Economy News

Gross pain: Hard trudge for GDP, growth touches 3-year low of 5.7% in Apr-June

GVA (Gross Value Added) stagnates at 5.6% in Q1; note ban, GST rollout caused bigger disruption than expected

Aug 31, 2017

FM Jaitley to private debtors: Pay dues or allow others to take over

Last month, the Reserve Bank of India (RBI) initiated insolvency proceedings against 12 large corporate defaulters, who account for Rs 2 lakh crore, almost one-fourth of the country's bad loans.

Aug 31, 2017

Demonetisation fails: GDP growth fell to 6.1% while Modi govt hunted for 'black money'

No matter how inconsequential from an economic point of view, demonetisation has turned out to be a political victory for Prime Minister Narendra Modi.

Aug 31, 2017

Demonetisation: Major chunk of deposited notes could be black money, says Finance Ministry

The Reserve Bank of India says that of Rs 15.44 lakh crore of banned notes, Rs 15.28 lakh crore notes -- nearly 99 percent -- had returned to the system through public deposits.

Aug 31, 2017

Of Rs 15.44 lakh crore of banned notes, Rs 15.28 lakh cr, or 99%, returned to the system, says RBI

RBI said the value of banknotes in circulation declined by 20.2 percent during the year to Rs 13.1 lakh crore.

Aug 30, 2017

Bloomberg charity scrutinised by India for anti-tobacco funding, lobbying

The government has since 2014 tightened surveillance of non-profit groups, saying they were acting against India's national interests.

Aug 29, 2017

Income Tax Department faces major shortage of manpower: Reports [VIDEO]

About 3,000 posts of Income Tax Inspector are vacant and Assessment Officers are said to be overburdened with work.

Aug 29, 2017

Inflammable: Petrol prices spurt almost Rs 6, at 3-year high after 'dynamic pricing'

Petrol prices are now at their highest since August 2014.

Aug 29, 2017

IT labour unions approach Chennai labour dept, demand inquiry into mass layoffs

The unions demanded immediate relief to employees who have filed petitions under section 2A of IT Act against forced resignations, the NDLF's IT employees' wing said.

Aug 29, 2017

Modi govt unlikely to shift financial year to January-December

Switching the financial year would mean the budget would have to be presented by end of October or early November, which is unrealistic.

Aug 29, 2017

Niti Aayog proposes to remove agriculture from Essential Commodities Act: Report

The move is aimed to organise trading and is likely to reduce handling costs, reduce prices and increase returns for farmers, the report stated.

Aug 28, 2017

RBI to introduce brand new Rs 1,000 note: Report

The new Rs 1,000 currency note will come with enhanced security features and could be out as early as December 2017.

Aug 28, 2017

5,954 wilful defaulters face recovery action from PSU banks

Total outstanding loans due to public sector banks by wilful defaulters amounted to Rs 92,376 crore, according to the finance ministry data.

Aug 27, 2017

6 foods that can last a century

Some foods can last a century. Here are 6 foods that can last forever. If stored properly they will never spoil and will stay as fresh as the day you bought them.

Aug 27, 2017

Urban India has potential to switch over to electric cooking: Niti Aayog

The suggestion may appear to be ahead of its time and will be difficult to achieve as the government is still struggling to bring electricity to all the villages and households.

Aug 26, 2017