The banking sector in India is reeling under Rs 8 lakh crore of non performing assets (NPAs) or bad loans, of which PSU banks alone account for over Rs 6 lakh crore.
Economic affairs secretary S C Garg said that all macroeconomic parameters are performing well.
The government has allowed oil companies to raise diesel price by 50 paise a litre per month; bulk users to be charged market price.
Many of these are group products and don't get tax benefits; compare premiums and products, make sure they fulfil your needs.
The new tax rates will come into effect from January 1, 2019.
Japanese tech investor SoftBank may end up investing around $1 billion in India in 2022, nearly a third of what it did last year, according to people closely tracking its plans. Last year, SoftBank undertook investments of $3.2 billion in 12 deals. In the first five months of CY22, the giant investor has invested $400-500 million in five deals.
A strong performance by sectors including banking raised the profits of Indian companies by 28 per cent in the three months ended March 2022. The rate of growth is, however, lower than the 30 per cent seen in December. Growth in net sales was also lower than what was seen in the December quarter for the sample under consideration.
ICICI Bank's new offer is for those with savings in fixed deposits but no immediate liquidity
Keeping its word to make drugs affordable to consumers, the government on Thursday announced caps on margins on the sale of pharmaceutical products.
'A policy that covers a wider range of diseases will offer greater peace of mind.'
Indian has extended its Unchecked Fares option till September 30. The scheme offers special fares for travel in the economy class on 148 domestic sectors.
While she primed up spending on infrastructure to create jobs and boost economic activity, Sitharaman did not tinker with income tax slabs or tax rates. Her Budget for the fiscal year beginning April 2022 proposed a massive 35 per cent jump in capital expenditure to Rs 7.5 lakh crore, coupled with rationalisation of customs duty, an extension of time for setting up new manufacturing companies and plans for starting a digital currency and tax crypto assets.
Post handing over of Air India to the Tatas, government officials will be free to book their travel with any airline that offers them the best price. And, the Centre will not have a tie up with any carrier, department of investment and public asset management (DIPAM) secretary Tuhin Kanta Pandey said. "The government is not mandating travel by any particular airline, going forward, after handing over Air India because there won't be any state-owned airline," he said. The department of expenditure (DoE) will soon issue instructions to government departments for official travel as this needs to be done before handing over Air India to the new buyer, he said.
For those who've always wanted to drive a BMW in India, the 2 Series is easily the most fun to drive everyday car that money can buy.
A Reuters poll showed only one out of 51 economists had expected a 50 basis points rate cut.
Though household expenses are up, borrowing will be cheaper.
Jet fuel prices are likely to be reduced by Rs 2,000 per kilolitre from December 1 in line with fall in international oil prices.
India's opening stocks of wheat in the central pool are expected to be 19.5-20 million tonnes as on April 1, 2022, the lowest in the last three years, but much higher than the normative level required for maintaining a buffer and strategic reserve, trade and market sources said. In accordance with the buffer and strategic reserve norms, India should have a wheat stock of 7.5 million tonnes in the central pool as on April 1 each year and this year's stocks, though the lowest in the last three years, will still be over 160 per cent more than what is required. On the export front, both government and trade sources are unanimous that this year (FY22) they will be 7-7.25 million tonnes, a record, while in the next financial year, they might touch even 10 million tonnes if the current momentum is maintained.
The rupee depreciation will work in favour of students who are currently studying in the US and plan to secure a job that pays in dollars.
A three-bedroom apartment (1,000 square feet super built-up) in the Mumbai suburb of Bandra (east) can set you back easily by over Rs 4 crore (Rs 40 million). But for just half the amount, or Rs 2 crore ($400,000), you could own a flat in Dubai.
Indian government has extended price caps to 39 more medicines ranging from commonly used diabetes drugs to antibiotics.
The CBI has said the mall belongs to Yadav who has made investment in the project through a company.
Due to the group's presence across multiple businesses, it is in a unique position in the aviation industry to bring the best of talents.
Indian consumers are likely to get respite from rising prices just before the festival season. Some consumer companies, including automakers, have indicated that they are planning to pause price hikes just before demand picks up in August, while keeping a close eye on volatile raw material prices.
The Xi Jinping regime might try to quell internal distress by directing nationalism and militarism against India, warn Ajay Shah and Gautam Bambawale.
It offers luxury saloon car features at a competitively low price.
'Our future is in limbo. The government saved us with Operation Ganga; now, they must save our careers.'
The government on Monday reduced basic customs duty on influenza vaccine and nine other specified life-saving drugs used for treating breast cancer, hepatitis-B, rheumatic arthritis, etc.
Making it clear that relaxations will not be provided to US-based electric vehicles major Tesla unless it participates in manufacturing activities in India, Union Minister Krishan Pal Gurjar on Tuesday said there cannot be a situation where the market is India but jobs are created in China. The minister of state for heavy industries also told the Lok Sabha during Question Hour that the company is yet to apply for schemes as per the government's policy. Last year, the Elon Musk-led company sought a reduction in import duties on electric vehicles (EVs) in India but the Ministry of Heavy Industries asked the firm to start manufacturing its iconic EVs in the country before any tax concessions can be considered.
In a report submitted Monday to Rajya Sabha chairman and Vice President M Venkaiah Naidu, the Parliamentary Standing Committee on Home Affairs also said there was a need for a comprehensive public health law to keep a tab on private hospitals and check black-marketing of medicines.
Smooth engine, plush interiors, great suspension that handle dodgy roads with ease, futuristic design elements that have little by way of competition in the market -- it's all there, says Pavan Lall.
'The deaths of the children in the Gambia would batter India's reputation as the developing world's pharmacy.'
DIAL, the GMR-led consortium modernising Delhi airport, had projected it would get only a Rs 800 crore-Rs 1,000 crore deposit for the entire 45 acre land in the hospitality district, leaving a gap in funding for the modernisation plan. The aviation ministry allowed it make up the shortfall by levying an ADF on passengers. With DIAL managing to persuade bidders for the hospitality district to increase security deposits by close to 50 per cent, the ADF may now be reduced.
SBI is the first major bank to cut its base lending rate this year.
Goyal also said the government has been providing cheaper drugs through Jan Aushadhi stores.
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