ECONOMY & NATION


New Delhi: The Income Computation and Disclosure Standards (ICDS) shall be now applicable from April 1, 2016 instead of April 1, 2015, since tax payers might have already filed income tax return without incorporating compliance with the ICDS, the Finance Ministry said here on...

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Admiral Arun Prakash -Retd (IANS) 07 July 2016
If the recent induction of the indigenous Tejas Light Combat Aircraft (LCA) has received a muted welcome from the IAF, there are very good reasons for it. While the nation and the defence-industrial complex may celebrate a milestone in military indigenisation, the service, charged with the...

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New Delhi: The Union government on Wednesday set up a four-member committee to examine the desirability and feasibility of having a new financial or fiscal year, an official statement said.   "The committee, headed by former Chief Economic Adviser Shankar Acharya, will examine the...

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Rekha Bhattacharjee (IANS) 07 July 2016
Lawyers here are all set to lodge a class action in the Australian Federal Court (AFC) on Thursday to demand freezing of the Chandigarh-based Pearl Group's real estate assets in Australia.   It has been alleged that Pearl Group was running a ponzi scheme which had swelled to over Rs...

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As consumers wait to see the cheapest smartphone (less than $4) at its scheduled launch in the capital on Thursday, its Noida-based makers have made another pitch for the government's support to make their loss-making venture "work for millions" who don't own such a phone.   According...

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Telecom regulator TRAI has said it will soon float a consultation paper to decide on the service quality norms for mobile data.   TRAI Chairman R.S. Sharma said a consultation paper to fix quality of service benchmark for wireless data will be issued soon, which will be put on the...

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Doubting India's claim of a 7.5% growth, the economic diplomacy arm of the US State Department has said that the Indian government must pursue reforms to match the rhetoric even as key bills struggle to get past parliament.   "Ostensibly, India is one of the fastest growing countries...

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Moneylife Digital Team 06 July 2016
During the first quarter of FY2017, automobile manufacturers are likely to report a moderate growth in net profit due to lower margin trajectory, says a research report.   In the note, Religare Capital Markets Ltd says, during the June quarter auto companies under its coverage are...

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Lawrence Haddad (IANS) 06 July 2016
It may seem like a no-brainer to say that we need data to guide efforts to end malnutrition. Would you run an economy without a regular stream of credible data? You'd be flying blind if you did, and we know what happens if you try to do that. And yet this is precisely the situation that those...

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Giving a clear message that controversy is no substitute for good work, Prime Minister Narendra Modi on Tuesday removed his one-time handpicked high-profile Smriti Irani from the crucial Human Resource Development Ministry and gave her the responsibility of the low-profile Textiles...

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The union cabinet which met here on Tuesday with Prime Minister Narendra Modi in the chair approved the interest subvention scheme for farmers for 2016-17.   "The government has earmarked a sum of Rs18,276 crore for this purpose. This will help farmers getting short term crop loan...

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Strong manufacturing industry lifted Indian economy while business activity in the service sector rose at its second lowest rate in the current 12-month period of growth in June, key macroeconomic data showed on Tuesday.   The Nikkei India composite PMI (purchasing managers' index)...

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Saddled with huge unsold inventory, the number of new launches across eight cities in the housing market reduced by nine per cent in the last six months, real estate consulting firm Knight Frank India said on Tuesday.   "New launches reduced by nine per cent in six months from 117,200...

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New Delhi : Minister of State Prakash Javadekar was sworn in as a cabinet minister on Tuesday as Prime Minister Narendra Modi brought about major changes in his ministry.   In a solemn function at Rashtrapati Bhavan, others who joined his ministry as Ministers of State included Faggan...

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Amit Kapoor (IANS) 05 July 2016
Logistics forms the backbone of domestic and international trade in any economy and is a critical factor for competitiveness. Besides providing employment and movement of goods, an efficient logistical network enables increases in the speed of doing business.   A pertinent question is...

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Private equity investments in India, excluding the real estate sector, added up to $5.8 billion in the first six months (H1) of the calendar year 2016, nearly 46% less than $10.6 billion recorded during the same period last year, an online research platform said on Monday.   "On the...

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The Supreme Court on Monday said that it will examine whether a lawmaker could have stakes in an entity that has business transactions with the government.   Telling the petitioner, retired bureaucrat S.N.Shukla, that the issue needs to examined, the bench of Justice J. Chelameswar...

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Moneylife Digital Team 04 July 2016
Actual and announced investment slowed significantly in first quarter (Q1) of FY17, pulled lower by the private sector. Investment in projects under implementation across sectors also slowed in Q1-FY17 with the value of stalled projects remaining near an all-time high while there was no...

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Two- and three-wheeler major Bajaj Auto on Monday reported a 4% decline in its total sales for June.   According to the company, its total sales during the month under review stood at 316,969 units from an off-take of 331,317 units during the corresponding month of...

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Leading human resources services firm TeamLease Services Ltd on Monday announced acquiring ASAP Info Systems Ltd for Rs67 crore through its subsidiary.   "The transaction, which will be accretive to our earnings per share (EPS), will be funded from internal resources by August,"...

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