Petrol price cut by 50p to Rs 60.70 effective midnight, diesel rates left unchanged

Petrol price was today cut by Rs 0.50 per litre but there will be no change in rates of diesel. Petrol will cost Rs 60.70 per litre in Delhi from midnight tonight as against Rs 61.20 currently, Indian Oil Corp, the nation’s largest fuel retailer, said. This is first change in petrol price since September 1 when it was cut ... Read More »

Arun Jaitley hopes for sustained low rates, inflation under control

Other Articles Villagers in Varanasi blame Coca-Cola for water scarcity Delhi’s redevelopment policy: The rush before the announcement Ahead of winter, hint of GST thaw Expecting inflation to remain under control, Finance Minister Arun Jaitley today said he is hopeful that the downward move in interest rates will stay. Speaking at a housing market event here, he said the Reserve ... Read More »

RBI Guv Raghuram Rajan: Excessive political correctness stifles economic growth

Amid a raging debate over intolerance, Reserve Bank of India Chief Raghuram Rajan today said excessive political correctness stifles progress and called for an improved environment for tolerance and mutual respect. Raghuram Rajan also said protection of right to question and challenge was essential for India to grow. Speaking at the convocation of IIT Delhi, the RBI Governor said actions ... Read More »

Centre’s bill on hold, states move on land acquisition

With the Centre putting its land acquisition Bill in cold storage, states are now taking the lead to seek an exemption from the 2013 Act passed by the previous UPA government to get around provisions such as land owners’ consent and social impact assessment. While Tamil Nadu has moved ahead by amending a related Act, a senior official said other ... Read More »

Draft aviation policy: No clarity yet on AirAsia, Vistara overseas flights

In an indication the government may continue with the 5/20 rule for airlines, the draft civil aviation policy on Friday put forth three options: Retaining it, withdrawing it altogether or withdrawing it with a caveat. The 5/20 rule requires an Indian airline to have a minimum fleet size of 20 aircraft and operational experience of five years before it can ... Read More »

Mauritius’ pitch has Africa sop

Mauritius has made a strong case for Indian businesses to set up manufacturing or investment companies in the island nation to get easier access to at least 21 African nations with the same or better tax and fiscal advantages that Mauritius-incorporated firms now enjoy when investing in India. This even as the nation off the southeast coast of the African ... Read More »

WEF survey: Narendra Modi is 10th most admired across the world, but a reforms flop may reverse that

There may not be much to show on the ground in terms of improvement in the growth and investment scenario due to the NDA government’s policies since it has taken over in May 2014, but it is also a fact that faith on Prime Minister Narendra Modi, both domestically and globally, that he has the potential to deliver, somehow, is ... Read More »

GST key reform for creating single market in India: World Bank

The proposed GST law is the most important reform towards creating a single market in India and if it is implemented by April 2016 then its impact will be visible by 2018, the World Bank said today. “The GST (Goods and Services Tax) is the single most important tax reform because it is so important for creating one market in ... Read More »

PM Narendra Modi, Mahatma Gandhi among most admired globally: WEF survey

Prime Minister Narendra Modi is the 10th most admired personality globally, as per a new survey by the World Economic Forum (WEF) that has ranked late South African President Nelson Mandela on the top. Mahatma Gandhi is ranked fourth most admired leader, according to a survey of more than 1,000 millennials. The respondents were spread across 285 cities in 125 ... Read More »

Two CCI members order fine on JP Associates; Chairman, others overrule

Raising serious concerns over unfair business practices in realty sector, two members of Competition Commission have ordered Rs 666 crore fine on JP Associates, but were overruled by the Chairman and other members of the regulatory body. The proposed penalty was overruled by 3:2 majority vote by the Competition Commission of India (CCI), even as all the members pressed for ... Read More »