NEW DELHI: It is a great relief for telecommunications companies, he Supreme Court Tuesday gave them 10 years of time to clean AGR quotas of around Rs 1.5 million lakh crore to be paid to the Center. A bank headed by Judge Arun Mishra allowed his request to deposit the …
Read More »The production of eight main industries contracts 9.6% in July
NEW DELHI: Hiring for the fifth consecutive month, the departure of eight core infrastructure sectors fell 9.6 percent in July due to the decline mainly in steel production, refinery products and cement. Output from eight basic sectors had expanded 2.6 percent in July 2019, data released by the Ministry of …
Read More »India’s GDP: GDP growth contracted 23.9% in the first quarter from 3.1% in the previous quarter | India Business News
NEW DELHI: India’s gross domestic product (GDP) growth for the first quarter (ended June 30) of the 2020-21 financial year saw the largest quarterly decline of 23.9%, data released by the government on Monday. The sharp contraction in GDP figures is mainly due to the closure of business activity during …
Read More »International flight ban until September 30; flights to and from countries with air bubbles to continue | India Business News
(Representative image) NEW DELHI: The government has extended the scheduled suspension international flights until September 30, 2020. However, scheduled flights travel bubbles india It has started creating with various countries such as the US, UK, Germany and France, and people eligible under government regulations can fly to and from India …
Read More »Mumbai Airport News: Adani Group to Acquire 74% Stake in Mumbai Airport; will take over the upcoming Navi Mumbai airport too | India Business News
NEW DELHI: Paving the way for billionaire group Gautam Adani to acquire a majority stake in Mumbai airport from GVK Group, the two corporations announced on Monday reaching an agreement for Mumbai International Airport Limited (MIAL), as well as the upcoming airport Navi Mumbai. the Adani Group will acquire 74% …
Read More »PM Modi defends the local toy industry and urges people to support desi apps
NEW DELHI: Prime Minister Narendra modi on Sunday he urged startups and entrepreneurs to develop “innovative toys and games, for India and India” to meet domestic demand and increase their share of the global toy business, estimated at Rs 7 lakh crore. He also asked people to support locally developed …
Read More »TI warns banks of a penalty for charging a fee on electronic payments
NEW DELHI: On Sunday, the income tax department attacked banks that electronic transactions or payments through tools like UPI, warning them of criminal action for breaking the law. Last year, the government had introduced a new provision that required all companies with an annual turnover of Rs 50 million or …
Read More »Center unlikely to give ground on GST compensation
NEW DELHI: The government is unlikely to give in to demands to change the goods and services tax (GST) offset formula despite opposition-ruled states requiring the Center to borrow from the market and transfer funds to cover the deficit between real collections and the promised growth of 14%. Senior government …
Read More »The Ministry of Finance advises banks not to charge electronic transactions
Representative image NEW DELHI: The Ministry of Finance of the Union has advised all the banks do not charge any fees on proceedings or payments made through electronic modethe Central Board of Direct Taxes (CBDT) said in a statement Sunday. According to the CBDT, some representations revealed that some banks …
Read More »The government should not run airports and airlines; Hoping to Go Private Air India in 2020: Hardeep Singh Puri
Stock Photo NEW DELHI: Government should not run airports and airlines, minister of civil aviation Hardeep Singh Puri it said on Sunday, adding that it hopes to privatize Air India during 2020. His comments come at a time when the Kerala The government has opposed Union Cabinet approval on August …
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