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The Indian government is considering a plan to loosen the fiscal deficit target so that it could spend an additional Rs 500 billion to bolster the economy. Photo: PTIBusiness
Govt meets fiscal deficit target of 3.5 per cent for FY 2018

According to the data released by the Controller General of Accounts, the revenue deficit was 2.65 per cent of the GDP.

31 May 2018 7:16 PM IST

Against the backdrop of uncertain economic growth and rapid technological changes, CEOs in India continue to be confident of their companys growth prospects.Business
Indian economy expands 7.7 per cent in Q4, 6.7 per cent in FY18

However, the economic growth slows to 6.7 per cent in 2017-18 compared to 7.1 per cent in 2016-17.

31 May 2018 6:52 PM IST

Direct tax collection in the fiscal year just ended has exceeded the targets with a record 6.84 lakh income tax returns being filed, officials said today.Business
Tax reforms to expand revenue base in India: Moody's

India and Sri Lanka have both recently streamlined and levied their VAT or GST regimes.

31 May 2018 3:50 PM IST

With multiple agencies probing the alleged Rs 13,000-crore fraud at state-run Punjab National Bank, the Reserve Bank of India (RBI) says it has conducted its scrutiny and the matter is currently under examination for \enforcement action\.Business
RBI seen turning hawkish in June, raising rates in August

RBI may announce a change in policy stance during the June meeting and follow that up with a hike in August.

31 May 2018 12:39 PM IST

Finance MinistryBusiness
Exporters' GST refund: Fin Min says only Rs 14,000 crore pending

Solutions are being put in place to fast-track clearances.

30 May 2018 6:19 PM IST

India and Indonesia on Wednesday announced the signing of a Memorandum of Understanding (MoU) between Confederation of Indian Industry and KADIN to promote bilateral economic, trade and technological cooperation between the two nations. (Photo: ANI)Business
India, Indonesia ink agreement to promote economic cooperation

The MoU was signed by the Director General of CII and the Vice Chairman of KADIN.

30 May 2018 1:14 PM IST

The latest round of wage revision for all banks is due from 1 November 2017. (Photo: ANI)Business
Banks ask exporters to close Iran deals due to US sanctions

Two Indian banks have asked exporters to complete their financial transactions with Iran by August.

30 May 2018 12:43 PM IST

Banning of letters of undertaking (LoUs) and letters of comfort (LoCs) by the RBI as trade finance instruments is likely to reduce financial flexibility of importers, a Fitch group company said on Wednesday.Business
RBI audit reveals NPA divergence of Rs 45,600 crore in PSBs

SBI had reported a net loss of Rs 3,969.2 crore in fourth quarter of last fiscal compared to Rs 1,045.5 cr.

30 May 2018 8:50 AM IST

The government is considering converting GST Network- which is handling the IT infrastructure of the new indirect tax regime - into a state-owned company, an official source said.Business
Rs 20,000 crore GST refund pending with govt, says FIEO

FIEO President Ganesh Gupta said the delay in refund is mainly impacting small exporters.

29 May 2018 7:17 PM IST

The Reserve Bank of India on Thursday kept the key policy rate unchanged at 6 per cent for the fourth consecutive time.Business
Sudha Balakrishnan appointed as first CFO of Reserve Bank of India

The CFO will be responsible for reporting of financial information of the central bank.

29 May 2018 7:05 PM IST

Reserve Bank of India (RBI) on Thursday directed all payment system operators in India to store data within the country.Business
Fuel prices to weigh on RBI's MPC 3-day meet from June 4

The domestic retail petrol and diesel prices are at all time high on account of rise in crude oil prices.

29 May 2018 5:12 PM IST

EEPC India on Monday said Indias exports grew by 17 per cent to USD 76 billion in financial year 2017-18.Business
India's exports seen hitting USD 350 billion in 2018-19: trade body

FIEO also hopes India will actively engage with the United States to protect local industry's interest.

29 May 2018 3:23 PM IST

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