Business, Economy, 1st Feb 2018, News & Stories from India

Thursday, Apr 25, 2024 | Last Update : 07:08 AM IST

Business Economy 01 Feb 2018

Business, Economy, 01 Feb 2018

The Budget also puts spotlight on cyber technologies, and focuses on creating centres of excellence for emerging technologies. (Photo: Pixabay)

Digital focus can help create jobs, better rural lives: Industry

Budget proposal to double allocation to Digital India initiative to Rs 3,073 cr is a fine booster to transform digital economy.

01 Feb 2018 5:18 PM

Finance Minister Arun Jaitley. (Photo: PTI)

Jaitley raises MUDRA lending target to Rs 4 lakh crore for FY'19

Of the total loan accounts, 76 per cent are of women and more than 50 per cent belong to SCs, STs and OBCs.

01 Feb 2018 4:46 PM

The amount for defence pension is an increase of 26.60 per cent over the allocation of Rs 85,740 crore last year. (Photo: Twitter/ANI)

Rs 2.95 lakh crore allocated for defence budget for 2018-19

Outlay for defence budget amounted to 12.10 per cent of the total budget of Rs 24,42,213 crore for 2018-19.

01 Feb 2018 4:18 PM

Government had made a provision of Rs 44,342.2 crore revenue from telecom services in 2017-18.

Govt expects Rs 48,661.42 crore from telecom sector in FY19

Govt earns revenue in the form of mainly licence fees and spectrum usage charges from telecom operators.

01 Feb 2018 3:36 PM

The state government would bear 20 per cent or Rs 349 crore of the total cost. (Photo: File/Representational)

Budget for Railways: Bengaluru, Mumbai big gainers

Bengaluru will get a corpus of Rs 17,000 crore for the local rail network. Karnataka goes to polls this year.

01 Feb 2018 2:24 PM

Nearly $190 million was earmarked to improve smaller local health centres accessed by many of the most vulnerable.

Union Budget 2018 unveils healthcare for 500 million of India's poorest

The government currently provides 30,000 rupees towards healthcare for poor families.

01 Feb 2018 2:11 PM

Govt to soon announce steps to tackle NPAs of MSMEs: Jaitley

MUDRA Yojana launched in April 2015 has led to a sanction of Rs 4.6 lakh crore in credit to some 10.38 lakh MUDRA loans.

01 Feb 2018 1:48 PM

Finance Minister Arun Jaitley. (Photo: Twitter/ANI)

Budget 2018: Govt misses fiscal deficit target; higher at 3.5 pc in FY'18

Fiscal deficit has a bearing on sovereign rating of the country as well as the debt market.

01 Feb 2018 1:21 PM

Last year, Jaitley had informed Parliament that there are no regulations governing virtual currencies in India.

Cryptocurrencies not legal, will eliminate their use: Jaitley

RBI has not given any licence to any entity/company to operate such currencies.

01 Feb 2018 12:45 PM

Agri-products account for over 10 per cent of the country’s total exports. (Representatioonal Image)

Govt to take steps to promote agri commodity exports: Jaitley

India's agri exports potential is as high as USD 100 billion against a current export of USD 30 billion.

01 Feb 2018 12:31 PM

Total exports value was recorded at USD 274.64 billion in 2016-17, up from USD 262.29 billion in the preceding year.

Union Budget 2018 predicts exports to expand by 15 per cent this year

The country's merchandise shipments rose 12.36 per cent to USD 27.03 billion in December 2017.

01 Feb 2018 11:59 AM

Finance Minister Arun Jaitley. (Photo: AP)

India USD 2.5 trillion economy, set to be 5th largest in world: Jaitley

Finance Minister said in Budget speech that India will grow 7.2-7.5 per cent in second half of current fiscal.

01 Feb 2018 11:53 AM

Nikkei Manufacturing Purchasing Managers’ Index, compiled by IHS Markit, fell to 52.4 last month from December’s 54.7. (Photo: AP)

India factory growth cools to 3-month low in Jan on weaker demand

Economy is still struggling to recover from a weaker demand trend seen since ban of high-value currency notes in Nov 2016.

01 Feb 2018 11:22 AM

Finance Minister Arun Jaitley. (Photo: File)

Budget 2018: Relief for the salaried, standard deduction back of Rs 40k

There were hopes ahead of Budget that Finance Minister Arun Jaitley would make the middle class happy.

01 Feb 2018 10:54 AM

The stationery owners said the 12 per cent GST has tremendously affected business, and indicated that a further increase would incur them heavy losses.

Budget 2018: GST revision concerns retailers

Gold jewellery retailers said they prefer old tax of one per cent on ornaments instead of three per cent.

01 Feb 2018 10:23 AM

The survey also revealed that citizens want the government to widen the tax base and create better awareness about paying income tax.

India wants Budget to focus on rural sector, says survey

Around 25 per cent of the respondents were in favour of reducing the peak income tax rate to 25 per cent from 30 per cent.

01 Feb 2018 7:07 AM

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Dilip Cherian