Economy News - Page 17

Govt extends e-filing date for income tax returns to 31 Aug

The government today extended the last date for e-filing of income tax returns till 31 August after power failure disrupted normal life in many parts of the country.

State govt to infuse Rs 76 crore for e-governance in Uttarakhand

The state would also have its own data centre by the end of this year and the initial proceedings in this regard have been completed with the help of software firm Wipro, said an official release.

India keen to study tech deployed by Israel border security

India, which wants to beef up its border security to prevent recurrence of Mumbai-type attacks, has evinced interest in studying various technologies deployed by Israel to secure its frontiers.

India, Indonesia confident on $25 bn trade by 2015

India and Indonesia held talks to map the way forward for deepening strategic ties and trade.

Delhi metro completes first tunnel construction at Janpath station

The tunnelling was part of the construction of the 3 km link between Central Secretariat and Mandi House. The station is expected to reduce pressure on Rajiv Chowk, which handles more than 5 lakh people a day.

India story is not over, Nirupama Rao assures American firms

Indian Ambassador Nirupama Rao has assured American businees that there is no question of the tide of economic reform in India being reversed.

India invites South Africa to invest in renewable energy development

India has invited South Africa to invest in its renewable energy sector, and take advantage of skills transfer from the firms there.

Hah! Subbarao cracks joke on cash reserve ratio

RBI Governor D Subbarao on Tuesday "announced" the formation of a committee with K C Chakrabarty and Pratip Chaudhuri to look into the issue of Cash Reserve Ratio (CRR) but only to retract shortly later on the "joke".

Traders to observe 'Quit FDI Day' on 9 August

Traders across the country will observe the Quit India Movement Day as 'Quit FDI Day' on 9 August, to protest against FDI in multi-brand retail, Confederation of All India Traders said.

Government to extend panel on illegal mining

The government has extended till 16 July, 2013, the tenure of the Justice M B Shah Commission of Inquiry set up to enquire into cases of illegal mining, it was announced Friday.<br /><br />

RBI to issue Rs 10 and Rs 50 bank notes with rupee symbol

RBI said on Thursday that Rs.10 and Rs.50 denomination banknotes incorporating the rupee symbol will be issued soon.

Indian firms making solar facilities in Rajasthan get US loans

The Export-Import Bank of US (Ex-Im Bank) has authorised loans totalling $57.3 million to two Indian firms to finance the export of American solar panels and ancillary services to India.

Gopalan likely to get 2-month extension as DEA Secy till Sept

Gopalan, a 1976 batch IAS officer of the Tamil Nadu cadre, who was to retire on April 30, had earlier got a three-month extension till July 31.

New green revolution? Record food production in 2011-12

Apart from favourable weather, the massive growth in foodgrains production in 2011-12 was on the back of implementation of several schemes including 'Bringing Green Revolution in Eastern region' in the 11th Five year plan

Govt committee to look into pensions of ex-servicemen

The government has formed a committee under the Cabinet Secretary to look into pay-related issues of the armed forces and the long-pending demand of 'One Rank-One Pension' of the ex-servicemen.

RBI asks banks to follow guidelines for MSME credit

RBI has asked banks and financial institutions to follow the "guidelines in letter and spirit" for providing credit to the MSME sector.

One in every 3 Indians leave jobs in 2 years

Commitment levels among employees in India have declined sharply in comparison to the global average, as about 33 percent of them plan to leave their jobs in less than two years, says a survey.

Bengal urges financial institutions to set up offices in Kolkata

The Urban Development Ministry and the West Bengal government today urged leading financial institutions to set up their offices in the newly planned International Financial Hub in New Town, Kolkata.

Factory output in May likely to have risen to 1.8%: Survey

A poll of economists predicts that India's industrial output picked up to 1.8 percent from 0.1 percent in April signalling that the overall demand environment is still weak.

How Indo-Bangla border led to fall in pineapple cultivation in Tripura

The erection of barbed wire fencing in Tripura along the 865-km-long border with Bangladesh has enhanced security, but has led to the decline of age-old pineapple cultivation in the state.

India firms raised $3.37 bn from overseas markets in May

<br /><br /> Man Industries and Surana Power raised $55 million each for redemption of FCCBs and import of capital goods.

Crude below $100 as stimulus fails to allay investor concerns

Brent had slipped 79 cents to $99.91 per barrel by 11:15 this morning, while U.S. crude shed 89 cents to $86.33 a barrel, though both remained on track for a second straight week of gains.

Rupee weakens to 55.4, ECB fails to lift investor spirit

The Indian rupee was lower in opening trade on Friday, in line with the weak euro.

Gopalan doesn't give time frame on retail FDI

Economic Affairs Secretary R Gopalan has said that the Government will take a decision on FDI when it feels that the time is right and did not commit to any timeline.

Exploration of 54 allocated mines to begin in two months

The detailed exploration of 54 coal mines to be allocated will begin in the next two months. A maximum of 16 have been earmarked for the power sector, 12 for the steel sector have been earmarked.

Foreign client complaints rise at Swiss banks: Ombudsman

Swiss banks recorded an increase in the number of complaints from their foreign customers in 2011, although the number of their total customer complaints declined, Switzerland's banking ombudsman said today.

States to raise Rs 40,000 cr from market this quarter: RBI

RBI has said that the state governments will be raising Rs 36,000-40,000 crore from market for the July-September quarter