Economy News - Page 13

H1-B: Trump says he wants to stop illegal immigration, move to merit-based system

Donald Trump praised Australia and Canada for their merit-based immigration system. "They are very strong; they are very good," he said.

Arvind Subramanian's searing criticism: Why do we take rating agencies seriously at all?

Rating agencies have kept BBB- rating for India, despite clear improvements in economic fundamentals, while China, with deteriorating fundamentals, has been upgraded to AA-

Rs 25 per ATM cash withdrawal? SBI’s new rule is illogical and will hurt common man

Customers in the small income group and students will have to draw small amounts multiple times from ATMs. The Rs 25 per transaction charge will impact them hard.

Job cuts are a wider problem, not limited to Infosys, TechM; is Modi govt waking up to challenge?

The pain of job losses is visible in other sectors as well. This makes Narendra Modi's task of employment generation a lot tougher.

How to protect India's agriculture sector from over-zealous govt functionaries?

The crisis for farmers growing pulses has a lot to do with all the government schemes and their shortcomings. It is possible that the present crisis will have taught the government a great deal

NPA ordinance: Letting RBI fight NPA battle is no solution; privatise weak PSBs before time runs out

If the Narendra Modi-government is serious in its intent to save ailing state-run banks, it should look for radical reform steps to save the banks and initiate the privatisation process without delay.

Six months of demonetisation: Cash has returned to rule and it means the move failed

It is safe to say that demonetisation has failed to achieve what it set out to achieve i.e. if it set out to achieve anything on the economic front

Six months of demonetisation: The big takeaway; no magic cure for black money, corruption, terror

As of now, the pain is more visible than gains

Demonetisation did not stop future black money flows, move hit lower income groups more: UN report

Rural incomes and consumption were affected due to a decline in prices for agricultural products, which was not reflected in national accounts data

Bank NPA resolution is shrouded in fears of various kinds; it's time for RBI to act

Now that the bullet has been bitten, the RBI needs to speed up the process of setting up the committees and identifying the first list of assets

NPA ordinance: Govt will have to answer unpleasant questions about conflict of interest

The new law could give rise to larger problems of micromanagement and thereby conflict of interest in the banking sector for both the government and the RBI; it is not good for the sector in the long term

NPA ordinance gets president's approval; RBI gets more powers to tackle bank bad loans

The amended law will also empower the RBI to set up oversight panels that will shield bankers from later action by probe agencies looking into loan recasts

Linking Aadhaar to ration cards helped govt save Rs 14,000 cr, claims Ram Vilas Paswan

The government aims to computerise the PDS to check pilferage and plug leakages by installing electronic PoS devices at all fair price shops

New NPA package for banks makes RBI more powerful; it's a move in the right direction

For the bankers, RBI becoming party to NPA decision is good. They can cast aside the fear of being hunted by vigilance department for taking a high hair cut. That will be RBI's headache.

Govt gives nod to 7th pay commission recommendation for defence disability pension; 55 lakh retirees to benefit

The benefits of the modifications will be applicable from 1 January, 2016. With this, the annual pension bill of the Centre is expected to be around Rs 1,76,071 crore.

India surpassed energy efficiency targets for 2012-2015, but why is Modi govt not making data public?

A government-led scheme to improve energy efficiency and cut emissions in some of India’s most energy-intensive industrial units has purportedly exceeded targets, saving enough energy to avoid capacity addition equal to India’s entire nuclear-power capacity as of end 2016, and preventing as much CO2 from being released into the air as would have been discharged by 19.4 million Indians in one year at 2013 levels.

Core sector industries grow 5% in March on higher coal, steel output

Coal production increased by 10 percent in March 2017 (2.5 percent a year ago) and steel by 11 percent (7.8 percent)

LPG price hiked by Rs 2 per cylinder, kerosene by 26 paisa a litre amid move to eliminate fuel subsidy

Oil firms had last raised price of subsidised cooking gas by Rs 5.57 to Rs 440.90 per 14.2 kg cylinder on 1 April.

Jobless growth: Niti Aayog offers just a partial solution based on old data

Niti has used old data to make assertions against the jobless growth charge. It quotes figures for unemployment from the six year old NSSO Survey of 2011-12 and for the services sector, it goes back further – by a decade

Petrol, diesel prices to be revised daily in Puducherry, Vizag, other 3 cities from today

IOC said customers may verify fuel prices by downloading the company app or visiting its website

States need to distinguish between rich and poor farmers: CEA Arvind Subramanian

A controversy erupted after NITI Aayog member Bibek Debroy suggested that the agricultural income should be taxed.

GST to help raise India's medium-term growth to over 8%, says IMF

"The government has made significant progress on important economic reforms that will support strong and sustainable growth going forward," Tao Zhang, Deputy Managing Director of the International Monetary Fund, said.

India in advanced stages of formulating defence manufacturing policy: FM Arun Jaitley

Finance Minister Jaitley, who holds additional charge of the Defence Ministry, said the focus would be on technological tie-ups to help India become a "manufacturing economy"

Finance Minister Arun Jaitley promises no surprises in GST rate fixation

The Finance Minister said the Council is of the opinion that any benefit accruing from lower tax rates under GST should be passed on to consumers.

India likely to overtake Germany to become world's fourth largest economy in 2022: IMF

Over the next five years time, India will topple Germany from the current fourth position, while the international organisation predicts the UK will be pushed out of the top five global economies

7th Pay Commission: Allowances panel submits reports, seeks abolition of 52

The report will now be examined by the empowered committee of secretaries and following that it will be placed before the Cabinet

RBI Governor Urjit Patel says stock of Rs 500/2000 notes was kept ready before demonetisation

No records of discussion between the RBI and the government on demonetisation were maintained because of secrecy, RBI Governor Urjit Patel has told a Parliamentary Standing Committee on Finance