Narendra Modi to visit Germany, UAE from June 26-28 to attend G7 Summit: MEA
NEW DELHI: Prime Minister Narendra Modi will visit the Alpine castle of Schloss Elmau in southern Germany on June 26 and 27 to attend the annual summit of G7 that is expected to delve into pressing global challenges including the Ukraine crisis and the situation in the Indo-Pacific. From Germany, Modi will travel to the […]
GST Council to meet on June 28-29 in Srinagar
NEW DELHI: The GST Council, chaired by Finance Minister Nirmala Sitharaman, will meet on June 28 and 29 in Srinagar. “The 47th meeting of the GST Council will be held on June 28-29, 2022 (Tuesday & Wednesday) in Srinagar,” the finance minister’s office tweeted. This is the second time that the GST Council meeting is […]
RBI hikes interest rate by 50 basis points to tame inflation
NEW DELHI: Reserve Bank of India (RBI) on Wednesday raised the interest rate by 50 basis points to a two-year high of 4.9% as it doubled down to tame inflation that has surged in the last couple of months. The rate hike comes on the back of a 40 bps increase effected by RBI at […]
Up to government to decide on supply-side measures to contain inflation: RBI Governor
NEW DELHI: Reserve Bank of India (RBI) Governor Shaktikanta Das on Wednesday said the government is “mindful” of the current inflation situation, and it is up to the Centre to take further supply-side measures to contain the price rise situation. “I am sure the government is mindful of the current inflation situation and it is […]
Modi government clears entire GST compensation payable to states till date
NEW DELHI: The Narendra Modi government (Centre) has cleared the entire GST compensation payable till date by releasing Rs 86,912 crore to states, the finance ministry said on Tuesday. Of this, Rs 25,000 crore is released from the GST compensation fund and the balance Rs 61,912 crore is being released by the Centre from its […]
Delhiites may soon have home delivery of liquor, say officials
NEW DELHI: Home delivery of liquor in the national capital is likely to see the light of the day soon, as a group of ministers (GoM) of the Delhi government has given a go ahead to it, officials said on Tuesday. The GoM has also viewed that there should not be any restriction on the […]
RBI hikes interest rate by 40 bps to 4.40%
NEW DELHI: The Reserve Bank of India (RBI) on Wednesday increased the benchmark lending rate by 40 basis points (bps) to 4.40 per cent in a bid to contain inflation, which has remained stubbornly above the target zone of 6 per cent for the last three months. The decision follows an unscheduled meeting of the […]
India’s industrial growth at 1.3 per cent in January
NEW DELHI: Industrial production expanded by 1.3 per cent in January on an annual basis, mainly on account of improved performance of mining and manufacturing sectors, official data showed on Friday. The Index of Industrial Production (IIP) had contracted by 0.6 per cent in January 2021. As per the data released by the Ministry of […]
UAE, India sign historic trade pact,trade to touch $100 billion in five years
NEW DELHI: Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, and Chairman of the Executive Council, and Narendra Modi,Prime Minister of India held a Virtual Summit today. At the event, both the leaders laid out their future vision of the historic and friendly […]
Can’t have a situation where jobs are in China: Modi government on Tesla’s India entry
NEW DELHI: Making it clear that relaxations will not be provided to US-based electric vehicles major Tesla unless it participates in manufacturing activities in India, Union Minister Krishan Pal Gurjar on Tuesday said there cannot be a situation where the market is India but jobs are created in China. The minister of state for heavy […]
Highlights of Union Budget 2022-23
NEW DELHI: The Union Budget seeks to complement macro-economic level growth with a focus on micro-economic level all inclusive welfare. The Union Minister for Finance & Corporate Affairs, Nirmala Sitharaman tabled the Union Budget 2022-23 in Parliament today. The key highlights of the budget are as follows: PART A India’s economic growth estimated at 9.2% […]
India’s GST collection tops Rs 1.38 lakh crore in January
NEW DELHI: India’s gross GST revenue collected in the month of January 2022 till 3PM on 31.01.2022 is Rs 1,38,394 crore of which CGST is Rs 24,674 crore, SGST is Rs 32,016 crore, IGST is Rs 72,030 crore (including Rs 35,181 crore collected on import of goods) and cess is Rs 9,674 crore (including Rs […]
India’s GDP to grow 8-8.5 pc in FY’23; economy well placed to meet challenges: Survey
NEW DELHI: India’s economy is expected to grow by 8-8.5 per cent in the fiscal beginning April 1 and is well placed to meet the future challenges on the back of widespread vaccine coverage, supply-side reforms and easing of regulations, said the pre-Budget Economic Survey on Monday. The Economic Survey 2021-22, tabled by Finance Minister […]
ICT gets industry excellence Award for engineering services & consultancy
New Delhi: Intercontinental Consultants and Technocrats (ICT) a leading Infrastructure company having operations in more than 45 countries across the globe has been conferred with ‘Industry Excellence award for its engineering and consultancy services’ conferred by the Institute of Engineers, the apex body of engineers in the country . K K Kapila, chairman and Managing […]
With APEDA assistance, Uttar Pradesh’s Purvanchal region emerges as new hub for India’s
NEW DELHI: Working in close collaboration with the Ministry of Commerce & Industry, the Agricultural and Processed Food Products Export Development Authority (APEDA) has taken several initiatives in making landlocked Purvanchal region as a new destination of agri-export activities through development of Varanasi Agri – Export Hub (VAEH). APEDA has identified potential districts of Uttar […]
Evasion of customs duty of Rs 653 Cr by Xiaomi India: DRI
Santosh Sharma New Delhi: The Directorate of Revenue Intelligence(DRI) has issued three cause notices to Chinese smartphone maker Xiaomi for demand and recovery of duty amounting of Rs 653 crore for the period of April 2017 to June 30, 2020, under the provisions of the Customs Act, 1962. According to the press statement by DRI, […]