Economy News - Page 14

Urjit Patel for public sector bank mergers, says need fewer but healthier banks

India's central bank is grappling with the large stressed banking sector balance sheets.

Farmers should pay income tax just like urban dwellers, says Niti Aayog member Bibek Debroy

The Policy Commission, set up by Modi to replace Nehru's Planning Commission, is now circulating a draft three-year "Action Agenda", to be followed by a seven-year "Strategy" and a 15-year "Vision" for India's development.

H-1B visa: Trump govt's 'serious actions' cause for worry for IT firms, says Arvind Subramanian

Indian technology companies depend on H-1B visas to hire tens of thousands of employees each year for their US operations.

H-1B visa: India has strong case; Nirmala Sitharaman should match Trump rhetoric with political chutzpah

Donald Trump was never known for a nuanced approach to public policy, and it is hardly surprising therefore that the US President has aides who shoot off their mouths about visa regimes like Wild West sheriffs who used to shoot first and ask questions later.

H-1B visa issue: US says 'greatly values' India's investment, wants strong economic ties

The US has been looking at ways to strengthen the processes like visa interview and admission processes in new ways, said US State Department acting spokesman

Digital transactions: Aadhaar-based cashless payment for postal services under study

A software had been developed for the purpose by the AP Technology Services and successfully tested at the General Post Office in Hyderabad.

Small, mid-sized cars may cost more after GST rollout from 1 July

Small cars currently attract a 12.5 percent central excise duty. Another 14.5-15 percent VAT is levied by states, taking the total tax incidence to 27-27.5 percent.

NITI Aayog's three-year action plan for nation's development; here are the highlights

The vice-chairman also invited further inputs and support of the states in taking the vision forward

Consumers get a free hand on hotel service charge payout

The norms, if implemented, will provide relief to customers who have to pay service charge up to 20 percent on food bills in lieu of tips.

Petrol, diesel at your doorstep soon; govt plans home delivery of fuel

This comes at a time when petrol pumps have threatened to shut shops on Sunday and the government has expressed its displeasure about this move citing inconvenience to consumers.

Raghuram Rajan warns of 'policy uncertainty' for world economy

In an interview to CNBC, Rajan said the "good news is some of the fears about the (Trump) administration that it would move immediately to a more protectionist stance haven't played out".

Calls to shut petrol pumps on Sundays: Oil ministry denounces decision, says move will inconvenience public

All India Petroleum Dealers Association, which claims to represent 80 percent of the 53,224 petrol pumps of public sector oil firms, has said it is not participating in the closure exercise

H-1B visa row: Nirmala Sitharaman hits back, says restrictive policies may impact US cos in India

America has committed a certain number of these visas to India and "we would definitely want America to honour that commitment".

MPC minutes: If remonetisation is progressing well, why are the ATMs still running dry?

If demonetisation impact is a thing of the past and the impact is transitory, why the manufacturing sector is still struggling to get back to shape?

Finance Ministry ratifies 8.65% interest rate on EPF deposits for 2016-17

The Employees' Provident Fund Organisation trustees had approved 8.65 percent rate on EPF in December last year.

Finance ministry approves 8.65% interest rate on PF for 2016-17: Labour Minister

The ratification of the 8.65 percent interest on EPF will enable the retirement fund body EPFO to credit this rate of return into the accounts of four crore subscribers.

Petrol pumps to remain shut on Sundays: Fuel conscious? Or merely money-conscious?

Could it be that the privileges these pump owners once enjoyed – of cash transactions, of favourable deals and of shortchanging customers – are now coming to a close in a digitized and more transparent age?

Visa bans, investment woes: Why lack of fresh jobs may emerge as Modi’s big nightmare in 2019

It is not just an economical challenge Modi will have to face, but political as well.

Inflation worries: RBI not to tinker with policy rates over the next 18 months

The median consensus in the poll of more than 35 economists, conducted between 10-19 April, was for the policy repo rate to remain at 6.25 percent until the fourth quarter of 2018 at least, and the reverse repo rate at 6 percent

Farm loan waiver may win votes, but what about ailing state banks and worsening public finances

Economists caution that the move could encourage indebted farmers not to repay loans, deepening malaise at public sector banks already saddled with most of India's $150 billion in stressed loans

Finance minister Arun Jaitley may take up H-1B visa issue with US authorities

Jaitley is leaving tonight on a five-day visit to the United States to attend the Spring Meetings of the World Bank and IMF as well as deliberations of G20 nations.

Life beyond H-1B: Try L1, EB5 visas, immigration experts suggest

L1 visas facilitate the temporary transfer of a foreign worker in the managerial, executive or specialised knowledge category to the US to continue employment with an office of the same employer.

Indian IT firms may face layoffs due to US visa curbs: Assocham

Nearly 86 percent of the H-1B visas issued for workers in the computer space go to Indians and this figure is now sure to be scaled down to about 60 percent or even less, the paper said.

Petrol pump dealers' decision to close on Sundays could invoke Essential Commodities Act: Govt

Dealers' body representatives told the media on Tuesday that their decision was in line with Prime Minister Narendra Modi's recent call to save petrol and diesel.

IMF trims India's growth forecast to 7.2% for 2017 citing demonetisation impact

The Indian government in February had pegged GDP growth at a higher-than-expected 7.1 per cent for the current fiscal despite the note ban.

IMD sees normal monsoon this year: Good news for GDP, but don't rush to celebrate yet

The monsoon forecast is critical for us since around half of India’s agricultural production consists of kharif crops which are largely rain-fed.

Good news on Railways 2016-17 revenue: Why there is still a crying need to raise fares

Railways has failed to achieve even its revised passenger revenue target for the fiscal while freight revenue has declined significantly year on year

Telecom Minister Manoj Sinha allays fears over mobile tower radiation

The minister emphasised that prescribed limits for radiation emissions in India are more stringent than global norms.

World Bank forecasts Indian economy to grow 7.2% in FY18; GST to have positive impact

In its report on South Asian Economy, the World Bank said that "significant risks" to economic growth could emanate from fallout of demonetisation on small and informal economy, stress in the financial sector and uncertainty in global environment.