Economy News - Page 5

GST: Over one lakh immediate new employment opportunities expected

GST is expected to create significant job opportunities as the businesses will need to hire professionals for dedicated GST management, upgrade and reconciliations.

New NPA resolution process weakens our banks just as farm loan waivers do; here's why

By creating a culture of inertia when it comes to debt-servicing, the message sent out is that at the end of the day there will be support coming from the government in some form to ensure that the system does not collapse

Tackling NPAs: Banks to kick off insolvency of Bhushan Steel, Essar Steel, Electrosteel; total loan Rs 92,000 cr

These three borrowers are among the 12 accounts identified by the Reserve Bank for immediate reference to National Company Law Tribunal

GST Council relaxes return filing rules for July-August, rollout confirmed from 1 July

The GST, the biggest tax reform in India's 70-year history, will require firms to file three online returns each month.

Daily petrol, diesel price revision: Dealers withdraw strike after govt agrees to rate change at 6 am

IOC, the largest fuel retailer, said it will provide information on daily price revisions through various means, including LED screens at petrol pumps, toll-free number, social media posts, mobile apps as well as through SMS.

Govt bailout for telecom may not be a smart idea; M&As signal better days not too far away

A tough call for the government. If it ignores what the incumbents are saying, then the banking sector stress worsens. If it agrees to all the demands of telcos, then again it suffers a significant revenue loss

GST rollout: Prices of many essential drugs to rise up to 2.29%; insulin to cost less

The government has fixed GST rate of 12 percent on most of the essential drugs as against the current tax incidence of around 9 percent

Farm loan waivers: How smart villages, data science can help govt manage agri debt, even beat gamesters

Urban armchair pundits talking only about fiscal discipline often lose sight of the fact that farmers need a cushion for their risks that can come from either excess or little of rains or crop.

GST rollout: Rumours of delay false, Hasmukh Adhia tweets; in reply many express worries over readiness

The confusion among the business community is palpable from the replies to Hasmukha Adhia

Loan waiver hopes prompt farmers to stop repayment across states; lenders' balance sheets to worsen further: Report

With farm loan waiver becoming a key political plank to win elections, farmers in states that are going for elections this year are hopeful that they also will get the benefit

Aadhaar must to get government co-contribution for availing Atal Pension Yojana

Atal Pension Yojana, the government's flagship social security scheme, has more than 54 lakh subscribers with an asset base of more than Rs 2,200 crore.

New textile policy may be finalised in three months time; aims to achieve $300 bn exports by 2024-25

The Centre is organising Textile India Conclave and Exhibition in Gujarat from 30 June to 2 July, for the Indian textile and handicraft sector which will showcase the entire range of textile products from 'fibre to fashion'.

IIP at 3.1%, CPI down to 2.18%: Why the data is egg on face of RBI, rate panel

A closer look at the January-March GDP numbers show that except for government spending and growth in agriculture (thanks to good rains last year), no major segments showed any promise

IIP slows to 3.1%, CPI inflation falls to 2.2%: India Inc's clamour for rate cut grows

Retail, or consumer price indexed (CPI), inflation during May also fell to 2.18 percent, as compared with 5.76 percent in the same month of last year, pulled down by sharp fall in food prices.

Industrial production growth slows to 3.1% in Apr; inflation eases to record low of 2.18% in May

The factory output measured in terms of the index of industrial production (IIP) had expanded by 6.5 percent in April last year

SpiceJet set to launch flights under UDAN scheme next month

SpiceJet said it is the only airline which hasn't sought subsidy or viability gap funding under this scheme.

'18% GST on sub-Rs 100 movie tickets won't help industry': Multiplex operators

According to Multiplex Association of India President Deepak Asher, under the current existing system, rate of tax on cinema exhibition in India as a whole is around 19.5 percent

GST rollout: Centre proposes to defer e-way bill citing lack of software

Industry however has expressed concerns over this saying that the Rs 50,000 limit was too low and that the timeline for completion of transport operation was "impractical and removed from reality".

Telangana's gross state domestic product up over 10% to Rs 5.11 lakh crore in FY17

Telangana state industrial policy launched in June 2015 has generated Rs 73,000 crore in investments, and created 2.46 lakh jobs in the process, said state Industries and Commerce Minister K T Rama Rao

Maharashtra farm loan waiver: Arun Jaitley insists states writing off agri debt will have to find own funds

Earlier after Uttar Pradesh announced Rs 36,000 crore waiver, the finance minister had made it clear that states wouldn't get my financial assistance from Centre on this count.

In Make in India push, France's Alstom to make 800 'super high-power' locomotives locally

Alstom providing coaches, equipments and services to Delhi, Chennai, Bengaluru, Jaipur and Kochi Metro rail

Maharashtra, Madhya Pradesh farmer protest due to impoverishment of agri sector, say experts

Farmers are struggling hard to meet their input expenses due to a drop in prices of agriculture produce, which agricultural experts attribute to the rising cost of farming, the haphazard use of fertlisers, and failed government policies over the years.

Note ban may continue to slow down economy, impact business, cautions SBI

The effects of the demonetisation decision are uncertain, which may adversely affect the bank’s business, results of operations and financial condition, the bank said in the Preliminary Placement Document to investors while flagging the 'risk factors'.

Madhya Pradesh farmer protest: Fulfill demands, else agitation will spread, warns Rashtriya Kisan Mahasabha

In the last three years, the prime minister has not even given time to farmer's organisations to discuss the issue, said RKM national convenor and RKMS chief Shivkumar Sharma

Aadhaar-PAN linkage: No conflict between Aadhaar Act and IT Act, rules SC; relief to govt

The SC acknowledged the fact that invalidating PAN cards of citizens who have not linked Aadhaar number to PAN by the stipulated date (ie, 1 July, 2017) will have severe consequences.

GST Council to meet on 11 June to review rates, amend rules

This will be the 16th meeting of the Council, chaired by FM Arun Jaitley and comprising state counterparts, since it was set up in September 2016.

GST Council forms 18 sectoral working groups to sort out industry worries

The other sectors which would be looked into by the group include IT and ITes, textiles, gems and jewellery, food processing, e-commerce, oil and gas, pharma and MSME

Not cancelled unused credit lines to debt-laden telecom sector: SBI

The sector is facing the squeeze on revenues and profitability in the wake of cut-throat competition following entry of Reliance Jio

Fast track system to resolve Indian cos' issues in Germany

The issue was discussed recently at a meeting in Berlin, during the visit of Prime Minister Narendra Modi.

Corporate debt, bank NPAs cast cloud over Narendra Modi's economic revival plans

The bad loans have forced banks to curb overall lending growth and cut their credit exposure to industry, while the share of capital investments in India's GDP has dropped to below 30 percent from more than 38 percent a decade ago.