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India, Iran sign MoU to avoid Double Taxation

13 hrs ago
India and Iran have signed 9 agreements to strengthen their cultural ties, boost connectivity and trade and expand cooperation in various sectors including health, medicine, agriculture, traditional systems of medicine and postal cooperation.

PNB’s $1.8 Billion Scam: Explained

Feb 15, 2018
State-owned lender, Punjab National Bank has suspended 10 of its officers and lodged a complaint against celebrity jewellery designer Nirav Modi for committing fraudulent transactions worth over USD 1.77 billion in one of its Mumbai branches.

RBI announces Revised Framework for Resolution of Stressed Assets; withdraws CDR, SDR, S4A and JLF

Feb 13, 2018
Through the new set of rules, the RBI aims at creating a harmonised and simplified generic framework for resolution of bad loans. This will force lenders to identify and tackle any stressed-asset accounts more rapidly.

India Post Payments Bank to enable Digital Payments in Post Offices by April 2018

Feb 10, 2018
IPPB plans to leverage the unparalleled reach of the India Post network to achieve a Pan India roll out of 650 branches by 2018.

CCEA approves enhancement of target under Pradhan Mantri Ujjwala Yojana

Feb 8, 2018
The Cabinet also approved expansion of the Scheme to cover all SC/ST households, beneficiaries of PMAY (Gramin) and Antyoday Anna Yojana (AAY), Forest dwellers, Most Backward Classes (MBC), Tea and Ex-Tea Garden Tribes, people residing in Islands and rivers, SECC identified households, etc.

IBBI amends IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016

Feb 7, 2018
The Resolution Professional shall appoint two registered valuers to determine the fair value and the liquidation value of the corporate debtor. After the receipt of resolution plans, the resolution professional shall provide the fair value and the liquidation value to each member of the committee of creditors in electronic form, on receiving a confidentiality undertaking.

In Detail: Union Budget 2018-19 and Economic Survey

Feb 3, 2018
The Union Finance Minister Arun Jaitley on 1 February 2018 presented the Union Budget 2018 in the parliament. In the independent India, this is the 88th budget and the fifth of the Modi Sarkar.

Key takeaways from Union Budget 2018

Feb 2, 2018
NITI Aayog will establish a National Programme to direct government's efforts in the area of Artificial Intelligence towards national development. The government will also explore use of blockchain technology proactively to boost digital economy. However, the government will not consider cryptocurrency as legal tender.

India joins Ashgabat agreement

Feb 2, 2018
India has joined the Ashgabat agreement which envisages the establishment of an international transport and transit corridor linking Central Asia with the Persian Gulf to significantly ramp up trade and investment.

Union Budget 2018: Fiscal Expenditure & Taxation Reforms

Feb 1, 2018
No changes in personal income tax slabs. Majorly, the personal income tax collection comes from the salaried class. Around 1.89 crore returns were filed in 2017 and Rs 1.44 lakh crore was paid as taxes.

Union Budget 2018: Major Highlights

Feb 1, 2018
This year's budget session is crucial as it comes after government's two big financial decisions - demonetisation and the implementation of Goods and Services Tax. It will be also NDA government's last full budget presentation before next year's Lok Sabha elections.

Union Budget 2018: Infrastructure Sector

Feb 1, 2018
The Union Finance Minister Arun Jaitley on 1 February 2018 presented the Union Budget 2018 in the parliament. In the independent India, this will be the 88th budget and the fifth of the Modi Sarkar. This year's budget session is crucial as it comes after government's two big financial decisions - demonetisation and the implementation of Goods and Services Tax.

Union Budget 2018: Health, MSME and Social Welfare

Feb 1, 2018
National Health Protection Scheme will be launched to cover 10 crore poor and vulnerable families. Under this, up to Rs 5 lakh will be provided to each family per year in secondary and tertiary care institutions. This scheme will have 50 crore beneficiaries. This scheme will generate lakhs of jobs, particularly for women.

Union Budget 2018: Financial Sector

Feb 1, 2018
Emoluments will revised for the President to Rs 5 lakh, Rs 4lakh for Vice-President and Rs 3.5 lakh per month for Governors. Emoluments to MPs will be refixed with effect from April 1, 2018. The law will provide automatic revision of emoluments of MPs after every five years, indexed to inflation.

Union Budget 2018: Education Sector

Feb 1, 2018
the Union Budget 2018 proposes to treat education holistically without segmentation from pre-nursery to Class 12. To improve the quality of teachers and education, the government would be initiating an integrated B.Ed. programme for the teachers.

Union Budget 2018: Agriculture Sector

Feb 1, 2018
Under the Union Budget 2018, the government would be doubling the farmer’s income by 2022 and would be working with the states to ensure that all farmers get a fair price for their produce.

Union Budget 2018: Underprivileged

Feb 1, 2018
Under the underpriviledged sector in Union Budget 2018, the government plans to build houses for all the poor in the country by 2022. To ensure the same, it launched the Pradhan Mantri Awas Yojana in rural and urban areas of the country.

India and ADB sign USD 250 million loan to improve rural connectivity in five states

Jan 31, 2018
This investment program is an addition to the USD 800 million ADB-financed first Rural Connectivity Investment Program in 2012 that added about 9000 kilometres of all-weather rural roads in the same States.

India ranked as 6th wealthiest country in the world: Report

Jan 31, 2018
A report by New World Wealth has ranked India in the sixth position in the list of wealthiest countries. It noted that India was the best-performing wealth market globally in 2017, as its total wealth increased from USD 6,584 billion in 2016 to USD 8,230 billion in 2017, registering a 25 per cent growth.

Union Budget 2018: Everything Explained

Jan 31, 2018
The union budget is an important part of Indian economy and polity. There are some changes in the budget due to its merger with railway budget. We have elaborated the entire constitutional procedure of the budget that how it is formed and presented.

Centre launches GeM 3.0 with enhanced features

Jan 31, 2018
The third version of the Government e-Marketplace, GEM 3.0, envisaged by the Union Government as the National Procurement Portal of India has been launched.

Economic Survey 2017-18: Ease of Doing Business’ Next Frontier-Timely Justice

Jan 30, 2018
The government’s efforts to make business and commerce easy have been widely acknowledged. The next frontier on the ease of doing business is addressing pendency, delays and backlogs in the appellate and judicial arenas. Coordinated action between government and the judiciary-- a kind of horizontal Cooperative Separation of Powers to complement vertical Cooperative Federalism between the central and state governments would address the “Law’s delay” and boost economic activity.

Economic Survey 2017-18: Top 10 facts on Indian Economy

Jan 30, 2018
The new Economic survey of 2017-18 reveals that there has been a 50 per cent increase in unique taxpayers under the GST in comparison with the pre-GST system and also a boost in exports of ready-made garments.

Economic Survey 2017-18: Key Highlights

Jan 30, 2018
The Economic Survey 2017-18 was tabled in the Parliament on January 29, 2018 by Union Finance Minister Arun Jaitley. Major reforms were undertaken in 2017 including the launch of the transformational Goods and Services Tax (GST) in July.

India, ASEAN member states release joint statement ‘Delhi Declaration’

Jan 27, 2018
India hosted the leaders of the ten member states of the Association of Southeast Asian Nations (ASEAN) for two-day ASEAN-India Commemorative Summit that began on January 25, 2018 in New Delhi, under the theme of ‘Shared Values, Common Destiny’.

Small Finance Banks, Payments Banks to offer Atal Pension Yojana

Jan 27, 2018
The Union Government has allowed Small Finance Banks and Payments Banks to offer Atal Pension Yojana (APY). The Small Finance Banks and Payment Banks are new age banks and given the strength, expertise and reach of these banks, they can play a pivotal role in the outreach of subscribers under APY.

India ranked 81st on Global Talent Competitiveness Index

Jan 24, 2018
India has been ranked 81st on the annual global index of talent competitiveness, which was released on the first day of the 48th World Economic Forum (WEF) annual meeting in Davos, Switzerland.

India to surpass China as fastest growing large economy in 2018

Jan 22, 2018
The Sanctum Wealth Management report predicts that India will become the fastest growing large economy in the world in 2018, surpassing even China and the country’s equity market will jump to become the fifth largest in the world.

GST Council cuts rate on 82 goods and services, introduces measures against tax evasion

Jan 20, 2018
The 25th GST Council meeting chaired by Finance Minister Arun Jaitley has recommended rate cuts on 83 items including 53 services and 29 goods and the introduction of ‘anti-evasion measures’ to take care of faltering indirect tax revenue.

Department of Commerce, CII sign MoU for development of Logistics sector

Jan 17, 2018
The Department of Commerce has signed a Memorandum of Understanding (MoU) with the Confederation of Indian Industry (CII) for setting-up of an institutional mechanism for the integrated development of Logistics sector in the country.

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