global economy

Risk of world economy slipping into recession increasing: Morgan Stanley

The US financial services firm also cut the global growth forecast for 2016 to three percent from the earlier 3.3 percent. Mar 17, 2016
Hyundai Motor Car sales vehicle production car exports

India's automobile production likely to remain flat in FY16

The country's automobile production for the 11-month period ended February 2016 grew 1.67 percent over the same period a year ago. Mar 17, 2016

John McDonnell: George Osbornes failed on economic targets and lost credibility

Britains opposition finance minister accused the Chancellor of the Exchequer of creative accountancy on 16 March, after George Osborne said he would miss his own target of bringing down public debt this year, but can still turn the deficit into a surplus by 2020. Mar 17, 2016
Indian civil aviation industry

India to be 3rd largest civil aviation market by 2020

Increasing disposable incomes, fall in ATF prices and visa reforms will boost the Indian aviation sector, a FICCI-KPMG report noted. Mar 17, 2016
pipeline

India, Iran close to strike $4.5B undersea gas pipeline deal

The direct 1,400-km undersea gas pipeline from the Iranian port city of Chabahar to the Gujarat coast will bypass Pakistan. Mar 17, 2016
Farmer Tax

Tax authorities scrutinising farm income over Rs 1 cr

Tax authorities are concerned some assessees may be passing off their unaccounted money as agriculture income, which is exempted from tax in India. Mar 16, 2016
taj mahal, manipuri students

Taj Mahal falls victim to rising crime against foreign tourists

The number of foreign tourists visiting Taj Mahal was 648,000 in 2014, down from 695,000 in 2013 and 743,000 in 2012. Mar 16, 2016
railway indian railway salaries pension

Indian Railways paid Rs 28,000 crore to its pensioners in FY15

The railways, which has approximately 1.38 million pensioners, incurs about 48 percent of its revenues on salaries and pensions. Mar 16, 2016
Mutual Funds Blackrock DSP Bonds

DSP BlackRock buys Indian bonds ahead of possible rate cut by RBI: Report

DSP BlackRock had assets under management valued at Rs 39,182 crore as on Dec. 31, 2015. Mar 16, 2016
gold jewellery gold exports

Gold jewellery exports rise 74% in February

India exported gold jewellery worth $844.59 million in February 2016 as against $484.20 million in February 2015. Mar 16, 2016
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