Economy News

GST Council exempts healthcare, education from taxes; next meeting on June 3

On the second day of the GST Council meeting headed by finance minister Arun Jaitley, it was decided to exempt education and healthcare from taxes.

May 19, 2017

GST a bane or blessing? Small cars to become costlier, SUVs, luxury cars to go cheaper

The GST Council finalised the tax rates of 1,211 items on Thursday, May 18 in four tax slabs — 5, 12, 18 and 28 percent and the cars attract the highest tax rate of 28%.

May 19, 2017

From Bill Gates to Mark Zuckerberg, how the world's richest lost millions thanks to Trump mayhem

In tune with the stock markets shedding gains on Wednesday, some of the world's richest people such as Mark Zuckerberg and Bill Gates reportedly lost big bucks.

May 18, 2017

GST Council finalises tax rates for 1,211 items; cars, refrigerators, ACs to attract 28%

The Goods and Services Tax (GST) Council finalised tax rates for 1,211 items; cars to be taxed at 28 percent, milk, cereals and wheat to be exempt.

May 18, 2017

Domestic air traffic: How IndiGo, Jet Airways, Air India, Go Air, AirAsia India, Vistara performed in April 2017

India's civil aviation regulator releases domestic air traffic data for April 2017; IndiGo does better than SpiceJet, Air India, Jet Airways to retain its position as the largest.

May 18, 2017

Income tax department releases list of tax defaulters; follows 'naming and shaming' principle

In newspaper advertisements, the income tax department "revealed" names of five defaulting companies that owe more than Rs 10 crore.

May 18, 2017

British unemployment rate at 42-year low

The number of jobless people, who are not in work but seeking and available to work, fell by 53,000 to 1.54 million in the first quarter this year.

May 18, 2017

Market rally expected to be more fundamental and decisive from here on, analyses Angel Broking

The rally in the NSE Nifty started well before the elections and actually peaked out in March 2015 after Arun Jaitley announced his maiden budget.

May 17, 2017

Operation Clean Money website launched by Union Finance Ministry

The income tax department will update Operation Clean Money with details of raids conducted and rate tax defaulters.

May 16, 2017

Data analytics can benefit railways 'immensely', says Suresh Prabhu

Railway minister Suresh Prabhu was speaking at a conference on "Data Analytics for Indian Railways" in New Delhi on Tuesday.

May 16, 2017

US companies push hard for lower tax rate on offshore profits

Lobbyists are making an aggressive case that cutting the tax rate on offshore profits to 10 percent from 35 percent is not enough.

May 15, 2017

China's retail sales up 10.7% in April

Total retail sales of consumer goods stood at $395.4 billion, Xinhua news agency cited the National Bureau of Statistics (NBS) as saying.

May 15, 2017

India's GDP growth likely to come at 7.4% in 2017-18: FICCI survey

The survey was conducted amongst economists belonging to the industry, banking and financial services sector.

May 15, 2017

India reports higher trade deficit in April due to spike in gold, crude oil imports

In April, India's exports zoomed 20 percent while higher gold and crude oil purchases spiked imports by 49 percent; trade deficit ballooned to $13.24 billion.

May 15, 2017

Mutual funds preferred private banks over tech stocks in April

In April, mutual fund managers preferred private banks, automobile makers, PSUs over IT companies such as Tech Mahindra, Wipro, TCS, Infosys, HCL Tech and Lupin.

May 15, 2017