Methanol Economy for India

India needs around 2900 cr litres of petrol and 9000 cr litres of diesel per year currently, the 6thhighest consumer in the world and...

Growth Rate of Manufacturing Sector in India

The performance of manufacturing sector as per the Index of Industrial Production (IIP) during last two years and the current year is given below: Annual...

Inter-State E-Way Bill System in India: Latest Developments

The 24th Meeting of the GST Council was held under the Chairmanship of the Union Minister of Finance and Corporate Affairs. It discussed about...

Subsidy to Industry in North-East Region Approved

Indian union Cabinet Committee on Economic Affairs has approved Capital Investment Subsidy amounting to Rs.264.67 crore to four industrial units located in North Eastern...

Government Subsidizes Online Payments upto Rs.2000

Indian government has approved the Merchant Discount Rate (MDR) applicable on all debit card/BHIM UPI/ Aadhaar enabled Payment System (AePS) transactions upto a value...

Monthly Accounts of Indian Government Released

The Monthly Account of the Government of India upto October 2017 has been consolidated and reports published. Highlights of the report are:- The Government of India...

Government Securities Repayment Declared

The outstanding balance of 6.25% Government Stock 2018 is repayable at par on January 02, 2018. No interest will accrue there on from January...

Fifth Bi-monthly Monetary Policy Statement

On the basis of an assessment of the current and evolving macroeconomic situation at its meeting, the Monetary Policy Committee (MPC) decided to keep...

Minimum Import Price on Pepper Imposed

The Union Ministry of Commerce and Industry has approved the proposal of the Spices Board for fixing the CIF value of Rs.500/-per kg as...

Consumer Price Index For Industrial Workers: Latest Figures

The All-India CPI-IW for October, 2017 increased by 2 points and pegged at 287 (two hundred and eighty seven). On 1-month percentage change, it...

Blue Economy: Meaning and Explanation

Humanity’s relationship with the oceans, and how people use and exploit their resources, is evolving in important ways. While the oceans are increasingly becoming...

Inter-Bank Local Currency Credit Line Agreement

The Union Cabinet has given its approval to the signing of the (i) Interbank Local Currency Credit Line Agreement and (ii) Cooperation Memorandum Relating...

Fiscal Deficit Reaches 96% Of Yearly Target In August

India’s fiscal deficit at August-end touched 96.1 per cent of the budget estimate for 2017-18, mainly due to rise in expenditure. In absolute terms, the...

India Volatility Index

The National Stock Exchange (NSE) started trading of futures contracts based on the Indian VIX index from 26thFebruary, 2014. India VIX is the pet name...

RBI Issues New Rs.200 and Rs.50 Notes

The Reserve Bank issued new Rs 200 and Rs 50 denomination banknotes in the Mahatma Gandhi (New) Series, bearing signature of RBI Governor Urjit...

‘Northeast Venture Fund’ in News

According to Indian government, the 'Northeast Venture Fund' offered by the Ministry of Development of North-Eastern Region (DoNER) is attracting young Start-Ups in more...

Bharat Wagon and Engineering Company Closed

The Cabinet Committee on Economic Affairs has approved the proposal of Ministry of Railways to close the Bharat Wagon and Engineering Company Limited (BWEL)...

Framework for Consolidation of Public Sector Banks

The Union Cabinet has given in-principle approval for Public Sector Banks to amalgamate through an Alternative Mechanism (AM). The decision would facilitate consolidation among...

Advance Estimates of Production of Major Crops

The 4th Advance Estimates of production of major crops for 2016-17 have been released by the Department of Agriculture, Cooperation and Farmers Welfare in...

Support to Industrial Units in Mountainous States

The Union Cabinet Committee on Economic Affairs chaired by the Prime Minister Modi has given its approval to the Scheme of providing Budgetary Support...

Factors Responsible for Widening of Current Account Deficit

India’s current account deficit (CAD) at US$ 3.4 billion (0.6 per cent of GDP) in Q4 of 2016-17 was higher than US$ 0.3 billion...

New Exchange Traded Fund Launched

The Union Finance Minister Arun Jaitley launched a new Exchange Traded Fund (ETF) by the name BHARAT 22. Bharat 22 consists of 22 stocks of...

Latest WPI Base Year

The Government has revised the base year of All-India Wholesale Price Index (WPI) from 2004-05 to 2011-12. The revision of the base year of...

List of GST Sectoral Groups

The Goods and Services Tax (GST) Council in its meeting approved the constitution of eighteen sectoral groups to ensure smooth roll-out of GST. The Council...

List of All States and Their GDP

State/UT-wise Gross State Domestic Product (GSDP) as on 31.03.2017 (Rs. crore) S. No. State/UT At current prices At constant prices 2014-15 2014-15 1 Andhra Pradesh 526468 441741 2 Arunachal Pradesh 16761 13541 3 Assam 198098 166709 4 Bihar 373920 304766 5 Chhattisgarh 234982 196023 6 Goa 40633 34611 7 Gujarat 895027 791569 8 Haryana 437462 366636 9 Himachal Pradesh 104369 89032 10 Jammu & Kashmir 100404 85267 11 Jharkhand 217107 186491 12 Karnataka 921788 760282 13 Kerala 526002 432237 14 Madhya Pradesh 481982 383994 15 Maharashtra 1792122 1524846 16 Manipur 18043 15030 17 Meghalaya 24408 21152 18 Mizoram 11559 9634 19 Nagaland 18414 14115 20 Odisha 321971 274721 21 Punjab 368011 313276 22 Rajasthan 612194 512095 23 Sikkim 15209 12882 24 Tamil Nadu 1092564 900628 25 Telangana 511178 423972 26 Tripura 29667 25086 27 Uttar Pradesh 1043371 853872 28 Uttarakhand 161985 140791 29 West Bengal...

Disinvestment of Hindustan Copper Limited

The Government of India has disinvested 6.83% of paid up equity in Hindustan Copper Limited through Offer for Sale (OFS). The Government is likely...

Govt Notifies New Rs.200 Notes

The government has given its approval to the RBI to issue 200 rupee notes. On the recommendations of the Central Board of Directors of...

Mechanism for Strategic Disinvestment Approved

The Cabinet Committee on Economic Affairs, chaired by the Prime Minister has approved the proposal of Department of Investment and public Asset Management (DIPAM)...

‘Long Term Irrigation Fund’ in News

The Union Cabinet has approved raising extra budgetary resources up to 9,020 crore rupees for Long Term Irrigation Fund in 2017-18. The amount will...

Online Registration for ‘Custodians of Securities’

Securities and Exchange Board of India, SEBI, has introduced an online registration mechanism for custodians of securities to make it convenient for them to...

Third bi-Monthly Monetary Policy Released

On the basis of an assessment of the current and evolving macroeconomic situation at its meeting today, the Monetary Policy Committee (MPC) decided to...

‘Bank Account Number Portability’ in News

Reserve Bank of India Deputy Governor S S Mundra has proposed the idea of bank account portability, saying banks must start preparing for the...

India Ranks First in Milk Production

India ranks first in milk production, achieving an annual output of 155.48 million tons during 2015-16 accounting for 19 % of world production. Department of...

NPCI Gets Approval for Bharat Bill Payment System

National Payments Corporation of India (NPCI) has RBI aaproval to function as the Bharat Bill Payment Central Unit (BBPCU) and operate the Bharat Bill Payment...

India’s Edible Oil Imports Turns Negative

India's edible oil imports has turned negative for the first time in six years. It is due to the increased local production of oilseeds...

List of Liabilities of State Governments in India

The Government is committed to the policy of fiscal rectitude. The fiscal deficit of the Centre as percentage of GDP has declined consistently from...

‘Sovereign Gold Bonds Scheme’ Revised

Indian government has given approval for revision of guidelines of Sovereign Gold Bonds (SGB) Scheme with a view to achieve its intended objectives. Two sets of...

Sale of Indian Floating Rate Bonds 2024

The Government of India has announced the Sale (re-issue) of (i) “Government of India Floating Rate Bonds 2024” for a notified amount of Rs....

MSCI World Index in News

The MSCI World is a stock market index of 1,650 'world' stocks. It is maintained by MSCI Inc., formerly Morgan Stanley Capital International, and...

Total Sown Area of Kharif Crops in 2017

The total sown area as on 21st July 2017, as per reports received from States, stands at 685.31 lakh hectare as compared to 673.41 lakh...

Public Credit Registry of India

The Reserve Bank of India (RBI) is considering setting up a Public Credit Registry (PCR), which will be an extensive database of credit information...

Extra Budgetary Resource of Rs. 660 Crore

The Union Cabinet has approved the Revalidation of permission to raise Extra Budgetary Resource (EBRs) of Rs. 660 crore as Government of India Bonds...

Export Promotion Schemes and GST

The union government has modified the oreign Trade Policy (2015-20) and other export promotion schemes according to GST regime. Under the GST regime, no exemption...

Latest on MUDRA Loans Scheme

Loans under Pradhan Mantri Mudra Yojana (PMMY) Scheme have been extended by banks, Non Banking Financial Companies (NBFCs) and Micro Finance Institutions (MFIs) to...

List of Top Steel Exporting Countries

Data on crude steel production by India during the last three years i.e. 2014-15, 2015-16 and 2016-17 and April-May 2017-18 is given below:- Year Crude steel...

Chinese Economy is Fastest Growing Now

Post demonetization, India has lost its fastest-growing major economy status in the fourth quarter of 2016-17. Indian GDP growth came at the rate of...

Second bi-monthly Monetary Policy: Highlights

On the basis of an assessment of the current and evolving macroeconomic situation at its meeting, the Monetary Policy Committee (MPC) decided to keep...

Concept of PMI or Purchasing Managers’ Index

PMI or a Purchasing Managers' Index (PMI) is an indicator of business activity -- both in the manufacturing and services sectors. It is a survey-based...

New LEI Code System for Banks

The Reserve Bank of India will implement the Legal Entity Identifier (LEI) system for all participants in the over-the-counter markets for rupee interest rate...

Retail Inflation in India Falls Historic Low

India’s retail inflation hit a historic low of 1.54 percent in June 2017.  Retail inflation, measured by Consumer Price Index (CPI) remained low in May...

National Investment and Infrastructure Fund Meet

The 3rd Meeting of the Governing Council of the “National Investment and Infrastructure Fund (NIIF)” was under the Chairmanship of the Union Finance Minister. Finance...

Revamped ‘RESIDEX’ Launched

The revamped and expanded official online user friendly NHB RESIDEX that captures movements in the prices of residential real estate prices released today revealed...

Government Floating Rate Bonds 2024 Launched

Recently Government of India has announced the Sale of Floating Rate Bonds. Floating Rate Bonds refer to the changing interest rate bonds. The interest rate...

FAO Food Price Index: Latest Monthly Data

Rising prices of cereals, meat and dairy products have pushed the global food price index up by 1.4 per cent compared to last month...

10% Basic Customs Duty Imposed on Mobiles

The Government had constituted Inter Ministerial Committee comprising of officers from Ministry of Electronics and Information Technology (MeitY), the Department of Commerce (DoC), Department...

Goods and Services Tax Identification Number

The rules related to Registration and Composition Scheme have been notified on 19th June, 2017. These rules have been brought into effect from 22nd...

Tax Rate on Fertilizers Reduced to 5%

At the 18th meeting of the GST Council, it was decided to reduce the GST rate of fertilizers from the existing 12% to 5%....

GST: How it Comes to Existence?

Goods and Services Tax (GST), a historic tax reform has come into effect from 1st July, 2017. GST will completely transform the Indirect Taxation...

Five Unilateral Advance Pricing Agreements Signed

The Central Board of Direct Taxes (CBDT) entered into Five Unilateral Advance Pricing Agreement with Indian taxpayers during June, 2017. A Bilateral Advance Pricing Agreement...

Disinvestment of Air India Approved

The Cabinet Committee on Economic Affairs, chaired by the Prime Minister Narendra Modi, has given its approval to fourth tranche recommendations of NITI Aayog...

7th CPC Recommendations on Allowances Approved

The Union Cabinet chaired by PM approved the recommendations of the 7th CPC on allowances with some modifications. The revised rates of the allowances...

Banking Ombudsman Scheme Expanded

The RBI has extended the scope of Banking Ombudsman Scheme. Under the amended scheme, a customer would also be able to lodge a complaint against...

Wholesale and Long-Term Finance Banks in India

The Reserve Bank of India recently released a Discussion Paper on ‘Wholesale & Long-Term Finance Banks’. The discussion paper explores the scope for setting up...

Government of India Floating Rate Bonds 2024

Government of India has announced the Sale (re-issue) of (i) “Government of India Floating Rate Bonds 2024” for a notified amount of Rs. 3000...

Main Kharif Crops of India: Latest Sown Area

The total sown area as on 23rd June 2017, as per reports received from States, stands at 130.74 lakh hectare as compared to 119.28...

CBDT Notifies Rule 10CB for Secondary Adjustments

Rule 10CB for operationalising the provisions of secondary adjustment has been notified by the Central Board of Direct Taxes on 15th June, 2017. It prescribes...

India’s Spices Trade: Latest Trend in Exports

India has surpassed all previous export records and has fulfilled the increasing international demand for its quality spices in the face of tough competition...

Know About India’s Export and Import Facts

India’s Foreign Trade: May 2017 MERCHANDISE TRADE EXPORTS & IMPORTS  : (US $ Million) (PROVISIONAL)       MAY APRIL-MAY EXPORTS(including re-exports) 2016-17 22170.62 42739.47 2017-18 24014.62 48649.71 %Growth 2017-18/ 2016-17 8.32 13.83 IMPORTS 2016-17 28443.52 53857.24 2017-18 37856.34 75740.62 %Growth 2017-18/ 2016-17 33.09 40.63 TRADE BALANCE 2016-17 -6272.90 -11117.77 2017-18 -13841.72 -27090.91       EXPORTS & IMPORTS  : (Rs. Crore)   (PROVISIONAL)     MAY APRIL-MAY EXPORTS(including...

Securities Transaction Tax: Latest Amendment

Section 10(38) of the Income-tax Act, 1961 (‘the Act’), prior to its amendment by Finance Act, 2017 provided that the income arising by way of a...

Interest Waived on Short-Term Crop Loans

The Union Cabinet of India has approved the Interest Subvention Scheme (ISS) for farmers for the year 2017-18. This will help farmers getting short...

Government Abolished Cesses Imposed in Recent Years

In the run up to the July 1 roll out of GST, the finance ministry of India has abolished various cesses on goods and...

India’s Seafood Production: Important Data and Facts

India exported 11,34,948 MT of seafood worth an all time high of US$ 5.78 billion (Rs 37, 870.90 crore) in 2016-17 with USA and...

Initial Public Offer of Indian Renewable Energy Agency

The Cabinet Committee on Economic Affairs, chaired by the Prime Minister Narendra Modi, has given its approval to issue 13,90,00,000 fresh equity shares of...

Quick Estimates of Index of Industrial Production

The Quick Estimates of Index of Industrial Production (IIP) with base 2011-12 for the month of April 2017 have been released by the Central...

Capital Gains Tax: Latest Developments in India

The Central Board of Direct Taxes (CBDT) has come out with a final notification specifying the securities transactions that would attract capital gains tax...

India Becomes 2nd Largest Stainless Steel Producer

India has become the second largest stainless steel producer in the world after China. According to data released by the International Stainless Steel Forum (ISSF),...

India’s Own Gold Standard ‘BND 4201’ Developed

Gold reference standard is indispensable in gold and jewellery hall marking and assumes greater importance in the gold monetisation scheme of the Indian government....

RBI Imposes Restrictions on IDBI

The Reserve Bank of India (RBI) has imposed sanctions on IDBI Bank. IDBI Bank is the first lender to be sanctioned by the RBI after...

Provisional Estimates of Annual National Income

The Central Statistics Office (CSO), Ministry of Statistics and Programme Implementation, has released the Provisional estimates of national income for the financial year 2016-17. The...

Nokia and Apple Sign New Patent Agreement

Nokia has settled its legal battle with Apple and signed a new patent licence agreement and  business deal. A previous patent licence contract between the companies...

Baltic Dry Index Slips Below 1000 Points

The Baltic Dry Index (BDI) is an economic indicator issued daily by the London-based Baltic Exchange. Not restricted to Baltic Sea countries, the index...

Definition of ‘Start-Ups’ Changed by Government

In order to promote entrepreneurship in the country, the Government of India has amended the definition of a Startup. The following significant changes have been...

Fair and Remunerative Price Payable by Sugar Mills

The Cabinet Committee on Economic Affairs has given its approval for fixing the Fair and Remunerative Price (FRP) of sugarcane at Rs. 255/- per...

Renewable Energy Bonds in News

The Union Cabinet has given its approval to Raising of Bonds of Rs. 2360 crores for Renewable Energy. The Bonds will be raised by the...

GST Council Decides Tax Rates for 1211 Items

The Goods and Services Tax (GST) Council decided the tax rates for 1,211 items. Under GST, a small list of goods will be exempt from...

Prompt Corrective Action Framework for Banks Released

The Reserve Bank of India (RBI) has come out with a revised prompt corrective action (PCA) framework for banks. The revised norms have set out...

Foreign Exchange Reserves At Lifetime High Level

India’s foreign exchange reserves rose by $1.594 billion to touch a lifetime high of $372.73 billion in the week to April 28, supported by...

‘Infrastructure Investment Trusts’ in News

India’s first Infrastructure Investment Trust (InvIT) has been launched as public issue of IRB InvIT Fund, sponsored by IRB Infrastructure Developers (IRB ID). The IRB...

Restructuring Plan for Hindustan Organic Chemicals Ltd.

The Cabinet Committee on Economic Affairs has approved a restructuring plan for Hindustan Organic Chemicals Ltd. (HOCL), a loss making and sick Central Public...

Nifty 50 Equal Weight Index Launched

NSE group firm India Index Services & Products (IISL) launched the Nifty 50 Equal Weight index — an alternative weighting strategy to its market...

Concept of ‘Standing Deposit Facility’ in News

RBI is planning to introduce a new monetary-policy tool in the coming financial year to better manage a banking system swimming in excess cash. The so-called...

Simplified Hedging Facility in India

Reserve Bank of India unveiled draft guidelines relating to simplified hedging facility for resident entities with foreign currency exposures and non-resident entities with rupee...

Foreign Trade of India: Latest Official Facts

MERCHANDISE TRADE EXPORTS & IMPORTS  : (US $ Million) (PROVISIONAL)     APRIL 2017 EXPORTS(including re-exports)   2016-17 20568.85 2017-18 24635.09 %Growth 2016-17/ 2015-16 19.77 IMPORTS   2016-17 25413.72 2017-18 37884.28 %Growth 2016-17/ 2015-16 49.07 TRADE BALANCE   2016-17 -4844.87 2017-18 -13249.19     EXPORTS &IMPORTS  : (Rs. Crore) (PROVISIONAL)   APRIL 2017 EXPORTS(including re-exports)   2016-17 136720.11 2017-18 158913.79 %Growth 2016-17/ 2015-16 16.23 IMPORTS   2016-17 168923.71 2017-18 244380.52 %Growth 2016-17/...

Base Year of Industrial Production Index Revised

The Central Statistics Office (CSO), Ministry of Statistics and Programme Implementation, revises the base year of the macroeconomic indicators, as a regular exercise, to...

Base Year of the Consumer Price Index (CPI)

The Central Statistics Office (CSO), Ministry of Statistics and Programme Implementation has revised the Base Year of the Consumer Price Index (CPI) from 2010=100...

Revision of Base Year of All-India Wholesale Price Index

The Government periodically reviews and revises the base year of the macroeconomic indicators as a regular exercise to capture structural changes in the economy...

Power Grid Corporation Gets ADB Loan

The Asian Development Bank (ADB) has extended a $175 million loan to the Power Grid Corporation of India Ltd. This will be “to support construction...

NHAI Masala Bond’s Launch at London Stock Exchange

The Union Minister of Road Transport & Highways and Shipping Nitin Gadkari launched the NHAI Masala Bond issue at the London Stock Exchange. The NHAI...

Food Grains Production in India: Latest Data

The 3rd Advance Estimates of production of major crops for 2016-17 have been released by the Department of Agriculture, Cooperation and Farmers Welfare. As per...

NTPC Crossed 50,000 MW Power Generation Capacity

Government owned NTPC has crossed the milestone of 50 GW power generation capacity. With the commissioning of 500 MW unit at Unchahar in Uttar Pradesh, the...