Even as the Centre has introduced stringent rules regarding cattle slaughter, it was business as usual for beef sellers across Kerala on Saturday, with people queuing up to buy one of their favourite food items. Chief Minister Pinarayi Vijayan wrote to Prime Minister Narendra Modi, asking for repeal of the new rules, which he termed an "intrusion into the rights of states".
Union Finance Minister Arun Jaitley on Saturday said that poor performance by private investors and banks still remains a challenge for the Indian economy.
"Despite Foreign Direct Investment (FDI) coming to India in large numbers, things are not working forcefully -- investment in domestic industry is not satisfactory level. The condition is related to banks," Jaitley t
Himachal Pradesh in a special assembly session on Saturday unanimously approved the state Goods and Services Tax (GST) Bill.
Chief Minister Virbhadra Singh, who also holds a finance portfolio, moved the bill which was supported by the main opposition party - the Bharatiya Janata Party.
The bill was passed on the second day of the house after an hour-long discussion. The hous
New Delhi ICICI Bank CEO Chanda Kochhar's total remuneration went up 64 per cent to Rs 7.85 crore in 2016-17 against Rs 4.80 crore the previous year, owing majorly to a 15 per cent increase in basic salary and Rs 2.20 crore performance bonus.
The country's largest private sector lender in its annual report 2016-17 showed Kochhar received Rs 2.67 crore as
External commercial borrowings by Indian companies in April more than trebled to USD 1.30 billion, a sizable portion of which was taken to start new projects. The ECBs were at USD 304.57 million in April last year.
The borrowings in April this year included USD 1.27 billion through the automatic route and USD 39.26 million from approval route, showed data from Reserve Bank. Besides, t
Trustees of retirement fund body EPFO may approve a proposal tomorrow to reduce the mandatory contributions toward social security schemes run by it to 10 per cent for workers as well as employers. Presently, employees and employers contribute 12 per cent of basic wages each towards Employees Provident Fund Scheme (EPF), Employee Pension Scheme (EPS) and Employee Deposit Linked Insurance Scheme
In response to clarification sought on furnishing Statement of Financial Transaction (SFT) & SFT, the ministry of finance on Friday said Section 285BA of the Income-tax Act, 1961 requires furnishing of a Statement of Financial Transaction (SFT) for transactions prescribed under Rule 114E of the Income-tax Rules, 1962.
The due date for filing such SFT in Form 61A is 31st May 2017.
The ministry of finance on Friday said that subscribers base under the Atal Pension Yojana (APY) has reached about 53 Lakhs. At present 235 Banks and Department of Post are involved with the implementation of the scheme.
Besides the branches of the banks and CBS-enabled offices of India Post, quite a few banks are sourcing subscribers through their internet banking portals in a paperl
Senior bureaucrat Sanjay Mitra has taken over as defence secretary, succeeding G Mohan Kumar, said an official statement. A 1982-batch IAS officer, Mitra earlier served as secretary in the Ministry of Road Transport and Highways.
He will have a fixed tenure of two years as defence secretary. He had also served as chief secretary of West Bengal. As defence secretary, his immediate prio
The Reserve Bank said that farmers will continue to get short-term crop loan of up to Rs 3 lakh at subsidised interest rate of 7 per cent and the rate could go down to 4 per cent if they repay promptly in 2017-18.
It said the Ministry of Agriculture and Farmers' Welfare has initiated the process for continuation of the Interest Subvention Scheme. "It has been decided by the g
The central government on Thursday said the Indian automobile sector is projected to contribute 12 per cent to the country's GDP (gross domestic product) over the next decade.
This was stated by Girish Shankar, Secretary, Ministry of Heavy Industries and Public Enterprises, at the Confederation of Indian Industry's (CII) 'International Automotive Supply Chain Conclave
Permitting foreign firms to fully own a domestic airline could have serious security implications, besides giving rise to other issues, the Federation of Indian Airlines (FIA) has told the government.
"The decision to relax the foreign investment norm (in aviation) to 100 per cent is unprecedented. No substantive country allows this," the FIA wrote in a recent letter to
The proposed Goods and Services Tax (GST) rates on sugar, tea, coffee (other than instant coffee) and milk powder will be much lesser than prevailing taxes, the Finance Ministry said on Thursday.
"Sugar attracts specific central excise duty of Rs 71 per quintal, plus cess of Rs 124 per quintal, which translates to ad valorem rate of more than 6 per cent. Including incidence
Sentiment in real estate sector has improved post demonetisation but the industry is still in 'wait and watch' mode due to lack of clarity on reforms, including the new real estate law and GST, a study said as per the PTI report.
Property consultant Knight Frank India and FICCI today released its real estate sentiment index, based on a quarterly survey of key supply-side stake
Central banks of five countries, including India and Australia, welcomed publication of the FX Global Code, a single global code of conduct for the wholesale foreign exchange market, reported PTI. The code was launched after it was endorsed at the Global Foreign Exchange Committee meeting in London on May 24.
The Bank of Korea (BOK), the Hong Kong Monetary Authority (HKMA), the Moneta
The government may prune the goods and services shipment target of USD 900 billion fixed for 2020 when it unveils a mid-term review of India's foreign trade policy later this year, exporters' body FIEO said as per the PTI report.
The downward revision may be to the tune of around USD 700 billion as India's exports performance has been dismal in the last couple of years owi
The Reserve Bank of India on Thursday fixed the reference rate of the rupee at 64.5088 against the US dollar and 72.4692 for the euro.
The corresponding rates were 64.8586 and 72.4730, yesterday. According to an RBI statement, the exchange rates for the pound and the yen against the rupee were 83.7711 and 57.74 per 100 yens, respectively, based on reference rates for the dollar and cr
The government has approved the setting up of an All India Institute of Medical Sciences (AIIMS) in Kamrup in Assam which would offer super-speciality healthcare to people in the region.
The Union Cabinet, chaired by Prime Minister Narendra Modi, approved the project to be constructed at a total cost of Rs 1,123 crore. The medical institute, to be set up under the ‘Pradhan Mantr
UIDAI has said that it is not mandatory to provide age proof for Aadhaar enrolment but a valid document is required to correct the date of birth registered for the unique identity.
Commenting on the issue, a senior UIDAI official told the media, "It is not mandatory to provide document for age proof for getting Aadhaar. Many people in the country may not know their date of birth
The Indian Government has said that it has approved raising of Rs 2,360 crore through bonds for renewable energy projects in the current fiscal.
Commenting on the issue, Ministry of New and Renewable Energy told the media, "The Cabinet chaired by the Prime Minister Narendra Modi has given its approval to raising of bonds of Rs 2,360 crore for renewable energy."
The Finance Ministry has said that around 12.54 lakh Point of Sale (PoS) terminals were added in January-March this year, giving a boost to government's efforts to promote digital transactions after demonetisation. As per reports, with the addition, the total number of PoS terminals increased to 27.73 lakh at the end of March 2017.
Commenting on the issue, a Finance Ministry Offic