Business

October 1, 2015 6:11 PM

Tax dept to take action against foreign black money holders: Revenue secy

Revenue Secretary Hasmukh Adhia, said the tax department will initiate action against those who have not disclosed their black money and assets stashed abroad as the compliance window has closed yesterday. Talking to reporters in New Delhi, Mr Adhia said the window was the last opportunity for peopl...

October 1, 2015 6:11 PM

Need to provide conducive environment to start-ups to grow: DIPP

Department of Industrial Policy and Promotion, DIPP's Secretary Amitabh Kant has said lots of start-ups are coming up in the country and there is a need to provide them a conducive environment for their growth. Talking to reporters in New Delhi, he said there is need to exempt start-ups fro...

October 1, 2015 6:10 PM

State Bank of Patiala reduces its Base Rate by 30 basis points

State Bank of Patiala today reduced its Base Rate by 30 basis points with effect from 5th October after the Repo Rate cut by RBI, which will lead to lower EMIs for its customers. Bank said in a press release that with this, all the loans like home and car linked to Base Rate will now become cheaper.

October 1, 2015 1:23 PM

Legacy issues need to be worked out: CEA

Chief Economic Advisor Arvind Subramaniam says, Legacy issues that have held back private investments need to be worked out. He says that reforms in taxation, improving ease of doing business and stepping up of public investments should be the focus to perk up the economy. However, he ruled out any ...

October 1, 2015 1:01 PM

India's manufacturing output slips to 7 month low in September

India's manufacturing sector output slipped to a seven-month low of 51.2 in September. A composite monthly indicator of manufacturing performance - Purchase Manager's Index (PMI) - stood at 51.2 in September, down from 52.3 in August.According to the survey, PMI was weighed down by...

October 1, 2015 12:32 PM

Growth of eight core sectors increases to 2.6% in August

The growth of eight core sectors increased to 2.6 per cent in August after a slower 1.1 per cent in July. The 2.2 per cent cumulative growth in April to August, however, still remains less than the corresponding figure previous year, which was 5.6 per cent.According to the data released by the Comme...

October 1, 2015 11:30 AM

India's manufacturing output slips to 7 month low in September

India's manufacturing sector output slipped to a seven-month low of 51.2 in September. The Nikkei India Manufacturing Purchase Manager's Index (PMI) -- a composite monthly indicator of manufacturing performance -- stood at 51.2 in September, down from 52.3 in August.According to th...

September 30, 2015 8:48 PM

Black money: No proceedings under the FEMA against declarant, says RBI

The Reserve Bank today said that no action under Foreign Exchange Management Act, 1999 will be taken against declarations under one-time black money compliance window, which ends today.In a communication to banks, the Reserve Bank said no proceedings shall lie under the FEMA against the declarant wi...

September 30, 2015 8:01 PM

Govt cuts natural gas prices by 16% to $ 4.24 per unit

The government today cut natural gas prices for power and fertiliser sector by 16 per cent to USD 4.24 per unit for the six month period, beginning October 1st.Natural gas prices, according to a formula approved by the government in October last year, will fall to 4.24 US dollar million British ther...

September 30, 2015 7:41 PM

India overtakes US, China as top FDI destination in first half of 2015

India has emerged as the top destination for Foreign direct investment (FDI) as compared with China and United states in the first half of 2015. A report published in London's Financial Times has mentioned that India has attracted roughly 31 billion US dollar ahead of 28 billion dollar of c...

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