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Business Standard: Economy and Policy

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Economic News: Read Latest Economic News headlines, monetary policy highlights, Budget, RBI bulletin, news on Interest Rates, Indian economy, and analysis, from Business Standard.
Updated: 16 min 27 sec ago

Policy makers discuss ways to boost economy

6 hours 20 min ago
A number of such meetings are planned before the prime minister is given a detailed presentation on the economy
Categories: India News

Stimulus package in the works: Focus may be on affordable housing

6 hours 40 min ago
Cabinet on Wednesday decided to merge 17 government-owned presses into five units
Categories: India News

Working with FinMin, NITI Aayog to resolve exporters' issues: Suresh Prabhu

6 hours 48 min ago
Prabhu said that ensuring growth of exports was the priority of the ministry
Categories: India News

Oppn, RSS affiliates line up protests against govt during Winter Session

6 hours 55 min ago
New Delhi, 20 SeptemberThe Narendra Modi government faces narrative altering next two months. As it brainstorms a policy initiative to spur economic growth, criticism of the government's economic policies is increasing not just from the Opposition and on social media, but within the party and the Sangh Parivar.Rashtriya Swayamsevak Sangh (RSS) affiliates have let the government know of their concerns on the steep diesel and petrol prices, poor job growth, agrarian distress and the difficulties that traders and small business persons are facing with the Goods and Services Tax (GST).Protests by RSS affiliates, trade unions affiliated to Opposition parties and farmer groups are set to reach a crescendo during the winter session of Parliament.The Congress will hold protests against high diesel and petrol prices in big urban centres on Thursday. The Opposition parties are also planning a huge public rally in southern India. To coincide with the winter session of Parliament, farmer groups, .
Categories: India News

Railway employees to get 78 days productivity-linked bonus

7 hours 33 min ago
This does not include the Railway Protection Force and the Railway Protection Special Force personnel
Categories: India News

'Politics of polarisation' a central challenge in India: Rahul Gandhi

7 hours 52 min ago
In the 21st century, if you leave some people out of your vision, you are asking for trouble: Rahul Gandhi
Categories: India News

Transporters yet to shrug off GST blues

8 hours 3 min ago
Diesel prices raising costs; demand low on most routes
Categories: India News

Debarred firm directors may approach courts

8 hours 47 min ago
Legal experts claim retrospective application of company law provisions
Categories: India News

2.2 mn GST returns filed till 6 pm, deadline ends midnight

10 hours 4 min ago
GST Council has allowed businesses to file their initial tax returns in form GSTR-3B in the first six months of GST rollout
Categories: India News

Govt wants to create separate segment for MSP sales within e-NaM portal

10 hours 6 min ago
The Centre is in favour of creating a separate segment within the existing electronic National Agriculture Market (e-NaM) portal to record purchases done under the Minimum Support Price (MSP) mechanism segregated from online bidding.Though in principle, officials said it is opposed to the whole practice given that selling of agriculture produce at pre-determined MSP through the e-NaM portal belies the entire concept of price discovery through open competitive bidding and superficially jacks up the quantum of total transactions, but it might not be entirely avoidable as it also ensures transparency in payment to farmers. The matter came to light after some states showed huge jump in transactions made through e-NaM after they started showing purchases done under MSP operations through e-NaM.In the review of the programme, which agriculture minister Radha Mohan Singh had with his state counterparts today, officials said that it was once again emphasized that physical trading of ...
Categories: India News

CBDT proposal on advance estimates of tax liability irks industry

10 hours 31 min ago
A draft notification by the Central Board of Direct Taxes (CBDT) has not gone down well with the industry which said it would increase compliance burden on them at a time when they are already struggling to cope up with issues of GST. However, some of them said that the notification is aimed at bringing about transparency. The CBDT had proposed that companies and taxpayers who have to get their accounts audited will be required to submit their income estimates and tax liability for six months of the financial year to the I-T department by November 15.It had come out with a draft notification seeking stakeholders' comment on filing of Form 28AA by giving details of income and advance taxes paid.Naveen Wadhwa of Taxmann says currently taxpayers are struggling with compliance burden after introduction of GST, the Income Computation and Disclosure Standards (ICDS) norms and Indian Accounting Standard (Ind-AS). "Such reporting will put additional compliance burden on taxpayers," he ...
Categories: India News

ED attaches assets worth Rs 1.53 crore in Gaya

11 hours 6 min ago
The central probe agency said it has issued a provisional attachment order against two flats and a house in Muzzafarpur in the state along with some bank deposits, under the provisions of PMLA
Categories: India News

South Korea calls for wider trade deal ahead of Prabhu's Seoul visit

11 hours 16 min ago
The government of South Korea has expressed a desire to widen the existing trade agreement with India, a day before commerce and industry minister Suresh Prabhu is to visit Seoul for a review.However, the Government of India (GoI) might not be keen on broadening the terms, a senior commerce department official indicated. Pointing to the massive gold import from Korea in recent months apart from remaining non-tariff barriers, he said many parts of the Comprehensive Economic Partnership Agreement (CEPA) of 2009 needed working on.On Wednesday, Young Sam Kim, the Korean deputy minister for trade, industry and energy, observed that the CEPA had increased bilateral trade volumes by 50 per cent. And, added that the list of items covered could be increased; the terms on rules of origin should be strengthened. He was speaking at the Korea-India Economic Cooperation Forum.Indian companies have repeatedly contended that the CEPA benefits Korean companies much more than Indian ones. They note, ...
Categories: India News

Trai asks telcos to cut voice costs to level of OTT applications

12 hours 40 min ago
After having cut call termination charges to six paise a minute, the Telecom Regulatory Authority of India (Trai) wants mobile telephone operators to reduce their voice call costs to the level of over-the-top (OTT) applications. The latter's voice call costs are a fraction of a paisa a minute, as against 30-35p a minute in traditional second-generation technology (2G) networks. Trai says this shift is possible if all service providers implement advanced IP-based networks. This would also result in mobile termination charges (MTCs) becoming redundant.Mukesh Ambani-owned Reliance Jio has an all IP-based network, due to which its voice costs are much lower. OTT applications like WhatsApp, Skype, Hike, etc, are able to deliver voice communications at a fraction of a paisa per minute. And, these are expected to continue to decline, as data rates reduce with implementation of new technologies."In this backdrop, it would be virtually impossible for a telecom service provider to compete ...
Categories: India News

IUC maths scientific, no question of favouring or harming anyone: Trai

12 hours 47 min ago
Trai decided yesterday to slash charge paid by an operator for terminating a mobile call on a rival network to 6 paise a minute
Categories: India News

Indian investments into GCC touching $3 bn: Report

12 hours 57 min ago
The GCC is a political and economic alliance of Saudi Arabia, Kuwait, the UAE, Qatar, Bahrain, and Oman
Categories: India News

Railway freight loading rises 5% during Apr-Aug

12 hours 59 min ago
The increase in freight volume was mainly due to double-digit growth rates in originating loading for steel, iron ore, cement, container
Categories: India News

Centre to hand over ITDC hotels in Jaipur, Mysore, Itanagar to states

13 hours 10 min ago
This was as part of disinvestment exercise, which has been formulated in line with view that managing hotels is not the job of the govt or its entities
Categories: India News

India's edible oil output to hit all-time high of 7.7 mn tonnes in 2017-18

13 hours 34 min ago
September rainfall raises prospects of better rabi crop after a poor kharif oilseed output this year
Categories: India News

South Korea to broaden FTA scope with India to boost trade, invesment

13 hours 37 min ago
There is a need to enhance cooperation in manufacturing and infrastructure sectors according to South Korean Deputy Minister for trade, industry and energy Young Sam Kim
Categories: India News