Economy News - Page 9

Build strong agri-linkages: govt to private firms

The Union agriculture secretary Bahuguna recommended private companies to roll out a model in states and demonstrate its efficacy.

Entrepreneurship will improve credit-deposit ratio in NE: RBI

The Reserve Bank of India said low credit-deposit ratio in the Northeast is due to the lack of entrepreneurship among people of the region even as it recommends alternate banking models to push for financial inclusion.

Will take steps to bridge trade deficit with China: Sharma

Worried over widening trade deficit with China, India said it will take steps to bridge the imbalance with the neighbouring country.

Maoists push farmers in Chhattisgarh to grow marijuana

Chhattisgarh's restive Bastar region is fast turning into a hotspot for growing marijuana with Maoist guerrillas making farmers switch to the cash crop, say police officials.

Goa to implement IT system to avoid illegal mining

Plagued with rampant illegal mining, the Goa government has decided to implement an information technology-based system to prevent its valuable resource being exported illegally and evading royalty.

China to help ease decay of North Korea economy

China on Tuesday promised to help major firms invest in impoverished neighbour North Korea, signalling strong support for the North's untried young leader just as he is believed to be planning reforms to his country's broken economy.

Govt asks PSU banks to ensure one account per family

Under Swabhimaan scheme of the government, over 3.25 crore bank accounts in rural areas were opened.

RBI sells $2.2 bn in April-June quarter

The central bank also purchased $778 million dollars in May and $650 in June, RBI data said.<br /><br />

Offical GAAR report only by Sep, says panel chief

Introduction of GAAR, proposed in the 2012-13 Budget to check tax evasion, had triggered strong opposition by foreign investors following which its implementation was postponed

Monsoon delicacy Hilsa selling for more than Rs 1,000 in Bengal

In city markets, the prices of the Hilsa have been ranging between Rs 1,000-Rs 1,500 depending upon the size and quality of the fish

Domestic construction sector remains stable: Fitch

Fitch however, opined the medium-term outlook could be affected by ongoing challenges in execution, coupled with high interest rates and lacklustre equity markets.

Arhar, moong support price hiked up to Rs 900/qtl

The support price of arhar and moong were not announced earlier as the CCEA had last month deferred the decision.

RBI committee to strengthen rural credit structure

The Reserve Bank constituted a committee to suggest ways to strengthen the rural cooperative credit structure in the country.

What reforms? 10% of poorest Indians live on less than Rs 17 a day

As per the NSSO 68th round of survey for the period of July 2011 to June 2012, The poorest 10 percent of the urban population had an average MPCE of Rs 702.26.

Coffee exports down by 10% in Apr-June

Coffee exports declined by 10 percent to 1.29 lakh tonnes inthe first 4 months of the current financial year.

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