Boost for Modi government! RBI announces Rs 28,000 crore transfer as interim dividend

Reserve Bank of India (RBI) on Monday announced Rs 28,000 crore transfer as surplus to the Modi government.
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RBI bonanza for government! Shaktikanta Das to soon take call on Rs 28,000 crore dividend transfer

India’s central bank will consider an early transfer of a part of its profit to the government, which is desperate for cash to fund populist pledges ahead of a national election.

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Theory of job-loss growth is factually incorrect, says Rajeev Chandrasekhar; here is why

Rajeev Chandraskehar said: "It's election season so expectedly some people will use survey data in a context that suits them which is the case with Dr Singh here."

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PM-Kisan scheme to drastically cut farmers’ vulnerability: CEA Krishnamurthy Subramanian

CEA Krishnamurthy Subramanian says the investment cycle is picking up, as many firms have hit capacity utilisation of 80%, which is when they usually start fresh investment.

PM-Kisan scheme to drastically cut farmers’ vulnerability: CEA Krishnamurthy Subramanian

Cement, fruit shipments from Pakistan among 10 most hit imports after duty hike

Fresh fruits, cement and leather are among the 10 main imported items from Pakistan that would take a major hit following the imposition of 200 per cent customs duty by India on products from the neig

Economy News

Government considers U-turn on auctioning oil blocks

Two years after the government shifted to revenue sharing contracts for oil and gas block auctions, a high-level panel has suggested reverting back to older system of awarding areas in most basins bas

Economy News

Revenue department to set up committee against fake e-way bills, invoices

Touted as an anti-evasion measure, the e-way bill system was rolled out on April 1, 2018, for moving goods worth over Rs 50,000 from one state to another.

Economy News

India can play key role in Nepal’s bid to expand global trade, says top UN official Fekita ‘Utoikamanou

India is part of South-South cooperation which is playing an increasingly important role in addressing the persistent development challenges of vulnerable groups of countries.

Economy News

Government’s disinvestment proceeds touch Rs 53,558 crore in current fiscal year

Last week, as much as Rs 10,000 crore came in from Bharat-22 ETF and, another Rs 5,379 crore from the sale of Specified Undertaking of Unit Trust of India (SUUTI) stake in Axis Bank.

Economy News

PM-KISAN will improve farmers’ credit worthiness: CEA

The Pradhan Mantri Kisan Samman Nidhi Yojana (PM-KISAN) was announced in the Interim Budget 2019-20, under which Rs 6,000 will be given in three instalments to 12 crore small and marginal farmers hold

Economy News

RBI board to decide on interim dividend in meeting with Arun Jaitley on Monday

The government expects Rs 28,000 crore from the RBI as interim dividend for 2018-19 based on the financial position of the central bank. Last financial year, the RBI had paid an interim dividend of Rs

Economy News

Modi govt may consider approval of Rs 5,500-cr FAME-II scheme this month

The scheme in its second phase will offer a bouquet of incentives, such as exemption from paying road tax, registration fee and parking charges for various categories of electric and strong hybrid veh

Economy News

Liquidity issues, Aadhaar ban roil NBFCs, micro-credit plunge 15 pc in Q3

Disbursements stood at Rs 41,840 crore for the third quarter of the current fiscal year, down from Rs 49,450 crore in the preceding three months, show the data from the credit information company C

Economy News

Real estate crisis: Indian lenders sleepwalking to trouble on builder debt

The pressure to finish comes from the markets: Of the $14.6 billion the builder has to pay creditors between now and 2021, as much as 86 percent is return of principal.

Economy News

US President Donald Trump receives update on China trade talks

Both the United States and China reported progress in five days of negotiations in Beijing this week.

Economy News

Pulwama effect: India hikes customs duty on all goods imported from Pakistan to 200 per cent

Among the main goods that India imports from Pakistan are fresh fruits, cement, petroleum products, bulk minerals and ores and finished leather.

Economy News

India’s exports grow 3.74% in January; trade deficit widens to $14.73 billion

According to data from the commerce ministry, exports during the month increased to USD 26.36 billion, compared with USD 25.41 billion in January 2018. Exports growth remained almost flat in November

Economy News

US, Canada move WTO against India on ‘under-reporting’ of MSP for five pulses

The two countries have taken issue with the quantity of production used in market price support calculations, the lack of information necessary to assess WTO compliance, problems with currency convers

Economy News

Export growth muted, deficit up

Merchandise exports rose 3.7% to $26.36 billion in January despite a weak rupee, up from 0.3% in December but lower than 9.1% growth achieved so far this fiscal

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Pulwama terror attack: India revokes most favoured nation status accorded to Pakistan

A day after the deadliest terror attack in Kashmir killed over 40 CRPF troops, India on Friday stripped Pakistan of the most favoured nation (MFN) status in trade it had unilaterally granted in 1996.

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Not enough credit, late GST refunds a concern for exporters: Industry tells govt

The persistent decline in bank lending for exporters, delay in refund of input tax credit and the fear of a withdrawal of duty-free export benefits by the US under the so-called GSP regime dominated t

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CBDT issues guidelines for defending cases at CIT (appeals)

Appeals would be filed in high courts if the tax amount involved in litigation is Rs 50 lakh, up from Rs 20 lakh at present.

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India’s oil imports from Iran plunged 45% in January

India's oil imports from Iran fell by 45% in January to 270,500 barrels per day oil (bpd), ship tracking data reviewed by Reuters showed, below the estimated 300,000 bpd for the month as some cargoes

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Greater Market Access is likely to be announced at the end of talks between PM Modi and Argentina President Merci

Bilateral cooperation spans wide range of areas including nuclear, space, economic and commercial, agriculture, science and technology, culture and tourism.

Economy News
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