ECONOMY & NATION


IANS 04 August 2016
India moved a major step closer towards a unified goods and services tax regime across the country, with the upper house of Parliament passing the relevant Constitution amendment bill on Wednesday, in what is seen as the most radical indirect tax reform since independence.   The...

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Moneylife Digital Team 03 August 2016
On 3 August 2016, union finance minister Arun Jaitely tabled the Goods and Services Tax (GST) bill in Rajya Sabha. The GST will replace a patchwork of central and state levies on goods and services and will bring multiple taxes on goods and services and bring them under one rate. Once passed,...

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IANS 03 August 2016
1. What is Goods and Services Tax (GST)? How does it work?  The GST is a single indirect tax for the whole nation, which will make India one unified common market. It is a single tax on the supply of goods and services, right from the manufacturer to the consumer.   Credits of...

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IANS 03 August 2016
Fast moving consumer goods major Emami Ltd. on Wednesday reported a 34.59 per cent dip in its net profit to Rs 56.65 crore in the this fiscal's first quarter ended June 30 compared with Rs 86.61 crore in the corresponding period last fiscal.   The company is setting up a third...

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Manupriya (IANS) 03 August 2016
As floods ravage eastern and northern India, agriculture in 115 districts across 15 states is "highly vulnerable" to climate change, according to a study published in the Indian Academy of Science journal Current Science.   The first to analyse 38 meteorological, agricultural and...

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IANS 03 August 2016
The Bharatiya Janata Party (BJP) on Wednesday accepted the resignation of Anandiben Patel as the Chief Minster of Gujarat after she offered to resign, saying she was soon going to turn 75.   Urban Development Minister M. Venkaiah Naidu said that she had set an example for many across...

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IANS 03 August 2016
In a prediction that will being cheer to farmers, the IMD said on Tuesday that rainfall in the second half of the monsoon from August to September is likely to be above average.   The India Meteorological Department (IMD) also said that the rains in July this year had been about 7 per...

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IANS 03 August 2016
At least two buses and several other vehicles went missing near Mahad city after a bridge on the Savitri River collapsed early Wednesday due to torrential rains in the Konkan region.   The bridge, more than seven decades old and a critical link to the Mumbai-Goa national highway,...

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IANS 02 August 2016
The Mamata Banerjee government on Tuesday proposed to rename West Bengal as "Bengal", dropping "West" from its name, Parliamentary Affairs Minister Partha Chatterjee said.   "For the sake of the people of the state, its heritage and culture as well as to promote and protect its...

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Moneylife Digital Team 02 August 2016
The Reserve Bank of India (RBI) came out on Monday with its guidelines for 'on-tap' licensing of universal banks in the private sector. A minimum start-up capital of Rs500 crore; minimum promoter holding of 40% (lock-in period five years); listing of the shares within six years; and promoters'...

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Moneylife Digital Team 02 August 2016
The Reserve Bank of India (RBI) came out on Monday with its guidelines for 'on-tap' licensing of universal banks in the private sector. According to the guideline the initial minimum paid-up voting equity capital shall be Rs500 crore and thereafter the bank should have a minimum net worth of...

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IANS 02 August 2016
Indian automobile manufacturers saw higher sales in July with industry experts attributing the acceleration in demand to good monsoon and positive consumer sentiments.   “The automotive industry is in the recovering phase, with good monsoon and positive customer sentiments, the growth...

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IANS 02 August 2016
The Enforcement Directorate (ED) on Monday said it has arrested two senior former employees of non-banking finance company (NBFC) First Leasing Company of India Ltd in the over Rs.500 crore bank fraud case.   In a statement issued here, the ED said it has arrested S.Dilliraj, former...

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IANS 02 August 2016
The Lok Sabha on Monday passed a key bill empowering banks to take possession of collateral, except for farm land, in the case of loan default, even as Finance Minister Arun Jaitley asserted that a culture should not be promoted where banks only are responsible for recovery of...

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IANS 01 August 2016
The country's manufacturing sector saw a significant uptrend in July registering the highest reading since April this year, as both production and new orders rose, a key macro-economic data showed on Monday.   The Nikkei India Manufacturing Purchasing Managers' Index (PMI) -- a...

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Moneylife Digital Team 01 August 2016
The June quarter results of Indian companies have so far been good with net profits of the Nifty-50 Index (25 companies have reported so far) being 5.5% ahead of expectations. But in several cases, the results are helped at net level by non-operating factors, says a research...

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IANS 01 August 2016
The government on Monday sought Parliament's nod for additional spending of Rs 1.03 lakh crore, though the cash outgo will only be Rs 20,948.26 crore.   "Approval of Parliament is sought to authorise gross additional expenditure of Rs 1,03,013.74 crore. Of this, the proposals...

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Abhik Ghosh (IANS) 01 August 2016
On the 25th anniversary of India's economic reforms, a general consensus seems to have emerged within the country and without that the next phase reforms must address what has so far eluded agreement among the principal stakeholders: land and labour. Make in India will not happen if these two...

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Moneylife Digital Team 01 August 2016
Wonderla Holidays, one of the largest amusement park operators in India, is being dubbed as the future Disneyworld of India, although many businessmen, such as Subhash Chandra, have tried their hands in amusements parks without much countrywide success. One of the reasons is the difficulty of...

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It is useful that the memoir of former Reserve Bank of India’s (RBI) governor, Dr Duvvuri Subbarao, was released in the middle of impassioned debate about a second term for Dr Raghuram Rajan. Thanks to Dr Rajan’s rockstar-like status, the chatterati and the socialite has as many views about...

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