Economy News

Evading taxes? IT dept may soon descend on you as it gears up to open old files and closed cases

The apex court's ruling overturns the CBDT's notification, in which it said that the IT department would not file an appeal if the amount of tax to be recovered is Rs 4 lakh or below.

Oct 31, 2017

Bank recapitalisation 'appropriate', 'bad loan' problem not as bad as it looks: Former RBI governor Y V Reddy

Dr YV Reddy said that non-performing assets (NPAs) is not today's problem, the problem has been accumulated over the years.

Oct 29, 2017

Telecom employees willing to shift sectors, take pay cuts as industry sees slump; 100,000 jobs may face the axe

Recruiters have revealed that the number of resumes from employees of the telecom sector has seen a jump of about 35-40 percent compared to last year and many are even ready to take a pay cut.

Oct 27, 2017

In a first, Indian Railways invites bids for rail tracks from private steel producers

Market experts believe the move of opening up the procurement process may benefit Jindal Steel & Power (JSPL), as it is the only other local producer of steel of this grade.

Oct 27, 2017

Indian Railways to get 7 lakh metric tonnes of rails to renew old tracks

The decision comes after reports suggested earlier this month that Indian Railways will spend Rs 1,000 crore over the next six months to replace old and outdated tracks with new ones.

Oct 26, 2017

Cash ban, GST disruptions to cool India's GDP growth to a 4-year low: Reuters poll

But despite the broad and marked slowdown expected in economic activity, India's projected growth rate will be second to the world's fastest growing major economy - China - if predictions are met.

Oct 26, 2017

RBI governor, chief economic advisor hail govt's bank recapitalisation plan

Many analysts believe that bank recapitalisation will boost credit growth by 10-11 percentage points over the next one year.

Oct 26, 2017

Bharatmala: The road-building project to generate 14 crore mandays of jobs over 5 years

According to the plan of Bharatmala scheme, Rs 2.09 lakh crore would come from market borrowings, Rs 1.06 lakh crore as private investments and the balance from the Central Road Fund.

Oct 25, 2017

Govt retaliates to 'Gabbar Singh Tax' jibe by Rahul Gandhi as September collection hits Rs 92,150 crore

With the decision to waive off late fee payment, the government also knocked off Rahul Gandhi. The Congress vice-president had earlier said that GST is not Goods and Services Tax but "Gabbar Singh Tax."

Oct 25, 2017

India projected to become the third largest aviation market by 2025

IATA expects India to surpass the UK in 2025. It is projected to add 337 million new passengers in 2036 for a total of 478 million.

Oct 25, 2017

Government announces Rs 2.11 lakh crore recapitalisation for PSBs: PM Modi plays big gamble on job front?

The Central government on Tuesday announced recapitalisation of PSBs to the tune of Rs 2.11 lakh crore. Read to know how PM Modi looks to gain from this.

Oct 24, 2017

Government waives GST late fee for August and September, but you still may have to pay it!

The Central government on Tuesday waived the late fee for filing GST returns for August and September. Read to know why you still may have to pay the fee.

Oct 24, 2017

India gets further push on road to progress: Rs 7 lakh crore project for 83,000 km of highways gets Cabinet nod

The Union Cabinet has reportedly given the nod for the construction of 83,000 km of highways across India over five years at a cost of Rs 6.9-7 lakh crore.

Oct 24, 2017

India say goodbye to slow internet! Government has begun process for fast broadband connectivity

The Central government has begun the process that will bring 2 Mbps broadband connectivity to each and every corner of India. Read to know more.

Oct 24, 2017

Stalled infrastructure projects cost government Rs 1.72 lakh crore extra

The expenditure incurred on these 1,257 projects till July is Rs 6.80 lakh core, which is 38.87 per cent of the total anticipated cost. Moreover, of the 1,257 projects there are 331 projects, whose cost overran by 274 times.

Oct 23, 2017