Economy

Railways raises ticket cancellation fee by 100%: All you need to know

. The railways has doubled the ticket cancellation charge as it has proposed to change the refund rules to help genuine passengers getting confirmed tickets. Here are key things you need to know about the development.   There will be no refund after the departure of train and one has to get the refund four hours before the departure, according ... Read More »

BJP Bihar defeat unlikely to have economic implications, says Fitch Ratings

Fitch Ratings today said BJP’s defeat in the Bihar assembly elections is unlikely to have any major implications on the economic front, but could complicate politics for the government. The rating agency said the defeat does not change its view on the medium-term economic outlook for India. “The loss may complicate politics for the central government, but we don’t expect ... Read More »

Coal imports drop for fourth straight month, says coal secretary Anil Swarup

“Coal imports fell 5 per cent in October for the fourth straight monthly decline,” said the coal secretary on Monday as domestic production rises fast under the government’s push to open a mine a month. “April-October imports fell 4.6 per cent from the year-ago period,” coal secretary Anil Swarup tweeted citing data from the trade ministry. He did not give ... Read More »

NDA defeat in Bihar no setback to economy: FM Arun Jaitley

Attributing the NDA’s defeat in Bihar assembly elections to ‘huge index of opposition unity’, Finance Minister Arun Jaitley on Monday said it will not impact the economic reforms process. “I don’t see it as a setback to the economy… structural reforms will continue. They should continue at a rapid pace,” he said. Admitting that some irresponsible statements by certain BJP ... Read More »

Rupee hits 8-week low of 66.44, drops 68 paise

The rupee on Monday tumbled by 68 paise to close at a nearly 8-week low of 66.44 against the American currency on persistent dollar demand from banks and importers amidst sharp fall in equities. The rupee resumed lower at 66.41 as against the last weekend’s level of 65.76 at the Interbank Foreign Exchange market and dropped further to 66.50 before ... Read More »

Bihar defeat an additional stumbling block to reform agenda: Barclays

BJP’s big setback in Bihar elections could be a “stumbling block” to the central government’s reform agenda, global giantBarclays said on Sunday. According to the global brokerage firm, the Bihar election verdict could also lead to “weakness” in the stock market. “We feel that Sunday’s results – the BJP’s big defeat – could be a material sentiment dampener in Monday’s ... Read More »

India-China ties globally significant, says President Pranab Mukherjee

Relations between India and China have a regional and global significance, President Pranab Mukherjee said when Chinese Vice President Li Yuanchao called on him, said a statement on Saturday. Li called on Mukherjee on Friday and the two leaders reviewed ties between India and China , according to a Rashtrapati Bhavan statement. Mukherjee pointed out that Li was the first ... Read More »

No hike in petrol, diesel prices despite higher excise duty

Petrol and diesel prices will not be increased following government’s decision to hike excise duty by Rs 1.60 per litre and 40 paise a litre respectively as state-owned oil companies have decided to absorb the raise for the time being. The government late last night raised excise duty on petrol and diesel to mop up additional revenue to meet budgetary ... Read More »

India positioned more favourably for future than China, says World Economic Forum

In the coming years, India is positioned much more favourably than China in terms of growth, the World Economic Forum has said though it observed that it is not entirely smooth sailing just yet. “There is now a consensus among analysts that there are only a few bright spots in the global economy, and India is one of them,” Viraj ... Read More »

Maharashtra government to disinvest assets in 7 loss-making Public Sector Enterprises

The Maharashtra government has decided to disinvest its assets in seven loss-making Public Sector Enterprises (PSEs) in the state. At present, there are 55 such PSEs under administrative control of 20 departments of the state government. The seven ailing PSEs in the line of disinvestment are – MAFCO, MELTRON, Maharashtra Land Development Corporation, Maharashtra Textile Development Corporation, and Vidarbha, Marathwada ... Read More »