Economy News

India's first International Exchange to go live on January 16

Touted as Prime Minister Narendra Modi's pet project, the International Exchange has been set up at Gujarat International Finance-Tec city based in Gandhinagar.

Jan 10, 2017

Demonetisation: Black money is now with banks and it's huge

There are conflicting reports on how much gains accrue to the Modi government over demonetisation; one estimate puts it at Rs 3 to 4 lakh crore,

Jan 10, 2017

5th Pay Commission: Salary hike for Meghalaya Govt employees gets delayed

Meghalaya government employees are seeking salary and allowances at par with those proposed by the 7th pay commission.

Jan 10, 2017

Vibrant Gujarat 2017: Three-day global investor summit begins from January 10

The eight edition of the investors' summit — Vibrant Gujarat 2017 — aims to garner huge investments; PM Modi will hold talks with top 50 CEOs.

Jan 10, 2017

Budget 2017: FM Arun Jaitley provides insights on income tax collection in India

Tax compliance leaves a lot to be desired, says finance minister Arun Jaitley days before the presentation of Budget 2017.

Jan 9, 2017

Air India deemed 'third-worst' airline in the world, Israel's EI AI the worst

FlightStats has tagged KLM Airlines as the best airline for its on-time performance.

Jan 9, 2017

Budget 2017: Will there be a Digital Bharat Cess like the Swachh Bharat Cess?

Digital Bharat Cess on the lines of Swachh Bharat Cess and Krishi Kalyan Cess could be brought in Budget 2017 to drive digital payments.

Jan 9, 2017

Free Trade Wars: Assocham warns of export disruptions as Donald Trump ups the ante on free trade

The government must work for an effective lobbying to explain to the US policy makers how free trade would help both the countries, Assocham says.

Jan 9, 2017

Tax collection rises sharply for April-December 2016: Modi Govt

Indirect tax collection is up 25 percent while direct taxes saw 12 percent growth, the Modi government said in a statement.

Jan 9, 2017

7th Pay Commission: Poll-bound states outsmart Modi Govt in wooing employees

Election-bound states announce implementation of pay commission recommendations to avoid violating model code of conduct.

Jan 9, 2017

People need not pay transaction charges for using credit and debit cards at petrol pumps, says government

Union minister Dharmendra Pradhan said on Monday the transaction fee issue would be resolved by banks and oil-marketing companies, which is their issue.

Jan 9, 2017

Karnataka petrol pumps to stop accepting debit, credit card payments from Monday

Petrol pumps have said it will be all cash until the banks withdraw the 1% transaction charge.

Jan 8, 2017

Govt may tax black money deposited in banks after demonetisation, says Arun Jaitley

Jaitley said just because banned notes have been deposited in the banks do not make them legitimate and the Revenue Department may tax this money.

Jan 8, 2017

Railways to set up ATMs on platforms; eyes revenues worth Rs 2,000 crore

Next week, Suresh Prabhu will launch the non-fare revenue policy that would offer various schemes for revenue-generating activities.

Jan 8, 2017

ATM cards, POS machines will become redundant by 2020, says Niti Aayog CEO Amitabh Kant

Niti Aayog has constituted a committee to identify and operationalise user-friendly digital payment options across the sectors.

Jan 8, 2017