Economy News

Innovation and mindset change can generate 1 million jobs in Railways: Goyal

The minister said that over the years the system created has been slow to move, eventually causing delays and reducing focus on costs and efficiency.

Oct 5, 2017

Hiring in India rises at the fastest pace in over six years

The Nikkei/IHS Markit Services Purchasing Managers' Index surged to 50.7 in September from 47.5 in August.

Oct 5, 2017

Incoming SBI chief says bad debt numbers "will look better"

Reviving credit growth and resolution of stressed assets will be top priority for SBI, Rajnish Kumar said.

Oct 5, 2017

Govt expects economic growth to bounce back in coming quarters

This optimism comes after the Reserve Bank of India slashed its growth projection to 6.7 percent from its previous forecast of 7.3 percent in the October monetary policy meeting held on Wednesday.

Oct 5, 2017

RBI keeps policy rate unchanged at 6%, slashes growth forecast

In the latest RBI monetary policy meeting the most unprecedented decision was to slash the growth outlook for the current year from 7.3 percent to 6.7 percent.

Oct 4, 2017

US becomes India's latest crude oil supplier

"It's a new chapter in the history of Indo-US trade, and for the oil and gas sector in both the countries," IOC tweeted.

Oct 3, 2017

7th Pay Commission latest update: Central govt employees may get another salary hike

The government of India could hike the salary of central government employees again and it could come into effect early next year.

Oct 2, 2017

Unstimulating: Fiscal deficit hovers at 96% of full-year target, dashes stimulus hopes

During the same period last year, fiscal deficit had touched 76.4 per cent of the full-year target

Sep 30, 2017

Arun Jaitley slams Yashwant Sinha, calls him 'job applicant at 80'

Jaitley's response came a day after Yashwant Sinha, in an opinion piece, criticised Jaitley's handling of the economy saying that the Indian economy now is on a downward spiral.

Sep 29, 2017

No plans to scrap General Electric locomotive plant, says Piyush Goyal

Says work on the diesel locomotive plant at Marhowra in Bihar is going ahead as planned.

Sep 28, 2017

Donald Trump proposes controversial US tax overhaul, stirs concerns on deficit

US President Donald Trump proposed on Wednesday the biggest US tax overhaul in three decades, prompting criticism that it favours the rich and could add trillions to the US fiscal deficit. Read to know more.

Sep 28, 2017

More setbacks? GST collections fell to Rs 90,669 crore in August

During the month of August, assesses paid taxes also dropped by around nine percent. Reports say that 55 percent of assesses paid taxes for August, compared to 64 percent for July.

Sep 27, 2017

Former finance minister Yashwant Sinha criticises Arun Jaitley, says economy is 'on a downward spiral'

"The prime minister claims that he has seen poverty from close quarters. His finance minister is working over-time to make sure that all Indians also see it from equally close quarters," said Yashwant Sinha.

Sep 27, 2017

GST relief : Exporters may be exempted from IGST on imported inputs

The final decision on the matter will be taken by the GST Council on October 6.

Sep 26, 2017

PM Modi revives Economic Advisory Council with Bibek Debroy as its head

Prime Minister Narendra Modi has constituted the Economic Advisory Council, to be chaired by NITI Aayog member Bibek Debroy. Read to know more.

Sep 26, 2017