RBI Increased the Repo Rate by 25 Basis Points, MSF Rate Brought Down

Published on: 21-SEP-2013

RBI on 20 September 2013 increased the repo rate or the short term lending rate by 25 basis points to 7.5 per cent from 7.25 per cent with immediate effect.

RBI liberalised norms for banks to open branches in Tier I cities

Published on: 20-SEP-2013

Reserve Bank of India (RBI) on 19 September 2013 announced that banks can open their branches in tier 1 centers without taking its permission in each case.

Bhartiya Mahila Bank Started Recruitment Process

Published on: 19-SEP-2013

Bhartiya Mahila Bank, the first nationalised bank for women expected to be operational from November 2013.

India and Latvia signed agreement on Double Tax Avoidance Agreement

Published on: 19-SEP-2013

The Government of India signed an agreement with Latvia on Double Tax Avoidance Agreement (DTAA).

Net direct tax collections increased by 12.5 percent for the current financial year

Published on: 19-SEP-2013

Net direct tax collections increased by 12.5 percent for the current financial year

Union Minister of Finance Announced Austerity Measures to Contain Rising Fiscal Deficit

Published on: 19-SEP-2013

P. Chidambaram on 18 September 2013 announced strictness measures such as a slash in the non-plan expenditure by 10 percent to contain fiscal deficit.

Inflation Increased to 6.1 percent in August 2013; Highest in Six Months

Published on: 19-SEP-2013

Inflation Increased to 6.1percent in August 2013; Highest in Six Months

Union Government of India Hiked the Import Duty on Gold

Published on: 18-SEP-2013

The Union Government of India hiked the import duty on gold from 10 percent to 15 percent

RBI appealed against currency garlands

Published on: 17-SEP-2013

public not to use bank notes for making garlands

Union Government slashed Import Tariff Value of Gold and Silver

Published on: 16-SEP-2013

The Union Government has further slashed the import tariff value of gold to 432 dollars per 10 grams and silver to 736 dollars per kilogram.

SEBI relaxed KYC norms for foreign investors

Published on: 13-SEP-2013

Securities and Exchange Board of India (SEBI) on 12 September 2013 issued the new Guideline to make Know Your Client requirements (KYC).

Industrial output increased by 2.6 percent in July 2013

Published on: 13-SEP-2013

Index of Industrial Production (IIP) with base year (2004-2005=100) released the data on Industrial output on 12 September 2013.

Cabinet approved the proposal to invest 4.3 Billion $ in the World Bank Bonds

Published on: 13-SEP-2013

Union Cabinet approved a proposal to invest in the bonds of the World Bank Group. It also approved proposal to set two semiconductor manufacturing facilities.

Economic Outlook 2013-14 Released:Economy to Grow at 5.3 Percent in 2013-14

Published on: 13-SEP-2013

The Economic Advisory Council to the Prime Minister on 13 September 2013 released the document Economic Outlook 2013-14

CCEA allocated Additional Five Million Tonnes of Foodgrains to BPL Families

Published on: 13-SEP-2013

CCEA approved an additional allocation of five million tonnes of foodgrains to families below the poverty line (BPL)

RBI constituted Expert Committee to revise and strengthen Monetary Policy Framework

Published on: 13-SEP-2013

RBI has constituted an expert committee to examine its Current Monetary Policy Framework. It will be headed by Dr. Urjit Patel.

The Government Notified Changes in the FDI Policy

Published on: 12-SEP-2013

The Union Government of India on 10 September 2013 notified changes in the FDI policy

Russia Lifted Ban on Import of Non-Basmati Rice and Oilseeds from India

Published on: 11-SEP-2013

Russia lifted the ban on import of non-basmati rice from India on 10 September 2013. It also lifted the ban on the oilseeds.

Forward Markets Commission’s Administrative Control shifted to Finance Ministry

Published on: 10-SEP-2013

The control of Forward Markets Commission was transferred to Ministry of Finance from Department of Consumer Affairs under the Ministry of Food.

Currency Swap Arrangement with Japan enhanced to 50 billion US dollar

Published on: 10-SEP-2013

Bilateral Currency Swap Arrangements between India and Japan expanded to 50 billion US dollars.

SEBI barred 34 entities of Capital Market for Fraudulent Dealings

Published on: 09-SEP-2013

SEBI barred 34 entities from the capital market for fraudulent dealings in the shares of 12 companies. Sunil Mehta was the main conspirator.

India's Onion Exports fell Sharply by 81 Percent in August 2013

Published on: 09-SEP-2013

India's onion exports fell sharply by 81 percent to 29247 tonnes in August 2013 as compared with August 2012

RBI issued norms for Currency Swap Window

Published on: 09-SEP-2013

The norms related to Currency Swap Window were issued by the Reserve Bank of India in Mumbai. Currency Swap facility will be available to Scheduled Banks.

RBI Revised Gold Import Norms to Contain CAD

Published on: 07-SEP-2013

To contain the current account deficit, RBI announced some measures to curb the demand for gold in the month of September 2013...

RBI allowed the Non-Resident Investors to buy Shares under FDI Scheme

Published on: 07-SEP-2013

RBI allowed Non-Resident Investors to purchase shares of Indian entities Under FDI Scheme. They can buy shares from listed stock exchanges.

RBI introduced Forex Swap Window for Public Sector Oil Marketing Companies

Published on: 31-AUG-2013

Forex Swap Window for Public Sector Oil Marketing Companies introduced by RBI.  This will help the oil companies in meeting daily $ requirements.

India’s GDP Dropped to 4.4 Percent; Lowest in 4 Years

Published on: 31-AUG-2013

The Gross Domestic Product (GDP) growth of India decelerated even more to 4.4 percent, the slowest rate of expansion since 2008 economic meltdown.

RBI allowed premature encashment of 8% Savings Bonds for Investors above 60

Published on: 31-AUG-2013

RBI permitted premature encashment of 8% savings of taxable bonds for investors of 60 years and above.

CCEA approved Continuation of Technology Upgradation Fund Scheme

Published on: 30-AUG-2013

Cabinet Committee on Economic Affairs gave its approval for continuing the Technology Upgradation Fund Scheme during the 12th Plan period

CCI cleared stalled Infra Projects worth 1.83 Lakh Crore Rupees

Published on: 29-AUG-2013

The Cabinet Committee on Investment (CCI) on 26 August 2013 cleared 36 projects worth 1.83 lakh crore rupees.

RBI Released the Discussion Paper on ‘Banking Structure in India – The Way Forward’

Published on: 28-AUG-2013

The Reserve Bank of India on 27 August 2013 released the Discussion Paper on ‘Banking Structure in India – The Way Forward’.

The Number of Foreign Tourists in India increased to 207.31 Lakh in 2012

Published on: 27-AUG-2013

The number of foreign tourists visiting India has shown a steady increase in the past three years

RBI announced auction of two 48-days Government of India Cash Management Bills

Published on: 25-AUG-2013

RBI announced auction of two 48-days Government of India Cash Management Bills worth 22000 crore rupees.

RBI imposed Monetary Penalty on 6 Banks for violation of KYC Guidelines

Published on: 25-AUG-2013

The Reserve Bank of India imposed monetary penalty on six banks for violation of the Know Your Customer (KYC)/Anti Money Laundering guidelines.

RBI Further relaxed SLR to provide More Funds to Banks for Lending

Published on: 21-AUG-2013

The Reserve Bank of India (RBI) further relaxed the Statutory Liquidity Ratio (SLR)

Government of India Banned Duty-Free Import of Flat Screen TVs by Air Travellers

Published on: 20-AUG-2013

The Union Government of India on 19 August 2013 banned duty-free import of flat screen televisions by people who travel through air.

Gold Prices hit Eight-Month High at 31760 Rupees

Published on: 18-AUG-2013

Gold price on 17 August 2013 jumped by 700 rupees in Kolkata after stocks and money markets melted

Government imposed MEP of 650 US Dollars per Tonne on Onion

Published on: 17-AUG-2013

Government on 17 August 2013 notified imposition of a minimum export price (MEP) of 650 US dollars per tonne

Import Duty on Gold, Silver & Platinum hiked to 10 Percent by Central Government

Published on: 16-AUG-2013

The Central Government on 13 August 2013 raised customs duty on gold, silver and platinum to 10 percent in a bid to curb the burgeoning Current Account Deficit.

Union Cabinet approved Setting up of Tax Administration Reform Commission

Published on: 16-AUG-2013

The Union Cabinet on 13 August 2013 approved the proposal for setting up of the Tax Administration Reform Commission to establish a stable tax administration.

Indian Railways Carried 343 Million Tonnes of Freight during April–July 2013

Published on: 13-AUG-2013

As per the data released by Ministry of Railways on 13 August 2013, Indian Railways carried 343 million tonnes of freight

India's Exports during July 2013 were valued at 25834.46 Million US Dollars

Published on: 12-AUG-2013

India's exports in July 2013 were valued at 25834.46 million US dollars

Railway Revenue Earnings up by 10.74 Per Cent during April-July 2013

Published on: 12-AUG-2013

The total approximate earnings of Indian Railways on originating basis during 1 April to 31 July 2013 were 44260.16 crore rupees

India's Foreign Exchange Reserves went down to 277.167 billion US dollars

Published on: 10-AUG-2013

Foreign exchange reserves of India has fallen by 2.995 billion US dollars to 277.167 billion US dollars.

RBI announced Weekly Sale of Government Bonds to Check Fall in Rupee Price

Published on: 10-AUG-2013

RBI has decided to sell Government Bonds worth 22000 crore rupees every Monday to check volatility in the foreign exchange market.

CCEA approved export of additional 2 million tonnes of Wheat

Published on: 09-AUG-2013

CCEA on 8 August approved export of additional 2 million tonnes of wheat from godowns of FCI.

Foreign Investment Promotion Board Cleared 12 FDI Proposals Worth 343 Crore Rupees

Published on: 07-AUG-2013

The Government of India cleared 12 FDI proposals worth 343 crore rupees. 3 proposals were rejected and 6 proposals were kept in abeyance.

The Union Government of India Slashed Customs Duty on Import of Rice Bran

Published on: 06-AUG-2013

Customs Duty on the import of rice bran and rice bran oil cake was scraped completely by the Government through notification in August 2013.

CCEA approved continuation of Rajiv Gandhi Grameen Vidyutikaran Yojana in 12th Plan

Published on: 05-AUG-2013

Proposal of the Ministry of Power for continuation of the RGGVY during the 12th Plan period was approved by the CCEA.

Cabinet cleared Disinvestment of 10 percent in Indian Oil Corporation

Published on: 03-AUG-2013

The CCEA on 1 August 2013 approved the proposal for sale of 10 percent Government stake in Indian Oil Corporation (IOC).

CCEA approved Creation of the Special National Investment Fund

Published on: 03-AUG-2013

CCEA approved the creation of the Special National Investment Fund. Its objective is to meet the minimum public shareholding of 10% in 6 CPSEs.

Union Cabinet to continue Interest Subvention of 3 Percent on Crop Loans to Farmers

Published on: 02-AUG-2013

The Union Cabinet of India on 2 August 2013 decided to continue the interest subvention of three per cent on crop loans.

FDI to increase in Print Media from 26 Percent to 49 Percent

Published on: 02-AUG-2013

INS on 2 August 2013 approved a proposal to increase FDI from 26 percent to 49 percent in print media.

Government eased the Norms for FDI in Multi-Brand Retail

Published on: 02-AUG-2013

Union Cabinet eased the FDI norms for multi-brand retail chains. It also widened the scope of the definition of terms, Small and Control.

The Rate of Interest Subvention Scheme for Exports Increased to Three Percent

Published on: 01-AUG-2013

The Union government of India on 31 July 2013 decided to enhance the rate of interest subvention scheme for exports.

RBI released the First Quarter Review of Monetary Policy for 2013-14

Published on: 30-JUL-2013

RBI released the First Quarter Review of Monetary Policy for 2013-14 on 30 July 2013.

India, Saudi Arabia decided to set up Saudi-Indian Business Network (SIBN) in Riyadh and Dammam

Published on: 26-JUL-2013

India and Saudi Arabia on 24 July 2013 have decided to set up a Saudi-India Business Network (SIBN) separately in Riyadh and Dammam.

India achieved a Record Production of Pulses

Published on: 23-JUL-2013

India achieved a record production of 18.45 million tonnes of pulses in the 2012-13 crop year ended June 2013.

RBI reduced Realisation Period for Exporters to Nine Months

Published on: 23-JUL-2013

The Reserve bank of India on 21 July 2013 brought down the period of realisation of goods and software to nine months from earlier 12 months.

Reserve Bank of India imposed Restrictions on Imports of Gold

Published on: 23-JUL-2013

The Reserve Bank of India on 22 July 2013 imposed certain restrictions on the import of various forms of gold.

Revived New Bhopal Textile Mills of National Textile Corporation Inaugurated

Published on: 23-JUL-2013

The Union Minister of Textiles, K Sambasiva Rao on 22 July 2013 inaugurated the New Bhopal Textile Mills of NTC in Bhopal.

President of India promulgated the Securities Laws (Amendment) Ordinance 2013

Published on: 21-JUL-2013

Securities Law Amendment Ordinance 2013 was promulgated by Pranab Mukherjee to provide powers to SEBI to tackle with fraudulent investment schemes.

ICAR and the Industry to Commercialize Agri-Technologies Signed more than 60 MoUs

Published on: 21-JUL-2013

ICAR and the Industry to Commercialize Agri-Technologies signed more than 60 MoUs on Agriculture. The MoUs were signed during, Agri-Tech Investors Meet 2013.

RBI:India’s Foreign Exchange Reserves increased to 280.19 Billion US Dollars

Published on: 20-JUL-2013

RBI on 20 July 2013 stated that India’s foreign exchange reserves increased by 21.1 million US dollars.

India signed agreement with Asian Development Bank for 60 million Dollars loan for NKUSIP

Published on: 20-JUL-2013

India signed an agreement with Asian Development Bank (ADB) on 19 July 2013 for a 60 million dollars loan as to improve urban services.

RBI opened 25000-crores Rupees Special Liquidity Window for Mutual Funds

Published on: 18-JUL-2013

The Reserve Bank of India (RBI) on 17 July 2013 opened a special liquidity window for commercial banks to meet the cash requirements of mutual funds (MFs).

Union Govt. approved Proposal to give SEBI more Powers

Published on: 18-JUL-2013

The Union government on 17 July 2013 approved a proposal to amend SEBI Act for providing more powers to the market regulator to crack down on Ponzi schemes.

Government raised FDI in Telecom Sector to 100 percent

Published on: 17-JUL-2013

FDI in Telecom sector raised to 100 percent from 74 percent by the government. However, 49 percent of the investment would be routed through automatic route.

Government allocated 1200 Crore as SCA to TSP in 2013-14

Published on: 16-JUL-2013

1200 crore budget allocated for 2013-14, under SCA to TSP. The budget will be used for employment generation and socio-economic development of Tribals.

RBI announced slew of measures to curb Rupee Volatility

Published on: 16-JUL-2013

Reserve Bank of India (RBI) on 15 July 2013 announced measures to deal with rupee volatility.

RBI fined 22 banks for violating KYC and Anti-Money Laundering Norms

Published on: 15-JUL-2013

RBI on 15 July 2013 imposed fines of around 49.5 crore on 22 private and public sector banks for violating KYC/anti-money laundering norms.

FDI increased into India to 2.32 Billion US Dollars in April 2013

Published on: 15-JUL-2013

FDI into India increased 25 percent year-on-year to 2.32 billion US dollars in April 2013.

India's Exports in June 2013 were valued at 23785.64 Million US Dollars

Published on: 15-JUL-2013

India’s exports during June 2013 were valued at 23785.64 million US dollars (138901.73 crore rupees).

Visa on Arrival Scheme registered 22.9 % Growth in June 2013

Published on: 13-JUL-2013

India witnessed a rise of 22.9 % growth in Visa on Arrival Scheme in June 2013 as compared to June 2012. Japanese Tourists’ availed maximum facility.

CCEA approved Modified Industrial Infrastructure Upgradation Scheme

Published on: 12-JUL-2013

The government on 12 July 2013 approved the Modified Industrial Infrastructure Upgradation Scheme (MIIUS) with an outlay of 1030 crore Rupees.

Jewellers decided to suspend Sale of Gold Coins for Six Months

Published on: 11-JUL-2013

Jewellery retailers across India on 10 July 2013 decided to suspend sale of gold coins and bars for six months.

CCEA approved Disinvestment of government stake in State Trading Corporation and ITDC

Published on: 11-JUL-2013

The Cabinet Committee on Economic Affairs (CCEA) on 11 July 2013 approved the disinvestment of government stake in State Trading Corporation and ITDC.

Direct Tax Collection for June Quarter of FY 2013-14 increased by 11.52 percent

Published on: 10-JUL-2013

Direct Tax Collection of April-June quarter of FY 2013-14 increased by 11.52 percent. Collection of Corporate Taxes has gone up by 7.82 percent.

Cotton Association of India estimated Lower Production of Cotton in 2012-13

Published on: 09-JUL-2013

CAI in its latest report estimated a fall in production of cotton crop in crop season 2012-13 at 353.25 lakh bales against the 373.25 lakh bales of 2011-12.

Proposed Investments in India fell to 75 Percent in FY12-13: Assocham

Published on: 09-JUL-2013

As per the survey conducted by Assocham in July 2013 the proposed investments by domestic and foreign entrepreneurs declined by 75 per cent in FY 2012-13.

Railway Revenue Earnings increased by 11.93 Percent during April - June 2013

Published on: 09-JUL-2013

Indian Railways witnessed an increase of 11.93%in its approximate earnings from 1 April to 30 June 2013 and total goods earnings increased by 9.35%.

China’s consumer inflation rose to 2.7% in June 2013

Published on: 09-JUL-2013

Consumer price inflation/Index of China scaled to 2.7 per cent year-on-year in June 2013 pushed by a 4.9 per cent rise in food prices.

India-Israel trade raised to 6 billion Dollars in 2012-13

Published on: 08-JUL-2013

The trade between India and Israel touched the 6-billion dollars mark during 2012-13.

Foreign Investment Promotion Board approved 7 Pharma FDI proposals

Published on: 06-JUL-2013

The Foreign Investment Promotion Board approved seven Foreign Direct Investments (FDI) proposals for investment in Indian pharmaceutical companies.

Government Released Revised Online Transfer Claim Form for EPFO

Published on: 05-JUL-2013

RTC form for EPFO beneficiaries was released by Sis Ram Ola. The process is designed to develop a system of web based services for online submission of forms.

Foreign Institutional Investors pulled out 5.6 billion Dollars from Debt Market

Published on: 03-JUL-2013

Foreign institutional investors (FII) in the Month June 2013 jumped out of the debt market, withdrawing 5.6 billion dollars.

Telecom Commission approved hike in FDI cap from 74 to 100 percent in Telecom Sector

Published on: 03-JUL-2013

Telecom Commission of India approved enhancement of FDI cap on telecom sector from 74 to 100 percent.

CCEA approved the continuation of National Mission on Food Processing

Published on: 30-JUN-2013

Union Cabinet on 28 June 2013 approved the continuation of the National Mission on Food Processing (NMFP).

Government to set-up 51 new low-cost Airports to Increase Air Connectivity

Published on: 29-JUN-2013

Government took a decision to set-up 51 new airports in tier-II & III cities across India. The decision will boost the aviation sector in India.

Minimum Support Price for Paddy fixed at 1310 Rupees per Quintal

Published on: 28-JUN-2013

CCEA on 28 June 2013 approved the Minimum Support Prices (MSPs) for kharif crops of 2013-14 season.

Union Government raised Rice Support Price by 4.8 Percent

Published on: 28-JUN-2013

Union Government on 27 June 2013 raised the base price of rice to 1310 rupees per 100 kilograms from 1250 rupees as compared to year 2012.

India Third Most Attractive Destination for Investment in the World: UNCTAD

Published on: 27-JUN-2013

A survey conducted by UNCTAD revealed on 26 June 2013 that India was the third most attractive destination, after China and US.

Pipavav Port Regained Top Position in Seafood Exports for Second Consecutive Year

Published on: 26-JUN-2013

Pipavav port located in Saurashtra, Gujarat, remained at the top most position for second year in a row in FY13 on the basis of quantity.

Three IPC Common Sales Contracts Launched by International Pepper Conclave 2013

Published on: 26-JUN-2013

Three IPC Common Sales Contracts were launched by International Pepper Conclave 2013 to standardise the contract terms for export of pepper.

Union Govt extended Power Distribution Reform Package to 12th Plan

Published on: 24-JUN-2013

CCEA on 21 June 2013 decided to extend the R-APDR for the 12th Five-Year Plan period in order to strengthen the distribution sector.

Cabinet Committee Approved Disinvestment of 5 Percent Paid Up Equity in NLC

Published on: 24-JUN-2013

The Cabinet Committee on Economic Affairs on 21 June 2013 approved disinvestment of 5 percent equity of Neyveli Lignite Corporation (NLC).

CCEA approved Mechanism for Coal Supply to Power Producers

Published on: 23-JUN-2013

The Cabinet Committee on Economic Affairs (CCEA) on 21 June 2013 approved mechanism for coal supply to Power Producers.

Government planned to introduce Visa-on-Arrival Facilities for Chinese Nationals

Published on: 23-JUN-2013

The Union Government of India on 22 June 2013 planned to introduce Visa-on-Arrival facilities for the Chinese nationals.

Duty Drawback Rate on Gold Ornaments hiked by Government to increase Jewellery Exports

Published on: 22-JUN-2013

Duty Drawback Rate of gold ornaments increased by 73 rupees per gram to 173.70 rupees per gram to boost jewellery exports.

SEBI issued Guidelines for Investment Advisers to Operate in Stock Markets

Published on: 21-JUN-2013

SEBI notified guidelines for investment advisers. It made it compulsory to get requisite certifications for them to operate in stock market for them.

Global Prices of Fish Increased to Record High in May 2013

Published on: 21-JUN-2013

UN’s Food & Agriculture Organization announced that the global prices of fish reached record high in May 2013 because of rising demand.

Indian Money in Swiss Banks Dropped to Record Low: Swiss National Bank

Published on: 21-JUN-2013

Swiss National Bank (SNB) in Zurich on 20 June 2013 unveiled that the Indian money in Swiss banks dropped to record low at 9000 crore Rupees.

Commodities Transaction Tax Applicable on Non-Farm Products from 1 July 2013

Published on: 21-JUN-2013

CBDT on 19 June 2013 announced that the Commodities Transaction Tax shall be levied on the non-farm products from 1 July 2013.

Union Government of India proposed plan to raise FDI Limit in Key Sectors

Published on: 19-JUN-2013

Government proposed sweeping changes in FDI regime to attract foreign investors based on the recommendations made by Arvind Mayaram Committee.

RBI left its Repo Rate unchanged at 7.25 Percent

Published on: 18-JUN-2013

RBI in its June mid-quarter monetary policy on 17 June 2013, left its key policy ( repo rate) unchanged at 7.25 percent

Telecom Regulatory Authority of India (TRAI) reduced Roaming charges for calls,SMSs

Published on: 17-JUN-2013

Telecom regulator TRAI on 17 June 2013 announced reduction in the national mobile phone roaming charges which will come into effect 1 July 2013.

Petrol Prices hiked by 2 Rupees per Liter, excluding VAT

Published on: 17-JUN-2013

Price of petrol went up by 2 rupees in India due to devaluation of rupee. Due to devaluation, the import cost of crude oil has gone costlier for oil firms.

WPI Inflation declined to 4.7 Percent in May 2013

Published on: 15-JUN-2013

WPI inflation in May 2013 came down to 4.7 percent against 4.89 percent measured in April 2013.

SEBI notified Norms for Listing of Preference Shares

Published on: 15-JUN-2013

Market regulator Sebi in Month of June 2013 notified a new set of regulations to regulate issuing and listing of non-convertible preference.

Tax Scrutiny of Multinational Companies to Increase in India

Published on: 14-JUN-2013

The (I-T) department has notified a revised form to check for transfer pricing infractions, something that could intensify the scrutiny on their books.

Mineral Production during April 2013: Provisional Data Released

Published on: 14-JUN-2013

The index of mineral production of mining sector in April 2013 was lower by 16.9 percent compared to March 2013

Industrial Production Growth declined to 2 Percent in April 2013

Published on: 13-JUN-2013

Industrial production growth declined to 2 per cent in April 2013 due to dismal performance of various sectors.

Retail Inflation stood at 9.31 Percent in May 2013

Published on: 13-JUN-2013

As per the data released on 12 June 2013, Retail inflation stood at 9.31 per cent in May 2013

Foreign Investment Limit hiked by 5 Billion Dollar in Government Securities

Published on: 13-JUN-2013

The limit of Foreign Investment in Government Securities was enhanced by 5 Billion US Dollar to increase overseas capital inflows on 12 June 2013.

RBI hiked the Cap for Online Repatriation of Export Proceeds

Published on: 12-JUN-2013

The cap on online repatriation of export proceeds was raised by to 10000 US dollars by RBI to arrest the slide in the value of rupee and boost Forex inflows.

FEEs from Tourism increased by over 9 percent in May 2013

Published on: 11-JUN-2013

FEEs for May 2013 increased by more than 9 percent and the FTAs went up by 3.2 percent in the same period.

RBI penalised Axis Bank, HDFC Bank and ICICI Bank for rule violations

Published on: 11-JUN-2013

RBI imposed a fine on Axis Bank, HDFC Bank and  ICICI Bank for violation of KYC norms and anti-money laundering guidelines.

Cost inflation index for 2013-14 raised by 10%: CBDT

Published on: 10-JUN-2013

The Central Board of Direct Taxes (CBDT) in month of June 2013has specified a value for the cost inflation index for 2013-14.

Rupee touched New Life time low against Dollar at 57 Rupees 77 Paise

Published on: 10-JUN-2013

The rupee fell by a whopping 71 paise to hit a new life-time low of 57 rupees 77 paise against Dollar

CBDT revised Selection Criteria for Income Tax Officials

Published on: 10-JUN-2013

The Ministry of Finance in June 2013 has introduced new rules for sending Income Tax officers to newly created overseas units similar to in the US and the UK.

RBI directed banks to Periodically Audit Documents of Credits of 5 Crore and Above

Published on: 08-JUN-2013

RBI on 7 June 2013 directed the banks to audit and verify the documents of all credits of 5 crore and above periodically to prevent frauds.

RBI put restrictions on Co-Operative banks for Loans against Gold coins

Published on: 07-JUN-2013

Reserve Bank of India on 7 June 2013 extended the restriction on advance against gold on co-operative banks set to curb the demand for gold.

Finance Ministry asked Indian Bank Association to set up Oversight Mechanism

Published on: 07-JUN-2013

The Finance ministry asked the Indian Banks' Association to set up an independent body to manage the corporate debt restructuring (CDR) mechanism.

Department of Telecommunication (DoT) asked TRAI to Audit Spectrum Use

Published on: 07-JUN-2013

DoT  asked Trai to carry out regular spectrum utilization audit of all service providers in order to ensure efficient utilization of spectrum.

The Import Duty on Gold and Platinum hiked from 6 to 8 Percent

Published on: 06-JUN-2013

The government hiked the import duty on Gold and Platinum from 6 to 8 per cent on 5 June 2013.

Government hiked the Import duty on Gold and Platinum

Published on: 06-JUN-2013

Import duty on gold was hiked from 6 percent to 8 percent by the Government of India with an aim of curbing the import of gold in the country.

CCEA approved Revival of Nagaland Pulp and Paper Company Limited

Published on: 05-JUN-2013

CCEA on 4 June 2013 approved the revival of the Nagaland Pulp and Paper Company Limited (NPPC) with the infusion of funds of 309.38 crore Rupees.

The Union Cabinet of India approved the Real Estate Bill 2013

Published on: 05-JUN-2013

The Union Cabinet of India on 4 June 2013 approved the Real Estate (Regulation and Development) Bill 2013

India's Foodgrain Production registered a Growth of 30 Percent

Published on: 04-JUN-2013

India's foodgrain production registered an impressive growth of over 30 percent in the last nine years.

India to Dominate Global Saving and Investment Along With China: World Bank Report

Published on: 04-JUN-2013

The World Bank report released on 3 June 2013 forecasted that India and China will become largest investors of the world in the year 2030.

RBI extended Time for opening up of New Banks by Six Months

Published on: 04-JUN-2013

The RBI (Reserve Bank of India) on 3 June 2013 increased the validity period of setting up of banks from one year to 18 months.

Government raised the Import Tariff Value of Gold to 459 Dollars per 10 Grams

Published on: 03-JUN-2013

The Union government of India increased the import tariff value of gold to 459 dollars per 10 grams

India witnessed a Five-Fold Increase in Power Generation

Published on: 03-JUN-2013

India witnessed a five-fold increase in the additional power generation capacity during the last nine years

Foreign Investment Promotion Board Approved Eight FDI Proposals

Published on: 01-JUN-2013

The FIPB on 31 May 2013 approved eight FDI proposals, which include those of McKinsey & Company, ACME Solar Energy and GETIT Infoservices.

OECD scaled down India's Growth Rate at 5.3 Percent

Published on: 31-MAY-2013

OECD on 29 May 2013 scaled down India’s growth estimate to 5.3 per cent for 2013 from 5.9 per cent.

CSO:Economic Growth declined to a low of 5 Percent for the 2012-13 Fiscal

Published on: 31-MAY-2013

As per CSO DATA released on 31 May 2013, economic growth fell to a decade's low of 5 per cent for the entire 2012-13 fiscal

SEBI made Registration Compulsory for Investment Advisors

Published on: 30-MAY-2013

SEBI made it compulsory for investment advisorsto first obtain a certificate of registration for the same.

Quarterly Report (Jan-Mar 2013) on Public Debt Management Released

Published on: 28-MAY-2013

Quarterly Report on Public Debt Management for the Quarter –January-March 2013 was released on 28 May 2013.

RBI imposed Restrictions on Bank Loans against Gold

Published on: 28-MAY-2013

The Reserve Bank of India on 27 May 2013 imposed restrictions on banks and NBFCs for providing loans against gold coins

Union Cabinet of India Approved the Creating 20751 Additional Posts in Income Tax Department

Published on: 24-MAY-2013

The Union Cabinet of India on 23 May 2013 approved the proposal for creating 20751 additional posts in the Income Tax Department in various cadres.

Indian Rupee touched New 6-Month Low at 55.83 against US Dollar

Published on: 23-MAY-2013

The Indian rupee on 23 May 2013 declined by 37 paise to trade at a fresh six-month low of 55.83

Union Government proposed Stronger Powers to SEBI for tackling Ponzi Schemes

Published on: 20-MAY-2013

The Union Government has proposed Stronger Powers to SEBI enabling it to carry out search and seizure operations and for attachment of assets.

Demand for Gold in India Increased by 27 Percent during Jan-Mar 2013

Published on: 20-MAY-2013

Demand for gold in India increased by 27 per cent to 256.5 tonnes during the January-March 2013 quarter

Civil Aviation Ministry directed Airlines to Limit Number of Privileged Seats

Published on: 20-MAY-2013

Aviation Ministry directed airlines to limit number of privileged seats for which fees can be charged and extended time to decrease number of foreign pilots.

Government cut Import Tariff Value of Gold and Silver

Published on: 18-MAY-2013

The government cut the import tariff value of gold and silver to 466 US dollars per ten grams

CCEA approved the Same Scale of Allocation to APL Families

Published on: 18-MAY-2013

CCEA on 16 May 2013 approved the continuation of the same scale of allocation to APL families during 2013-14

Union Govt ratified 8.5 Percent interest on PF Deposits for 2012-13

Published on: 16-MAY-2013

Finance Ministry approved payment of 8.5 per cent interest rate for 2012-13 from 8.25 per cent in the previous fiscal.

International Monetary Fund (IMF) approved 1.3 bn Dollars loan for Cyprus

Published on: 16-MAY-2013

IMF on 15 May 2013 approved a three-year, 1.3 billion dollars loan for supporting Cyprus’ attempts to stabilize its financial sector.

RBI decided to Launch Inflation Indexed Bonds (IIBs)

Published on: 16-MAY-2013

The RBI (Reserve Bank of India) on 15 May 2013 decided to launch Inflation Indexed Bonds (IIBs).

Union Government hiked Backward Region Grant Fund Entitlement for Uttar Pradesh

Published on: 16-MAY-2013

Backward Region Grant Fund was increased to 818.17 crore rupees for 2013-14 from 667 crore rupees for Utatr Pradesh by Union Government.

Reserve Bank of India directed Banks to follow Clean Note Policy

Published on: 15-MAY-2013

RBI directed banks to follow Clean Note Policy and not to stable the notes packet. It also directed the banks to withdraw soiled notes from circulation.

WPI Inflation eased to 4.89 percent in April 2013 as Per Official Data

Published on: 14-MAY-2013

As per official data released on 14 May 2013, WPI Inflation eased to 4.89 percent in April 2013.

Exports in India grew up by 1.6 percent in April 2013

Published on: 14-MAY-2013

The exports in the month of April 2013 of India grew by 1.6 percent and stood at 24.16 billion US Dollar. Trade deficit pushed to 1.7 billion US dollar.

Total Value of Mineral Production During March 2013 was 20475 Crore Rupees

Published on: 14-MAY-2013

The total value of mineral production (excluding atomic & minor minerals) in the country during March 2013 was 20475 crore rupees.

Reserve Bank of India imposed Restrictions on Gold Import by Banks

Published on: 14-MAY-2013

The RBI on 12 May 2013 imposed restrictions on gold import by banks in order to moderate the demand of gold for domestic use.

National Stock Exchange(NSE) launched Debt Trading Platform

Published on: 13-MAY-2013

National Stock Exchange, the Leading bourse on 11 May 2013 launched the country’s first dedicated debt trading platform.

Retail Inflation declined to 9.39 Percent in April 2013

Published on: 13-MAY-2013

Retail inflation declined to 9.39 per cent in April because of reduction in prices of vegetables, edible oil and protein-based items

Inter-Ministerial Group approved 10% Equity Sale in Coal India Limited

Published on: 11-MAY-2013

Sale of 10 percent equity of the Coal India Limited was approved by the Inter-Ministerial Group headed by Ravi Mathur, the Disinvestment Secretary.

Air India declared Transformation by Implementation of Cost Cutting Measures

Published on: 10-MAY-2013

Air India is set to implement transformation programmes by implementing cost cutting measures suggested by the five member committee.

CCEA approved Proposal to set-up 2 Major Ports in Bengal and Andhra Pradesh

Published on: 10-MAY-2013

Proposal from Ministry of Shipping to set-up two ports in Andhra Pradesh and West Bengal were approved by CCEA on 9 May 2013.

India is the largest Producer and Consumer of Chickpeas in World

Published on: 09-MAY-2013

FAO in its latest report for 2011 reported that India is the largest producer and consumer of Chickpeas in the world.

Union Government set 325-billion Dollars Export Target for 2013-14

Published on: 09-MAY-2013

Union Government announced an export target of 325 billion dollars for the current financial year 2013-14 to support the slowdown in the global markets.

Foreign Exchange Earnings from Tourism grew by 7 percent in April 2013

Published on: 08-MAY-2013

FEEs from Tourism Increases by More than Seven Percent in April 2013. FTAs went up by About Two Percent during the First Quarter Of 2013.

SEBI approved Kerala's Start-up Village Angel Fund of 10 million Dollars

Published on: 07-MAY-2013

SEBI in May 2013 had approved an angel fund of 10 million Dollars to address the problem of resource crisis for start-up companies across the country.

India's Services Growth hit 18-month low: HSBC

Published on: 06-MAY-2013

As per the survey undertake by HSBC,  India’s services sector grew at its slowest pace in one and half years during the month of  April 2013.

Asian Development Bank to provide 6 billion Dollars to India over next 3 years

Published on: 06-MAY-2013

ADB on 5 May 2013 announced that it is going to provide about 6 billion dollars loan to India over the next three years.

Foodgrains Output for 2013 Exceeded its Target

Published on: 04-MAY-2013

Foodgrains output for 2012-13 was revised by the Government of India by 5.22 million tonnes for wheat, rice and coarse cereals.

CCEA approved Exchange Trade Fund for PSU stocks

Published on: 03-MAY-2013

CCEA on 2 May 2013 cleared the government proposal to set up an exchange traded fund backed by a basket of PSU stocks, commonly referred as CPSEETF.

RBI reduced the Repo Rate by 25 Basis Points to 7.25 Percent

Published on: 03-MAY-2013

RBI on 3 May 2013 reduced the policy repo rate by 25 basis points to 7.25 per cent

Supreme Court of India upheld 51 Percent FDI in Multi-brand Retail

Published on: 02-MAY-2013

The Supreme Court of India on 1 May 2013 upheld the constitutional validity of 51 percent FDI in the multi-brand retail sector.

Bombay Stock Exchange (BSE) launched broad-based Islamic Equity Index

Published on: 01-MAY-2013

The Bombay Stock Exchange (BSE) on 30 April 2013 launched an Islamic equity index

The Union Minister for Commerce, Industry and Textiles Launched 21 New Textile Parks

Published on: 24-APR-2013

The Union Minister for Commerce, Industry and Textiles, Anand Sharma on 23 April 2013, launched 21 New Textile Parks approved under SITP.

PMEAC Presented Economic Review 2012-13: Highlights

Published on: 23-APR-2013

The Prime Minister’s Economic Advisory Council (PMEAC) under the Chairmanship of C Rangarajan on 23 April 2013 presented the Economic review 2012-13.

Competition Commission of India slapped fine of 8000 Crore rupees in 19 Cases

Published on: 23-APR-2013

Competition Commission of India (CCI) penalised 19 business entities for anti-competitive practices collectively for around 8000 crore Rupees.

Union Government of India approved 13 Power Projects and 25 Oil & Gas Blocks

Published on: 23-APR-2013

CCI approved 13 power projects that include hydro, thermal & transmission projects. Investment of 33000 crore rupees will be made on these projects.

Government permitted Railways to use its Land for Metro Networks

Published on: 20-APR-2013

 Union Cabinet of India gave its approval to the proposal of the Indian Railways for permitting use of its land for metro networks.

Union Government approved 1083 crore Rupees Revival Plan for HMT

Published on: 20-APR-2013

The Cabinet Committee on Economic Affairs (CCEA) on 18 April 2013 approved a 1083-crore Rupees renewal package for watch and tractor maker company HMT.

Government has implemented Changes in FTP 2009-14 to Enhance Trade and SEZs

Published on: 19-APR-2013

The Union Commerce Ministry has announced changes in different policies and schemes under Annual Supplement 2013-14 of FTP 2009-14.

To Revive Interest in SEZs of Investors Government announced Changes in FTP

Published on: 19-APR-2013

To revive interests of investors in SEZs the Union Government of India announced some revisions in annual supplement of FTP 2009-14.

India’s Exports in March 2013 were valued at 30849.65 Million Dollars

Published on: 18-APR-2013

India’s Exports during March 2013 were valued at 30849.65 million US dollars (167836.31 crore rupees)

IMF slashed Economic Growth Rate of India to 5.7 percent from 5.9 percent for 2013

Published on: 17-APR-2013

IMF in its latest release of WEO slashed India’s growth rate to 5.7 percent from 5.9 percent on 16 April 2013.

Reserve Bank of India to Start Plastic Money Project on Trial Basis

Published on: 17-APR-2013

RBI decided to launch Plastic notes in the denomination of 10 Rupees in five selected cities of India on trial basis.

Prices of Commodities Decreased Considerably; Gold Prices Decreased to 15-Month Low

Published on: 16-APR-2013

The prices of wide range of commodities decreased considerably in the second week of April 2013. Gold fell to 15-month low at 26500 Rupees per 10 gm.

NEEPCO granted Miniratna–Category–1 Status by the Union Government of India

Published on: 12-APR-2013

NEEPCO was conferred with the Miniratna – Category – 1 status by the President of India, Pranab Mukherjee on 8 April 2013.

Retail Inflation declined to 10.39 Percent in March 2013

Published on: 12-APR-2013

As per a Government data released, retail inflation of the country declined to 10.39 % in March. This is the first decline over a period of five months.

WTO Slashed Trade Growth Forecast for 2013 to 3.3 Percent

Published on: 11-APR-2013

The World Trade Growth Forecast was slashed to 3.3 percent by World Trade Organization. It asked to strengthen multilateral trade system.

Annual Auto Sales in India Dropped 6.7 Percent; First Time in 10 Years: SIAM

Published on: 11-APR-2013

The annual sales of car in India dropped down to 6.7 percent from 2012, lowest in 10 years, according to SIAM.

Food Corporation of India (FCI) Raised 5000 Crore Rupees by Issuing Taxable Bonds

Published on: 11-APR-2013

The Food Corporation of India (FCI) raised 5000 crore Rupees by issuing taxable bonds backed by Government of India Guarantee.

Indian Railways Carried 1009.73 Million Tonnes of Freight during Fiscal 2012-13

Published on: 10-APR-2013

Indian Railways carried 1009.73 million tonnes of revenue earning freight traffic during the financial year 2012-13 as per the data released by Ministry of Railways.

India Trade Promotion Organisation Signed a MoU with Government of India

Published on: 09-APR-2013

India Trade Promotion Organisation (ITPO) signed a Memorandum of Understanding (MoU) with Government of India for the year 2013-14 on 20 March 2013.

National Workshop on Grid Integration Inaugurated

Published on: 09-APR-2013

The Minister for New & Renewable Energy inaugurated the National Workshop on Grid Integration of Renewable Energy Sources and Energy Efficiency on 8 April 2013.

Foreign Tourist Arrivals in India Increased by About Three Percent

Published on: 08-APR-2013

Foreign Tourist Arrivals (FTAs) showed a growth of 2.8 percent in March 2013 over March 2012.

Two-Day International Workshop on Green National Accounting for India Concluded

Published on: 08-APR-2013

Two-day International Workshop on Green National Accounting for India finished in New Delhi on 6 April 2013.

Union Government of India Sanctioned 4065.81 Crore Rupees for Water Pollution Control

Published on: 06-APR-2013

For exercising pollution abatement schemes of rivers and lakes in different states, the Union Government of India sanctioned 4065.81 crore rupees.

Union Government achieved FY13 Revised Tax Collection Target

Published on: 05-APR-2013

Union government in the Month of March 2013 announced that it has met its revised tax collection target for 2012-13.

Cabinet Committee on Economic Affairs approved de-control of Sugar

Published on: 05-APR-2013

CCEA decided to de-control sugar by doing away the levy-sugar mechanism on it. Govt. decision also dismantled the regulated release mechanism.

CCEA approved Four Laning of Jorhat to Demow section of NH-37 in Assam

Published on: 04-APR-2013

The Cabinet Committee on Economic Affairs gave its approval for the four laning of the Jorhat-Demow section of National Highway-37 in the state of Assam.

CCEA approved Special Infrastructure Scheme in LWE affected States

Published on: 04-APR-2013

The Cabinet Committee on Economic Affairs(CCEA) on 2 April 2013 approved the proposal of the Ministry of Home Affairs for continuation of the Scheme for Special Infrastructure (SIS)

Core Sector Growth Slumped by 2.5 Percent in February 2013

Published on: 01-APR-2013

The production of eight core sector industries decreased by 2.5 percent in the month of February 2013, for the first time in 2012-13 financial year.

IRDA Introduced Credit Rating Norm for Selecting Foreign Reinsurers

Published on: 30-MAR-2013

The Insurance Regulatory and Development Authority (IRDA) in the month of March 2013 have made the norms stricter for reinsurers.

India’s International Financial Liabilities increased by 10.5 billion Dollar

Published on: 30-MAR-2013

India’s international financial liabilities increased by 10.5 billion Dollars to 723.9 billion Dollars as at end- of December 2012 as per the Report.

Growth-Oriented MoU Signed Between SPMCIL and Department of Economic Affairs

Published on: 26-MAR-2013

SPMCIL signed the growth-oriented MoU with the Department of Economic Affairs (DEA), Ministry of Finance on 25 March 2013.

Commercial Production of Aishwarya Oil Field in Rajasthan Started

Published on: 24-MAR-2013

Commercial production of oil and gas started at Aishwarya Oil Field in Barmer, Rajasthan. It was inaugrated by Veerappa Moily and Ashok Gehlot.

Cabinet Committee on Investment (CCI) approves Five Oil, Gas Blocks Operations

Published on: 22-MAR-2013

RBI Cuts Repo Rate by 25 Base Points while keeping CRR Unchanged

Published on: 20-MAR-2013

The Reserve Bank of India (RBI) on 19 March 2013 cut the repo rate by 25 basis points to 7.5 per cent from 7.75 percent in its mid-quarter review of the monetary policy.

HPCL and Government of Rajasthan Signed a MoU for Setting up Refinery

Published on: 15-MAR-2013

HPCL and the Government of Rajasthan on 14 March 2013 signed MOU at Jaipur for setting up a refinery-cum-petrochemical complex in Barmer, Rajasthan.

Economic Survey of India 2012-13: Human Development

Published on: 14-MAR-2013

Union Finance Minister P. Chidambaram on 27 February presented the Economic Survey 2012-13 in the Lok Sabha of the Parliament.

Economic Survey of India 2012-13: Industry and Services Sector

Published on: 14-MAR-2013

Growth of value added in industrial sector, comprising manufacturing, mining, electricity and construction sectors, slowed to 3.1 percent in 2012-13.

Economic Survey 2012-13: International Trade, India and Global Economy

Published on: 14-MAR-2013

The decrease in world growth and trade in 2012 reflected a weak and slow recovery for world trade in the economic survey 2012-13.

Economic Survey 2012-13: Energy, Infrastructure and Communications

Published on: 14-MAR-2013

The 12th 5-Year Plan laid special emphasis on development of the infrastructure sector including energy. 56.3 lakh crore was invested in infrastructure sector.

Economic Survey of India 2012-13: Agriculture and Food, Sustainable Development and Climate

Published on: 14-MAR-2013

Union Finance Minister P. Chidambaram on 27 February 2013 presented the Economic Survey 2012-13 in the Lok Sabha of the Parliament.

Union Government granted an aid of 41 Crore Rupees to protect Pashmina Goats

Published on: 13-MAR-2013

The Union Government on 12 March 2013 decided to provide a financial assistance of 41.21 crore rupees to protect Pashmina goat which produces world-famous fine luxury fibre...

Coal India signed Fuel Supply Pacts with 56 Power Plants

Published on: 13-MAR-2013

The Union government on 12 March 2013 informed that state-run Coal India Ltd. (CIL) signed fuel supply pacts with 56 power plants so far.

Union Government to launch 10 Rupees Plastic Notes in 5 Cities

Published on: 12-MAR-2013

The Union Government and RBI on 12 March 2013 decided to introduce one billion pieces of 10 Rupees bank notes made of plastic on a field trial basis in five cities.

World Bank estimated a growth of over 6 percent for the Indian Economy during 2013-14

Published on: 11-MAR-2013

The World Bank in the month of March 2013 forecasted that the Indian economy is estimated to grow over 6 per cent during 2013-14.

Indian Financial Regulators signed pact to Monitor Conglomerates

Published on: 10-MAR-2013

The country's top four financial regulators on 8 March 2013 signed an agreement among each other for co-operation on consolidated supervision and monitoring of financial groups..

The Union Government of India approved Export of Additional 5 Million Tonnes of Wheat

Published on: 08-MAR-2013

The GoM approved export of additional 5 million tonnes of wheat from FCI. Private Exporters are only permitted to export the additional quantity of Wheat.

Union Budget 2013-14: Allocations of Funds to Infrastructure and Energy Sector

Published on: 05-MAR-2013

The Union Finance Minister announced different proposals for Infrastructure and Energy Sector in India while tabling the Union Budget 2013-14 in the Lok Sabha on 28 February 2013. The proposals as announced by the Union Finance Minister are as follows:

Union Budget 2013-14: Allocation of Funds to the Defence Sector

Published on: 05-MAR-2013

In the Union Budget 2013-14, which was tabled in the Lok Sabha on 28 February 2013 by the Union Finance Minister P. Chidambaram, there is a hike of 14% on Defence Budget over the last year 2012-13, thus promising more funds required for national security...

Union Budget 2013-14: Tax Proposals at a Glance

Published on: 02-MAR-2013

The Union Finance Minister announced tax proposals while tabling the Union Budget 2013-14 in the Lok Sabha on 28 February 2013.

Union Budget 2013-14: Allocation of Funds to the Social Sector

Published on: 02-MAR-2013

In the Union Budget 2013-14, Finance Minister P. Chidambaram made announcements for the social sector, with focus primarily on women, poor and youth.

Union Budget 2013-14: Allocation of Funds to Industrial Sector

Published on: 02-MAR-2013

In the Union Budget 2013-14, the Union Finance Minister, P. Chidambaram announced plans and proposals for the industrial sector.

MOU signed for Setting up of Memu Coaches Manufacturing Facility at Bhilwara

Published on: 01-MAR-2013

MoU was signed on 25 February 2013 between Indian Railways and Bharat Heavy Electricals Ltd (BHEL) for setting up of Greenfield MEMU coaches manufacturing facility at Bhilwara in Rajasthan.

Union Budget 2013-14: Allocation to Rural Development, Agriculture and Food Security

Published on: 01-MAR-2013

The Union Budget 2013-14 which was tabled by the Union Finance Minister P. Chidambaram on 28 February 2013 allocated 27049 crore Rupees to Agriculture.

Union Budget 2013-2014: New Plans and Schemes Introduced and Proposed

Published on: 01-MAR-2013

Various new plans and schemes were introduced by the Union Finance Minister P Chidambaram on 28 February 2013 in the Budget 2013-14.

Union Budget 2013-14: List of Commodities on which Taxes Increased or Decreased

Published on: 01-MAR-2013

Union Finance Minister P Chidambaram on 28 February 2013 tabled the Union budget in the Lok Sabha of Parliament for the financial year 2013-14.

Railway Budget 2013-14: New Plans and Schemes

Published on: 28-FEB-2013

Union Railway Minister Pawan Kumar Bansal presented the Union Railway Budget for 2013-14 in Lok Sabha on 26 February 2013. Some of the New Plans and Schemes proposed in Railway Budget 2013-14 are as under..

Railway budget 2013-14: New Initiatives

Published on: 28-FEB-2013

Union Railway Minister Pawan Kumar Bansal presented the Union Railway Budget for 2013-14 in Lok Sabha on 26 February 2013.Some of the major Initiative proposed in Railway Budget 2013-14 are as under..

Union Budget 2013-14 presented by P. Chidambaram in Lok Sabha: Highlights

Published on: 28-FEB-2013

Union Finance Minister P Chidambaram on 28 February 2013 tabled the Union budget in the Parliament for the financial year 2013-14...

Railway Budget 2013-14: 67 New Express Trains Announced

Published on: 27-FEB-2013

Railway Minister Pawan Kumar Bansal on 27 February 2013 proposed the introduction of 67 new express trains and 26 new passenger trains. He also asserted the introduction of 22 new lines in 2013-14.

Economic Survey of India 2012-13: Highlights

Published on: 27-FEB-2013

Union Finance Minister P. Chidambaram on 27 February 2013 presented the Economic Survey 2012-13 in the Lok Sabha of the Parliament.

Railway Budget 2013-14 Presented in Lok Sabha : Highlights

Published on: 26-FEB-2013

Union Railway Minister Pawan Kumar Bansal presented the Union Railway Budget for 2013-14 in Parliament on 26 February 2013.

RBI announced Guidelines for Licensing of New Banks in Private Sector

Published on: 23-FEB-2013

Guidelines for Licensing of New Banks in the Private Sector was released by Reserve Bank of India on 22 February 2013.

Akhilesh Yadav, Chief Minister of Uttar Pradesh Presented Budget for Fiscal Year 2013-14

Published on: 23-FEB-2013

Budget 2013-14 was presented in the Vidhan Sabha on 19 February 2013 by the Chief Minister of Uttar Pradesh, Akhilesh Yadav.

The Union Government Cancelled Bond Auction Worth 12000 Crore Rupees

Published on: 20-FEB-2013

The Union Government of India on 18 February 2013 cancelled the bond auctions worth 12000 crore Rupees.

Inflation goes Down to Three Years Low to 6.62 percent in January 2013

Published on: 15-FEB-2013

Data released by the Commerce and Industry Ministry reported that Inflation went down to its three year low of 6.62 percent in January 2013.

SEBI ordered freezing of accounts and attachment of properties of two companies of Sahara

Published on: 14-FEB-2013

Seizure of Bank Accounts of two companies of Sahara and attachment of its properties ordered by SEBI, the market regulator on 13 February 2013.

Exports of India Increased By 0.8 Per Cent in January 2013

Published on: 14-FEB-2013

The exports of India increased by 0.8 percent in the month of January 2013 to 25.58 billion US dollars.

India's Trade Deficit for April - January, 2012-13 was estimated at 167168.12 Million US Dollars

Published on: 13-FEB-2013

India's Trade Deficit for April - January, 2012-13 was estimated at 167168.12 Million US Dollars

Comfort Letter issued by Finance Ministry for sanction of 25000 crore Subsidy

Published on: 12-FEB-2013

Government of India decided to pay the additional cash subsidy of 25000 crore rupees to the state owned fuel retailers in second week of Feb 2013.

Railway Revenue Earnings increased by 20.38 Per Cent During April 2012-January 2013

Published on: 10-FEB-2013

The total approximate earnings of Indian Railways on originating basis during 1 April 2012 to 31 January 2013 were 101223.95 crore rupees

TRAI:Teledensity declined by 25.97 Million to 895.51 Million in December 2012

Published on: 10-FEB-2013

Telecom Regulatory Authority of India(TRAI) stated that total wireless subscriber base decreased from 890.60 million in Nov 2012 to 864.72 million in Dec 2012

CCEA approved increase of MSP of Copra for 2013 season by 150 Rupees per Quintal

Published on: 08-FEB-2013

CCEA revised the MSP of Milling and Ball Copra for 2013 and increased it by 150 rupees per quintal from the previous year’s MSP.

Economic Growth of India Estimated to Fall To 5 Percent in 2012-2013 FY

Published on: 08-FEB-2013

The economic growth of India is estimated to fall to 5 percent in 2012-2013 financial year, which is a lowest figure in 10 years.

Authorized Capital of NABARD raised from 5000 crore rupees to 20000 crore rupees

Published on: 08-FEB-2013

The Union Cabinet of India gave its nod the raise the authorized capital of NABARD aiming towards for enlargement of its operations and activities.

Net Direct Tax Collection Grew 12 Percent in April-January in FY 2012-2013

Published on: 07-FEB-2013

Gross Direct Tax collection from the period of April to January in fiscal year 2012-2013 increased by 7.02 percent.

CCEA gave its nod to Price Pooling Mechanism on Coal to Control Prices of Coal

Published on: 06-FEB-2013

CCEA approved price pooling mechanism of coal on 5 Feb. 2012 and EGoM gave its nod for disinvestment of 9.5 percent stakes of NTPC.

ED Slapped 98.5 Crore Rupees Penalty Notice on Rajasthan Royals

Published on: 05-FEB-2013

The Enforcement Directorate (ED) slapped the IPL team Rajasthan Royals with a penalty notice of around 100 crore Rupees for violating the Forex laws.

BHEL and GAIL Granted Maharatna Status by the Union Government of India

Published on: 02-FEB-2013

The Union Government of India gave the Maharatna status to two PSUs- BHEL and GAIL on 1 February 2013.

Union Ministry for Commerce launched eBiz Portal to Provide one Stop Shop for all Investment

Published on: 29-JAN-2013

The Union Minister for Commerce on 28 January 2013 launched an eBiz portal at the CII Partnership Summit in Agra

Reserve Bank of India slashed Repo Rate to 7.75 Percent and CRR to 4 Percent

Published on: 29-JAN-2013

The Reserve Bank of India on 29 January 2013 slashed its key interest rates by 0.25 per cent and released 18000 crore rupees

Securities and Exchange Board of India revised the Mechanism of Offer for Sale

Published on: 26-JAN-2013

Securities and Exchange Board of India made revisions in the norms of Offer for Sale on 25 January 2013.

Union Commerce Ministry claimed that India has crossed One Billion Mark in Tea Production

Published on: 26-JAN-2013

The figures released in Jan. 2013 from the Union Commerce Ministry states that India has crossed the 1 billion mark of tea production

FDI Inflow Decreased to Two-Year Low in November 2012

Published on: 24-JAN-2013

The inflow of foreign direct investment (FDI) in India decreased to around 2-year low at 1.05 billion US dollar in November 2012.

IMF forecasted Indian Economic Growth Rate to be 5.9 percent in 2013

Published on: 24-JAN-2013

The International Monetary Fund (IMF) on 23 January 2013 projected that the economic growth rate of India in 2013 would be 5.9 percent

Railways decided to undertake a Cleanliness Drive across the Country

Published on: 23-JAN-2013

The Railways on 22 January 2013 decided to undertake a cleanliness drive at about 100 important stations across the country

Union Government of India increased Import Duty on Gold and Platinum by 2 Percent

Published on: 22-JAN-2013

The Government of India has increased the import duty on platinum and gold from 4 percent to 6 percent.

Union Cabinet Approved 50 Percent Reduction in the Reserve Prices for CDMA Spectrum

Published on: 18-JAN-2013

The Union Government on 17 January 2013 approved a 50 per cent reduction in the reserve price of spectrum used by CDMA mobile operators.

Cabinet Committee on Economic Affairs approved the Continuation of JNNURM

Published on: 18-JAN-2013

The Cabinet Committee on Economic Affairs approved the continuation of the Jawaharlal Nehru National Urban Renewal Mission (JNNURM)

MTNL launched its Video Telephony Service in Delhi and Mumbai

Published on: 18-JAN-2013

Government Telecom Service Provider MTNL on 17 January 2013 launched its video telephony service in Delhi and Mumbai

CCEA approved Defreeze in the Tariff Value of Edible Oils as per International Market

Published on: 18-JAN-2013

CCEA gave its approval to defreeze the tariff value of the edible oils as per the international prices prevalent in the International market.

Union Government Approved Open Policy and lifted ban on Export of Processed Food

Published on: 18-JAN-2013

Union Government on 17 January 2013 lifted ban on exports of processed foods and value added agricultural products in order to facilitate uninterrupted supply...

Union Government of India raised the cap on Subsidized LPG Cylinders from 6 to 9

Published on: 17-JAN-2013

Union Government of India hiked the cap on subsidized cylinders from 6 to 9. The decisions will come into effect from 1 April 2013.

Union Government raised LPG Cap to Nine Subsidised Cylinders per Year

Published on: 17-JAN-2013

The Union government on 17 January 2013 hiked the cap on subsidised LPG cylinders from 6 to 9. The move will be effective from April 2013...

Supreme Court of India ended the Tax Exemption of Cookie Man under SSI Notification

Published on: 17-JAN-2013

SC: ordered End of Tax Exemption for the Australian Foods India Private Limited, makers of Cookie Man cookies claimed under SSI Notification.

Union Government Imposed 2.5 Percent Import Duty on Crude Edible Oil

Published on: 17-JAN-2013

Union government on 17 January 2013 imposed a 2.5 per cent import duty on crude edible oil with keeping the duties unchanged on refined cooking oil...

World Bank slashed the Global Growth Forecast to 2.4 Percent

Published on: 17-JAN-2013

World Bank slashed the Global Growth Forecast to 2.4 percent on 15 January 2013. In June 2012 it made a forecast of gaining 3 percent growth.

The Implementation of GAAR deferred by 2 Years, to Come into Force from 1April 2016

Published on: 16-JAN-2013

The implementation of General Anti Avoidance Rules (GAAR) was deferred by two years by the government of India. It will now come into force from 1 April 2016

Krishi Karman Awards for the year 2011-2012 presented by the President of India

Published on: 16-JAN-2013

Pranab Mukherjee presented the Krishi Karman Awards - 2011-2012 to the best performing states with increased food grain production at Ratrapati Bhawan.

Sensex Crossed Crucial 20000 Mark after Two Years

Published on: 16-JAN-2013

The Bombay Stock Exchange Sensex for second time in a row on 15 January 2013 touched 2-years high. The Nifty, on the other hand, increased to 0.54 percent or 32.55 points, ending at 6056.60.