Category Archives: Economy

China plans a 1,000-km tunnel to divert water of river Brahmaputra

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.

Continue reading

Follow us :

RBI and IRDAI object to new bankruptcy bill

NEW DELHI: The Reserve Bank of India and the country’s top insurance regulator, Insurance Regulatory and Development Authority, have objected to a draft law on bankruptcy in financial institutions, saying some of its provisions undermine their authority.

Continue reading

Follow us :

PM launched Sobhagya scheme and formed a new Economy team

NEWDELHI: Prime Minister Narendra Modi constituted on Monday his first economic advisory council, headed by NITI Aayog member Bibek Debroy, to analyse and advice him on key issues amid concerns over slowing growth and a stagnating job market. Continue reading

Follow us :

Finance ministry notified the issue of rs. 200 currency notes

NEW DELHI: On Wednesday, the finance ministry notified the issue of ₹200 currency notes, making them legal tender and paving the way for their circulation.

On April 3, Mint first reported RBI’s plan to introduce ₹200 banknotes. On July 25, Mint reported that RBI had shifted focus from printing ₹2,000 notes to ₹200 notes of which a billion were expected to be printed. Continue reading

Follow us :

Niti Aayog vice chairman quits, will resume teaching

NEWDELHI: The 64-year-old professor of economics was picked by Prime Minister Narendra Modi in January 2015 to head the National Institution for Transforming India, better known as Niti Aayog, the government’s policy think tank, which replaced the Planning Commission.

Continue reading

Follow us :

PM Modi says- GST will promote a culture of honesty

NEW DELHI: On Sunday, Prime Minister Narendra Modi said in his monthly radio address that the Goods and Services Tax is not just a tax reform, it is an economic model that will promote the culture of honesty.

“The GST, which I call the good and simple tax, has shown a positive impact on the economy in a short time,” Modi said in the 34th edition of the Mann Ki Baat as the ‘one-country, one-tax’ regime entered its 30th day. Continue reading

Follow us :

IRDAI approved SBI life’s IPO worth 6000-7000 cr.

MUMBAI/CHENNAI: The Insurance Regulatory and Development Authority of India has approved SBI Life Insurance Co Ltd’s application for an initial public offering (IPO), which is likely to be worth rs.6,000-7,000 crore, the largest public share sale thus far in the life insurance business. An IRDAI official said on condition of anonymity that the insurance regulator approved SBI Life’s IPO a few days back.

Continue reading

Follow us :

PM Modi GST and Demonitisation discussion at an event of Charted Accountants

NEWDELHI:

Prime Minister Narendra Modi on Saturday said the government has identified over 3 lakh companies for indulging in dubious transactions after last year’s demonetisation drive.

An additional 37,000 plus shell companies involved in converting black money into white have also been traced, he said.

Hailing the note ban as a move against black money and corruption, he said data mining process to scan the record of money deposited after demonetisation was under way and promised action against defaulters with out thinking about its political implication. “Initial probe has put three lakh companies under scanner,” Modi said at an event of chartered accountants.

Continue reading

Follow us :

At Midnight, PM Modi and President Mukherjee welcomed “Goods and Simple Tax”

NEWDELHI: Pressing a button at the stroke of midnight on Friday, President Pranab Mukherjee and Prime Minister Narendra Modi launched India’s biggest tax reform from the historic central hall of Parliament, cheered on by some of the country’s top names in politics, business and law.

It was a luxury welcome for the long-awaited Goods and Services Tax (GST), ending a 14-year struggle to enlist political support for a move that will replace some 20 federal and state levies and unify a country of 1.3 billion people into one of the world’s biggest common markets. Continue reading

Follow us :

INDIGO is interested in the stakes of Air India

NEWDELHI: India’s biggest budget airline, Indigo, has expressed unsolicited interest in Air India Ltd, becoming the first suitor to toss its hat in the ring after the Union cabinet approved a proposal to privatise the airline.

Run by Inter Globe Aviation Ltd, the airline that operates more than 900 flights daily to destinations in India and overseas sent in its interest on Wednesday night, minister of state for civil aviation Jayant Sinha said. It came within hours of the cabinet approving the privatisation of Air India and five of its subsidiaries.

For more updates and latest news, start following Newspaper Cuttings.

Source : Hindustan Times 

Follow us :