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ECONOMY

Foreign exchange reserves down by USD 56.8 million to USD 362.73 billion

India’s foreign exchange reserves declined by USD 56.8 million to USD 362.73 billion in the week to February 17, on account of dip in foreign currency assets (FCAs), the Reserve Bank said on Friday.

PTI | Feb 24, 2017 07:58 PM

IIP to remain weak in January; may grow up to 0.5 percent: D&B

Index of Industrial Production (IIP) will remain weak and may only grow up to 0.5 per cent during January, on account of various constraints, including subdued domestic demand and an uncertain...

PTI | Feb 24, 2017 05:53 PM

India will be fastest-growing economy among G-20 countries with 7.1 per cent growth in 2017: Moody's

The Indian economy had slowed in the fourth quarter of 2016 due to the withdrawal of 86 per cent of the currency in circulation.

PTI | Feb 24, 2017 12:09 AM

Indian economy remains a bright spot in global landscape

In its annual country report on India, the International Monetary Fund (IMF) said growth is expected at 6.6 per cent in this fiscal year and at 7.2 per cent in the following year.

PTI | Feb 23, 2017 10:54 AM

Faster remonetisation will push economy in Quarter 4: RBI Governor Urjit Patel

Patel, during the two-day Monetary Policy Committee meeting on February 7-8, also said that shifting monetary policy stance from accommodative to neutral will provide sufficient flexibility to move...

PTI | Feb 22, 2017 11:21 PM

Adoption of GST could help India raise GDP growth to over 8 per cent: IMF

At the same time, the International Monetary Fund (IMF) also expressed concerns over the implementation of the Goods and Service Tax (GST).

PTI | Feb 22, 2017 11:09 PM

I-T dept registers over 230 cases, attaches assets worth Rs 55 crore under Benami Transactions Act

The Income Tax department has registered over 230 cases and attached assets worth Rs 55 crore nationwide as part of its post demonetisation action under the newly enforced Benami Transactions Act.

PTI | Feb 22, 2017 08:08 PM

Income Tax dept to scrutinise loan deposits under ops 'clean money' to check stash post demonetisation

The official added there are certain exceptions to these cash-based loan transfers like that under the agricultural income category and others.

PTI | Feb 22, 2017 07:14 PM

Move to set up new agency for probing anomalies in I-T returns filed after demonetisation, says Radha Mohan Singh

There is a move to set up a new agency for probing anomalies in income tax returns filed by 18 lakh people after demonetisation, Union Minister Radha Mohan Singh said on Wednesday.

PTI | Feb 22, 2017 07:04 PM

RBI has no info on number of bank accounts with large deposits post-demonetisation

In reply to RTI application, RBI on February 17 said it did not have the figure of bank accounts in which more than Rs2.5 lakh were deposited in demonetised notes of Rs 500 and Rs1,000,

PTI | Feb 21, 2017 09:37 PM

Government invokes mandatory clause to maintain stents production

The department said there have been reports of shortage of coronary stents in the market/hospitals.

PTI | Feb 21, 2017 09:29 PM

Additional tax should be levied on saturated food items, suggests group of secretaries

Health secretary CK Mishra said his ministry too has been making such recommendations from time to time while some amount of work on the issue is also being done by the country's food regulator.

PTI | Feb 21, 2017 08:27 AM

RBI deputy guv Mundra talks tough to traditional banks, says ''Go digital or become history''

"The age of fintechs is here and for the incumbent banks there is no time to lose. Banks that do not quickly convert in to a new-age digital banks run the risk of becoming history," Mundra said

PTI | Feb 20, 2017 11:38 PM

EU presses India to extend trade pacts with EU nations, also expressed concerns over Kashmir issue

The European Union on Monday pressed India to extend by six months its bilateral investment pactswith several EU-member countries which are expiring soon,saying absence of the treaties could adversely...

PTI | Feb 20, 2017 02:34 PM

IMF agrees terms for USD 5 billion financial aid package to debt-ridden Mongolia

The International Monetary Fund said on Sunday that they and other partners have agreed on terms for a more than USD 5 billion loan package to Mongolia with an aim to revive the country's debt ridden...

PTI | Feb 19, 2017 06:29 PM