Economy News

India's GDP growth set to rise 7.2 percent in 2018, 7.4 percent in 2019: UN report

But, the report also pointed out that the performance of private investment remains a key macroeconomic issue.

Dec 12, 2017

Here's to a happy new year! Employees in India to get about 15% hike in 2018

Employees in India are likely to see a 10-15 percent hike in the new year as the economy is likely to shed of demonetisation woes and other issues such as automation.

Dec 11, 2017

Morgan Stanley expects India's GDP growth to accelerate to 7.5 percent in 2018

India's private capital spending and demand conditions are gradually recovering after the new tax regime and cash ban had disrupted economic growth for a short term.

Dec 8, 2017

Fake Rs 2,000 note was out within 53 days of demonetisation!

In just 53 days between November 8 and December 31 last year, police and other government agencies seized 2,272 fake Rs 2,000 notes -- at a time when people across the country were struggling to get hold of the new currency.

Dec 7, 2017

India's auto-component industry to grow 9-11% on higher car, two-wheeler sales

ICRA expects the industry-wide credit profile trends to remain stable, supported by robust demand from the OEM segment in the near term.

Dec 7, 2017

Small shops will now pay less fee on debit card payments as RBI rejigs merchant discount rate

The new rates will be effective from 1st January 2018.

Dec 7, 2017

Indian Railways travellers will soon get incentives for booking tickets via digital transactions

Other incentives will include offering free passenger insurance for cashless ticket purchases.

Dec 7, 2017

RBI holds repo rate unchanged at 6%, maintains neutral stance

Following the decision, the benchmark repo rate stands at 6 percent, and the reverse repo rate remains unchanged at 5.75 percent and the central bank maintained a neutral policy stance.

Dec 6, 2017

GST makes it tough to evade taxes: Finance Secretary Hasmukh Adhia

The government on Tuesday also announced incentives worth Rs 8,450 crore to boost exports of goods and services.

Dec 6, 2017

GST impact: Services PMI hit three-month low in November, Nomura 'surprised'

A composite PMI, which takes into account both manufacturing and services activity, fell to 50.3 from last month's 51.3.

Dec 5, 2017

Fitch lowers India's GDP outlook to 6.7%, says 'growth has repeatedly disappointed'

The US-based rating agency also lowered the country's growth forecast for 2019 fiscal to 7.3 percent from 7.4 percent.

Dec 5, 2017

Top 500 companies in India likely to face electronic tax scrutiny: Report

This electronic scrutiny will likely be introduced in the federal budget in February 2018.

Dec 5, 2017

India opposes e-commerce negotiations at WTO; submits formal document

India mainly opposed the negotiation because it fears that new rules could provide unfair market access to foreign companies, denting the fast-growing e-commerce platforms.

Dec 4, 2017

RBI's views on economy incorrect; rate cut possible, says Modi's economic adviser

Goyal explained that the RBI's consumer price index (CPI) forecasts are wrong. She further said that the central bank's stance to keep interest rates high to keep inflation under control also didn't pay off.

Dec 4, 2017

GST on restaurants: Govt takes tough stand against association lobbying to restore input tax credit

The Centre thinks that there is no question of a review for restaurants under GST as the extent of the price increase is unjustified.

Dec 4, 2017