Date: July 21, 2017
According to recent data from RBI, the gross non-performing assets (NPAs) of public sector banks are just under Rs 4 lakh crore, and they collectively account for 90 percent of such rotten apples in the country’s banking portfolio.
In terms of net NPAs, their share is even higher – at 92 percent of the total bad loans...Read More
Date: July 20, 2017
The Union Minister for Finance, Defence and Corporate Affairs will formally launch the Pradhan Mantri Vaya Vandana Yojana (PMVVY) tomorrow in the national capital. PMVVY is a Pension Scheme announced by the Government of India exclusivelyfor the senior citizens aged 60 years and above which is available from 4th May, 2017 to 3rd May, 2018. The Scheme can be purchased offline as well as online t...Read More
Date: July 17, 2017
Finance Minister Arun Jaitley launches a new tax payer service module ‘Aaykar Setu’ that compiles various tax tools, live chat facility, dynamic updates, and important links to various processes within the Income Tax Department in a single module; Says that this e-initiative would not only provide better taxpayer services but would also help in reducing the direct physical interface...Read More
Date: June 30, 2017
Goods and Services Tax (GST), a historic tax reform, will come into effect from tomorrow i.e.1st July, 2017. GST will completely transform the Indirect Taxation landscape in the country involving both the Central and State levies. In a departure from the normal practice, GST will be administered together by the Centre and States.
To commemorate the historic occasion, a function will...
Date: June 15, 2017Read More
Date: June 15, 2017
Indian economy is vitally linked with the monsoon because of its water resources. A large part of the country gets more than 75% of the annual rainfall during the four months, June to September.
Date: May 11, 2017Read More
Date: April 26, 2017Read More
Date: April 06, 2017Read More
Date: March 01, 2017
Reserve Bank of India has announced setting up of the inter-disciplinary standing committee on cyber security to review the threats inherent in the existing and emerging technology.
The 11-member committee will also study adoption of various security standards and protocols, interface with stakeholders and suggest appropriate policy interventions to strengthen cyber security and resilie...Read More
Date: February 24, 2017
The International Monetary Fund has said the Indian economy is growing strongly and remains a bright spot in the global landscape. It said growth is expected at 6.6 percent in this fiscal year and at 7.2 percent in the following year.
"The Indian economy is growing strongly and remains a bright spot in the global landscape," the IMF mission chief for India, Paul Cashin said.
Date: February 24, 2017
Foreign direct investment (FDI) grows up by 18 percent in India to touch 46 million USD data; services, telecom, trading, computer hardware and automobile sector attract highest foreign inflows.
The recent steps announced by the government to attract foreign inflows, are yielding positive results. According to data released by the Department of Industrial Policy and Promotion, the Forei...Read More
Date: February 21, 2017
The Govt of India has been making a big push for digital payments since demonetization of old currency notes. In a move to promote Digital India initiative and encourage cashless payments, the government has introduced Unified Payments Interface (UPI) for smartphones, and Unstructured Supplementary Service Data (USSD) based mobile banking for basic and feature phones. The government has also in...Read More
Date: February 19, 2017
Government-owned State Bank of India (SBI), the largest bank in India, is taking the lead in the launch of a financial blockchain consortium that will include privately-owned banking giants and technology companies.
The announcement follows the recently concluded Reserve Bank of India’s pilot blockchain project. The project involving the use of blockchain technology for trading ap...Read More
Date: February 19, 2017
Public procurement forms a very important part of Government activity and reform in Public Procurement is one of the top priorities of the present Government. Government e-Marketplace (GeM - gem.gov.in) is a very bold step of the Government with the aim to transform the way in which procurement of goods and services is done by the Government Ministries and Departments, Public Sector Undertaking...Read More
Date: February 09, 2017Read More
Date: February 09, 2017Read More
Date: February 01, 2017
Income Tax Department (ITD) has initiated Operation Clean Money, today. Initial phase of the operation involves e-verification of large cash deposits made during 9th November to 30th December 2016. Data analytics has been used for comparing the demonetisation data with information in ITD databases. In the first batch, around 18 lakh persons have been identified in whose case, cash transactions ...Read More
Date: February 01, 2017
Finance Minister Shri Arun Jaitley today presented the Economic Survey 2016-17 in the Parliament today. The Survey suggest that on the question of creating one economic India, technology, economics and politics have been surging ahead. Perhaps, it is time for the laws to catch up to further facilitate this surging internal integration.
It finds high levels of internal trade between stat...Read More
Date: January 31, 2017
The Economic Survey 2017 was presented in the Parliament today by the Finance Minister Arun Jaitley.The Economic Survey pointed out that demonetisation will have both short-term costs and long-term benefits.
Key Highlights of Economic Survey
* FY18 GDP growth in the range of 6.75-7.50%
* FY17 industrial growth seen 5...
Date: January 29, 2017
The Narendra Modi government issued clarification that GAAR, that is General Anti-Avoidance Rule, will come into effect from April 1, 2017. The General Anti Avoidance Rule (GAAR) provisions shall be effective from the Assessment Year 2018-19 onwards, i.e. Financial Year 2017-18 onwards, the Finance Ministry said in a press release.
In India, the GAAR concept was introduced with the DTC ...Read More
Date: January 29, 2017
India Post has received payments bank licence from the Reserve Bank of India to start rollout of banking operations commercially under the permit.India Post Payments Bank is the third entity to receive payments bank permit after Bharti Airtel and Paytm.
Payments banks can accept deposits up to Rs 1 lakh per account from individuals and small businesses.
The new model of banking ...Read More
Date: January 27, 2017
The chief ministers’ committee on digital payment on Tuesday submitted its interim report to Prime Minister Narendra Modi, recommending an array of tax incentives and subsidies. The committee, headed by Andhra Pradesh Chief Minister Chandrababu Naidu, has suggested that there should be a limit on cash in case of big transactions. It also asked the government to levy a cash transaction tax...Read More
Date: December 12, 2016
Government of India has initiated numerous steps to combat the scourge of Corruption and Black Money in the last two and a half years. Demonetization of 500 and 1000 Rs. notes is an important milestone in this endeavour. These large denomination currencies have resulted in a number of ill effects upon the economy. To increase overall transparency in the economy, it is important that we set into...Read More
Date: November 17, 2016Read More
Date: September 28, 2016Read More
Date: September 19, 2016Read More
Date: August 08, 2016
The 122nd Amendment to the Constitution will go down in India’s political-economic history as a watershed, as it is about to give the country the most progressive tax reforms till date in the form of Goods and Services Tax (GST) which should make life easier for the trade and industry and more importantly reduce the cost of goods and services for the consumer, without compromising on the ...Read More
Date: July 25, 2016
Famous Business Magazine Fortune has released the top 500 lisitngs of the world biggest companies for the year 2016.Fortune is a New York based international Business Magazine managed by Time Inc., and dated back to 1929 for its foundation. This magazine is well known for its Fortune 500 list, a detailed and analytical rankings of the international companies depending upon their economy and val...Read More
Date: June 29, 2016Read More
Date: June 20, 2016Read More
Date: June 16, 2016
The Cabinet gave its in-principle approval for State Bank of India’s proposal to bring its five associate banks into its fold. This comes barely a month after the SBI board had, on May 17, cleared a proposal to merge its five associate banks and Bharatiya Mahila Bank with itself.
The five associate banks are — State Bank of Bikaner and Jaipur, State Bank of Travan...Read More
Date: June 14, 2016Read More
Date: June 09, 2016
Fortune released its annual list of the 500 largest companies in the United States, with Walmart retaining its top spot on the Fortune 500 for the fourth consecutive year.The retail giant is joined this year by runner-up Exxon Mobil, followed by Apple, Berkshire Hathaway, McKesson, UnitedHealth Group, CVS Health, General Motors and Ford Motor. AT&T rounds out the top 10 list.
Date: May 12, 2016Read More
Date: May 11, 2016
The government has decided to amend a three-decade old treaty with Mauritius, which will enable India to impose capital gains tax on investments coming from the African island nation starting next year.India and Mauritius signed the protocol for amendment of the convention for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income and capital ...Read More
Date: May 10, 2016
The present Government has taken various decisions and steps to curb the menace of black money both within and outside the country in last two years. Some of the major decisions and actions taken in this regard are given below:
1. Sustained steps taken for curbing black money:-
(a) A new Black Money Act has been enacted with strict penalty provisions.
Date: April 15, 2016
World Bank named India as the world’s largest remittance recipient in 2015 despite experiencing a $ 1 billion drop from the previous year, the first decline in its remittances since 2009.
India reserved its top spot in 2015, attracting about $69 billion in remittances, down from $70 billion in 2014, the World Bank in its annual report ‘Migration and Development Brief’....Read More
Date: April 05, 2016
The Panama Papers are an unprecedented leak of 11.5m files from the database of the world’s fourth biggest offshore law firm, Mossack Fonseca. The records were obtained from an anonymous source by the German newspaper Süddeutsche Zeitung, which shared them with the International Consortium of Investigative Journalists (ICIJ). The ICIJ then shared them with a large network of internat...Read More
Date: March 29, 2016
The Central Board of Direct Taxes signed 11 unilateral APAs. With this signing, India has entered into 59 bilateral and/or unilateral APAs. The Advance Pricing Agreement (APA) programme was introduced by the Finance Act, 2012 to provide a predictable and non-adversarial tax regime and to reduce litigation in the Indian transfer pricing regime. 50 of these agreements ha...Read More
Date: March 10, 2016
ICICI Bank announced the launch of a work-from-home programme to prevent women employees from dropping out of its workforce.
The company has deployed face recognition technology to facilitate women to work from home and provide access to the bank’s core banking servers under. The programme iWork@ home will enable almost every non-customer facing task to be done from home.
Date: March 09, 2016
IFC, a member of the World Bank Group, has launched its first Uridashi Masala Bond, mobilising Rs.300 million ($4.3 million) directly from Japanese household investors to promote private sector development in India.
The three-year bond builds on IFC's pioneering Masala bond programme, which has raised the equivalent of $1.7 billion from international investors for investment in India, I...Read More
Date: March 02, 2016Read More
Date: March 02, 2016
Tata Consultancy Services (TCS) has been recognised as a 'Global Top Employer' by the Top Employers Institute.
In its assessment of 1,072 companies worldwide, the Top Employers Institute rated TCS as an exceptional performer across nine core HR areas including talent strategy, workforce planning, on-boarding, learning and development, performance management and leadership development, a...Read More
Date: March 01, 2016
On 29th February 2016, Finance Minister Arun Jaitley presented his third Union Budget for 2016-17 citing the acceleration of GDP growth to 7.6%. CPI inflation has come down to 5.4%.
Date: February 26, 2016Read More
Date: February 25, 2016
The Union Railway Budget 2016-17 focused on capacity creation in the rail sector, with an increased outlay of about Rs. 1.21 lakh crore, and on completion of the ongoing projects rather than announcing new ones. Extending 2015's measure, passenger fares remain the same.
Tejas Express – premium superfast with man...Read More
Date: February 17, 2016Read More
Date: February 14, 2016
Prime Minister Narendra Modi inaugurated Make in India Centre at Bandra Kurla Complex, a commercial complex in the suburbs of Mumbai. Modi will formally launch the “Make in India” week Saturday evening at an event at Worli, Mumbai.The Make In India week will conclude on 18 February.
Date: February 12, 2016Read More
India expected to be world's fastest growing economy: U. N. World Economic Situation and Prospects 2016 report
Date: January 22, 2016
India will be the world's fastest growing large economy at 7.3 per cent in 2016, improving further to 7.5 per cent in the following year,says the United Nations World Economic Situation and Prospects 2016 report launched today.
This report expects the Indian economy, which accounts for over 70 per cent of South Asia's GDP, to grow 7.3 per cent in 2016 and 7.5 per cent in 2017, up from a...Read More
Date: January 19, 2016
French President Francois Hollande has announced what he called "a state of economic and social emergency" involving a €2 billion plan to revive hiring and catch up with the world’s economy.
The measures he proposed, however, are relatively modest, and he said they would not “put into question” the 35-hour workweek. With his country under a state of emergency sinc...Read More
Date: December 09, 2015
India ranks fourth in black money outflows with a whopping $51 billion siphoned out of the country per annum between 2004-2013,as per report published by Global Financial Integrity. In the report Titled 'Illicit Financial Flows from Developing Countries: 2004-2013', the study shows that illicit financial flows first surpassed $1 trillion in 2011 and have grown to $1.1...Read More
Date: December 07, 2015
Singapore has replaced Mauritius as the top source of foreign direct investment (FDI) into India during the first half of the current fiscal.
During April-September 2015, India has attracted $6.69 billion (₹43,096 crore) FDI from Singapore while from Mauritius, it received $3.66 billion (₹23,490 crore), according to data from the Department of Industrial Policy and Promotion (DIPP)....Read More
Date: December 03, 2015
The Chinese Yuan is anointed as one of the world’s elite currencies, a milestone decision by the International Monetary Fund that underscores the country’s rising financial and economic heft.
The move will help pave the way for broader use of the renminbi in trade and finance, securing China’s standing as a global economic power. Just four other currencies — the ...Read More
Date: December 03, 2015Read More
Union Government launches Technology Acquisition and Development Fund under the National Manufacturing Policy (NMP)
Date: November 20, 2015
Union Government has launched the Technology Acquisition and Development Fund (TADF) under the National Manufacturing Policy (NMP), 2011. It was launched by Union Minister of State (MoS) for Commerce & Industry Nirmala Sitharaman in New Delhi.
TADF will facilitate Micro, Small & Medium Enterprises (MSME) to acquire clean, green and energy efficient technologies. It will also cat...Read More
Date: November 20, 2015
7th Central Pay Commission (CPC) headed by Justice AK Mathur has submitted its report to Union government.
Key features are-
Recommended Date of implementation: 01.01.2016
Minimum Pay: Based on the Aykroyd formula, the minimum pay in government is recommended to be set at ₹18,000 per month.
Maximum Pay: ₹2,25,000 per month for Apex...Read More
Date: November 04, 2015
Prime Minister Narendra Modi will launch the four mega Gold related Schemes i.e. Gold Monetisation Scheme (GMS), Gold Sovereign Bond Scheme, Gold Coin Scheme and the Gold Bullion Scheme on Thursday, 5th November, 2015 in the national capital.
The salient features of each of the aforesaid scheme are as follows:
Gold Monetisati...Read More
Date: October 29, 2015
Prime Minister's aspiration to turn the country into a top investment destination has got off to a positive start, with India now ranked by the World Bank at 130 of 189 countries on "Ease of Doing Business." That is up 12 places from its original ranking last year and four places from its rank on a revised list.
1) India was ranked 142 by the Worl...Read More
Date: October 21, 2015
India to lead green bond market in Asia: Moody's
Moody’s Investors Service on 19 October 2015 released a report on the global green bonds market titled Third Quarter Issuance Lags, but COP21-Linked Increase Is Likely.The report says that in the third quarter (Q3) of 2015, the global green bond issuance reached 7.5 billion dollar, compared to bond issuance of 27.2 billion dollar in...Read More
Date: October 19, 2015
IDFC Bank to start operations from Oct 1
Infrastructure financier IDFC, which received a universal banking licence from the Reserve Bank of India (RBI) last year, will start banking operations from October 1. It received in-principle approval for operation in April 2014 and obtained the final approval on Frid...Read More
Date: September 10, 2015
Introduction of Gold Monetization Schemes
The Union Cabinet chaired by the Prime Minister, Shri Narendra Modi, today gave its approval for introduction of Gold Monetization Schemes (GMS), as announced in the Union Budget 2015-16.
The objective of introducing the modifications in the schemes is to make th...
Date: September 08, 2015
China's latest step to curb stocks' wild ride: Circuit breakers
BEIJING China's Shanghai and Shenzhen Stock Exchanges and the China Financial Futures Exchange plan to introduce a 'circuit breaker' on one of the country's benchmark stock indexes to "stabilise the market", the Shanghai exchange declared. Read More
Date: September 04, 2015
F.M. C. to be merged with SEBI from September 28
The government has notified the merger of commodities market regulator Forward Markets Commission (FMC) with Sebi with effect from September 28.
Finance Minister Arun Jaitley, in his Budget speech, had announced the merger of FMC with the capital ...Read More
Date: August 19, 2015
Govt. Launches India Aspiration Fund & Make in India Loans for Indian Startups, SMEs; Allocates Rs.12000 Cr
PM Modi thundered “Start-up India, Stand up India” during his Independence Day speech in Delhi, in order to inspire more Indians into entrepreneurship. The best part is that, the talks a...Read More
Date: August 16, 2015
Bank Board Bureau:Guide banks on mergers and consolidations
Union Government has decided to set up a Bank Board Bureau (BBB) to monitor key performance indicators of public sector banks (PSBs).The Banks Board Bureau will recommend appointment of directors in public sector banks (PSBs) and advise on ways of ra...Read More
Date: August 16, 2015
Union Government unveils Indradhanush Mission for PSBs
India has unveiled a seven-pronged revamp plan for Public Sector Banks to srenthen their economic health.The strategy, dubbed Indradhanush (rainbow), focuses on systemic changes in state-run lenders, including a fresh look at hiring, a comprehensive...Read More
Date: August 10, 2015
Union Government launches Suraksha Bandhan drive in Mission Mode
To enhance social social security covers in an innovative way this festival season, the government will launch a “Suraksha Bandhan’ drive on on Raksha Bandhan (August 29), where facilities such as gift cheques and special deposits wi...Read More
Date: August 05, 2015
RBI keeps repo rate unchanged at 7.25%; CRR unchanged
Reserve Bank on Tuesday kept its policy rates unchanged, with Governor Raghuram Rajan saying that the headline inflation is at elevated levels and banks are yet to pass on the full benefits of previous rate cuts.
RBI has cut the rates thrice so far...Read More
Date: July 26, 2015
MAT: Shah panel says ‘no relief’ for FIIs
A panel headed by law commission chairman AP Shah to examine the vexed issue of minimum alternate tax (MAT) on foreign portfolio investors has submitted its report to the government. The report on levy of Minimum Alternate Tax (MAT) on foreign i...Read More
Date: July 25, 2015
Minimum wage hike from Rs. 137 to Rs. 160
The government has increased minimum wage across the country to Rs 160 a day from Rs 137 with effect from this month. It has raised the threshold after two years on the basis of average increase in the consumer price index for industrial workers during this perio...Read More
Date: July 25, 2015
Decline in global gold prices: Causes
Gold prices fell to their three-month lows in September.Gold is often viewed as an inflation hedge and safe haven investment by investors. Thus, gold prices are to a large extent influenced by a set of related factors including the macroeconomic outlook for the U.S. and w...Read More
Date: July 05, 2015
BSNL Launches Mobile Wallet With Cash Withdrawal Option
State-run operator BSNL on friday launched a pre-paid card linked mobile wallet service which would allow its customers to transfer money, pay for services as well as withdraw cash of up to Rs. 1 lakh.
The wallet service, Speed Pay, allows a custome...
Date: July 04, 2015
UNHRC resolution for Rohingya Muslims
United Nations Human Rights Commission (UNHRC) adopted a resolution on addressing the human rights situation of Rohingya Muslimsand other minorities in Myanmar.
This came after a regional crisis erupted with hundreds of migrants from the nation found adrift in t...
Date: July 04, 2015
India: A lower middle income category economy has now crossed 2 trillion mark
India has now crossed 2 trillion mark and racing towards becoming 3 trillion economy. According to the data released by the World Bank, India's GDP crossed 2 trillion dollar mark in 2014 and now stand at 2.6 trillion. Remarkebl...Read More
Date: July 01, 2015
World Cellular Information Service (WCIS) Report
According to the latest data published by World Cellular Information Service (WCIS), Airtel has over 303 million mobile subscribers across its operations and has moved up one position in the global rankings. Bharti Airtel has become the world’s third...Read More
Date: May 10, 2015
Bharatiya Mahila Bank received:Asian Banker Achievement Award 2015
The Asian Banker Achievement Award 2015 is won by Bharatiya Mahila Bank. It was received by Mrs Usha Ananthasubramanian,the Chairman and Managing director of Bharatiya Mahila Bank.
BMB was given the award in the technolog...
Date: April 24, 2015
RBI revises priority sector norms, includes more categories
Since the vision of Priority Sector Lending (PSL) first took shape, the structure of the Indian economy, the contribution by various sectors to GDP and the demographic profile has changed significantly. These emerging realities have also shape...Read More
Date: April 21, 2015
Recent initives of Government of India regarding Post Harvest Management and Market Development
To ensure adequate supply of fruits and vegetables in domestic market., Government has taken various measures to incentivize diver...Read More
Date: April 14, 2015
World Bank released South Asia Economic Focus report
The World Bank recently released South Asia Economic Focus report which has projected the economic growth of South Asia for the year 2016 and 2017 i.e. It will increase from 7 percent in 2015 to 7.6 percent by 2017. Together with favorable food pr...Read More
Date: April 08, 2015
RBI kept rates unchanged in Monetary policy review
The RBI in its second monetary policy review of the financial year 2015-16 has kept the repo rate unchanged at 7.5% and kept the Cash Reserve Ratio (CRR) at 4%. In the first monetary policy meeting of the financial year 2015-16,the Reserve Bank of I...Read More
Date: April 08, 2015
PM launches Pradhan Mantri MUDRA Yojana
PM launches MUDRA Bank to fund small businesses
Prime Minister has launched the Micro Units Development and Refinance Agency Ltd (MUDRA) with a corpus of Rs 20,000 crore. It has a credit guarantee corpus of Rs 3,000 crore. The MUDRA bank will be responsible for developing and refinancing, through the Pradh...Read More
Date: April 01, 2015
Government unveils new Foreign Trade Policy 2015-2020 to lift exports
The Ministry of Commerce today released Foreign Trade Policy (FTP) for the term 2015-2020.The focus of the policy is to promote exports of value-added and labour intensive manufacturing as well as services. High-tech exports too will be enc...Read More
Date: March 28, 2015
Asian Development Bank (ADB) released Asian Development Outlook 2015
The Asian Development Bank (ADB) released the Asian Development Outlook (ADO) entitled "Financing Asia’s Future Growth". The report projected that India will overtake China in terms growth rate in current ...Read More
Date: March 25, 2015
Centre approves 17 mega food parks to states, private firms
Union Government's Ministery of Food Processing has approved 17 mega food parks for food processing across the country. Out of 72 proposals received, The ministry approved 17 food parks from both state governments and private players...Read More
Date: March 23, 2015
Securities and Exchange Board of India (SEBI) approved new bonds called Muni Bond
: The SEBI on 22 March approved a new set of norms for listing and trading of municipal bonds on stock exchanges. Municipal bonds, also to be known as “Muni Bonds”, would allow authorities to raise funds i...Read More
Date: March 18, 2015
3 European Powers Say They Will Join China-Led AIIB
Germany, France and Italy has announced that they would follow Britain and join the Chinese-led Asian Infrastructure Investment Bank. With joining of these countries, the total number of the bank's member states including India has gone up to ...Read More
Date: March 07, 2015
Subsidy is a benefit given by the government to groups or individuals usually in the form of a cash payment or tax reduction. The subsidy is usually given to remove some type of burden and is often considered to be in the interest of the public ...Read More
Date: March 03, 2015
Union Government and RBI sign agreement to keep inflation below 6%
Central Government and the RBI have signed an agreement on Monetary Policy Framework in order to move towards the RBI Governor Raghuram Rajan’s view of inflation targeting. As per this agreement government has set a t...Read More
Date: March 03, 2015
JAM TRINITY SOLUTION- Subsidy Reforms
JAM is an abbreviation for Jan Dhan Yojana, Aadhaar and Mobile number. The government is pinning its hopes on these three modes of identification to direct benefits transfers to poor. It will help to stop and control the lekages in subsudy. The Aadhaar Number is...Read More
Date: March 02, 2015
Micro Units Development and Refinance Agency (MUDRA) Bank
The Finance Minister in Budget has proposed to create a Micro Units Development Refinance Agency (MUDRA) Bank, with a corpus of Rs. 20,000 crore, and credit guarantee corpus of Rs. 3,000 crore. MUDRA Bank will refinance Micro-Financ...Read More
Date: February 28, 2015
Budget 2015-16 goes for growth, delays reduction in fiscal deficit
Finance Minister Arun Jaitley presented Union Budeget for the financial year 2015-2016 aimed at high growth, saying the pace of cutting the fiscal deficit would slow as he seeks to boost investment and ensure that ordinary peop...Read More
Date: February 27, 2015
Finance Minister presented Economic Survey 2014-15
Finance Minister Arun Jaitley presented this years economic surevey in Parliament.Today Indian economy is looking-up with brighter prospects amongst the world’s major economies. The Economic Survey 2014-15 states that Indian economy app...Read More
Date: February 27, 2015
Highlights from Railway Budget 2015-16
Presenting his first and NDA government's second budget the Raiway Minister Suresh Prabhu said we must restore the strength of Bharatiya Railway as the backbone of India. Major highlights of this budget are-
I- No hike in passenger fares while, t...Read More
Date: February 25, 2015
14th Finance Commission Report accepted for 2015-16 to 2019-20
The Central government accepted recommendations of the 14th Finance Commission (FC) as per its agenda to treat the states as partners in long-term development in a spirit of cooperative federalism. The rec...Read More
Date: February 24, 2015
Commercial Banks will be allowed to take Non-callable Deposits:RBI
Recently, the Reserve Bank of India announced the banks will be allowed to take non-callable deposits to deal with their Asset-Liability Management. By allowing this, banks will be able to get long term funds which they are sur...Read More
Date: February 20, 2015
Government of India launches e-biz portal
eBiz (www.ebiz.gov.in), is a G2B (government-to-business) portal has been launched with eleven government services to bring transparency and ease of doing business in the country.
eBiz is a part of the 27 Mission Mode Projects (MMPs) under the N...Read More
Date: February 17, 2015
The Union Government has imposed anti-dumping duty on imports of graphite electrodes for the period of five years. The amount of anti dumping duty ranges between $278.19 and $922.03 per tonne.The Finance ministry decided this on the recommendations of the Directorate General of Anti-Dumping Duty (DGAD).
Objective- The Government aims to protect...Read More
Date: February 11, 2015
Hike in authorised share capital of National-Minorities-Development-and-Finance-Corporation (NMDFC)
The Union Cabinet has approbed to increase the Authorised Share Capital of the National Minorities Development and Finance Corporation (NMDFC), from Rs. 1500 crore to Rs. 3000 crore.
Date: February 04, 2015
Reserve Bank doubles forex remittance limit
The central bank has doubled the amount of foreign exchange that an individual can remit in a year under a scheme that allows asset purchase outside India. Now,$250,000 (Rs. 1.5 crore) per person per year is permitted under the Liberalised Remittance Scheme (LRS). T...Read More
Date: February 03, 2015
World Investment Report 2014
United Nations Conference of Trade and Development (UNCTAD) report 2014 shows that China has overtaken the United States (US) as the top destination for foreign direct investment (FDI). The USA holds top position since previous 11 years.
The World Investment Report provide...Read More
Date: January 31, 2015
CSO changed base year to 2011-12
The central statistical office (CSO) has announced a new series of national income accounts with 2011-12 as base year. The base year is used as the basis for comparison from base year to current year. The base year is also the year whose prices ...Read More
Date: January 24, 2015
Bond-Buying Programs of ECB
The European Central Bank (ECB) on Jan 22nd announced to introduce a big programme of quantitative easing. It announced higher-than-expected monthly bond-buying programme of 50 billion euros (£38bn) that will go on till September 2016. By September next year, more than 1 tril...Read More
Date: January 22, 2015
A Special Deposit Scheme For Girl Child
The government announced a special deposit scheme for girl child in 2014 and is being launched on 22 January 2015.The account can be opened and operated by the natural or legal guardian of a girl child till she attains the age of 10, after which she can operate it ...Read More
Date: January 21, 2015
World Employment and Social Outlook – Trends 2015 (ILO)
International Labour Organisation (ILO) released a report entittled World Employment and Social Outlook – Trends 2015 , on January 20, 2015.The report says that unemployment will continue to rise in the coming years. The repor...Read More
Date: January 17, 2015
RBI cuts repo rate by 25 basis points
The Reserve Bank of India (RBI) has decided to cut the benchmark interest rate by 0.25 per cent to 7.75 per cent under the liquidity adjustment facility (LAF), to boost growth and softening inflation. T...Read More
Date: January 04, 2015
The goods and services tax (GST) is a comprehensive value-added tax (VAT) on goods and services. It is an indirect tax levy on manufacture, sale and consumption of goods as well as services at a national level.
GST is essentially a tax on value addition, and there is seamless transfe...Read More
Date: December 24, 2014
Year end Review for the Ministry of Agriculture (2014-15)
The Ministry of Agriculture has released ite year end review for 2014-2015. Agriculture is demographically the broadest economic sector and plays a signif...Read More
Date: December 19, 2014
14th Finance Commission report submitted
The 14th Finance Commission has submitted its report to the President Pranab Mukherjee. The commission is headed by former Reserve Bank of India (RBI) governor Y V Reddy.
Finance Commission in its report has given their views on the devolution of ta...Read More