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Economy

Country’s Forex Reserves rises by USD 1 billion to USD 367.14 billion

New Delhi: Country’s Forex Reserves rose by USD 1 billion to USD 367.14 billion for the week ended October 21 on the back of increase in the core currency assets. The Reserve Bank said that Foreign Currency Assets -FCAs, a major component of the overall reserves, increased by USD 1.015 billion to USD 341.923 billion. […]

Economy

Startups can raise USD 3 million via ECBs annually :RBI

New Delhi: The Reserve Bank yesterday permitted startups to raise external commercial borrowings (ECBs) of up to USD 3 million in a financial year, a move aimed at boosting innovation and promoting job creation. The RBI said while issuing norms for ECB route for startups that the borrowing should be denominated in any freely convertible […]

Economy

Accept ₹500/1,000 notes only after careful scrutiny: RBIAccept ₹500/1,000 notes only after careful scrutiny: RBI

New Delhi: Reserve Bank of India has urged public to examine 500 rupees and 1000 rupees currency notes before accepting them in the usual course of transactions to avoid circulation of fake currency notes. RBI said, unscrupulous elements are putting into circulation Fake Indian Currency Notes of higher denominations. The central bank has cautioned […]

Economy

Indian economy has potential to touch 6-8 trillion USD in next 15 yrs: Panagariya

New Delhi: NITI Aayog Vice-Chairman, Dr Arvind Panagariya has said that the Indian economy has the potential to touch 6-8 trillion USD in the next 15 years as against 2 trillion at present. Participating in an interactive program in Guwahati he asserted , though there are many challenges before the Indian economy at present, […]

Economy

Govt takes steps to ensure hassle-free arbitration process, says PM

New Delhi: Prime Minister Narendra Modi on Sunday said his Government has taken several steps to ensure hassle-free arbitration process. Addressing the valedictory address at the first ever Global Conference to strengthen arbitration and enforcement in India in New Delhi. Modi said, over a 1000 archaic laws have been scrapped and the government has enacted […]

Economy

Govt lists GST Bill for consideration, passage in Rajya Sabha today

New Delhi: The Rajya Sabha will discuss the Institutes of Technology (Amendment) Bill, 2016 and The Benami Transactions (Prohibition) Amendment Bill, 2016 today. In Lok Sabha, The Transgender Persons (Protection of Rights) Bill, 2016 will be introduced today. The government has listed the Goods and Services Tax, GST Bill for consideration and passage in the […]

Economy

Technology to be a key driver of economic growth: PM

New Delhi: Prime Minister Narendra Modi has asked the NITI Aayog to create a vision document for transformational change of the country. Interacting with members of the NITI Aayog in New Delhi Thursday, Modi said, the vision document will chart a roadmap for country’s development for the next fifteen years and will also lay the […]

Economy

Cabinet clears changes to GST Bill, drops 1% additional tax on inter-state sales

New Delhi: The Union Cabinet has cleared changes to the Goods and Services Tax (GST) Constitutional Amendment Bill, dropping 1 per cent manufacturing tax and providing guarantee to compensate states for any revenue loss in the first five years of rollout of the proposed indirect tax regime. The Cabinet, headed by Prime Minister Narendra Modi […]

Economy

Niti Aayog holding consultations with States on 15-year Vision Document

New Delhi: Niti Aayog held consultations with the Chief Secretaries of the states today and discussed on the formulation of a 15-year Vision Document for the country, along with a 7-year Strategy and 3-year Action Agenda to implement that vision. The vision will be actionable in the period beyond the 12th five year plan, which […]

Economy

Monsoon to push GDP growth to over 8% this fiscal: Panagariya

New Delhi : NITI Aayog Vice Chairman Arvind Panagariya has on Wednesday said a good monsoon can help add a percentage point to India’s GDP growth in the current fiscal. He expressed confidence that the GDP growth could cross 8 per cent in current fiscal from 7.6 per cent in 2015-16. Panagariya was talking to […]