Tag: Economy

Rupee continues its free fall, record low of 70.32 a dollar

Rupee strengthens to 67.42 against dollar

Indian rupee advances 5 paise to 67.42 against the dollar in early trade on Thursday as there was no let-up in the selling of the American currency by exporters and banks. The dollar, in turn, became weak globally, causing a hike in the Rupee value. But this was offset by fresh[Read More…]

Corporates welcome the new and ‘positive’ Union budget

The corporate and industries sectors embraced the new Union budget. They perceive it as a positive decision and booster to the rural economy as well as housing and infrastructure. The Federation of Indian Chambers of Commerce and Industries (FICCI) president Pankaj Patel described the budget as “directionally correct and fiscally[Read More…]

Budget 2017 may inflate service taxes

Service tax rates have seen an increase over the last two years. In 2015-16, service tax was increased from 12.36% to 14%. The Swachh Bharat cess of 0.5% also was hitched to it. This financial year, the Krishi Kalyan cess of 0.5% was imposed, taking the tax rate to 15%.[Read More…]

India will assent $100 million for Kenya

India announced $ 100 million Line of Credit for Kenya’s agricultural mechanisation. Prime Minister Narendra Modi and Kenyan President Uhuru Kenyatta during a meeting agreed to extend economic cooperation and trade. PM Modi said in a joint press conference, “Long-term arrangement with Kenya for production and import of pulses is[Read More…]

80% farmers suicide due to debt and loans from banks

Latest government data shows that 80 per cent of farmers killed themselves in 2015 because of bankruptcy or debts after taking hefty amount of loans from banks and registered microfinance institutions. Despite us thinking the money-lenders a big reason for the suicides, moneylenders are more flexible than the microfinance sector.[Read More…]

First time in 150 years: India overtakes UK’s economy

In a substantial growth, India has managed to surpass its erstwhile colonial master United Kingdom in terms of economy – first time after almost 150 years. The feat was achieved as a result of Britain’s recent Brexit-related issues along with India’s rapid economic development. Significantly, the striking shift has been[Read More…]

Demonetisation: Indian services output shrinks

Indian services activity contracted in November dragged demand lower after dmonetisation , a private survey showed on Monday. The Nikkei India Services Business Activity Index slumped to 46.7 in November from October’s 54.5, data compiled by IHS Markit show. This is the first contraction since June 2015 and the sharpest[Read More…]

Shallow fog dips visibility in Delhi

Pollution can cripple NCR economy: ASSOCHAM

The Associated Chambers of Commerce and Industry of India (ASSOCHAM) has said that the alarming pollution in is likely to take a toll on the entire National Capital region (NCR), crippling sectors like tourism, transport, automobile and real estate. It added that several billions of dollars of fresh investment and[Read More…]

PM Modi lashes out at ‘self-appointed guardians’ of Dalits

Prime Minister Narendra Modi in an interview with CNN-News 18, his second interview to an Indian television news channel, spoke on various issues ranging from Indian economy, Dalits,Uttar Pradesh polls and his relationship with the media. PM Modi lashed out at ‘self-appointed guardians’ of Dalits for creating tensions in the[Read More…]

Verizon buys Yahoo for $4.8 billion

Yahoo has agreed to sell its core website business to Verizon Communications for $ 4.8 billion, according to multiple reports. On February 3, Yahoo had announced that it is open for a bid to explore other strategic alternatives. After months of wait, Verizon bought the staggering company at lowest price[Read More…]

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