Economy News - Page 4

Panama papers: India discusses tax info exchange with global joint task force to plug evasion

In the past six months, more than 570 requests for information have been sent to 32 countries.

Air India may offer VRS to 15,000 staff ahead of sale next year, puts fleet expansion on hold

The state-owned airline has also put fleet expansion on hold, scrapping a proposal to lease eight Boeing 787 wide-body aircraft

SBI Life files IPO papers with Sebi, likely to raise Rs 6,500-7,000 cr

The public issue by the private life insurer involves its promoters offloading up to 12 crore equity shares of face value of Rs 10 each through offer of sale route, SBI Life said

Demonetisation: Govt sticks to its guns, tells SC it cannot open fresh window to exchange banned notes

The apex court is hearing a batch of petitions, including one filed by Sudha Mishra seeking a direction to authorities to allow her to deposit demonetised notes as she could not do so during the period specified by the Centre and the RBI.

GST Council to meet today to take stock of implementation of indirect tax

This will be the first meeting of the Council since the launch of the Goods and Services Tax (GST) on July 1 and the 19th since it was set up in September last year.

China second-quarter GDP growth beats expectations on strong factory output

On a quarterly basis, growth picked up to 1.7 percent from 1.3 percent in the first quarter, in line with expectations.

Businesses can upload sale, purchase invoices on GSTN portal from 24 July

Generating invoices for dealings above Rs 200 and keeping invoice records in serial number even if maintained manually, are pre-requisites for claiming input tax credit under the GST regime.

NPA battle: RBI likely to start insolvency proceedings vs Rs 8 lakh cr bad loans by March 2019

It is no secret that NPAs are a big drain on the financial health of banks especially public sector banks (PSBs).

Export up 4.39% in June; trade deficit widens to $12.96 billion

Import rose by 19 percent to US $36.52 billion in June from US $30.68 billion in the year-ago month due to rise in inward shipments of oil and gold.

June inflation slowest in more than five years, builds pressure on RBI to cut rates

Falling food prices present a worry for the government because of the hit on millions of farm households.

Urjit Patel on counting banned notes: Staff working round the clock but process still on

Members of Parliament Standing Committee on Finance, who questioned Urjit Patel, are dissatisfied that he could not yet give a conclusive figure.

As monsoon takes a break, summer crop yields likely to fall; farmer woes may heighten

Rains are now 1 percent below normal, with the deficit as high as 35 percent in some regions, weather department data shows

GST: Congress to gherao Parliament on 18 July, says tax regime will affect traders, common people

Delhi Pradesh Congress Committee (DPCC) president Ajay Maken made the announcement at a party meeting on Tuesday.

GST impact: Honda Cars, Ford India, TVS Motor, Suzuki Motorcycle slash prices

Automakers today announced price cuts ranging from Rs 350 in case of two-wheelers to Rs 3 lakh on Ford's SUV Endeavour

GST launched: A new tax era begins with pomp, but how prepared are we to take the big leap?

The passage of GST will show the world that India has finally broken out of the reforms jinx and is ready for its next round of big reforms.

GST launch: Tax rate on construction sector hiked to 18% from 12%

Construction of complex, building, civil structure, including a complex or building intended for sale to a buyer, wholly or partly, will attract a GST rate of 18 percent

GST launch: Ratan Tata, Lata Mangeshkar to former RBI chiefs (except Raghuram Rajan) to attend event

The launch event will start at 11 pm on 30 June and extend into the midnight, coinciding with the rollout of the Goods and Services Tax regime

GST explainer part-II: Is India ready? How will your household budget get affected?

Can you complain to the anti-profiteering authority if the neighbourhood store is not reducing prices? You can but probe will be on the manufacturer

Forget 7th Pay Commission allowance, decision on Air India sale is the real good news; here's why

Air India stake sale approval is a great news for the economy, provided the government follows up with strong actions before it enters its last year

7th Pay Commission: Allowances bonanza for govt staff from 1 July explained in 20 points

For JCOs and Other Ranks, the hardship allowance for Siachen will be Rs 30,000 compared to the 7th Pay Commission's recommendation of Rs 21,000. The JCOs and ORs were getting Rs 14,000 per month as hardship allowance for Siachen at present

GST rollout: New indirect tax regime brings in a mixed bag of gifts for BFSI sector

GST on leasing harmonises input across all levels to make the end product cost effective to the consumer

Seventh Pay Commission: Will govt staff get allowances from July? Cabinet decision likely today

If the Pay Commission recommendations on allowances are implemented fully, then as per estimates the cost to the exchequer will be Rs 29,300 crore

GST explainer part-1: What's the tax all about, how does anti-profiteering work and other basic questions answered

This is the first of a three-part series, helping you decode the whats, whys and hows of GST

Provisioning for 12 NPAs: SBI's Arundhati Bhattacharya rules out huge dent on bottom lines

These 12 large accounts had become NPAs by end-March 2016 and Crisil estimates show the banks had already provisioned 40 percent for these NPAs worth Rs 2 trillion or about Rs 80,000 crore.

Without GST, business in J&K may be hit; industry body says onus on politicians for any short supply

The Jammu Chamber of Commerce and Industries president also advised all the politicians whether in mainstream or in separatist politics, not to confuse the situation if they cannot help the situation otherwise.

GST from 1 July: Natural gas may be included in new tax regime, likely to benefit ONGC

Currently, crude oil, petrol, diesel, jet fuel or aviation turbine fuel (ATF) and natural gas are not included in the new indirect tax structure, which is set to kick in from 1 July

Narendra Modi-Donald Trump meet: India scores on terror, but trade game tilts in US favour

Any artificial balancing of trade deficits by the US that challenges India's competitive advantage in IT goes against free trade. Advantage 'America First' over 'Make in India'?

GST from 1 July: Traders want ombudsman for redressal of grievances under new regime

CAIT, the traders body, has demanded that the government declare first nine months post GST implementation up to 31 March as an interim period,

As bad loans pile up at banks, finance ministry seeks to extend RBI deadline on Basel III norms

As per the norms, banks have to maintain a minimum common equity ratio of 8 percent and total capital ratio of 11.5 percent by March 2019.

Banks won't compensate you for burglary or theft of your valuables in lockers, reveals RTI query

The unanimous reason given by 19 banks is that "the relationship they have with customers with regard to lockers is that of lessee (landlord) and lessor (tenant)".