Economy News

India's services activity expands at fastest pace in October on higher demand

The Nikkei/IHS Markit Services Purchasing Managers' Index (PMI) rose to 51.7 last month — the highest since June — from 50.7 in September.

Nov 3, 2017

Union government pushing to improve Ease of Doing Business ranking

According to reports, after jumping to the 100th place this year, India is now preparing to enter into the top-50 club with around 90 specific reforms lined up for various ministries.

Nov 3, 2017

Calls to boycott Chinese goods in India get louder even as China believes it is 'an irrational move'

The wide availability of Chinese goods, which are much more affordable than Indian goods and hence find more customers, also doesn't bode well for the Modi-government's "Make-in-India" initiative.

Nov 3, 2017

Confused between a job in Delhi and Mumbai? This is the city that has a higher salary scale

As per World Bank's Ease of Doing Business report, employees in Delhi are paid much better than those in Mumbai even though workers in the commercial capital are entitled to more annual paid leaves.

Nov 2, 2017

India's manufacturing activity loses steam in October on GST bite

The Nikkei Manufacturing Purchasing Managers' Index, compiled by IHS Markit, fell to 50.3 in October from September's 51.2.

Nov 1, 2017

Infosys refutes claims of unsatisfactory work on GST network; promises to resolve issues at the earliest

Three government officials have said that they are not happy with the GST network created and run by IT giant Infosys as taxpayers have frequently been facing glitches.

Nov 1, 2017

GST Council meet: Govt likely to reduce items in 28% slab

The GST Council headed by Union Finance Minister Arun Jaitley is yet to take a final decision. The Council will meet on November 9 in Guwahati, Assam.

Nov 1, 2017

India jumps to 100th spot on World Bank's Ease of Doing Business list

However, India lags in areas such as "starting a business", "enforcing contracts" and "dealing with construction permits."

Nov 1, 2017

IMF advises Gulf countries to shift from oil, diversify energy resources

In its Regional Economic Outlook, IMF projected GCC countries economic growth at just 0.5 percent this year, the worst since the global financial crisis of 2009.

Oct 31, 2017

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