Page 2800 - Economy & Policy News

NMDC retail portion OFS fully subscribed; govt to fetch Rs 12 billion

The sale of 2.52% in NMDC at a floor price of Rs 153.50 per share will fetch about Rs 12 billion to the exchequer

Hostel mess facility to attract 5% GST without input tax credit: FinMin

Supply of food or drink provided by a mess or canteen is taxable at 5% without Input Tax Credit

HDFC Bank pegs GDP growth at 7.3% in FY19 on rural push, consumption surge

It also warned of a surge in oil prices causing the 'twin deficit' problem with a surge in fiscal and current account gaps

UIDAI introduces 'Virtual ID' to avoid sharing of your Aadhaar number

The Unique Identification Authority of India (UIDAI) has also introduced the concept of 'limited KYC'

India Inc's topline growth to hit 5-year high of 9% in Q3: Crisil

However, profits will continue to contract, primarily due to the rising commodity prices

Country's oil demand growth weakest since 2013 as economy declines

Cash ban, new sales tax affected oil demand in 2017 and diesel demand grew 3.3% and gasoline use rose 7.1%: Analysts

FDI norms tweaked in retail trading, aviation: All you need to know

Till now, government approval for FDI in single brand retail was given automatically when it was to the extent of 49 per cent of the paid-up capital, beyond which government permission was required

Money laundering: Cash limit may be brought down to Rs 200,000 from Rs 1 mn

Reporting provisions under PMLA impose obligations on reporting entities like banks, financial institutions, and intermediaries such as stockbrokers

Larger PSBs to get bigger pie of recapitalisation bonds, says Fitch

The government is front-loading the capital injections it plans to provide through recapitalisation bonds over the next two years

Chips down for UP potato growers as margins become wafer thin

Yogi constitutes committee over potato farmers' distress

Keep away from benami transactions or face action, warns I-T dept

Titled 'Keep Away from Benami Transactions', the taxman's ad described black money as a 'crime against humanity'

Reforms to slowdown in 2018 ahead of Lok Sabha polls: Moody's

A busy election schedule will slow reform momentum in some Asia Pacific economies, the report says

FDI norms relaxed, foreign airlines can invest up to 49% in Air India

A formal notification is expected later on Wednesday

IFC to back Mahindra Renewables to develop solar park in MP

The estimated project cost is around Rs 12.8 billion

Aadhaar linking is voluntary, it's not mandatory to avail services: Experts

There is no penal consequence for people who don't want to link Aadhaar, says an activist

Trump to attend Davos World Economic Forum, may meet Modi on 22 January

Modi and Trump met twice last year - in Washington DC and in Manila at the Asean meet.

Expanding Metro Footprint-I: Network set to grow fourfold in seven years

In the first of a two-part series, we look at the Metro network expansion and the challenges that come with it

Expanding Metro Footprint-II: When rapid transport is the only way out

In the concluding part of a two-part series, we look at how state governments are banking on Metro to decongest cities

India has enormous potential, says World Bank, projects 7.3% growth in 2018

India, despite initial setbacks from demonetisation and GST, is estimated to have grown at 6.7 per cent in 2017

Sovereign wealth fund proposal back; may become holding company for assets

The fund is tentatively named 'Investment Management Company'. It may not be a listed entity and could be partly funded by the Union Budget