Economy News - Page 23

Indian Railways starts RO-RO service to carry trucks, unclog Delhi roads

The Railways RO-RO service aims to reduce carbon emission and congestion on the roads of the national capital region

Manpasand ties up with IRCTC's e-catering service Vadodara

Manpasand is empanelled with the IRCTC for direct selling to vendors approved by the latter.

GST Bill likely in Parliament next week; peak rate to be 40%, slabs intact for now

The GST Council, headed by Finance Minister Arun Jaitley and comprising representatives of all states, has agreed to keep the upper band of the rate in the law at 20 percent.

GDP based on statistical robustness, not personal expectations: Chief Statistician

He said the tone of disbelief was not only specific to the GDP numbers, but was also there for the third quarter corporate results.

Demonetisation impact: Auto, tractor companies incur Rs 8,000-cr revenue loss

Sales momentum in the automobile industry, which was on a high after a good festive season in September and October last year, came to a halt when the ban on Rs 500 and Rs 1,000 notes was announced in early November, according to Goenka

Chief Economic Advisor Arvind Subramanian wonders whether Air India should 'exist at all'

The point is competition has actually improved Air India's performance, Subramanian said

GDP data without demonetisation impact on informal sector lacks credibility

The GDP numbers capture economic activity in the formal sector, which constitutes just 10-15 percent of the economy while the informal sector accounts for an estimated 45-50 percent

Indian auto-backed securities to remain stable: Moody's Investors Service

Moody's said the performance of rated ABS is not expected to deteriorate beyond March 2017

Freight and fridge sales: Economists seek GDP clues amid data doubts

Some economists are perplexed by figures showing growth in consumer spending hitting a four-year high, even as sales of beverages, home appliances and vehicles fell.

GDP data intriguing, figures don't add up, say economists

Economists believe that the key reason behind such a high growth rate could be "a steep downward revision" of the year-ago base period

GDP data belies exaggerated claims of note ban impact: FM Arun Jaitley

With a 7 percent growth in gross domestic product (GDP) the worst fears for the economy have been put behind, Jaitley said

Q3 FY16 revision helped GDP, note ban impact at 1%: Analysts

"The steep downward revision of Q3 FY16 has in turn led to higher growth in Q3 FY17, thus masking the impact of demonetisation in the Q3 figures," the economic research department of country's largest lender SBI said in a note.

Demonetisation to cut tax avoidance, corruption; credit positive: Moody's

The US-based agency however projected growth to slow to 6.4 percent in the January-March quarter, from 7 percent in the previous three months.

India Inc pitches for reforms as economy grows 7% in Q3

It was feared that demonetisation affected in the middle of the third quarter (8 November, 2016) would have adverse bearing on various segments of the economy

Manufacturing PMI improves for 2nd straight month in February

The latest reading was much weaker than the long-run series average (54.2), largely reflecting sub-par growth for output and new business

Bank strike may hit transactions over Rs 1 lakh crore: Assocham

The all India bank strike might also impact deployment of gross bank credit worth up to Rs 1,600 crore

RBI deputy governor Viral Acharya can bring urgency to debate about NPAs

Acharya has put the issue back in the headlines.

Tax officials to send 50,000 letters to Prime Minister for successful GST

Each employee working under Central Board of Excise and Customs (CBEC) will write a letter to the Prime Minister

Oct-Dec GDP growth at 7% surprises all and sundry; no impact of demonetisation

The GDP number negates projections made by many private forecasters

POS industry wary of Aadhaar-enablement over cost, security issues

Apart from the increased security vulnerability to the person's biometrics, another deterrent to the digital mode would be the increased costs of the additional hardware.

India keen on riding 5G wave, norms in offing: Telecom Secy

Policy for use of high-frequency of spectrum bands is something that is getting attention from government.

World Bank closely working with Maharashtra government: Georgieva

Georgieva said the World Bank was also committed to help the state develop climate resilient agriculture practices in drought prone regions.

Oct-Dec GDP at 7%: Was demonetisation demonised by critics? Wait until Q4 numbers come

The biggest mystery is about the surge in private consumption.

GST from 1 July; states have come on board, council meet to okay drafts: Shaktikanta Das

The government plans to get the GST Council's approval on iGST (integrated GST), cGST (central GST) and sGST (state GST) drafts before the second half of the budget session of Parliament begins on 9 March.

Indian students help subsidise education costs for UK: Jaitley

Referring to a major drop in students coming to study at the UK universities over the last few years, he highlighted that there were other countries that were more welcoming.

India should cut corporate tax, go for inheritance levy: OECD

OECD said comprehensive tax reforms, especially the goods and services tax, "would lift all boats" and raise revenue helping the government effectively deal with high poverty rate.

3rd pay panel for CPSEs suggests min Rs 30,000 for executives

The recommendations of the Justice Satish Chandra committee, which are to come into effect from 1 January, 2017, will be placed before the Union Cabinet for approval.

GDP estimate for December quarter to be announced today; will the note ban impact weigh?

In the wake of the cash ban, a number of think-tanks and experts have lowered their projections for 2016-17 to even below 7.1 percent -- which was put out by the CSO in its advance estimates on January 6.

India takes issue of defaulters very seriously: Arun Jaitley

The Union Minister for Finance and Corporate Affairs is set to meet UK Foreign Secretary Boris Johnson later today, when the issue may come up.