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Category Archives: Economy

Government sanctions 4,239 Crore rupees for UP under AMRUT scheme

Government approved projects worth Rs 4,239 crore for enlightening city infrastructure throughout next three years in Uttar Pradesh under AMRUT scheme.   After the Rs. 4239 crore approvals, now the total spending in the state will touch to Rs 11,421 crore which is the uppermost among all states under AMRUT scheme. AMRUT is Atal Mission for Rejuvenation and Urban Transformation ... Read More »

Government approves RBI to Print 10 Rupee Plastic Notes

Government has approved Reserve Bank of India to have trial of printing 10 rupees plastic notes. Minister of State for Finance Arjun Ram Meghwal stated this information in LOK Sabha stating that plastic notes to have a lengthier life span compare to normal paper used in printing currency. BJP government in year 2017 said that one billion plastic notes of 10 rupees ... Read More »

Post Office Savings Bank Account can save you from AQB Charges

  Recently when SBI announced that there needs to be an AQB of Rs.5,000 there were lot of hues and cries as it is beyond the means of many household which thrives on shoestring budget. Team NewsPatrolling looked out for other options to see what could be the best viable option. Surprisingly, it is the Post Office which is located ... Read More »

In January Industrial production grows to 2.7%

As per the Central Statistics Office data, India’s industrial production rose 2.7% in January after the demonetisation. The growth was incomplete because of the base result as output shrunk to 1.59% in January 2016. It was better than the 0.38% reduction in December 2016, however, protected the 5.65% development posted in November 2016. Pankaj Patel, President of the industry body ... Read More »

Union cabinet accepts UAE oil for Indian planned fallback

In direction of boosting India’s energy safety, on Monday Union cabinet did approval for passing of an agreement that will see crude oil for planned storage movement in from Abu Dhabi to meet unforeseen future demands. As per the contract between Indian Strategic Petroleum Reserve Ltd and Abu Dhabi National Oil Company of UAE, ADNOC will refill 0.81 million tonnes ... Read More »

GST: Small traders yet to adopt digital technology; demand delay in roll out

The Confederation of All India Traders (CAIT) has urged the government to postpone the roll out of Goods and Services Tax (GST), citing the reason that small businesses are yet to adopt the required digital technology. CAIT said that it would prefer the roll out of GST on September 1, as 70% of small businesses are not yet prepared for ... Read More »

State Bank of India starts penalty if balance is less than minimum bracket

State Bank of India will be introducing penalty on non-maintenance of least balance in accounts from 1st April 2017, after five years also the bank has revised charges on other services which includes ATMs service charges as well.  Customer will have to pay Rs. 100 plus service tax if minimum balance is not maintained. SBI is the largest bank of ... Read More »

GST set for July launch; States agree on primary structure

The final draft of Central GST (C-GST) and Integrated GST (I-GST) has been approved by the GST Council in its meeting today. In its next meeting on March 16, the Council will carry out discussions for approving the State-GST and Union Territory-GST (UT-GST) laws. The C-GST and I-GST will now be presented in the Parliament for approval in the second ... Read More »

India’s GDP Witness 7% GDP Growth in Third Quarter of 2016-17

Compare to second quarter, Indian economy down by .3 per cent GDP in Third Quarter of the financial year 2016-17, as Third quarter witnessed 7 % GDP growth. It is minor slack and the impact is turned out of note ban announced on 8th of November 2016 by PM Modi.   RBI and other agencies like OECD and IMF estimated ... Read More »

States reach consensus on GST; roll out by July

Economic affairs secretary Shaktikanta Das has informed that the Goods and Services Tax (GST) will be rolled out by July 2017. He said that the States have agreed to the details of GST and it will not be delayed any further. It may be recalled that earlier some States had raised objections to the tax structure of GST, which had ... Read More »

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