Economy

GST payment: Exporters favour online system of IGST refund

In terms of volume of exports, the split between exporters using IGST route to ITC mechanism was 15% and 85% at the start of GST regime.

Centre issues notice to 300 firms not complying with CSR norm

The Ministry of Corporate Affairs has issued preliminary notices to nearly 300 companies for not complying with CSR spending requirement under the companies law for 2015-16, a senior government offici

PMI survey: October services sector activity sees quickest growth since July

The services PMI was in the expansion territory for the fifth straight month. In PMI parlance, a print above 50 means expansion, while a score below that denotes contraction.

Looming liquidity stress: MCA flags potential risks in HFCs

Amid fresh rumours that DHFL could default on payment pledge, the government has stepped up its monitoring of the NBFC segment.

US embargo on Cuba hit tech, drug transfer from India: Report

The report noted that not only has the embargo against Cuba remained in force, it has been tightened, as demonstrated by examples of the effects of the policy on Cuban entities and on third parties.

Blood money? 10 Indian workers died everyday in the Gulf in last six years; 117 deaths for every billion dollar remitted

Nearly 10 workers from India died everyday in the Gulf countries during the last six years, which translates to 117 deaths for every billion dollar remitted to the country from there, a voluntary grou

China’s imports of goods, services to exceed USD 40 trillion in 15 years, says President Xi Jinping

China's imported goods and services are set to exceed USD 40 trillion in the next 15 years, President Xi Jinping pledged Monday as he kicked off a major import fair in which India and 80 other countri

High gold prices likely to weigh on Dhanteras sales

Established brands see rise in sales but unorganised players, still holding a dominant market share, expect subdued sales.

HCL Foundation organises Bal Ganga Mela

HCL Foundation joined hands with the National Mission for Clean Ganga (NMCG) and German development agency GIZ to organise a 'Bal Ganga Mela’ at its campus in Noida on Sunday to raise awareness abou

Free trade is good economics as well as politics: Arvind Panagariya

The removal of various restrictions on trade lifted India’s exports six times in nine years through 2011-12 to over $300 billion, eminent economist and former vice-chairman of Niti Aayog, Arvind Pan

Govt vs Reserve Bank: Why differences may surface again

Despite a temporary easing in tension between the finance ministry and the central bank, differences could surface again when the Reserve Bank Of India's board meets next on November 19, as the minist

Cabinet clears ordinance to amend Companies Act

The Union cabinet on Thursday gave its approval for promulgation of an ordinance to bring amendments to the Companies Act 2013.

A clutch of states like Tamil Nadu and Madhya Pradesh to follow Maharashtra in APMC reform

After Uttar Pradesh amended the APMC Act in conformity with the model draft law framed by the Centre in April 2017, the Maharashtra government, last week, promulgated an ordinance allowing the traders

After tepid response, SECI relaxes norms to lure bidders for 10 GW solar auctions

Through the scheme, as much as 3 GW of cumulative annual solar manufacturing units are seen to be set up over three years, resulting in 10 GW of new generation capacities.

Why Australia will struggle to escape the next global economic slowdown

The nation’s vulnerability to increasing external risks was the overriding concern of a panel discussion held Thursday between Heather Ridout, chair of Australia’s largest pension fund

Karnataka High Court fines service tax commissioner for contravening tribunal order

In what could be a deterrent to tax officials who harass assessees, the Karnataka High Court earlier this month slapped a Bengaluru-based service tax commissioner (appeals) with a Rs 1-lakh fine — t

Good news for Railway passengers: Flexi-fares to be capped at 1.4 times

In a relief to passengers, the Indian Railways has revised the flexi-fare system — the peak fare will now be capped at 1.4 times the base fare instead of 1.5 times earlier, and the surge pricing has

Rail freight up 8.75% for most commodities

Indian Railways on Wednesday increased freight rates by 8.75% for major commodities such as coal, iron and steel, iron ore and raw materials for steel plants.

Modi brings sops to small business, to unveil MSME package; these benefits on cards

In an outreach to micro, small and medium enterprises (MSMEs), Prime Minister Narendra Modi will likely unveil a package on Friday for these units, including an export credit subsidy.

Strengthen NFRA to deal with challenges related to audit firms: Govt panel

A government-appointed committee of experts has recommended measures to strengthen the operation of the National Financial Reporting Authority (NFRA) to address contemporary challenges in relation to

West Bengal looking at merchant mining as possible revenue stream

West Bengal is looking at the possibility of merchant mining as a new revenue stream with the Centre allotting it the Deocha Pachami coal block, which holds one of the world’s largest reserves.

Kerala’s Pravasi Chits garner 1,000 NRI subscribers in 5 days

Pravasi Chits, which the Kerala government floated to fetch funds for big-billed infrastructure projects, has garnered initial momentum, if its response from NRIs is any indicator. Within five days of

Decision by mid-November: Indian Railways looks for additional gross budgetary support of Rs 18,000 crore

Indian Railways (IR) is set to ask the finance ministry for an additional `18,000 crore of gross budgetary support (GBS) for the current financial year (Budget outlay is `53,060 crore) to accelerate i

Thermal power plant addition seen slowing in FY19-23 on PPA scarcity

Additionally, with increasing share of intermittent renewable energy and rise in industrial open access consumption, it is also expected that overall power procurement structure would undergo a shift

Delhi airport to witness Rs 9,000-crore investment to increase capacity

Delhi International Airport (DIAL) will invest `9,000 crore by 2022 to boost the national capital’s airport capacity to 100 million passengers per annum (mppa), a senior company executive said.

Big connectivity boost: Metro rail projects on in 15 cities, says HS Puri

The metro rail policy also enables greater private participation and innovative financing through transit-oriented development and value capture finance.

IL&FS crisis aftermath: Government plans mega data platform to flag frauds

Critical financial databases, including those of MCA21, GSTN, CBDT and FIU, proposed to be linked.

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