BUSINESS AWAAZ

Govt projects 6% fall in onion output

AMN Agriculture Ministry yesterday projected six per cent fall in onion output at 197 lakh tonnes this year. The Ministry in the first advance estimates of production of horticulture crops for 2016-17 said, the output is expected to be down due to fall in cropped area. However, the estimated production is 5 per cent higher, … Continue reading Govt projects 6% fall in onion output

GST council clears draft for compensating states for loss of revenue

AMN Goods and Services Tax Governing Council has cleared the draft for compensating states for loss of revenue after GST is implemented. The Council met in Udaipur today to give approval to the GST Draft Law under the chairmanship of Union Finance Minister Arun Jaitley. Finance Ministers of various states attended the meeting. Mr Jaitley … Continue reading GST council clears draft for compensating states for loss of revenue

India’s economic growth to make sharp recovery: RBI Governor

AMN / Reserve Bank Governor Urjit Patel today said India’s economic growth will make a sharp recovery following the recall of old 500 and 1,000 rupee notes. In an interview to CNBC-TV18, Mr Patel made a strong case for continuing with globalisation, even in the face of a potential shift to trade protectionism under US … Continue reading India’s economic growth to make sharp recovery: RBI Governor

9 lakh accounts under income tax scanner for suspicious cash deposits

AMN Nearly 9 lakh accounts which is half of the 18 lakh people under the Income Tax scanner for suspicious bank deposits during the demonetisation period, have been put in the ‘doubtful’ category. The action against them will follow only after the new tax amnesty scheme which ends on 31st of next month. Under ‘Operation … Continue reading 9 lakh accounts under income tax scanner for suspicious cash deposits

Global Investor Summit ‘Momentum Jharkhand’ begins in Ranchi

Our Correspondent / Ranchi A two-day mega event of Global Investor Summit, branded as “Momentum Jharkhand” has begun at Khelgaon in Ranchi today. More than one thousands delegates, including many leading industrialists, both Indian and from other countries, is taking part in the summit. Prime Minister Narendra Modi will address the Submit through viedo-conferencing. A … Continue reading Global Investor Summit ‘Momentum Jharkhand’ begins in Ranchi

Tax collection data till January shows consistent growth

Tax collection figures up to January this year show a consistent trend of healthy growth. The Net Indirect tax grew at the rate of 16.9 percent in January 2017 compared to corresponding month last year. Growth rate in net collections for Customs was 10.1 percent, Central Excise 26.3 percent and Service Tax 9.4 percent upto … Continue reading Tax collection data till January shows consistent growth

I-T App for income tax, PAN soon

The Income Tax department is developing an App that will soon allow assesses to pay taxes or apply for PAN using smartphones. The department is also working on a project to issue Permanent Account Numbers, PAN to assesses within minutes by way of e-KYC authentication using Aadhaar. It will help bring more people under the … Continue reading I-T App for income tax, PAN soon

Cabinet approves merger of SBI with Associate Banks

AMN / The Union cabinet has given green signal to the merger of SBI and its five associate banks. The associate banks which will be merged with SBI are: State Bank of Bikaner & Jaipur , State Bank of Mysore , State Bank of Travancore , State Bank of Patiala and State Bank of Hyderabad. … Continue reading Cabinet approves merger of SBI with Associate Banks

Demonetization had no effect on Indian tourism: Minister

AMN Union Tourism minister Dr Mahesh Sharma today said the Indian tourism industry is resilient and demonetization had no effect on it, but it grew instead.  Speaking on the occasion of releasing Free Preloaded SIM card for E-Visa tourists, he said, the digital economy and e-payments are boosters to tourism industry. The preloaded SIM card … Continue reading Demonetization had no effect on Indian tourism: Minister

Foodgrain production to reach record 272 million tonnes in 2016-17

AMN The total foodgrain production in the country has been pegged at record 272 million tonne. It is higher by 6.94 million tonnes than the previous record production of 265 million tonnes in 2013-14. Agriculture Ministry in its 2nd advance estimates of production of major crops for 2016-17 said that the record is going to … Continue reading Foodgrain production to reach record 272 million tonnes in 2016-17

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NEPAL TRAGEDY: PHOTO FEATURE

[caption id="attachment_30524" align="alignleft" width="482"] The death toll from Saturday's deadly 7.9 magnit ...