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Rs 500, Rs 1000 notes scrapped on advice of RBI: Ravi Shankar Prasad​

Rs 500, Rs 1000 notes scrapped on advice of RBI: Ravi Shankar Prasad​

Law and IT Minister Ravi Shankar Prasad on Saturday said the decision to scrap Rs 500/1000 notes was taken by the government on the recommendation of the Reserve Bank of India.

Keep agri-produce out of GST ambit: PHD Chamber

Arguing that expenses related to food constitute a sizeable portion of lower-income households, PHD Chamber Friday said that agriculture and agri-produce including food processing industry should be kept out of GST.

RBI should cut key rates by at least 0.50%, PHD chamber urges

Pointing out that India's real rate of interest has reached a 10-year high, PHD Chamber has exhorted the RBI to slash the benchmark rate by at least 50 basis points in the monetary policy review on Tuesday.

Food inflation not much correlated with monsoon: Study

Monsoon behaviour is not much related to higher prices of food items and inflation is expected to remain subdued this year despite good or bad monsoon, PHD Chamber said in the study.

Improving macro-economics to boost investors' confidence: PHD Chamber

According to the industry chamber`s President Alok B.Shriram, the macro-economic situation of the country has improved in terms of inflation, industrial output (IIP), core infrastructure and exports.

Monsoon revival to help economy grow at 5.9%: PHD Chamber

According to the Indian Meteorological Department, heavy rains that covered the entire country have narrowed the monsoon deficit to 36 percent from 45 percent in earlier weeks.

India's net FDI inflows grew 50% in Q1 FY14 on reforms: PHDCCI

Driven by the government's recent reform measures, India's net foreign direct investment (FDI) inflows recorded over 50 per cent growth during the April-July quarter of the current fiscal.

Gold rebounds on strong demand, global firmness

Silver also rose sharply on heavy speculative as well as industrial off-take.

'Gold price may bounce back in medium-term'

The industry body said gold is viewed as a tool not only for hedging inflation, it is now seen as a hedge against weak economic fundamentals, which cause severe economic downturns such as high unemployment, rising fiscal deficits, high debt-GDP ratios, sluggish output and weak currency scenarios.

Visa pact to boost trust and confidence with Pak: PHD Chamber

The signing of visa pact between India and Pakistan today is set to promote trust and confidence among the countries on both sides of the border, industry body PHDCCI said.

RBI may not cut rates in view of high inflation: Experts

The index of industrial production (IIP) -- gauge of industrial activity in terms of production -- showed a 2.4 percent growth in May, down from 6.2 percent a year ago.

Steep hike in petrol prices unfortunate: PHD Chamber

Industry body PHD chamber has said that the steep hike in petrol prices is unfortunate in the wake of the limited scope for the government to absorb the impact of the depreciating rupee.

Indo-Pak bilateral trade may touch $10 bn by 2015: PHD chamber

Bilateral commerce between India and Pakistan may touch USD 10 billion by 2015, if trade and investment barriers are removed, PHD chamber has said.

Incentivise Investments to Expand Capacities: PHD Chamber

PHD Chamber has said that it looks forward to a dynamic Budget.