ECONOMY & NATION


Abhishek Waghmare (IANS) 12 April 2017
A good monsoon that led to record sowing and production of pulses -- especially tur dal (pigeon pea) -- has almost halved their wholesale and retail prices in 2017, a year after dal prices skyrocketed to Rs 200 per kg in some cities at the end of 2015.   In many state-regulated...

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New Delhi, The Supreme Court on Tuesday said that any extension of time for depositing demonetised currency notes of Rs 500 and Rs 1,000 would be available to all and not be individual-centric.   Hearing a batch of petitions against the government decision not to extend the deadline,...

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New Delhi, The domestic passenger vehicles sales rose by 9.96 per cent in March, industry data showed on Tuesday.   According to the Society of Indian Automobile Manufacturers (SIAM), sales of passenger vehicles, including the off-take in cars, utility vehicles and vans, surged to...

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New Delhi, In another move to improve ease of doing business in India, the Income Tax Department has tied up with the Corporate Affairs Ministry (MCA) to issue Permanent Account Numbers (PAN) and Tax Deduction Account Numbers (TAN) within a day, an official said on Tuesday.   "The...

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New Delhi, The central government on Tuesday announced its decision to block accounts of those individuals who do not provide self-certification by April 30.   This would be done in order to comply with the provisions of the Foreign Account Tax Compliance Act (FATCA).   "This...

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Amit Kapoor (IANS) 11 April 2017
The Reserve Bank of India's (RBI) first monetary policy review of fiscal 2017-18 was presented last week amidst expectations of a status quo on the interest rates and speculation of action on a few irritants like the problem of excess liquidity. As expected, the repo rate was left untouched....

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New Delhi, The Competition Commission of India (CCI) on Monday said that it has approved the acquisition of Reliance Retail's dairy business by Heritage Foods, owned by Andhra Chief Minister N. Chandrababu Naidu.   In a tweet, the CCI said: "CCI_India approves acquisition of dairy...

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Bengaluru, Seasonal weakness is likely to keep the growth of the Indian IT industry muted in the fourth quarter (January-March) of 2016-17, said global investment banking firm Jefferies LLC on Monday.   "Cross currency will be favourable on dollar revenue and margins stable," said the...

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Bangalore, E-commerce major Flipkart on Monday said it has raised a total of $1.4 billion from Tencent, eBay and Microsoft.   The latest funding round, at a post-transaction valuation of $11.6 billion, is the largest in Flipkart's 10-year history as well as in the Indian internet...

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New Delhi, A draft legislation to amend the Motor Vehicles Act to impose stiffer penalties on traffic rules violations and to protect the Good Samaritans from legal harassment was passed by the Lok Sabha on Monday.   The bill proposes hefty penalties for various traffic offences,...

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New Delhi, Ninety-six per cent of Indians want the Motor Vehicle Act (Amendment) Bill, 2016 to be passed in the ongoing parliamentary session. They also believe the move will help meet the UN mandate to reduce road accidents up to 50 per cent by 2020, said a survey on Sunday.   The...

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New Delhi, The CBI on Sunday registered cases against a Chandigarh-based company and three of its directors for cheating a bank in Punjab of over Rs 1,300 crore, officials said.   The Central Bureau of Investigation also registered cases against a Jabalpur-based company and four of...

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Reshma Patil (IANS) 10 April 2017
China has emerged as one of the fastest-growing sources of Foreign Direct Investment (FDI) into India -- it was 17th largest in 2016, up from the 28th rank in 2014 and 35th in 2011.   In 2011, the total Chinese investment in India was $102 million. Last year, a record $1 billion of...

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Most financial dailies and newspapers carried editorials or opinions on farmers’ loan waivers, following the anguish expressed by the Chairman of State Bank of India (SBI) on the scheme announced by the Uttar Pradesh (UP) government. The Reserve Bank of India (RBI) Governor, releasing the...

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New Delhi, State Bank of India's bad loans have ballooned approximately 50 per cent in the span of a year and those of its five associate banks by 170 per cent.   The bank will likely have to increase its provisioning for bad loans -- setting aside money to partly cover the...

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Mohit Dubey (IANS) 07 April 2017
Having waived the loans of marginal and small farmers -- as promised in the run-up to the assembly polls -- the Uttar Pradesh government may well find itself carrying an unprecedented financial burden in the days to come.   While officials and ministers in the Yogi Adityanath...

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New Delhi, Advised by the telecom regulator, Reliance Jio on Thursday said it will withdraw the three months complimentary benefits of Jio Summer Surprise, "as soon as operationally feasible, over the next few days".   "Today, the Telecom Regulatory Authority of India (TRAI) has...

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New Delhi, Decks have been cleared for implementation of the biggest indirect tax reform since independence, with parliamentary approval to the GST as Rajya Sabha on Thursday passed the four enabling bills for its roll out, possibly from July 1.   The long-awaited four bills --...

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New Delhi, Telecom service provider Bharti Airtel on Thursday said it has sacked Pallab Mitra, Vice President and Head, Alliances for allegedly violating the code of conduct.   In a letter to the employees, the company said: "All employees are hereby advised that the company has...

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Chennai, Car maker Toyota Kirloskar Motor on Thursday said it is recalling 23,157 units of Corolla Altis over their faulty airbags.   "23,157 units of Corolla Altis manufactured between January 2010 to December 2012 are affected," a company spokesperson told IANS.   The airbag...

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