Cooperation, terror to figure on Narendra Modi`s Europe tour

 Bilateral cooperation on economic, defence, science and technology, and nuclear fronts, parleys on EU-India Free Trade Agreement, and fight against terror will top Prime Minister Narendra Modi's agenda during his four-nation tour of Europe from Monday.

Modi will visit Germany for the biannual Inter-Governmental Consultations (IGC); Spain on what will be an Indian Prime

Bihar lacks in implementation of rural schemes: MoS Rural Development

As Chief Minister Nitish Kumar met Prime Minister Narendra Modi here, the Rural Development Ministry on Saturday termed Bihar as one of the least performing states in implementing the central government's rural housing project or in creating Open Defecation Free (ODF) districts.

According to the ministry, there isn't a single ODF district in Bihar, and just five houses ha

Modi government generated 813 crore man-days of rural work in 3 years: Tomar

 The government created rural employment opportunities of more than 813 crore man-days during the last three years under MGNREGA, Pradhan Mantri AawasYojna, Grameen (PMAY-G) and Pradhan Mantri Gram Sadak Yojna (PMGSY) schemes, Union Rural Development Minister Narendra Singh Tomar said on Saturday.

"During the last three years while 636.78 crore person days were generate

Publishers urge government to keep books out of GST net

The Federation of Educational Publishers in India (FEPI) on Saturday urged the government to addresses some "inadvertent anomalies" that have crept into the tax structure for books under the proposed GST regime.

Addressing its concerns to Prime Minister Narendra Modi and Finance Minister Arun Jaitley, the FEPI -- an umbrella body of over 2,000 publishers -- said that ac

Pinarayi Vijayan asks Prime Minister to repeal new cattle sale rules, beef sellers do brisk business

 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".

Poor show by banks, private investors challenge to growth: Arun Jaitley

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 assembly passes state GST Bill

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

Chanda Kochhar's total remuneration up 64% in 2016-17

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

India Inc's overseas borrowings treble to $1.30 bn in Apr

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

EPFO may reduce PF contributions to 10%

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

CBDT clarifies on furnishing SFT & SFT preliminary response

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.

Atal Pension Yojana reaches 53 lakhs subscribers` base: Finance Minister

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

Sanjay Mitra takes charge as defence secretary

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

Farm subvention scheme on crop loans to continue at 7%

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

Auto sector projected to contribute 12% to GDP over next decade

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

100% FDI in domestic airlines poses security risks, says FIA

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

Proposed GST rates on sugar, tea lower

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

26/05/2017 10:58:47 AM | Posted in Commodity Top News read full news
Real estate cos waiting for clarity on GST, new law: Study

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 throw their weight behind Forex Global Code

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

Government may trim $900 bn shipments target in FTP review: FIEO

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

RBI sets rupee reference rate at 64.5088 against dollar

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

Cabinet approves setting up of AIIMS in Assam

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

Not compulsory to provide age proof for Aadhaar enrolment: UIDAI

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

Government approves raising capital from bonds for energy projects: Reports

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."

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Around 12.54 lakh PoS terminals added in January-March qrtr: Finance Ministry

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