Economy News

Foreign investors flock to India with billions of dollars

Debt and equity investments by foreign portfolio investors (FPIs) stood at $7.6 billion for April-May this year, as against $1.96 billion last year.

Jun 12, 2017

Boxing the box office: Revised tax rates on movie tickets will spur torrents, piracy, say Netizens

Union Finance Minister Arun Jaitley said movie tickets priced under Rs 100 will carry an 18 percent tax rate, while those above Rs 100 would be taxed at 28 percent.

Jun 11, 2017

Big relief for small industry: GST Council slashes rates on 66 items

The Finance Ministry tweeted on Sunday that it received representations for about 133 items from industry, of which rates were reduced on 66 items.

Jun 11, 2017

Gold is cold: GST might tarnish profits of the jewellery sector, fear jewellers

Apex bullion dealers body India Bullion and Jewellers Association (IBJA) has said that the GST structure will block 87 per cent working capital to the industry.

Jun 11, 2017

Taxing times: 37 returns instead of 13 for small traders under GST

Many procedural challenges to implementing the goods and services tax from July 1, say experts. A central and state GST are proposed to be levied separately. Wholesalers will have to deposit the CGST into a central government account and the SGST into a state government account.

Jun 10, 2017

Americans could end up with $1 trillion in credit card debt: WalletHub

With a projected $60 billion addition in new credit card debt this year, the overall money owed could cross $1 trillion, says WalletHub.

Jun 10, 2017

Action-packed week ahead for India Inc; PSU bank chiefs to meet Arun Jaitley, IT honchos to hold talks with Ravi Shankar Prasad

Finance minister Arun Jaitley is scheduled to meet PSU bank chiefs on June 12 while IT minister Ravi Shankar Prasad is likely to hold talks with software firms on June 16 amid reports of layoffs, rumours of stake sale by Wipro and Infosys.

Jun 10, 2017

Farm loan waivers are necessary, but not a solution: MS Swaminathan

Three states have waived farm loans so far – Uttar Pradesh, Telangana and most recently, Maharashtra. But protests have been raging in Madhya Pradesh and Tamil Nadu over similar demands.

Jun 10, 2017

India's plan to develop key Iranian port faces U.S. headwinds

India committed $500 million to speed development of the port after sanctions on Iran were lifted following a deal struck between major powers and Tehran to curb its nuclear program in 2015. But not a single tender has been awarded for supplying equipment like cranes and forklifts.

Jun 10, 2017

India takes US to World Trade Organization for failing to drop steel duties

The non-compliance complaint, effectively a new trade dispute, could lead to India asking to impose trade sanctions if the United States is found not to have complied.

Jun 9, 2017

India's foreign exchange reserves hit fresh high; list of top countries with high forex holdings

For the week ended June 2, India's foreign exchange reserves rose $2.4 billion, according to RBI data.

Jun 9, 2017

Retail inflation likely to drop further for May, factory output for April likely to fall sharply: Nirmal Bang

Factory output (IIP) is expected to fall to 1.2 percent for April while retail inflation would come at 2.3 percent for May, says Nirmal Bang economist.

Jun 9, 2017

Five takeaways from Supreme Court order on linking Aadhaar with PAN

In a partial relief, the Supreme Court held that not linking PAN with Aadhaar will not lead to criminal consequences.

Jun 9, 2017

Wages of indecision: Govt yet to fix MGNREGA pay

In spite of a committee's recommendation to bring in change when it comes to calculating wages under MGNREGA, the central government has failed to hike the salaries in real terms.

Jun 9, 2017

India signs OECD convention to prevent tax evasion

The agreement was signed by Union Finance Minister Arun Jaitley, who is on a four-day visit to France to participate in the OECD meetings.

Jun 8, 2017