Economy News - Page 21

Retail inflation rises to 3.65% in February on costlier food items

Rural retail inflation was at 3.67 percent in February compared with 3.36 percent in the preceding month.

TRAI asks global SIM card cos to explain poor service quality

an SMS-based survey initiated by the regulator revealed that nearly half the consumers who used the services felt that it worked partially or did not work at all

Taxes under GST 'to increase a bit': Central Board of Excise and Customs chairman

Apart from the tax rates, there will also be a cess on top of it, which will form the corpus to compensate the states for any revenue loss for the first five years of implementation of GST.

Uttar Pradesh election win will boost PM Modi's reforms but loan waiver a bad idea

More than the number game, the huge public mandate will give a psychological advantage to Modi in the House and will help the government progress on the reforms agenda, mainly the remaining work on GST, and later the politically sensitive land and labour reforms

WPI inflation spikes to 39-month high of 6.55% in February on surge in food rates

According to the official data released today, food prices witnessed a sharp rise by 2.69 percent in February as compared to a deceleration by 0.56 percent in the previous month.

Protectionist West can have a big impact on India: CEA Arvind Subramanian

Subramanian suggested that India should follow in China's footsteps to advocate open markets.

EY sees digital media overtaking traditional in India by 2021-22 with higher smartphone, broadband use

Indians spend about two-and-a-half hours per day on traditional media including television, radio, newspapers, and magazines, compared to the one hour they spend on digital media on average.

Is Kerala govt's plan to finance highway projects with non-resident Keralites' money feasible?

The Kerala government is hoping to find takers amongst Malayalees in the Gulf countries to fund ambitious highway projects in the state. But will it work?

Banks to charge on cash withdrawal and deposits not fair, RBI should step in

When a bank sinks, the concern is that deposit holders are affected and not the shareholders. The bank is never put in the dock when bad lending decisions are taken and NPAs increase

Assembly election 2017: Uttar Pradesh win is a mandate for PM Modi to push ahead big reforms

The biggest arena of action will be Uttar Pradesh itself, a state which is lagging in almost all development parameters

IIP growth bounces back in January, expands by 2.7%

The factory output had contracted by 0.1 percent in December on account of cash crunch following demonetisation of high value currency notes.

Post demonetisation notes in circulation drop to Rs 11.73 lakh crore

There were Rs 16.41 lakh crore worth currency notes in circulation as on March 31 last year, which has come down to Rs 11.73 lakh crore as on March 3, 2017, Minister of State for Finance Arjun Ram Meghwal said in a written reply in the Lok Sabha.

Auto sales move to recovery lane as note ban impact wears off

Indirect tax revenue grows 22% in Apr-Feb; direct tax up 10.7%

The total direct tax of Rs 6.17 lakh crore and indirect tax mop-up was Rs 7.72 lakh crore, led by robust collections in personal income tax and excise duty, respectively.

Jaitley says, 12 lakh new notes infused in the market by RBI

Jaitley said the cost of the currency note is the function of direct and indirect material and labour cost, which changes every year.

Car sales grow 4.9% in February, passenger vehicles up 9%

Vehicle sales across categories registered a marginal increase at 17,19,699 units from 17,03,736 in February 2016, it added

Another ATM in Delhi dispenses 'Children Bank of India' Rs 2,000 note

Police is trying to get details of the cash management company that was responsible for filling up bank notes in the ATM in question.

Indian inflation seen picking up in February for first time in 7 months on higher food prices

Wholesale price inflation is also expected to have picked up last month, to 5.90 percent from 5.25 percent in January

Insurance sector growing faster than Indian economy: Regulator

this growth was taking place amidst major disruption in the business environment brought about by technology, and the industry needed to keep up with these changes to sustain its growth.

Current account deficit will see 50% rise to $30 bn in FY18: ICRA

the pressure related to the financing of a larger current account deficit would abate with the resumption of non-resident Indian (NRI) deposits in 2017-18

Black money: Income tax dept urges people to make use of PMGKY to come clean

"Like fingerprints, your black money will lead us to you! The Income Tax Department has information about your undisclosed income and assets," it said in an advertisement in national dailies here.

Arun Jaitley to chair high-level meet on bank NPAs tomorrow

The meeting, which will also be attended by Financial Services Secretary Anjuly Chib Duggal, will discuss ways of resolution of stressed assets urgently

Reserve Bank to soon issue new Rs 10 notes, old ones will remain valid

The Reserve Bank of India will shortly issue Rs 10 denomination banknotes in the Mahatma Gandhi Series-2005 with inset letter 'L' in both the number panels

Demonetisation: Cash is back, punching holes in Modi’s 'cashless' plan, and it's not a surprise

After note ban spike in digital transactions was mostly due to lack of an alternative option. When cash returned, people went back to their old ways

Why Aadhaar card mandatory for rations, asks HC in notice

The public interest litigation filed by NGO Delhi Rozi Roti Adhikar Abhiyan sought quashing of the Centre's February 8 notification that made it mandatory for beneficiaries to possess Aadhaar cards for purchasing subsidised food grain under the National Food Security Act (NFSA).

Why Economic Survey 2017 doesn't have data tables – omission or oversight?

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