Economy News - Page 2

Economic Survey: India’s development depends on both ‘Make in India’ and ‘Skilling India’

Calling 'Make in India' a flagship initiative, The Economic Survey 2014-2015 highlights that there’s the need for balance between 'Make in India' and 'Skilling India'.

Removal of MAT on SEZs tops Nasscom's Budget 2012 wishlist

<br /><br /> In the last Union Budget, government imposed a minimum alternate tax of 18.5 percent on the book profits of SEZs developers and units.

Eporters unlikely to get tax sops in Budget 2013

Exporters are demanding measures like adequate availability of credit at affordable rates, exemption from service tax on some services like branding and marketing of a product and a planned scheme for marketing of items.

Buget 2013: Analysts expect govt borrowing to be below Rs 5 lakh cr

Analysts have put faith in Finance Minister P. Chidambaram's fiscal discipline, with budget projections factoring in a 4.8 percent deficit, similar to the official forecast.

India Ratings revises realty sector outlook to 'stable'

India Ratings today revised its outlook for the country's real estate sector for 2013 to 'stable' from 'negative' as the Fitch group company sees signs of improvement in margin and liquidity of developers.<br /><br />

Trai to start public consultation for free roaming

Telecom regulator Trai today said it will soon begin a public consultation process for implementation of free telecom roaming in the country.

Falling rupee helps NRIs in Middle East to buy properties in India

The decline in value of rupee over the last one year is luring NRIs living in the UAE to buy property in India even if the price stretched up to Rs 1 crore or more, according to a survey.

UK recession worse than thought before

Britain is suffering a far deeper recession than thought, official figures showed on Wednesday.

PM for Planning Commission panel on NE development

Prime Minister Manmohan Singh directed the Planning Commission to constitute a Monitoring Committee with representatives from the northeast states to improve coordination among central ministries.<br /><br />

Aviation firm CFO arrested for Rs 1 cr service tax evasion

An evasion of service tax of Rs 50 lakh and above has now been made a cognizable offence after the passage of 2013-14 Finance Bill on 10 May last year.

India's forex reserves surge $179 mn to $293 bn

Foreign currency assets (FCAs), which form a major part of the overall reserves, swelled by $190.3 million to $267.14 billion for the week under review, RBI said.

Iran looking at exporting natural gas to India via deep sea

On exporting liquefied natural gas to India, Ansari stressed the need for acquiring LNG technology in order to win a share in export markets.

Centre to clear Rs 771 cr worth road projects for Uttarakhand

The maximum number of 27 road projects will be taken up in Tehri, followed by 24 in Dehradun, 21 each in Chamoli and Pauri and 18 in Haridwar.

Agriculture ministry mulls cabinet note to lift pulses export ban

Export of pulses, except for kabuli chana, was initially prohibited for six months in 2006.

Cabinet nod to convert leases to freehold in Kandla Port township

The proposal would allow KPT to focus on its core business and would obviate the need to deploy human resources for collecting ground rent.

Centre admits 'something went wrong' in coal block allocation

The Centre on Thursday admitted before the Supreme Court that something went wrong with the coal blocks allocation and that it could have been done in a more refined manner.

Bank deposits grow 16%, credit goes up

The RBI's estimate of the banking system's credit growth for the current fiscal is 15 percent, while for deposits it is 14 percent.

Karnataka mulls seeking Rs 1,000 cr Central fund for irrigation projects

In the current year, the Centre allocated Rs 200 crore for implementing the project, the state's minor irrigation minister said, adding that it has also assured to release another Rs 250 crore shortly.

RBI panel wants unified agency to redress all financial plaints

The RBI panel also called for formation of a state finance regulatory commission by merging all existing state- level watchdogs.

Akhilesh encourages investments from Canada

The chief minister said that Samajwadi Party government had created employment opportunities and improved arrangements for training youths.

Barclays sees gold struggling in 2014

"Slower-than-expected tapering, weaker equity markets and a softer dollar could help to revive gold in the short term," the bank said.<br /><br />

Cabinet approves Power System Development Fund

The fund will also be utilised towards installation of shunt capacitors, series compensators and other reactive energy generators for improvement of voltage profile in the grid. <br /><br />

No increase in LPG price effected: Chandy

Moily said the Centre had only decided to implement the direct transfer of the subsidy component on the domestic LPG to bank accounts of the beneficiaries.

CCI may take up three hydro power projects at next meet

The 700 MW Tato hydro power project in Arunchal Pradesh is being set up by Tato Hydro Power Private Ltd, a subsidiary of Reliance Power.

Service tax offices to remain open on 28-29 Dec

Finance Minister P Chidambaram has been meeting industry bodies to encourage assessees to take advantage of the tax amnesty scheme to avoid punishment.

Centre clears Rs 1,912 cr of road projects in Bihar, Gujarat

The six-laning of the Vadodra-Surat section of NH-8 includes the construction of a new four-lane bridge across the Narmada river and two eight-lane flyovers, according to a separate statement.

Centre mulls hike in urea fixed cost, subsidy may rise

According to the sources, fertiliser ministry is likely to propose an increase of Rs 350 per tonne in cost of production of urea as against the industry's demand for a hike of Rs 700 per tonne.

Pakistan receives $554 mn as part of IMF bailout loan

The bank said the release of the second tranche of the IMF loan will also help bolster its declining foreign exchange reserves.

No proposal for revision of train fares: Kharge

Kharge said the passenger fares will be adjusted according to the cost of the fuel every six months, but for now there is no proposal in this regard.