The Budget Session of Parliament will begin on January 29, and the Budget for 2018-19 will be presented by the Finance Minister on February 1. It will extend till April 6, said Parliamentary Affairs Minister Ananth Kumar said on Friday. The Presidential address by Ram Nath Kovind will be delivered on Continue reading
Posted in Economy, NATIONAL NEWS
Tagged 2017, ananth kumar, arun jaitley, finance minister, houses of parliament, parliament affairs minister, parliament sessions, president of india, ram nath kovind, union budget 2018
The ministry of finance on Friday cautioned people against the risks of investing in virtual currencies such as Bitcoin that are not backed by government fiat, and compared them with Ponzi schemes.
This follows a crackdown by the South Korean government on trading of Bitcoins which led to a 8% drop in its value on Thursday. Currently, the value of Bitcoin is around $15,000. The rapid rise in the value of the virtual currency this year has attracted the attention of not just speculators but also unsophisticated retail investors who often do not understand the risks involved. The virtual currency was valued at $1,012.4 on Continue reading
Posted in Economy, NATIONAL NEWS
Tagged bitcoins, consumer, crash, currency, digital, electronic, finance ministry, industrialist, investment, investor, money, ponzi schemes, scam, virtual currency
Rail passengers may soon pay less for tickets on premium trains such as the Shatabdi, Rajdhani and Duronto during the off-season or even otherwise when the trains are not fully booked, railway minister Piyush Goyal said in an interview.
Indian Railways moved to a flexi-fare system for these trains in 2016, but this only saw fares moving in one direction — up. For instance, fares would rise 10% after 10% of the seats were sold. The move helped Indian Railways, which made an additional ₹540 crore from it between September 2016 and August 2017, according to media reports. Continue reading
Posted in Economy, NATIONAL NEWS, New Schemes
Tagged delhi to mumbai, doronto, express, fares, indian railway, minister of state (independent incharge), nizamuddin, piyush goyal, premium trains in india, railway minister, rajdhani, running status, schedule of train, shatabdi, status of train, timing change
NEWDELHI: Israeli Prime Minister Benjamin Netanyahu is scheduled to arrive in India for a threeday visit on January 14 as the two countries work towards a free trade agreement.
The two countries are also working on a proposal for the Heron TP, medium-altitude, long-endurance, unmanned aerial vehicle (UAV) developed by Israel Aerospace Industries (IAI) to meet multiple mission needs of the Indian armed forces.
Upon his arrival, Netanyahu will be received by Prime Minister Narendra Modi in Ahmedabad, like he did China’s Xi Jinping and Japan’s Shinzo Abe. Continue reading
Posted in Economy, NATIONAL NEWS, Politics, Technology, WORLD NEWS
Tagged asian partner, Benjamin Netanyahu, China’s Xi Jinping and Japan’s Shinzo Abe., defence security partner of india, first indian pm to visit israel, foreign leaders visits in india 2017, israel prime minister, Narendra modi
LONDON: India has 340,000 people in the top 1% of global wealth holders accounting for a 0.7% share, including 1,820 with wealth over $50 million and 760 having more than $100 million, according to a new global wealth report released Tuesday.
The Zurich-based financial services major Credit Suisse estimates there could be 370,000 millionaires in India in 2022.
Since the financial crisis broke in 2008, the report says global wealth has grown by 27%. In the 12 months to mid-2017, it grew at a faster pace than in recent years, with mean wealth per adult reaching a record high.
“The United States continued its unbroken spell of gains since the financial crisis, bolstered by strong market conditions. It added $8.5 trillion to the stock of global wealth, which is half of the wealth generated globally over the 12 months to mid-2017.”
In percentage terms, India’s stock of household wealth during the period grew at 10.1%, although its addition to total global wealth was limited to $451 billion.
Posted in Economy, NATIONAL NEWS, WORLD NEWS
Tagged billionaires in india, how rich india is, indians, investment in india, London, millionaires in india, money in india, poverty, switzerland, The Zurich-based financial services major Credit Suisse, U.S., wealth of india, wealth report 2017
The Malaysian Budget carrier AirAsia on Sunday announced a discount sale, offering passengers one-way base fare at Rs 99 for a domestic journey across its Indian JV airline network and Rs 444 for international flights under a limited period offer.
However, the travel period under the offer, for which the bookings commence on Sunday night, will be between May next year and January 2019, as per an airline statement on Sunday.
Posted in Economy, NATIONAL NEWS, New Schemes, Technology, WORLD NEWS
Tagged air asia india, airline, aviation, connected flights, coupon, discount, domestic flights, flight tickets on sale, hotels discount, international flights, mobikwik
NEWDELHI: India set to purchase 111 naval utility helicopters (NUHs) on Tuesday, with the defence ministry approving a ₹21,738-crore project to replace the Navy’s outdated fleet of French-designed Chetak choppers.
The government’s defence acquisition council (DAC), headed by defence minister Nirmala Sitharaman, has taken this decision at a time when the Navy is struggling to bridge capability gaps and a majority of its 140 war suppliers ships are operating without utility helicopters.
A number of policy reforms has helped India significantly improve its business climate, an annual World Bank index showed on Tuesday, burnishing Prime Minister Narendra Modi’s reformist credentials that could help him win big-ticket investments.
For the first time, India jumped a record 30 places to 100 in the Ease of Doing Business report for 2018, which is an influential 190 country barometer of competitiveness that many businesses likely consider for investment decisions. Continue reading
Posted in Economy, Infrastructure/Property, NATIONAL NEWS, WORLD NEWS
Tagged arun jaitly, Business, country, ease of doing business, economy, investment, Narendra modi, policies, policy, ranking. india, reforms, world bank
BEIJING: Top scientists backed by the ruling Communist Party of China are working on a plan to drain the Yarlung Tsangpo (Brahmaputra) river near the Indian border and divert the water through a 1,000-km tunnel, the world’s longest, to arid Xinjiang.
The Tsangpo flows into India through Arunachal Pradesh as the Siang before becoming the Brahmaputra in Assam — the source livelihood for millions in the country’s northeast.
Posted in Economy, Education, Environment, NATIONAL NEWS, Natural Calamities
Tagged 1000 km ., arunachal pradesh, brahmaputra river, crrisees, divert, drain, government, longest tunnel in chcina, northeast india, plateau, tibet, water problems, yarlung tsangpo