Economy News

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Indian Foodservice industry to reach Rs 5 52 000 crore by 2022 with a 10 growth

Industry leaders of the Indian Food Service Retail sector highlighted the upcoming golden decade of the growth in the industry driven by the changing consumer behaviours and influx of technologies ...read more

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Low Consumer Sentiment and Tight Liquidity Weighs On November Vehicle Sales

A latest update from the Society of Indian Automobile Manufacturers (Siam) showed sales of medium and heavy commercial vehicles (M&HCV) dropped 11% from the year earlier in November to 25,363 u...read more

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Shri Shaktikanta Das appointed as Governor of RBI

Shri Shaktikanta Das, IAS Retd., former Secretary, Department of Revenue and Department of Economic Affairs, Ministry of Finance, Government of India assumed charge as the twenty-fifth Governor of ...read more

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Industrial production jumps 8 1 in October 2018

India's industrial production (base year 2011-12=100) surged at 11-month high pace of 8.1% in October 2018, compared with 4.5% growth recorded in September 2018. The industrial production growt...read more

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CPI inflation dips to 17 month low of 2 33 in November 2018

The all-India general CPI inflation dipped to 17-month low of 2.33% in November 2018 (new base 2012=100), compared with 3.38% in October 2018. The corresponding provisional inflation rate for rural...read more

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9185937 Employees benefitted by PMRPY

Pradhan Mantri Rojgar Protsahan Yojana (PMRPY) was launched on 9th August, 2016 with the objective to incentivise employers for creation of new employment. Under the scheme, Government of India is ...read more

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Over 5 02 000 Beneficiaries Assisted Under PMEGP

A total of 5,02,085 beneficiaries and projects have been assisted under the Prime Minister Employment Generation Programme (PMEGP) in 2018-19 (as on 30.11.2018) since its inception in 2008-09. This...read more

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India attaches utmost importance to the 2030 Agenda for Sustainable Development Vice President

The Vice President of India, Shri M. Venkaiah Naidu has said that India attaches utmost importance to the 2030 Agenda for Sustainable Development. He was interacting with the Member, Chamber of Dep...read more

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Unichem Labs may sizzle after securing USFDA nod

 

Unichem Laboratories received a tentative approval from the United States food and Drug Administration for its Tadalafil tablets in the strengths of 2.5 mg, 5 mg, 10 mg and 20 mg. ...read more

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States Have Shown Reasonably Fair performance On Fiscal Front In 2018 19

In an update titled Mid Year Review of Government Finances 2018-19, the RBI noted that while centre’s fiscal position has deteriorated in H1 2018-19 vis-à-vis last year, states have sh...read more

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Outward Foreign Direct Investment Falls In November

 

The Reserve Bank of India has today released the data on Overseas Direct Investment, both under Automatic Route and the Approval Route, for the month of November 2018. The total am...read more

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Major Ports Register Positive Growth Of 4 83 This Fiscal

The major ports in India have recorded a growth of 4.83% and together handled 461.21 Million Tonnes of cargo during the period April to November, 2018 as against 439.96 Million Tonnes handled durin...read more

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The Government of India and ADB sign a $31 Million Loan Agreement to develop Tourism and boost Jobs in Tamil Nadu

The Government of India and the Asian Development Bank (ADB) signed in New Delhi a Loan Agreement for $31 million to build-up the State Tourism Industry and boost visitor arrivals. The signatories ...read more

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RBI Governor Urjit Patel Resigns

The Reserve Bank of India Governor Urjit Patel resigned on Monday, citing personal reasons. On account of personal reasons, I have decided to step down from my current position effective immediatel...read more

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Aim to give LPG connection to every poor household Union Petroleum Minister

The Union Minister for Petroleum & Natural Gas and Skill Development & Entrepreneurship, Dharmendra Pradhan has stated that Government will soon make a decision which will ensure that not a...read more

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Rabi Sowing Area Down More Than 6 Massive Losses In Acreage Under Coarse Cereals

The cumulative area for all rabi crops stood 6.17% lower than last year at 414.29 lakh hectare (lh) as on December 7 2018. Apart from wheat, all other crop categories have reported lower acreage as...read more

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New Industrial Policy To Address Challenges Faced By Manufacturing Sector

Anand Singh Bhal, Principal Economic Adviser, DIPP, has stated recently that the New Industrial Policy, to be announced soon, will address the challenges faced by the manufacturing sector encompass...read more

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Gross Direct Tax Collections Up Nearly 16 In April November 2018

The Provisional Figures of Direct Tax Collections up to November, 2018 show that gross collections are at Rs. 6.75 lakh crore which is 15.7% higher than the gross collections for the corresponding ...read more

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Outcome From Insolvency and Bankruptcy Code Better Than Anticipated Says Finance Minister

The Union Minister of Finance and Corporate Affairs, Arun Jaitley said that the scattered regime prior to the enactment of the Insolvency and Bankruptcy Code (IBC), 2016 had impacted the domestic p...read more

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Indias current account deficit widens to 2 9 of GDP in Q2 of 2018 19

India's current account deficit (CAD) increased to US$ 19.1 billion (2.9% of GDP) in Q2 of 2018-19 increased from US$ 6.9 billion (1.1% of GDP) in Q2 of 2017-18 and US$ 15.9 billion (2.4% of GD...read more

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Water Storage In Major Reservoirs At 59 Of Total Capacity

The water storage available in 91 major reservoirs of the country for the week ending on December 06, 2018 was 94.994 BCM, which is 59% of total storage capacity of these reservoirs. This percentag...read more

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SEA Says Oilmeals Export Down 16 In November

As per the latest data compiled by Solvent Extractors' Association of India (SEA OF India), the export of oilmeals during November 2018, provisionally reported at 311,739 tons compared to 369,5...read more

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Agriculture Export Policy Aims To Double Farm Exports By 2022

The Union Cabinet chaired by Prime Minister Narendra Modi has approved the Agriculture Export Policy, 2018. The Cabinet has also approved the proposal for establishment of Monitoring Framework at C...read more

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There is an urgent need to improve the credit flow to the real economy FICCI

The recent measures taken by RBI have improved the liquidity situation, but credit flow is still tight. While easing liquidity further will definitely help credit, more complementary steps are requ...read more

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Government of India aims to increase the share of the manufacturing sector to the gross domestic product GDP to 25 per cent by 2022

Mr Anand Singh Bhal, Principal Economic Adviser, DIPP, said that the New Industrial Policy, to be announced soon, will address the challenges faced by the manufacturing sector encompassing of adopt...read more

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Domestic Credit Flow Still Tight Says FICCI

FICCI noted in a latest update that the recent measures taken by RBI have improved the liquidity situation, but credit flow is still tight. While easing liquidity further will definitely help credi...read more

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Domestic Credit Flow Still Tight Says FICCI

FICCI noted in a latest update that the recent measures taken by RBI have improved the liquidity situation, but credit flow is still tight. While easing liquidity further will definitely help credi...read more

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Monetary Policy Stance Probably Required Calibration Says Ministry Of Finance

The Secretary, Department of Economic Affairs, Subhash Chandra Garg in a Statement said that the assessment of the RBI’s Monetary Policy Committee (MPC) for growth and inflation outlook is co...read more

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India has potential to become global aviation hub Vice President

The Vice President of India, Shri M. Venkaiah Naidu has said that India has the potential to become global aviation hub for MRO (Maintenance Repair and Overhaul) in view of the growing aviation bus...read more

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RBI keeps repo rate unchenaged Fifth Bi monthly Monetary Policy

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The MPC noted that the benign outlook for headline inflation is driven mainly by the unexpected softening of food inflation and collapse in oil prices in a relatively short period of ti...read more

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Indian economy enjoys best upswing in over two years Nikkei India Services PMI

November saw India's economy spring back to life, as manufacturers and service providers registered stronger increases in business activity amid an upsurge in demand. Inflows of new work expand...read more

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India has potential to become global aviation hub Vice President

The Vice President of India, Shri M. Venkaiah Naidu has said that India has the potential to become global aviation hub for MRO (Maintenance Repair and Overhaul) in view of the growing aviation bus...read more

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DoF ensures availability of sufficient field stock of fertilizers across the country Union Minister For Fertilizers

“There is sufficient field stock of fertilizers available in all the States, which is adequate to address any emergent issue”, said Union Minister for Chemicals & Fertilizers, Stati...read more

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RBI To Inject Durable Liquidity Through OMOs In December

The Reserve Bank of India (RBI) is set to pump in further liquidity in December by infusing Rs 40,000 crore into the system through open market operations (OMOs). Based on an assessment of the dura...read more

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Demand Slowdown To Weigh On Economy In September Quarter

India's Gross Domestic Product (GDP) growth in the September quarter is expected to ease to 7.5-7.6% mainly due to slowdown in rural demand, a State Bank of India (SBI) research report said Mon...read more

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Demand Slowdown To Weigh On Economy In September Quarter

India's Gross Domestic Product (GDP) growth in the September quarter is expected to ease to 7.5-7.6% mainly due to slowdown in rural demand, a State Bank of India (SBI) research report said Mon...read more

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Demand Slowdown To Weigh On Economy In September Quarter

India's Gross Domestic Product (GDP) growth in the September quarter is expected to ease to 7.5-7.6% mainly due to slowdown in rural demand, a State Bank of India (SBI) research report said Mon...read more

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Sagarmala Project To Save Nearly Six Billion Dollars Per Annum In Logistics Costs

Union Minister for Shipping, Road Transport & Highways, Water Resources, River Development and Ganga Rejuvenation Shri Nitin Gadkari has said that Blue Economy is very crucial for India's e...read more

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Vice President Calls For Modernization Of Textile Industry

The Vice President of India, M. Venkaiah Naidu has called for United Nations and other Multilateral Organisations to chalk out strategy to extradite economic fugitives. He was addressing the CITI G...read more

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Large Companies Must Borrow 25 Though Corporate Bonds Market From Next Fiscal Say SEBI

From next fiscal year, large corporates have to raise 25%of their incremental borrowings only through the corporate bonds market, Securities Exchange Board Of India (SEBI) stated in a latest circul...read more

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Ministry of Housing Launches Paisa Portal for Affordable Credit Interest Subvention Access

Economy News

Ministry of Housing Launches Paisa - Portal for Affordable Credit & Interest Subvention Access

(27 Nov 2018, 12:38)...read more

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States Must Focus On Long Term Economic Model Says Vice President

The Vice President of India, M. Venkaiah Naidu has said that states must focus on long term economic model for the betterment of the people and must not settle for short-term populist measures. Add...read more

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Domestic LPG Consumption Grows 6 9 In First Seven Months Of This Fiscal

Total LPG consumption in India recorded a positive growth continuously for the last sixty two months and rose by 4.8% during October 2018. The consumption recorded accumulative growth of 6.9% durin...read more

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Petroleum Products Consumption Up 4 In October Crude Oil Imports Soar To 7 Year High

Petroleum product consumption registered a growth of 4% during October 2018 and a cumulative growth of 3.5% during April-October 2018. Last year during October 2017, a growth of 4.3% and cumulative...read more

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Cumulative Crude Oil Output Down 3 65 Over Year In April October 2018

Domestic Crude oil production during October, 2018 was 2885.20TMT which is 8.07% lower than target and 5.03% lower when compared with October, 2017. Cumulative crude oil production during April-Oct...read more

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Advancement of Science Technology inclusive approach is crucial to become a developed nation Vice President

Vice President of India, Shri M Venkaiah Naidu said that the nation must leverage the talents and skills of the young and educated by realizing the demographic advantage of having 65 per cent of th...read more

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Indias Growth Will Slow Somewhat But Remain Robust Says OECD

India’s economic growth will slow somewhat but remain robust, at close to 7.50% in 2019 and 2020, noted the Organization for Economic Co-operation and Development (OECD) in a latest update to...read more

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India Plays Key Role In Current Multipolar World Says EU

The European Commission and the High Representative of the Union for Foreign Affairs and Security Policy today adopted a Joint Communication that sets out the EU's vision for a strategy to stre...read more

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Expert committee to look into issues regarding capital surplus RBI

The Reserve Bank of India's (RBI) Central Board met today in Mumbai and discussed the Basel regulatory capital framework, a restructuring scheme for stressed MSMEs, bank health under Prompt Cor...read more

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Government of India and the Asian Development Bank ADB sign $300 Million Loan to support India Infrastructure Finance Company Limited IIFCL

The Asian Development Bank (ADB) and the Government of India signed a $300 million Loan Agreement to support lending by India Infrastructure Finance Company Limited (IIFCL). Speaking on the occasio...read more

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Water Storage In Major Reservoirs At 64 Of Total Capacity

The water storage available in 91 major reservoirs of the country for the week ending on November 15, 2018 was 103.735 BCM which is 64% of total storage capacity of these reservoirs. This percentag...read more

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Trade Deficit Widens To $17 13 Bn As Against $14 61 Bn Last Year

Exports in October 2018 were US $ 26.98 Billion, as compared to US$22.89 Billion in October 2017, exhibiting a positive growth of 17.86%. In Rupee terms, exports were Rs 1,98,634.84 Crore in Octobe...read more

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18 Growth in Exports Encouraging PHD Chamber

While appreciating India's exports growth at around 18% in the month of October 2018, Mr Rajeev Talwar, President, PHD Chamber of Commerce and Industry said that the trade facilitation measures...read more

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Merchandise export volume expected to increase to USD 100 billion after the implementation of RCEP agreement PHD Chamber

While appreciating India's vision for a balance trade agreement with Regional Comprehensive Economic Partnership (RCEP) members, Mr. Rajeev Talwar, President, PHD Chamber of Commerce and Indust...read more

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18 Growth in Exports Encouraging: PHD Chamber

While appreciating India's exports growth at around 18% in the month of October 2018, Mr Rajeev Talwar, President, PHD Chamber of Commerce and Industry said that the trade facilitation measures...read more

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Odisha invites industry to tap opportunities in defence aerospace sectors

Mr Sanjeev Chopra, Secretary Industries, Government of Odisha made a strong pitch to the defence Industry to tap the opportunities that Odisha had to offer in the aerospace and defence sectors at t...read more

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RERA Bringing Positive Transformative Changes In Industry

Hardeep Singh Puri, Minister of State (I/C) of Housing and Urban Affairs, has said that in this new era of RERA, we are witnessing positive transformative changes in the industry. In the 2nd year o...read more

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Liquidity Crunch impacting Credit Flow to MSME Sector CII

The micro, small and medium enterprises (MSMEs) are facing additional challenges in accessing credit due to the recent liquidity crunch in the economy impacting their working capital and term loan ...read more

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GST Largely Positive For Pharma Sector Improving Supply Chain Efficiency

Impact of Goods and Services Tax (GST) on Pharma sector has largely been positive and constructive, informed Minister of State for Road Transport, Highways, Shipping and Chemicals & Fertilizers...read more

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Wholesale Price Inflation Rises To 5 28

 

The annual rate of inflation, based on monthly Wholesale Price Index (WPI), stood at 5.28% (provisional) for the month of October 2018 (over October 2017) as compared to 5.13% (pro...read more

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Emerging Consensus between Government and RBI to revive MSMEs ASSOCHAM

Apex industry body ASSOCHAM today welcomed the reported decision of the Reserve Bank of India (RBI) on exploring a loan restructuring package for small and medium enterprises (SMEs) which is likely...read more

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Prime Minister Lauds Spectacular Growth of Next Generation Transport Infrastructure In Country

Prime Minister Narendra Modi expressed happiness at the way next generation transport infrastructure has grown in the last four years and noted that airports in remote areas, train network expandin...read more

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Consumer Price Inflation Softens

India's headline consumer price inflation rose 3.31% year-on-year in October after a 3.70% increase in September, which was revised from 3.77 percent, provisional figures from the statistics mi...read more

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NPAs of banks needs to be curbed as healthy banks are necessary for growth of economy Finance Minister

India will soon have banking point within the reach of 5 kms of every citizen, Union Minister of Finance and Corporate Affairs Shri Arun Jaitley said. He was speaking at the 100th Foundation Day pr...read more

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Auto Industry Growing In Double Digits

The industry produced a total 19,575,255 vehicles including passenger vehicles, commercial vehicles, three wheelers, two wheelers and quadricycle in April-October 2018 as against 17,112,236 in Apri...read more

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Domestic Digital Transactions Register Tremendous Growth

Over the past two years, Digital payment transactions have registered tremendous growth in India. New payment modes – Bharat Interface for Money-Unified Payments Interface (BHIM-UPI), Aadhaar...read more

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Fair and Transparent Public Procurement Will Protect Revenues Of State Says FM

Procurement, based on the principles of fairness, transparency and public interest, will protect the revenues of the State and make sure that they are used for optimal purpose, said the Union Minis...read more

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Increased government spending on infrastructure and modernisation need of the hour

Capital expenditure by central and state government agencies on homeland security presents potential of USD 2.73 billion for the year 2018-2019, noted a just-concluded ASSOCHAM-KPMG joint study. Mu...read more

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Stronger upturn in new business boosts services jobs Nikkei India Services PMI

October data pointed to a stronger improvement in India's service sector, with an accelerated upturn in new work underpinning quicker rises in activity and jobs. Cost inflationary pressures eas...read more

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Stronger upturn in new business boosts services jobs Nikkei India Services PMI

October data pointed to a stronger improvement in India's service sector, with an accelerated upturn in new work underpinning quicker rises in activity and jobs. Cost inflationary pressures eas...read more

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Water Storage In Major Reservoirs At 67 Of Total Capacity

The water storage available in 91 major reservoirs of the country for the week ending on November 01, 2018 was 109.247 BCM which is 67% of total storage capacity of these reservoirs. This percentag...read more

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MSME Support Programme To Spur Job Creation Says ASSOCHAM

Terming the scheduled launch of a MSME support programme by Prime Minister Narendra Modi on Friday as the much needed step to boost the confidence of trade and industry, ASSOCHAM president, B.K. Go...read more

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GST Revenue Crosses Rs 1 Lakh crore

The revenue collection from Goods and Services Tax has crossed Rs 1 lakh crore for the second time since the indirect tax regime was introduced in July last year. 
GST mop-up had crosse...read more

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GST Made India a Transparent and Integrated Market With Greater Ease Of Doing Business

The Vice President of India, M. Venkaiah Naidu has said that India’s stability, consistency, transparency and reform agenda coupled with a safe and structured financial system makes India one...read more

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Government And RBI Efforts To Improve Liquidity Has Started Yielding Results Says FICCI

The government and RBI efforts to improve the liquidity situation has started yielding results, but more measures are required to make available adequate liquidity in the system and strengthen the ...read more

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Core Sector Growth Falls To Four Month Low

Growth of eight infrastructure sectors slowed down to 4.3% in September, the lowest in the last four months according to data released by the commerce and industry ministry on Wednesday. The output...read more

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Consumer Price Index for Industrial Workers Remains Static

The All-India CPI-IW for September, 2018 remained stationary at 301 (three hundred and one). On 1-month percentage change, it remained static between August, 2018 and September, 2018 and it was als...read more

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GST Council Took More Than 900 Decisions Since Its Constitution

Till date, the Goods and Services Tax (GST) Council has taken 918 decisions related to GST laws, rules, rates, compensation and taxation threshold etc. More than 96% of the decisions have already b...read more

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Government Preparing Agro Specific Zones Under New Agriculture Export Policy

Union Minister of Commerce & Industry and Civil Aviation, Suresh Prabhu said that the Government of India is preparing agro specific zones under the new Agriculture Export Policy which will be ...read more

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Fiscal Deficit Widens In First Half Of FY2019

The fiscal deficit of the Central government has widened in the first half of 2018-19 to 95.3% of the Budget Estimate (BE), mainly on account of slow growth in revenue collections. The deficit was ...read more

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India keen to export rice and sugar to China in order to bridge widening trade deficit

Five more rice mills have been cleared for exporting non-basmati rice, from India to China, taking the total to 24 rice mills. The first consignment of non-basmati rice, of 100 tonnes, was shipped ...read more

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Value Addition For Agricultural Production One Of The Solutions For Improving Farmers Income

The Vice President of India, M. Venkaiah Naidu has said that value addition for agricultural production is one of the solutions for improving farmers' income. He made these comments while addre...read more

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Menon Bearings fixes record date for interim dividend

 

Menon Bearings has fixed 01 November 2018 as record date for interim dividend.

...read more

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Cabinet Approves MOU Between India and Singapore On Setting Up Of Joint Working Group On FinTech

The Union Cabinet chaired by Prime Minister Narendra Modi has given its ex-post facto approval to the Memorandum of Understanding (MoU) signed between India and Singapore in June, 2018 on the const...read more

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RBI Data Shows Drop In Demand Deposits

According to latest data from the RBI on the Scheduled Banks' Statement of Position, the Demand & Time deposits from banks dropped from Rs 1486.46 crore to Rs 1437.61 crore in fortnight end...read more

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High Level Committee To Review National Indicator Framework for Sustainable Development Goals

The Union Cabinet chaired by the Prime Minister Narendra Modi has approved the constitution of a High Level Steering Committee for periodically reviewing and refining the National Indicator Framewo...read more

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Cabinet Approves MOU Between India and Singapore On Setting Up Of Joint Working Group On FinTech

The Union Cabinet chaired by Prime Minister Narendra Modi has given its ex-post facto approval to the Memorandum of Understanding (MoU) signed between India and Singapore in June, 2018 on the const...read more

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Bilateral Investment Agreement To Help Project India As Preferred FDI Destination

The Union Cabinet chaired by the Prime Minister Narendra Modi has approved the signing of Bilateral Investment Agreement (BIA) between India Taipei Association (ITA) in Taipei and Taipei Economic a...read more

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India must promote gender parity and push exports to grow at 9 10 annually for next 30 years or more NITI Aayog CEO

Gender parity and exports are the two critical areas which India must focus on to be able to grow at higher rates of 9-10 per cent per year for the next three decades or more to lift a very young p...read more

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India needs a strong and decisive leadership at the Centre to remain a sweet spot of the world Arun Jaitley

Referring to the decisive manner in which the recent global challenges like rising crude oil prices or the spill over effects of domestic policies of certain countries were handled by Prime Ministe...read more

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Interest Rates On General Provident Fund Raised By 0 4

The government has raised interest rates on General Provident Fund (GPF) and other related schemes by 0.4% to 8%. The revised rates would be applicable from October 1, 2018 to December 31, 2018, De...read more

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Government Preparing Roadmap To Promote Manufacturing Of Aeroplanes In India

The Government is preparing a roadmap to promote manufacturing of aeroplanes in India to ensure growth of country’s aviation sector, union minister, Suresh Prabhu said at an ASSOCHAM event he...read more

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Ministry of Petroleum Natural Gas To Launch Phase II of Indian Strategic Petroleum Reserves

Minister of Petroleum & Natural Gas and Skill Development and Entrepreneurship Dharmendra Pradhan will launch the Road Show for Phase II of Indian Strategic Petroleum Reserves on 17th Oct&rsquo...read more

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Domestic Vegetable Oil Imports Down 2 In September 2018

The Solvent Extractors’ Association (SEA) of India has compiled the Import data of Vegetable Oils (edible & non-edible) for the month of September 2018. Import of vegetable oils during Se...read more

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Mid year Year Assessment Shows Exports Growing In Healthy Manner

Mid-year assessment of the first six months of this financial year shows that exports are growing in a healthy manner to build on the export growth seen in 2016-17 and 2017-18. In the first six mon...read more

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National Housing Bank Increases the Refinance Limit to Rs 30000 crore for FY19

 

The National Housing Bank (NHB) has decided to increase the Refinance limit to Rs.30,000 crore. Now, eligible Housing Finance Companies & Other entities will have increased ava...read more

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India has potential to fill in the gaps left by America in the Chinese market IndiaChina Trade Study

Union Minister of Commerce & Industry and Civil Aviation, Suresh Prabhu said that India's trade relationship with China is unique and no other bilateral trading relationship evokes as much ...read more

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FICCI welcomes RBI decision to keep the repo rate unchanged

FICCI welcomes RBI's decision to keep the repo rate unchanged”, Mr Rashesh Shah, President FICCI said commenting on the release of fourth bi-monthly monetary policy statement. This move s...read more

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Domestic Organic Food Market To Touch Rs 10000 Crore In Next Three Years

Union Agriculture & Farmers Welfare Minister Radha Mohan Singh has said that organic farming has the potential to provide livelihood to farmers and create employment opportunities for rural and...read more

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Bankruptcy Code to help deepening of corporate bond market ASSOCHAM CRISIL study

India's corporate bond market which forms 17 per cent of the country's GDP against 123 per cent in the US and 74 per cent in South Korea, is highly concentrated in the AAA rated bonds, whic...read more


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