India within striking distance of attaining positive growth: RBI

India’s GDP is within the striking distance of attaining positive growth, the Reserve Bank said observing that the letter “V” in the V-shaped recovery stands for the vaccine. The Indian government launched the world’s biggest vaccination drive on January 16 to protect people from COVID-19. “What will 2021 look like? The shape of the recovery […]

Petrol, diesel prices rise for sixth straight day

Petrol and diesel prices rose for the sixth day in a row on Monday as rates went up by 26-30 paise per litre. Petrol price was hiked by 30 paise per litre and diesel by 26 paise, according to a price notification of oil marketing companies. Rates for petrol in Delhi rose to Rs 83.71 […]

GST revenue collection at ₹1.04 lakh crore in November

Revenue from Goods and Services Tax (GST) stood at over Rs 1.04 lakh crore in November as against Rs 1.05 lakh crore collected in the previous month, the Finance Ministry said in a statement. The collection in November 2020 is 1.4 per cent higher than in November 2019 when the GST mop-up was Rs 1,03,491 […]

Global markets plummet after Trump tests positive for COVID-19

US stock futures plunged on Friday after President Donald Trump said that he and First Lady Melania Trump have tested positive for coronavirus. Dow futures were last down 450 points or 1.6 per cent. S&P 500 futures were down 1.6 per cent and Nasdaq futures were down 1.9 per cent, reports CNN. “Tonight, @FLOTUS and […]

Facebook-Jio partnership will be catalyst to make India World’s leading digital society, says Mukesh Ambani

Mukesh Ambani, Chairman of Reliance Industries Ltd (RIL), which signed a mega Rs 43,574 crore deal with Facebook giving the US-based social media giant a 9.99 per cent equity stake in homegrown mobile network Jio, said the partnership will prove to be a catalyst to make India into one of the world’s leading digital societies. […]

Monthly balance maintenance waived off on 44.51 crore SBI savings bank accounts

State Bank of India (SBI) announced on Thursday that it has decided to waive maintenance of Average Monthly Balance (AMB) for all savings accounts. The charges on maintaining AMB have been waived off on all 44.51 crore SBI savings bank accounts, according to a press release by the bank. Currently, SBI Savings Bank customers need […]

Union Budget 2020 key highlights: Massive tax bonanza by Govt

Union Finance Minister Nirmala Sitharaman tabled the Budget for the year 2020-21 in the Lower House of the Parliament on Saturday. The Finance Minister proposed a new tax regime in Budget 2020 slashing income tax rates and rejigging income tax slabs to reduce total tax payable by individuals. As per the new regime, 70 tax […]

Cabinet approves capital grant for North East Natural Gas Pipeline Grid

The Cabinet Committee on Economic Affairs (CCEA) on Wednesday approved the North East Gas Grid Project of Indradhanush Gas Grid Ltd (IGGL) with viability gap funding at 60 per cent of the estimated cost of Rs 9,265 crore. The quantum of viability gap funding will include interest during the construction and not be linked with […]

GDP slumps to 4.5 pc in Q2 FY20

The economic growth slowed to 4.5 per cent in the July to September quarter from 7.1 per cent in the corresponding period of last year, the government data showed on Friday. The economy had a weak performance last quarter with the GDP growth rate dropping to 5 per cent. The slowdown in Q2 FY20 was […]