Prominent people hiding taxable income as farm earnings: Jaitley

Prominent people hiding taxable income as farm earnings: Jaitley

New Delhi, March 15 (IANS) The government has been probing the cases of some “prominent people” hiding their taxable income as agricultural earnings, but there is no proposal for taxing the farmers, Finance Minister Arun Jaitley said in the Rajya Sabha on Tuesday.   His statement came after members expressed concern over the issue, citing […]

Food prices help ease India’s retail inflation in Feb

Food prices help ease India’s retail inflation in Feb

By Manoj Kumar   NEW DELHI, March 14 (Reuters) – India’s retail inflation eased in February, helped by smaller rises in food prices after edging up for six straight months, raising expectations of a central bank rate cut next month.   Analysts said Raghuram Rajan, Governor of the Reserve Bank of India (RBI), could be […]

SBI releases OROP arrears for 775,000 defence pensioners

Mumbai, March 14 (IANS) The State Bank of India on Monday announced the release of ‘One Rank One Pension’ (OROP) arrears to 775,000 defence pensioners as per the government guidelines.   SBI chairperson Arundhati Bhattacharya said the bank will release the first instalment of 25 percent (one-fourth) of the total arrears up to February 2016 […]

IMF backs unconventional monetary policies despite warnings from emerging economies

IMF backs unconventional monetary policies despite warnings from emerging economies

By Rajesh Kumar Singh   NEW DELHI, March 13 (Reuters) – Unconventional monetary policies of central banks in Europe and Japan received an endorsement from the International Monetary Fund on Sunday, even as policymakers from emerging markets warned that such policies were increasing risks for the global economy.   The debate over the merits of […]

Hope to pass GST, bankruptcy bills in budget session: Jaitley

Hope to pass GST, bankruptcy bills in budget session: Jaitley

New Delhi, March 13 (IANS) The government hopes to enact the Goods and Services Tax (GST) and bankruptcy bills in the second half of the budget session of parliament beginning April 20, Finance Minister Arun Jaitley said on Sunday.   “The current session of parliament has already seen one landmark legislation two days ago. And […]

India bans more than 300 combination drugs sold illegally

India bans more than 300 combination drugs sold illegally

By Aditya Kalra   NEW DELHI, March 12 (Reuters) – India has banned the manufacture and sale of more than 300 combination medicines, including two widely used cough syrups, being sold without government approval, a senior health ministry official said on Saturday.   The move is aimed at curbing the misuse of such medicines in […]

India’s star shines bright in global gloom: IMF chief

India’s star shines bright in global gloom: IMF chief

New Delhi, March 12 (IANS) With young workforce and continuing policy reform, India has not only emerged as the fastest-growing economy, but its stars also shine bright amid the current global gloom, International Monetary Fund (IMF) Managing Director Christine Lagarde said on Saturday.   “It’s fitting we meet in India,” said Lagarde in her remarks […]

Rajan skirts rate cut talks, but comforted by fiscal targets

Rajan skirts rate cut talks, but comforted by fiscal targets

New Delhi, March 12 (IANS) Reserve Bank of India (RBI) Governor Raghuram Rajan on Saturday kept the cards close to his chest on possible easing of monetary policy with rate cuts, but said the government’s decision to stick to its fiscal targets was comforting.   “The 3.5 percent number (fiscal deficit as a percentage of […]

India will pursue economic reforms agenda: Modi

India will pursue economic reforms agenda: Modi

New Delhi, March 12 (IANS) Prime Minister Narendra Modi on Saturday said even as India is now the fastest growing economy and ranks at the top in terms of favoured investment destination, reforms will continue to be pursued in the right earnest.   “My agenda for reform to transform is yet to be finished,” the […]

Lok Sabha passes Aadhaar bill to further empower citizens

New Delhi, March 11 (IANS) The Lok Sabha on Friday passed the Aadhaar bill to give legal teeth to the government in ensuring its subsidies and services reach the intended beneficiaries directly, thereby going beyond the scheme’s current mandate of merely assigning a unique identity to residents.   The Aadhaar (Targeted Delivery of Financial and […]