Business, Economy, 15th Oct 2017, News & Stories from India

Saturday, Apr 20, 2024 | Last Update : 09:55 AM IST

Business Economy 15 Oct 2017

Business, Economy, 15 Oct 2017

The International Monetary Fund (IMF) shot down media reports speculating that it was pushing for the Public Distribution System (PDS) to be replaced by the Universal Basic Income (UBI) in India. (Photo: AFP)

IMF not endorsing universal basic income model in India

The reports emerged after the IMF said said the UBI will outperform the PDS in terms of coverage, progressivity, and generosity.

15 Oct 2017 6:44 PM

RBI refuses to share details of Swachh Bharat logo on Rs 500, Rs 2,000 notes

The RTI query was filed with the Department of Economic Affairs -- that deals with the policy formulation in respect of currency.

15 Oct 2017 5:49 PM

A group of ministers on making the GST composition scheme more attractive held its first meeting on Sunday.

Group of ministers meet today to discuss GST composition scheme

The 5-member GoM, under Assam Finance Minister Himanta Biswa Sarma, has also been tasked to revisit GST rates for restaurants.

15 Oct 2017 5:20 PM

A BofAML report said the Reserve Bank is likely to go for a rate cut in December after cooling inflation figures.

RBI likely to cut rate in December post September's steady inflation: BofAML

As per Consumer Price Index (CPI) data, retail inflation came in at 3.28 per cent in September.

15 Oct 2017 4:28 PM

he finance ministry is working on capital infusion strategy for the public sector banks (PSBs) and it is expected to be finalised by December.

FinMin working on capital infusion plan for PSBs, may finalise by Dec

The Department of Financial Services is assessing the capital needs of various banks based demands made by them, sources said.

15 Oct 2017 3:47 PM

Union Minister Nitin Gadkari on Sunday said India has embarked on implementation of the BBIN motor pact with Bangladesh and Nepal.

India starts on implementation of motor pact with Bangladesh, Nepal: Gadkari

The minister said that Bhutan has suggested that Bangladesh, India and Nepal may consider implementation of the MVA.

15 Oct 2017 1:41 PM

The IMF's steering committee has told policymakers to guard against complacency, citing medium-term economic risks and rising geo-political tensions. (Photo: AFP)

IMFC warns against complacency, says global economic recovery incomplete

The IMFC in a communique issued on Sunday, said there has been a notable pickup in investment, trade, and industrial production.

15 Oct 2017 12:34 PM

Niti Aayog Vice Chairman Rajiv Kumar has said the economic slowdown that began in 2013-14 has bottomed out. (Photo: AP/Representational)

India's GDP likely to grow 7 per cent in FY18: Niti Aayog Chairman

The Niti Aayog vice chairman said the country did very well from 2007-13 and the downward cycle started in 2013-14.

15 Oct 2017 11:52 AM

Finance Minister Arun Jaitley has said that he never talked about any stimulus package for boosting economy. (Photo: PTI)

Never talked about fiscal stimulus: Jaitley

The Finance Minister said that gradually India has been moving on a glide path, which will continue.

15 Oct 2017 11:32 AM

Foreign portfolio investors have pumped a staggering USD 1.5 billion into the country's debt markets in the first two weeks of this month. (File Photo)

FPIs invest USD 1.5 billion in debt markets in October in two weeks

According to latest depository data, FPIs invested a net sum of USD 1.57 billion in debt markets during October 3-13.

15 Oct 2017 11:15 AM

Finance Minister Arun Jaitley has said that most of the pending issues with Iran particularly relating to the oil payment have been resolved. (Photo: PTI)

Oil payment, other issues with Iran resolved: Jaitley

Finance Minister Arun Jaitley also said that the Chabahar Port is very 'strategic' for India as it will serve both Iran and Afghanistan.

15 Oct 2017 10:26 AM

Describing the two major recent reforms in India - the notes ban and Goods and Services Tax (GST) - as a monumental effort, Lagarde said it is hardly surprising that there 'is a little bit of a short-term slowdown' as a result. (Photo: AFP/File)

IMF chief hails note ban, GST, says Indian economy on 'solid track'

The comment comes days after the IMF lowered its growth forecast for the current and the next year

15 Oct 2017 9:47 AM

Jaitley said the positive responses and statements about the Indian economy by the world leaders had 'increased the confidence of India'. (Photo: PTI/File)

Govt carrying out right economic policy, not populism: Arun Jaitley

The finance minister took a shot at his critics who claim that demonetisation has hurt the Indian economy -- at least in the short-run.

15 Oct 2017 9:38 AM

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Shobhaa De