ECONOMY

Little room for budget giveaways as note ban clouds revenue outlook

January 23, 2017 | Reuters

Prime Minister Narendra Modi's decision late last year to scrap high-value bank notes has put his finance minister in a bind ahead of the annual budget next month.

Supreme Court to hear petition seeking to defer budget

January 20, 2017 | Reuters

The Supreme Court said on Friday it would hear a plea at the start of next week that seeks to postpone the government's annual budget, due to be delivered on Feb. 1, until after five forthcoming state elections are held.

What all you can declare under the government’s black money amnesty scheme

January 19, 2017 | Aman Malik

The income tax department on Wednesday came out with a clarification on the Pradhan Mantri Garib Kalyan Yojana (PMGKY), which allows people with unaccounted wealth to come clean and declare their untaxed assets.

Demonetisation: Why you may soon have to answer the taxman

January 19, 2017 | Aman Malik

Did you deposit Rs 10 lakh or more in old currency after 8 November last year in one or more bank accounts? If you did, be prepared to answer the taxman.

Demonetisation: RBI injects Rs 9.2 trillion of new notes

January 18, 2017 | Reuters

The Reserve Bank of India has injected 9.2 trillion rupees ($135.21 billion) worth of new currency notes into the banking system to help replace the notes banned in November, a parliamentary panel member quoted central bank governor Urjit Patel as saying on Wednesday.

China eases foreign investment rules in banking, other sectors

January 17, 2017 | Reuters

China's cabinet issued measures on Tuesday to further open the world's second-largest economy to foreign investment, including easing limits on investment in banks and other financial institutions.

GST rollout now likely from July, says finance minister Jaitley

January 16, 2017 | Reuters

India's new nationwide sales tax is now expected to be rolled out from July after Finance Minister Arun Jaitley on Monday managed to break a three-month long deadlock on who would administer the tax.

IMF slashes India growth forecast for FY17, FY18 on cash clampdown

January 16, 2017 | Reuters

The International Monetary Fund on Monday raised its forecast for China's economic growth this year by 0.3 percentage points to 6.5 percent, on expectations of continued policy stimulus.

Factory output rises in November despite demonetisation

January 12, 2017 | Oineetom Ojah

India’s factory output rose 5.7% in November, compared with 1.8% decline in October, while retail inflation declined to 3.4% in December from 3.6% in the month before, official data showed on Thursday.

India consumer inflation eases to two-year low in December

January 12, 2017 | Reuters

India's annual consumer price inflation eased to a lower-than-expected 3.41 percent in December, its lowest level in more than two years, helped by a sharp cooling in food prices, government data showed on Thursday.

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