Economy News - Page 22

Demonetisation sees billionaire club shrinking by 11; valuation woes hit Flipkart's Bansals

According to the Hurun Global Rich List India report, since demonetisation on 8 November, India lost 11 billionaires.

Panama papers case: SC asks Centre to file 6 reports of Multi-Agency Group

Solicitor General appearing for the Centre, told the court that the bench should first go through reports of the MAG and thereafter decide whether it could be shared with the petitioner

India has highest incidence of bribery in Asia Pacific: Transparency International Survey

Transparency International survey says 69% in India said they had to pay bribe to get public services. Japan had the lowest incidence of bribery in the region: 0.2%

GDP data: Why demonetisation continues to affect consumer sentiment despite rosy numbers

Analysts said that consumption is likely to slow down in March due to demonetisation and high base last year

International Women's day: SpiceJet to reserve seat for solo women passengers

According to the airline, the fourth row seats would be reserved for the airline's solo women passengers on all its flights, starting 8 March -- the International Women's day.

December quarter GDP growth surprising, says Fitch Ratings

The rating agency, however, projected a robust 7.1 percent growth for 2016-17 and 7.7 percent in the following two financial years (2017-18 and 2018-19).

Finance Bill to be passed before 31 March says Arun Jaitley

Jaitley also released the revised General Financial Rules.

Make it easy to lodge complaints to beat back bribery says research

In a new study, researchers at IISER-Kolkata tapped into science to understand how social interactions and the effects of punishment influence bribe-taking and bribe-giving.

Job creation vital for India to escape middle-income trap

regardless of the validity of GDP figures, jobs are being created in the economy. The government's efforts to generate employment opportunities in rural areas seem to have been paying dividends.

Will stamp duty on affordable housing be revoked? Centre asks states to abolish it

Venkaiah Naidu said the ministry has also recommended that the real estate sector should be taxed at a rate "which is revenue neutral and not at a higher tax rate"

Mandatory Aadhaar for welfare is fine but govt should address privacy, connectivity issues first

The Aadhaar project has its uses, certainly, but it is time for some stock-taking of its implementation, including concerns about its creep

GST rollout: Have a foolproof and robust system before implementation

Dry run is the key to success of any major initiative especially the one that is going to bring about a paradigm and drastic change.

Narendra Modi vs Congress: Why the growth debate must move beyond GDP numbers

A political debate on economic issues are indeed good but, it is time politicians went beyond merely the GDP numbers and looked at the core issues on the ground

Need for speed: India in talks with top global companies for high-speed trains

Railways is planning to save around Rs 41,000 crore through energy savings.

Ease of doing business: It is indeed better in India but country still among worst performers

India is slower than even its poorer Asian neighbours at resolving insolvencies that are common in market economies.

India's unemployment rate sees sharp decline: SBI research report

The report further noted that the decline was also explained by household demanded/allocated work under MGNREGA, which increased from 83 lakh households in October 2016 to 167 lakh households in February 2017.

Now companies to have single form for EPFO and state insurer ESIC

The government is planning to introduce this common registration form soon.

'Imports like electronics, machinery go against Make in India'

Electronics is one area where the country does not have adequate capacity and is highly import dependent.

Demonetisation: FinMin refuses to reveal whether Arun Jaitley was consulted before announcement

The Finance Ministry has taken refuge under the exemption clause of section 8(1)(a) of the Act to deny the information.

Aadhaar database fully safe and secure, no incident of misuse, says UIDAI

UIDAI has decided to have registered devices for capturing biometrics data and such biometrics will be encrypted at the point of capture itself.

Railways to go shopping abroad for train wheel sensors to ensure safer travels

The system, operational in Western countries, would enable predictive maintenance and reduction in sudden catastrophic failures in coach suspension, roller bearings and track condition.

Chinese envoy invites Mamata to explore business possibilities

China to explore Bengal-China business possibilities in manufacturing,

Services PMI returns to growth after 3 months of contraction

After slipping to a near three-year low last November, signalling the first monthly drop in output since June 2015, the headline index edged above the 50.0 mark, that separates expansion from contraction.

World Bank CEO’s pat for demonetisation is a shot in the arm for Modi; it also exposes unreliability of economists

What bothers one is the absolute authority with which one makes assertions, that too involving precise numbers.

Bitcoin: How long can RBI ignore the elephant in the room?

The world over, regulators are working out carefully-crafted regulations to foster Bitcoin growth.

Air India revival: Lenders right in rejecting equity for debt, govt clueless about next move

It is quite clear that those tasked with running Air India don’t seem to have a clue how to go about resurrecting it

Q3 GDP: Why flood of bank deposits post demonetisation never aided growth

The Ambit report raises doubts of the claim by finance minister Arun Jaitley that surplus liquidity in the banking system post-demonetisation will lower lending rates, thus increase lending activity contributing to higher growth

Eight key announcements Suresh Prabhu made in 'mini railway budget' for FY18

From Aadhaar-based ticketing to an integrated travel app, there are a slew of proposals for consumers too

Benami Act violators to face double whammy of legal action

Benami transactions would invite Rigorous Imprisonment (RI) of up to 7 years and such violators would also stand to be charged under the normal I-T Act.

Nasscom sees FY18 industry growth at 8-10% but expects clearer picture in 3 months

Nasscom had revised down its fiscal 2017 revenue growth target to 8-10 percent from an initial 10-12 percent as the headwinds from the US, which is the single largest revenue source for the industry, started emerging following the election of Donald Trump.