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...

Fiscal Deficit Surpasses Full-Year Target

According to the official data released by the Controller General of Accounts (CGA), the fiscal deficit of union government for April-February 2017 came in...

Norms for Corporate Voluntary Liquidation Issued

The Insolvency and Bankruptcy Board of India (IBBI) has issued regulations pertaining to the voluntary liquidation process for corporate persons. The regulations will come...

Summary of the Index of Eight Core Industries

The Eight Core Industries comprise nearly 38 % of the weight of items included in the Index of Industrial Production (IIP). The combined Index...

Advance Pricing Agreements with Indian Taxpayers Signed

The Central Board of Direct Taxes (CBDT) has entered into two Unilateral Advance Pricing Agreements (APAs) with Indian taxpayers, strengthening the Government’s commitment to...

First Time Sensex Closes Above 30,000 Mark in BSE History

Benchmark Sensex closed above the 30,000-mark for the first time on 26 April, 2017. A 30-kg cake was cut at Bombay Stock Exchange (BSE) in...

‘Options Trading’ in Commodity Derivatives Allowed

Securities and Exchange Board of India has allowed options trading in commodity derivatives. SEBI’s board also approved issuance of unified license to brokers for trading in...

Good and Services Tax

Salient Features of GST The salient features of GST are as under: (i) The GST would be applicable on the supply of goods or services as...

Government Decides to Issue Sovereign Gold Bonds

Government of India, in consultation with the Reserve Bank of India, has decided to issue Sovereign Gold Bonds 2017-18 – Series I. The Bonds will...

Government Divested Stake in National Aluminum Company

The Central Government has successfully divested 9.2% of paid-up capital in National Aluminum Company Ltd. (NALCO) to raise Rs. 1,200 crore. Department of Investment and...

Central Sugar Order Extended for Six Months

The Union Cabinet has given its approval for extending the validity of the existing Central Order in respect of sugar for a further period...

Latest Tax Exemptions to Startups in India

Following direct tax incentives were provided in Income-tax Act,1961 (‘the Act’) to promote Start-ups through Finance Act,2016: 1. Introduction of new section 54EE in Income-tax...

Government Approves Listing of CPSEs on Stock Exchanges

The Cabinet Committee on Economic Affairs, chaired by the Prime Minister Modi has given its approval for listing of the following 11 CPSEs (Central...

Special Purpose Vehicle ‘Government e-Marketplace’ Setup

The Union Cabinet has given its approval for the setting up of a Special Purpose Vehicle to be called Government e-Marketplace (GeM SPV) as...

Top 5 Reasons to Introduce Goods and Services Tax in India

Tax on sale or purchase of goods within a State as per Entry List II of Seventh Schedule of the Constitution is a State...

International Financial Services Centre Becomes Operational

Section 18 of the Special Economic Zones Act, 2005 provides for the setting up of an International Financial Services Centre (IFSC) in a Special...

India’s Share in Global Economy: Latest Data

According to the World Bank Group, India’s GDP (in current US$, 2015) is US$ 2.095 trillion vis-a-vis the World GDP (in current US$, 2015)...

Hybrid Annuity Model for Infrastructure Projects in India

The Cabinet Committee on Economic Affairs in 2016 gave approval for the Hybrid Annuity Model as one of the modes of delivery for implementing the...

Section 139AA of the Income-tax Act 1961

Section 139AA of the Income-tax Act, 1961 as introduced by the Finance Act, 2017 provides for mandatory quoting of Aadhaar / Enrolment ID of...

Government Allows Import of Raw Sugar at Zero Duty

In order to address regional production gaps and also to maintain domestic prices at reasonable levels, it has been decided by the Government to...

One Page Simplified ITR Form-1 ‘Sahaj’ Introduced

The Central Board of Direct Taxes has notified Income-tax Return Forms (ITR Forms) for the Assessment Year 2017-18. One of the major reforms made in...

India’s External Debt Statistics: Latest Data

Department of Economic Affairs(DEA), Ministry of Finance, Government of India has been compiling and releasing Quarterly Statistics on India’s External Debt for the quarters...

Advance Pricing Agreements Crosses 150 Mark

The Central Board of Direct Taxes (CBDT) has entered into 9 Advance Pricing Agreements (APAs). All the 9 Agreements entered into are Unilateral APAs....

NBS Rates for Phosphatic and Potassic Fertilizers

The Cabinet Committee on Economic Affairs (CCEA) has approved the Fixation of Nutrient Based Subsidy (NBS) rates for Phosphatic and Potassic (P&K) fertilizers for...

Latest Data on India’s Current Account Deficit

According to Reserve Bank of India data, the country’s Current Account Deficit (CAD) widened to $7.9 billion in the Oct.-Dec. quarter. India’s current account deficit...

New Norms for Lending Against Gold

The Reserve Bank of India (RBI) has prohibited non-banking finance companies (NBFCs) of all kinds from lending more than Rs. 20,000 in cash against...

Services Purchasing Managers’ Index

The Nikkei India Services Purchasing Managers’ Index (PMI) rose to 50.7 in February from 49.4 in January. A reading above 50 denotes an expansion...

Plastic Notes of Rs. 10 Gets Approval

Over the years, central banks across the world have been exploring different solutions like plastic notes and other developments in banknote substrates for extending...

Capital Infusion in 10 Public Sector Banks

The Finance Ministry has chalked out a turnaround-linked ₹8,586-crore capital infusion plan for 10 PSBs. The 10 banks identified are Allahabad Bank (₹418 crore); Andhra...

The Fed Funds Rate in News

In the United States, the federal funds rate is the interest rate at which depository institutions (banks and credit unions) lend reserve balances to...

IRDAI Hikes Insurance Premium Prices

The Insurance Regulatory and Development Authority of India (IRDAI) has increased rates by up to 41 per cent across various categories of vehicles. The quantum...

Price Stabilization Fund: Main Features

The Price Stabilization Fund (PSF) was set up in 2014-15 under the Department of Agriculture, Cooperation & Famers Welfare (DAC&FW) to help regulate the...

Taxes Board Reorganised and Renamed

Reorganisation of the field formations of the Central Board of Excise & Customs (CBEC) for the implementation of Goods & Services Tax (GST) has...

Competition Commission Imposed Penalty on Coal India

Competition Commission of India has imposed a penalty of ₹591.01 crore on public sector undertaking Coal India. The Competition Commission of India (CCI) has found Coal...

Steps Taken for Promotion of Digital and Cashless Transactions

The data on payment system indicators such as Paper Clearing, National Electronic Fund Transfer (NEFT) and National Automated Clearing House (NACH), registered growth in...

NTPC Raised Rs. 2,000 Crore by Green Masala Bonds

NTPC Ltd. has raised Rs. 2,000 crore through issuance of green masala bonds in overseas market under its USD 4 billion medium term note...

Merger of Bharatiya Mahila Bank with SBI

The Government of India has decided to merge the Bharatiya Mahila Bank (BMB) with the State Bank of India (SBI) to ensure greater banking...

Rs 340 Crore Raised Through Infrastructure Bonds

In a landmark development for expansion of inland waterways in the country, the Inland Waterways Authority of India (IWAI) has raised Rs 340 crore...

Steps Taken to Increase Exports and Reduce Trade Deficit

The value of India’s overall trade deficit for the last three years and the current year is as follows:          ...

Closure and Winding up of PSUs

The Cabinet Committee on Economic Affairs, has approved closure/winding up of CREDA HPCL Biofuel Ltd (CHBL) and IndianOil - Chhattisgarh Renewable Energy Development Agency...

Fund of Funds of Start-Ups in News

The Union Cabinet has approved the following proposals with regard to the Fund of Funds of Start-ups (FFS) which was established in June 2016...

Tractor Loan Settlement Scheme Launched

State Bank of India has announced a one-time farm loan settlement scheme worth 6,000 crore rupees primarily for tractors. One Time Settlement is announced...

Government Announces Repurchase of Securities

The Government of India has announced the repurchase of its Securities through Reverse Auction for an aggregate amount of Rs. 3,500 crore (face value). The...

India’s Foreign Trade: Latest Figures

MERCHANDISE TRADE EXPORTS & IMPORTS  : (US $ Million)                                                                                                (Provisional) EXPORTS (including re-exports) FEBRUARY APRIL-FEBRUARY 2015-16 20845.73 239378.37 2016-17 24490.27 245413.05 % Growth 2016-17/ 2015-16 17.48 2.52 IMPORTS 2015-16 27418.98 353696.36 2016-17 33386.57 340698.43 % Growth 2016-17/ 2015-16 21.76 -3.67 TRADE BALANCE 2015-16 -6573.25 -114317.99 2016-17 -8896.30 -95285.38 EXPORTS & IMPORTS: (Rs. Crore)                                                                                                                            (Provisional) EXPORTS (including...

Indian Oil Sold Equity in Lubrizol India

The Cabinet Committee on Economic Affairs, chaired by the PM Modi gave its in-principle approval topermit Indian Oil Corporation Limited (Indian Oil) to sell...

India is Largest Cotton Producing Country in World

India is the largest cotton producing and second largest cotton exporting country. As per International Cotton Advisory Committee (ICAC) report for the month of March...

Wholesale Price Index Based Inflation: Latest Data

The Wholesale Price Index (WPI) based inflation increased to 5.2 per cent in January, 2017 from 3.4 per cent in the previous month mainly...

Latest Data on Per Capita Debt in India

There has been a rise in the per capita debt on March 31, 2016 as compared to March 31, 2015. There has been a rise...

List of Taxes Being Subsumed in GST Regime

The GST Council in its Meeting agreed to extend the date for rollout of GST from 1st April 2017 to 1st July 2017. Steps taken...

Steps Taken to Curb Generation of Black Money

Action against black money is an on-going process. Such actions include policy-level initiatives, effective enforcement action on the ground, putting in place robust legislative...

Repurchase of Government Securities Announced

The Government of India has announced the repurchase of its Securities through reverse auction for an aggregate amount of Rs. 10,000 crore (face value). The...

Govt Approves Strategic Sale of Steel Authority Units

The government of India has ‘in-principle’ decided for strategic disinvestment of ASP, SSP and VISP of Steel Authority of India Ltd with transfer of...

Services Sector of India: Latest Data on Foreign Investment

Foreign investments in the services sector increased 77.6 per cent to $7.55 billion in the current fiscal. Services sector, which includes banking, insurance, R&D, outsourcing, courier...

SBI Introduces Charges for Not Maintaining Minimum Balance

State Bank of India has decided to reintroduce penalty on non-maintenance of minimum balance in accounts from April 1, 2017. Failure to maintain Monthly Average...

Public Sector Banks to Give Stock to Employees

Finance Ministry has agreed in-principle to allow public sector banks to offer stock options to their employees from next fiscal. Employee Stock Option plans (ESOPs)...

Second Advance Estimates of National Income

The Central Statistics Office (CSO), Ministry of Statistics and Programme Implementation have released the Second Advance estimates of national income at constant (2011-12) and...

Advance Pricing Agreements Reaches 140

The Central Board of Direct Taxes (CBDT) has entered into 10 more Advance Pricing Agreements (APAs). Two of these ten agreements are Bilateral APAs with...

Bhadla Solar Power Project Commissioned

Public sector undertaking NTPC  has commissioned the 115 MW of Bhadla Solar Power Project. The project increased the NTPC's solar capacity to 475 MW. Now,...

Visakhapatnam-Chennai Industrial Corridor Gets Funding

India and ADB have signed USD 375 million pact for loans and grants to develop 800—km Visakhapatnam—Chennai Industrial Corridor, which is the first phase...

Disinvestment of Bharat Electronics Limited

The Government of India proposed to disinvest 5% of paid-up equity capital-out of its shareholding of 74.41% in BEL through Offer for Sale (OFS)...

CSO Revises GDP Growth to 7.9%

CSO has revised upwards the GDP growth for 2015–16 to 7.9% from the earlier estimate of 7.6%. According to Central Statistics Office (CSO), real GDP or...

Index of Mineral Production of Mining Sector

The index of mineral production of mining and quarrying sector for the month of December(new Series 2004-05=100) 2016 at 144.5, was 5.2% higher as compared...

Financial Institutions Allowed to Invest in Masala Bonds

Reserve Bank of India allowed multilateral financial institutions to invest in rupee denominated bonds popularly known as ‘masala bonds’ issued by Indian entities. In order to...

Regional Rural Bank’s Gold Loan Limit Extended

The Reserve Bank of India has doubled the quantum of loan that Regional Rural Banks (RRBs) can give against security of gold/ gold ornaments...

Most Recent Data on Livestock Products in India

The Integrated Sample Survey is a regular sample survey under taken on a general principle of 15% sample basis across the country. The sample Villages/Urban...

Wheat Procurement Statewise List

In the conference of the Food Secretaries of the States held under the Chairpersonship of Ms. Preeti Sudan, Secretary, the Department of Food &...

Latest Data on Foodgrains Production in India

The 2nd Advance Estimates of production of major crops for 2016-17 have been released by the Department of Agriculture, Cooperation and Farmers Welfare on...

Acquisition of Subsidiary Banks by SBI Approved

The Union Cabinet has approved the acquisition by the State Bank of India of its subsidiary banks namely State Bank of Bikaner and Jaipur,...

Government Starts Sale of Loss Making PSU

The Union government has started the process of strategic sale or privatisation of Bharat Pumps and Compressors, and Bridge & Roof Co. The sale...

Concept of “Universal Basic Income” in News

The union government has unveiled a radical proposal to eliminate poverty – providing a universal basic income for all its citizens, while stressing that...

Border Adjustment Tax in News

Republicans in USA are proposing a tax concept common in other countries but novel in the U.S. The idea is "border adjustment." Under the plan,...

Latest Data on Direct and Indirect Taxes

The Tax Collection figures up to January 2017 show consistent trend of healthy growth. Indirect Taxes During January 2017, the Net Indirect Tax grew at the...

India’s Wheat Imports Highest in a Decade

India has bought more than five million tonnes of wheat since mid-2016, already its biggest annual purchase in a decade, after it began an...

2% Stake Sale in ITC by Government

The Centre moved ₹6,700 crore closer its disinvestment revenue target of ₹45,500 crore for this fiscal year by selling 2 per cent of its...

List of Measures to Promote Exports of India

As per the export data available upto November, 2016, the India’s exports have registered a positive growth since September 2016 in US$ terms continuously...

List of Recent Reforms in FDI

Investment made by NRIs, PIOs and OCIs under Schedule 4 of FEMA (Transfer or Issue of Security by Persons Resident Outside India) Regulations on...

New Measures to Tackle Black Money in India

There is no official estimation of percentage of black money held in India in cash. In the last financial year (2015-16) 648 disclosures involving undisclosed...

Gross Capital Formation in India: Latest Information

The World Bank Group in its Report ‘South Asia Economic Focus Fall 2016’ titled ‘Investment Reality Check’ has indicated that in terms of annual...

Advance Pricing Agreements Reached 130

The Central Board of Direct Taxes (CBDT),Department of Revenue, Ministry of Finance has entered into four more unilateral Advance Pricing Agreements (APAs). The four APAs...

Buffer Stock of Pulses: Latest Data

The Government has approved engaging professional pulses buffer management entity for efficient management of the buffer stock. According to government, Adequate capacity for storage of...

Electoral Bonds: What, How and Why?

In his budget speech on 1 February, Union Finance Minister Arun Jaitley proposed the introduction of electoral bonds as a campaign finance reform. Electoral Bond...

Import of Steel in India: Full Data Country Wise

COUNTRYWISE IMPORTS OF STEEL IN THOUSAND TONNES 2013-14   2014-15 2015-16 ARGENTINA 0.5 1.74 0.53 AUSTRALIA 5.8 9.04 3.71 BAHRAIN 4.86 6.91 3.44 BANGLADESH 0.1 0 1.78 BELGIUM 70.07 113.51 80.42 BRAZIL 70.72 135.15 291.12 CANADA 15.52 8.36 7.79 CHILE 0.06 0.28 0.28 CHINA 646.77 1753.76 1878.93 DENMARK 12.74 20.02 16.07 DJIBOUTI 0 0 0.62 EGYPT 0 0 0 FINLAND 1.73 2.21 0.76 FRANCE 24.75 122.1 56.68 GERMANY 136.55 103.41 150.95 GHANA 0.04 0 0 HONG KONG 0.55 1.51 32.25 INDONESIA 0.15 157.06 513.44 IRAN 92.79 0 20.67 ITALY 17.26 49.06 19.85 JAPAN 1235.25 1415.68 1994.8 JORDAN 0.15 0 0.19 KAZAKHSTAN 8.12 8.93 4.92 KOREA 1174.27 1754.72 2843.83 KUWAIT 26.06 47.22 3.76 LEBANON 0.18 0 0 MACEDONIA 0 0 0 MALAYSIA 21.53 44.21 52.29 NETHERLANDS 21.51 43.65 16.22 ROMANIA 24.15 10.57 1.72 RUSSIA 129.33 201.69 344.97 SAUDI ARABIA 62.76 3.96 0.65 SOUTH AFRICA 26.81 76.19 78.47 SPAIN 15.28 23.59 17.58 SRI LANKA 0.22 0.12 0.4 TAIWAN 105.01 167.85 160.01 THAILAND 17.18 11.73 39.96 TURKEY 13.17 27.1 0.95 UK 29.22 38.71 42.25 UAE 49.1 185.79 174.28 UKRAINE 209.22 314.58 234.34 USA 83.28 130.58 86.32 OTHERS 197.1 423.1 478.3 ALL COUNTRIES 4549.86 7414.09 9655.5

BSE Debuts on National Stock Exchange

Asia’s oldest stock exchange Bombay Stock Exchange  listed on rival National Stock Exchange. The shares of BSE, the country’s first stock exchange to go public,...

FDI in White Labelled ATM Operations

Government has allowed Foreign Investment upto 100% in White Label ATM (WLA) operations, subject to the following conditions :- (i) Any non-bank entity intending to...

Use of Bitcoins in India: Government and RBI’s View

Promotion of Digital economy is in integral part of Government’s strategy to clean the system and weed out corruption and black money. The earlier initiatives...

Foreign Exchange Reserves: What, How and Why?

India’s foreign exchange reserves (FER) increased from US$ 341.6 billion at end March 2015 to US$ 360.2 billion at end March 2016 and US$...

RBI Extends Tenure of Government Securities

Reserve Bank of India has converted four securities maturing in 2017-18, having a total face value of about ₹37,078 crore, to longer tenor securities. Through...

Concept of ‘Secondary Adjustments’ Introduced

The Budget 2017 presented by Indian finance minister, ushered the concept of ‘secondary adjustments’. It means that an adjustment that arises from imposing tax on...

First Combined Railway and General Budget

The Union Minister for Finance and Corporate Affairs, Arun Jaitley while presenting the General Budget 2017-18, in Parliament informed that this Budget is the...

Digital Economy: Steps to Strengthen and its Regulation

In a bid to give a push to Digital Economy and weed-out corruption and black money, the Union Minister for Finance and Corporate Affairs,...

Measures to Promote Industry and Commerce in Budget 2017

Union Budget 2017-18 presented by Finance Minister Arun Jaitley provides renewed impetus to manufacturing and Make in India, export infrastructure and Government e-marketplace. Several measures...

Highlights of Union Budget 2017

Following are the highlights of Union Budget 2017, presented by Finance Minister Arun Jaitley in Parliament: 1. Tax rates halved to 5% for income...

India Post Payment Bank Gets Approval

RBI has given license to post offices for the payments bank. India post is the 3rd entity to get the license of payments bank after...

Revised Estimates of National Income

The Central Statistics Office (CSO), Ministry of Statistics and Programme Implementation has released the First Revised Estimates of National Income, Consumption Expenditure, Saving and...

Operation Clean Money Launched

Income Tax Department (ITD) has initiated Operation Clean Money. Initial phase of the operation involves e-verification of large cash deposits made during 9th November to...

Latest Index of Eight Core Industries of India

The Eight Core Industries comprise nearly 38 % of the weight of items included in the Index of Industrial Production (IIP). The combined Index of...

New General Anti Avoidance Rule (GAAR) Provisions

The General Anti Avoidance Rule (GAAR) provisions shall be effective from the Assessment Year 2018-19 onwards, i.e. Financial Year 2017-18 onwards. The necessary procedures for application of...

NTPC Raises €500 mn from Bonds Sale

India’s biggest power producer, NTPC Ltd, has raised €500 million through overseas bonds sale. NTPC got bids for $2.4 billion, or nearly five times the...

Siemens Wins Order from ONGC

Company Siemens has bagged an order worth Rs 366 crore from ONGC for overhauling of power turbines. The order includes supply of material for overhauling...

Government Waives Interest on Farm Loans

The Union Cabinet has given its ex-post facto approval for interest waiver for the two months of November and December, 2016 for farmers accessing...