Business, Economy, 25th Jul 2017, News & Stories from India

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Business Economy 25 Jul 2017

Business, Economy, 25 Jul 2017

The actual performance of India's economy during the last two years of the UPA government (2012 -13 and 2013-14) was worse than the 'policy logjam' scenario.

India's GDP in last 2 yrs of UPA rule below projections: Niti Aayog

However, as per revised GDP series, economic growth was a little better and stood at 5.6 per cent and 6.6 per cent.

25 Jul 2017 9:06 PM

A combined 5,076 cases of active banking frauds causing losses of Rs 16,78,853 lakh were reported by 76 banks during 2016-17.

76 banks report 5,076 cases of bank fraud causing Rs 16,78,853 lakh loss

ICICI Bank reported 688 cases causing loss of Rs 36,844 lakh.

25 Jul 2017 8:21 PM

Over 6.83 lakh companies have permanent account number (PAN) but did not file income tax returns for assessment year 2016-17. (Representational Image)

More than 6.83 lakh firms have PAN but did not file I-T returns: govt

As per database of Income Tax department, Delhi had most number of such companies at over 1.44 lakh.

25 Jul 2017 7:29 PM

The proposed anti-profiteering authority under the new GST regime will take up for scrutiny only those cases that have mass impact, said Revenue Secretary Hasmukh Adhia.

GST anti-profiteering body to take up cases of mass impact, says Adhia

However, no monetary threshold has been fixed on cases to be picked up for scrutiny by the authority.

25 Jul 2017 7:17 PM

Ten state-owned banks have submitted their turnaround plans to the government, which is a pre-requisite for getting fund infusion. (Representational Image)

10 PSU banks submit 'recapitalisation' plans to govt

Allahabad Bank, Dena Bank, UCO Bank, United Bank of India and Bank of Maharashtra are some of the 10 PSU banks.

25 Jul 2017 6:59 PM

Finance Minister Arun Jaitley (Photo: PTI)

RBI verifying numerical accuracy of old notes: Jaitley

Central bank has been entrusted with job of counting old notes deposited post cash recall.

25 Jul 2017 6:50 PM

Retail inflation in India is expected to rise "noticeably" from 'trough' in June to 4.4 per cent in the second half of this year, says Nomura.

Retail inflation to shoot above RBI target in second half of 2017:Nomura

This rise will be led by rural wages, MSPs, a closing output gap and supply demand cobweb model of food prices starting to kick in.

25 Jul 2017 5:16 PM

Global smartphone demand totalled 347 million units in 2017, up 4 per cent year-on-year.(Photo: Nokia)

GST will not impact smartphone demand in India: report

GfK forecasts overall smartphone demand in the region will total 234 million units in 2017.

25 Jul 2017 4:34 PM

Need examples to deter benami deals: Arun Jaitley

Pressures are built using democratic polity in order to assert a non-existent right of not to pay taxes.

25 Jul 2017 12:01 PM

Road Transport and Highway Minister Nitin Gadkari.

Driverless cars won't be allowed in India: Gadkari

Govt will focus on training drivers as adequate driving skills can provide employment to about 50 lakh people.

25 Jul 2017 11:02 AM

Niti Aayog Vice Chairman Arvind Panagariya.

Niti for increasing savings, investments to boost growth

Low levels of savings and investment rates are still a cause of concern.

25 Jul 2017 10:54 AM

Generating invoices for dealings above Rs 200 and keeping invoice records in serial number even if maintained manually.

GSTN portal begins invoice uploading for businesses

Taxpayer has limited number of invoices, he can directly enter the details at the GST portal.

25 Jul 2017 10:48 AM

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Sunil Gatade