Economy

The government on Tuesday proposed a new transaction structure for the bid process for greenfield airports, switching from a revenue share model to a fixed fee per passenger to be paid to the concessioning authority. The Ministry for Civil Aviation is betting that the proposed change to the bid parameters …

Will however be a ‘negative’ for outbound tourists: industry The sharp depreciation of the rupee against major currencies will help inbound tourism to grow while outbound travel will be hit. “A weakened rupee has made India a cheaper foreign destination,” said Subhash Goyal, Chairman, Assocham Tourism Committee. “We expect inbound …

The rupee breached the psychological barrier of 70-to-a-dollar for the first time as the sharp fall in the Turkish lira continued to affect all emerging market currencies. The rupee had a strong opening against the dollar at 69.85, but fell sharply to breach the 70-mark and went on to depreciate …

The Ayushman Bharat-National Health Protection Scheme (AB-NHPS), likely to be launched on Wednesday, aims to provide a medical coverage of Rs. 5 lakh a family every year. The scheme, estimated to benefit more than 10 crore poor families, will be implemented on a pilot basis in select States. The nationwide …

‘Moderate food inflation to continue till MSP impact hits’ Retail inflation eased to a nine-month low of 4.17% in July as food inflation cooled to its lowest level since July 2017, according to official data released on Monday. Inflation based on the Consumer Price Index (CPI) slowed from the 4.92% …

MSMEs with a turnover of up to Rs. 5 crore may be exempted from filing returns The run-up to the polls in Gujarat saw a massive rejig of Goods and Services Tax (GST) rates across the board as disenchantment with the regime was at a peak. Ahead of the Assembly …

Belagavi comes second Mangaluru city has ranked 41st in the country and top in the State in the Ease of Living Index 2018 released by the Union Ministry of Housing and Urban Affairs in Delhi on Monday. Among the seven cities assessed in the State, Belagavi stood second, with the …

Centre notifies due date for filing GST returns The government has modified the due date for filing of final GST sales returns by businesses with turnover exceeding Rs. 1.5 crore to the eleventh day of the succeeding month. In a notification, the Central Board of Indirect Taxes and Customs has …

To cater to demand for trained manpower in disruptive tech The International Institute of Digital Technologies (IIDT), started by the AP Electronics and IT Agency (APEITA) in Tirupati in February, 2017 to cater to the increasing demand for trained manpower in disruptive technologies, has decided to set up a campus …

Aim is to reduce oil import bill by Rs. 12,000 crore, says Prime Minister Modi India will triple its ethanol production over the next four years till 2022 and this will save Rs. 12,000 crore in the country’s oil import bill, Prime Minister Narendra Modi said on Friday, which is …

‘Increase aided by pickup in investment demand, part-spurred by a rise in government expenditure’ Growth in industrial activity picked up to a five-month high of 7% in June, driven by an across-the-board acceleration in growth rates including in sectors such as manufacturing, electricity, infrastructure, and capital and consumer goods, according …

PM-led panel yet to appoint CEOs One-third of public sector banks remain headless as a Prime Minister-headed panel is yet to clear the CEO appointments. The chief executive officer post at three PSBs remain vacant for more than seven months. On July 31, two more PSB CEOs — Rakesh Sharma …

Discontinuation of the facility has resulted in 2-2.5% increase in cost of credit: Parliamentary panel The Reserve Bank of India’s decision to discontinue the issuance of Letters of Undertaking (LoU) and Letters of Credit (LoC) for trade credit was a “knee-jerk reaction” to the Punjab National Bank fraud case and …

She helmed the company for 12 years Indra Krishnamurthy Nooyi will step down as the CEO of PepsiCo after 12 years in the position, the company announced on Monday. Taking over the reins of the global giant in 2006, Ms. Nooyi steered the company through the 2008 financial crisis and …

India said on Saturday that delayed higher tariffs against some goods imported from the U.S. would go into force on September 18. New Delhi, incensed by Washington’s refusal to exempt it from new tariffs, decided in June to raise import tax from August 4 on some U.S. products, including almonds, …

Italian firm developing CNG, LPG and battery-powered vehicles to help meet 5 million sales target Piaggio Vehicles Pvt. Ltd. (PVPL), a unit of Italy’s Piaggio Group, is focussed on developing vehicles powered by alternative fuels such as CNG, LPG and electrically charged batteries to achieve its target of selling 5 …

Reserve Bank of India (RBI) Governor Urjit Patel has flagged the risks to macroeconomic stability from a potential ‘currency war’ in the wake of rising global trade tensions and said the central bank’s decision on Wednesday to raise interest rates was aimed at firmly anchoring inflation expectations. “RBI’s statements on …

A GI product is primarily an agricultural, natural or a manufactured product (handicraft and industrial goods) originating from a definite geographical territory. Darjeeling Tea, Tirupati Laddu, Kangra Paintings, Nagpur Orange and Kashmir Pashmina are among the registered GIs in India. Mr. Prabhu said the initiative would help promote awareness and …

Union Finance Minister Piyush Goyal has written to the Joint Parliamentary Committee studying on the controversial Financial Resolution and Deposit Insurance (FRDI) Bill, stating his intention to withdraw it. The Joint Parliamentary Committee has also reportedly given its approval for the withdrawal of the Bill, following which the government will …