Economy News - Page 17

Reserve Bank unlikely to cut repo rate today, says Reuters poll

To justify a rate cut this year, the RBI would likely need more comfort on consumer prices, either through a slump in food costs or an easing of core inflation, which has stayed at around 5 percent for several months.

RBI Monetary Policy: Rate panel meet begins, status quo on repo likely

Rising interest rate in the US provides sufficient indication that benchmark policy rate of the Reserve Bank of India is not going to go down but may increase in the future depending on domestic and external factors, experts said.

Yogi Adityanath's Rs 36,359 cr farm loan waiver: Political points scored, but good economics goes for a toss

Loan waiver isn’t the solution for farmer issues; there are many things the governments can do

Income tax-related proceedings to be done online, human interface to be minimised

A taxpayer will always have the option of coming out of the e-proceeding system at any point of time and go for the manual mode.

Global Natural Resources Conclave: Network18's two-day event kicks off today, will bring key players to a common platform

The platform aims to create awareness and spell out the ground realities, in terms of issues, opportunities and drawing the natural resources dividend.

Hit by liquor ban, Daman, Goa and others seek National Highway denotification

The SC verdict had come on a Public Interest Litigation (PIL) alleging that nearly 1.42 lakh people died per year in road mishaps and the drunken driving is a major contributor.

Waive loans of all drought-affected farmers, Madras High Court tells Tamil Nadu govt

In this difficult situation, the central government cannot be a silent spectator and should come forward to extend help to the state government to share the burden, the court said.

Don't 'misuse' H-1B visas: Trump administration issues stern warning to firms

The warning came as the government began accepting employers' H-1B visa petitions for the next fiscal year beginning 1 October, 2017.

Govt's FY17 tax collection at Rs 17.10 lakh cr exceeds estimates; PMGKY garners Rs 2,300 cr

The revised estimates (RE) provided in Budget on 1 February had projected tax collections of Rs 16.97 lakh crore.

SBI merges six banks with itself to create a behemoth: Here's how it will impact you

The borrowers are likely to benefit from the merger as the loan rates of associate banks are expected to align with SBI's

H-1B visa: Computer programmers do not qualify as 'specialty occupation' any more

The ruling reverses the US' more than decades and a half old guidelines, that were issued in the context of addressing the new millennium needs.

Demonetisation: Cash withdrawals decline; are Indians turning cashless or bank ATMs running out of money?

Main reason for the downward trend in cash withdrawals in March appears to be that there is simply not enough lower denomination notes available in the banking system (one likely reason why the RBI is now thinking of introducing Rs 200 notes) to fill the ATMs

BS-III vehicles ban to cost auto cos nearly Rs 3,000 cr: Crisil

"The discounts and incentives on vehicles sold till 31 March, 2017, are expected to have cost them about Rs 1,200 crore. Additionally, Rs 1,300 crore would be incurred to dispose of the unsold inventory," Crisil Research said.

SBI merger: Arundhati Bhattacharya says Rs 5,000 is minimum average balance, feels media not highlighting details

SBI gaining global size is a good thing for Indian banking sector in relation to the global industry. But as the trade unions caution, does the decision creates a bigger risk?

In GST regime, tax evasion over Rs 5 cr a non-bailable offence

In a 223-page FAQ on Goods and Services Tax (GST), the CBEC said other offences under the act are non-cognizable and bailable.

GST rollout: Finance ministry seeks public comments on eight set of rules

The government has sought comments from industry on the 4 set of new rules on -- GST Composition, GST Valuation, GST Transition and GST ITC.

March manufacturing PMI touches 5-month high on new orders, output growth

March is the third straight month in which manufacturing sector improved after the demonetisation-induced contraction at the end of 2016.

RBI governor Urjit Patel gets pay hike, monthly basic goes up to Rs 2.5 lakh

Still, the salary is much lower than the top executives of various banks regulated by the RBI.

SBI's minimum account balance, ATM withdrawal charges kick in today: All you need to know

Failure to maintain a monthly average balance of Rs 5,000 in metro branch accounts will attract penalty of up to Rs 100 plus service tax

Core sector growth slips to over 1-year low of 1% in February

Commenting on the data, rating agency ICRA said: "We expect the IIP to post a subdued volume growth in February 2017."

High interest rates will make Indian economy sluggish: Jaitley

Justifying slashing of interest rate on small saving instruments like PPF, Finance Minister Arun Jaitley today said interest rates in India are "extraordinarily" high and the country risks becoming the most sluggish economy if lending rates continue to rule high.

Reform momentum to gather pace in coming years: Finance Minister Arun Jaitley

"I think in the next two decades, at least I see India's hands full in trying to expand this infrastructure and get rid of deficit that existed in India," Jaitley said.

The great Indian irony: Farmers starve while politicians’ agricultural incomes continue to rise

Surely, you cannot have a country where one section of people can make money from agriculture, while another (significantly larger) section cannot

Notes ban kicks in from 1 April: Don't hold more than 10 notes of Rs 500, Rs 1000 from tomorrow , it's illegal

The deadline to exchange the notes for people other than NRIs had ended on 31 December itself

Finance Bill 2017 does nothing to make political funding transparent; here's how it can be done

Beyond cosmetic changes, Modi-government has so far failed to make meaningful improvement in transparency when it comes to political funding.

Bug in UPI: Bank of Maharashtra sees one of India's biggest frauds worth Rs 25 crore

The fraud was first reported in the media last week after a few arrests in Maharashtra, but the total amount transferred was under Rs 2 crore.

No stamping, tagging of hand baggage at Mumbai, Delhi and other 5 airports from tomorrow

Over 300 smart and high definition CCTV cameras have been deployed at these airports and the length of rollers at the baggage checking X-ray machines has been increased

Parliament heralds new era, completes Budget exercise before 31 March

Scrapping a colonial-era tradition of presenting the Budget at the end of February, Finance Minister Arun Jaitley for the first time in the history of independent India has presented the annual accounts on 1 February.

Parliament approves Finance Bill 2017 after the Lok Sabha rejects five amendments

The Lok Sabha rejected the Rajya Sabha amendments by a voice vote, thus passing the Finance Bill 2017 and completing the budgetary exercise for 2017-18.

As striking UP meat traders meet Yogi Adityanath today, here's state meat industry in one chart

There are as many as 22 million small and medium farmers from SC/ST and other backward communities involved in the state's meat and related industries