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India’s Rs 1,00,000 crore e-commerce sector suffers from a serious flaw: its over-reliance on cash payments. As a result, the transformation in the country’s shopping scene is still half-baked. For all the digital boom, Indian online shoppers make between 60% and 65% of their payments through the cash-on-delivery mode, which is even potentially illegal.

09:10:02 on 22 Jan

Read more at Scroll

The International Monetary Fund's (IMF) World Economic Outlook Update released by chief economist Gita Gopinath on Monday said that India's economy is expected to grow by 7.5 per cent in the 2019-20 fiscal year, keeping an upward trajectory as the rest of the world slumps. India will continue to be the world's fastest growing major economy, the report said.

04:55:01 on 22 Jan

Read more at Indian Express

South Korea retained the global crown in the 2019 Bloomberg Innovation Index, though improvements by Germany in research and education brought Europe’s largest economy to near-parity in the annual ranking.

The U.S. moved up to eighth place, a year after cracks in education scores pushed it out of the top 10 for the first time.

03:10:25 on 22 Jan

Eating at a restaurant is no longer an occasional event for the millennials. The popularity of food delivery apps is a testament to this. With their hectic schedules and lifestyles, an increasing number of Indians turn to Swiggy or Zomato for their everyday meals. But are millennials ignoring the latte factor, which refers to unconscious overspending on routine things.

10:59:06 on 22 Jan

Read more at Livemint

Passengers will have to shell out more than Rs 3,000 in the ‘executive class’ and about Rs 1,800 in the ‘chair car’ for travelling in the much-awaited Train-18, according to the tentative fare chart formulated by Indian Railways’ traffic wing. This represents an increase of about 40%-50% when compared to the Shatabdi base fare for the same distance.

10:27:01 on 21 Jan

Read more at The Wire

India is projected to grow at 7.5% in 2019 and 7.7% in 2020, an impressive over one percentage point ahead of China's estimated growth of 6.2 per cent in these two years, the IMF said attributing the pick up to the lower oil prices and a slower pace of monetary tightening. IMF in its January update said India would remain the fastest growing major economies of the world.

07:22:42 on 21 Jan

Read more at NDTV

Kotak Mahindra Bank, the country's fifth-biggest bank by market capitalisation, reported a better-than-expected 22.6 per cent rise in third-quarter net profit on Monday, helped by higher interest income and a write-back of provisions made for mark-to-market losses. Net profit came in at Rs. 1,291 cr for the three months to Dec 31, compared with Rs. 1,053 cr a year earlier.

01:55:35 on 21 Jan

Read more at NDTV

Amid controversies over the independence of various institutions in the country under the present Central government, former RBI Governor Bimal Jalan on Sunday said there should be a decentralised system in terms of implementing policies. Jalan also called for "political reforms" in order to alleviate poverty in the country and to realise economic potentials.

09:55:01 on 20 Jan

Read more at The Quint

Girls just want to have fun; sometimes at least. And what says fun better than a cute mini dress. Whether layered in winter or worn with sandals in summer, it's the ideal pick for all seasons. Nushrat Bharucha stepped out in the city wearing a white mini shirt dress with a long black belt, sunglasses and peep toe boots.

02:25:01 on 19 Jan

Read more at NDTV

Reliance Industries will roll out its online shopping platform to 1.2 million retailers and store-owners in western India, sketching out an ambitious plan to take on and Walmart's Flipkart on its home turf. Ambani intends to take on the world's largest retailers by combining his Jio telecom service, mobile devices and a vast physical retail network.

06:31:52 on 18 Jan

Read more at NDTV

Ahead of the RBI monetary policy review early in February, India Inc on Thursday urged the central bank to cut its interest rate and CRR in order to boost growth. In a meeting here with the new RBI Governor Shaktikanta Das, leading industry chambers also suggested various measures to ease the ongoing liquidity crunch and reduce the high cost of credit.

10:25:02 on 17 Jan

Read more at The Quint

What is the market’s worst nightmare about the outcome of the Lok Sabha elections? A khichdi (hodgepodge) coalition, led by one of the smaller parties, getting a mandate to run the country in an action replay of what we had witnessed in 1996 post the defeat of the Congress? And what do market pundits want the most now?

10:12:02 on 17 Jan

Read more at The Quint

Gold prices on Thursday rose by Rs. 110 per grams to advance the gaining streak for the fourth straight day at the bullion market. The climb in prices came on increased demand from local jewellers, said PTI quoting the All India Sarafa Association. Silver, however, declined by Rs. 300 to Rs. 40,200 per kg on subdued demand from industrial units and coin makers.

09:55:01 on 17 Jan

Read more at NDTV

The National Green Tribunal directed Volkswagen India to deposit a sum of ₹100 crore with the Central Pollution Control Board by Friday. Coming down heavily on the company for not complying with the November order which had directed Volkswagen to deposit the money, the panel also warned of punitive action against the company directors, in case of non-compliance of orders.

12:40:22 on 17 Jan

Read more at The Hindu

Netflix and home-grown rival Hotstar plan to adopt self-regulation guidelines for content streamed on their platforms in India in an effort to prevent potential government censorship. India has film and TV certification bodies that moderate public content but the country's laws currently do not mandate any censorship of content on online streaming platforms.

10:17:30 on 17 Jan

Read more at NDTV

Extending its upward trend for third straight day, gold prices on Wednesday gained by Rs. 65 to trade at Rs. 33,190 per 10 grams at the bullion market. The climb in prices came due to increased demand from jewellers. Silver too followed the trend and surged by Rs. 300 to Rs. 40,500 per kg driven by significant increase in demand from industrial units and coin makers.

07:55:02 on 16 Jan

Read more at NDTV
A Step-By-Step Guide On Budget Preparation

Union Budget is an annual report which contains the government's revenue and expenditure for a particular fiscal year, which runs from April 1 to March 31. It is prepared by the budget division in the Ministry of Finance after consulting with other ministries. The government is scheduled to present an interim Budget on February 1, 2019.

07:11:37 on 16 Jan

Read more at NDTV
Cabinet clears next gen I-T filing system

IT major Infosys has been selected to implement the next generation system for processing income tax return filings, with the Union Cabinet sanctioning an estimated ₹ 4,241.97 crore for the project. The move will help in bringing down the income tax return (ITR) processing time to one day and hence speed up refunds.

06:22:22 on 16 Jan

Read more at The Hindu

SBI plans to sell over Rs 15,000 crore worth bad loans belonging to Essar Steel to recover its dues from the debt-laden steel maker. "State Bank of India (SBI) invites expression of interest (EoI) from banks/ARCs/NBFCs/FIs for the proposed sale of its non performing financial asset with total dues of Rs 15,431.44 crore," the bank said in an advertisement.

05:53:36 on 16 Jan

Read more at News18

The Union Cabinet on Wednesday approved fund infusion in Export-Import Bank of India (Exim Bank), sources said. The infusion would help the bank expand its business, they added. The government had provided for ₹ 500 crore towards capital infusion in the Exim Bank in the budget for this fiscal. The government had infused ₹ 500 crore in Exim Bank last financial year.

03:25:18 on 16 Jan

Read more at The Hindu

India has committed to purchase USD 5 billion worth of oil and gas from the US per annum and USD 18 billion worth of defence equipment that are under implementation, a top Indian diplomat here said, highlighting the growing bilateral trade cooperation. In the last two years, the bilateral trade has increased from USD 119 billion to USD 140 billion.

12:58:27 on 16 Jan

Read more at Hindustan Times
Pound rises after 'meaningful' Brexit vote

The pound has risen after MPs voted to reject Theresa May's Brexit deal by 230 votes. The vote opens up a range of outcomes, including no deal, a renegotiation of Mrs. May's deal, or a second referendum. Sterling rose 0.05% to $1.287 after declines of more than 1% earlier in the day. The currency slumped 7% in 2018 reflecting uncertainty about the terms of the Brexit.

09:52:57 on 16 Jan

Read more at BBC

Momentum is easing across the world’s major economies, according to a gauge the OECD uses to predict turning points. The Composite Leading Indicator is the latest sign of a synchronized slowdown in global growth, adding to recession warnings sparked by industrial figures in Germany last week and and slumping trade figures for China earlier on Monday.

08:55:02 on 14 Jan

Read more at Hindustan Times

Taking on Reliance Jio, Bharti Airtel has discontinued international roaming activation fee for all its subscribers. The telco prior to the new development was charging Rs. 99 as an international roaming activation fee. The new development emerges months after Airtel launched its 'Foreign Pass' international roaming voice packs starting at Rs. 196.

07:55:02 on 14 Jan

Read more at NDTV

Consumer inflation was at 2.19 per cent in December, the government said on Monday. That marked the lowest level of consumer inflation recorded since June 2017, when it had stood at 1.46 per cent. Forty one economists had expected consumer inflation at 2.20 per cent in December, according to a January 3-9 poll by news agency Reuters.

06:52:48 on 14 Jan

Read more at NDTV

The Reserve Bank of India (RBI) has raised a red flag on the spike in NPAs under the Pradhan Mantri Mudra Yojana, the government's flagship scheme to support micro enterprises in the country. According to Finance Ministry sources, the RBI has cautioned the ministry that the scheme might turn out to be the next big source of NPAs, which have plagued the banking system.

07:25:01 on 13 Jan

Read more at NDTV

Following a rise in global crude oil prices, transport fuel rates were hiked on Friday for the third time this month after a prolonged period of fall in petrol and diesel prices. As per data from state-run Indian Oil Corp, petrol prices rose by 19 paise per litre on Friday and diesel by 28 paise across the four major metros.

07:54:28 on 11 Jan

Read more at The Quint

Industrial output growth dropped to a 17-month low of 0.5 per cent in November on account of contraction in the manufacturing sector, particularly consumer and capital goods. The manufacturing sector, which constitutes 77.63 per cent of the index, recorded a contraction of 0.4 per cent in November as against a growth of 10.4 per cent a year ago.

07:30:49 on 11 Jan

GST Council on Thursday constituted a seven-member group of ministers (GoM) to look into the issues of GST rates for the real estate sector, Finance Minister Arun Jaitley said here. The Council constituted another GoM to look into the uniformity of tax rates in case of lotteries, regarding which there are wide differences between the states and the Centre.

07:14:49 on 10 Jan

Read more at The Quint

RBI is accountable to the government and should make policies within the framework set by the government, according to a former central bank chief now heading a panel tasked with framing guidelines for the transfer of the RBI's surplus funds to the government. Bimal Jalan, the 77-year-old ex-bureaucrat, was appointed to chair the panel late last month.

04:31:25 on 10 Jan

Read more at NDTV

The government will exempt small businesses with annual sales of up to Rs. 40 lakh from paying taxes under GST, finance minister Arun Jaitley said on Thursday, a move aimed at wooing a key voting group ahead of a national election. Currently, firms with an annual turnover of up to Rs. 20 lakh are exempted from registration under a unified national GST launched in 2017.

03:57:30 on 10 Jan

Read more at NDTV

The govt has made multiple attempts at turning around the loss-making Air India pumping in more money to fund its day-to-day operations, making some operational improvements and finally talking of a four-pronged strategy for a complete turnaround. But the ground reality remains stark, the airline continues to bleed and band-aid solutions are unable to stop this bleeding.

09:20:18 on 10 Jan

Read more at News 18

India's GDP is expected to grow at 7.3% in the fiscal year 2018-19, and 7.5% in the following two years, the World Bank has forecast, attributing it to an upswing in consumption and investment. The World Bank said India will continue to be the fastest growing major economy in the world. China's economic growth is projected to slow down to 6.2% each in 2019.

06:13:31 on 09 Jan

Read more at NDTV

The gold jewelry industry in the country has not witnessed any significant growth in the last two years, particularly after demonetisation and GST. Though the majority of the population of the older generation saw the precious metal as a long-time investment,the change in the lifestyle of the younger generation, has applied a brake on the jewelry business.

07:12:49 on 08 Jan

Read more at The Quint

Gold imports by India tumbled by a fifth last year as high domestic prices deterred buyers in the second-biggest consuming nation and local stores remained well-stocked, highlighting a headwind to global demand even as bullion in dollars gains on renewed haven buying. Overseas purchases fell to 762 metric tons in 2018, a 20 percent slump from the previous year.

03:57:49 on 08 Jan

Mark Twain, had quoted 19th century British PM, Benjamin Disraeli, when he said, “There are three kinds of lies: lies, damned lies, and statistics”. In today’s India, it would be, “There are three kinds of lies: lies, damned lies, and anything Jaitley says”. Therefore, the next time you hear Jaitley make any statement or write a blog, take it with a bucket of salt.

09:55:02 on 07 Jan

Read more at The Print

The government on Monday said it estimated GDP growth at 7.2 per cent in 2018-19, as against 6.7 per cent in 2017-18. The economic growth projection was part of the "First Advance Estimates Of National Income 2018-19" report by the CSO, under the Ministry of Statistics and Programme Implementation. The growth estimate was in line with economists' expectations.

06:07:41 on 07 Jan

Read more at NDTV

Amazon and Walmart find themselves on the same side for once. The bitter rivals have come together in India to lobby the government on regulations that threaten to dampen their expansion ambitions. Among other things, the giant retailers are asking for an extension on a Feb. 1 deadline for implementing those rules, according to people with knowledge of the matter.

04:55:02 on 07 Jan

Read more at Livemint