Tourism sector witnesses 70 percent decline in revenue since August: Report
Srinagar The J&K tourism sector has witnessed 70 per cent decline in revenue after the Centre abrogated Article 370, which provided special constitutional status to the erstwhile state, reported The Tribune. According to report, documents from the Union Ministry of Tourism have revealed that after the issuance of security advisory on August 2, J&K has witnessed […]
Bad loans to rise in 2020, says RBI
Mumbai: Asset quality of commercial banks could worsen next year primarily due to the economic slowdown, increase in slippages and declining credit growth, warned the Reserve Bank of India (RBI) on Friday. The gross non-performing assets (GNPA) ratio may increase to 9.9 per cent by September 2020 from 9.3 per cent. “The RBI’s macro-stress tests for […]
Central banks’ gold buy highest since 1970s
Chennai: In 2019 net purchases of gold by central banks touched the highest level since fiat currencies came into existence in 1970s. RBI’s gold purchases too were at a decade-high level last year. Gold purchases by central banks stood at 668 tonnes in 2019, which was higher than 651.5 tonnes bought in 2018. Of this, 390 […]
Rumours kill tourist traffic to Kashmir.
By Muzamil Ahmad Bhat Srinagar: Additional deployment of forces coupled with rumours that the Central Government was going to do something big in Kashmir has declined the queries about the arrivals for Kashmir. Tourist’s footfall is likely to reduce in the month of August, as the rumours according to the people connected with tourist trade […]
GST Council trims rate on electric vehicles, chargers to 5 pc
The high-powered GST Council on Saturday decided to reduce the tax rate on electric vehicles (EVs) to 5 per cent from the existing 12 per cent, effective from August 1. It also slashed the Goods and Services Tax (GST) on EV chargers from 18 per cent to 5 per cent, an official statement said after […]
Rupee skids for 4th day; settles 6 paise down against dollar
Mumbai: The rupee depreciated by 6 paise to close at 69.04 against the US dollar on Thursday amid sustained foreign fund outflows and firm crude oil prices. Prolonged weakness in the domestic equity markets and a strengthening greenback further weighed on the local unit, forex traders said. At the interbank foreign exchange market, the rupee opened […]
AI Suffered Loss of Rs 430-Cr Due to Pak Air Space Closure
NEW DELHI — Air India suffered a loss of Rs 430 crore in the four-month period when air space was restricted by Pakistan after the Balakot air strikes, Civil Aviation minister Hardeep Singh Puri informed the Rajya Sabha on Wednesday. Replying to supplementaries during Question Hour, the minister said the government was committed to privatisation […]
Govt To Soon Put In Circulation New-Series Coins Of Up To Rs20
NEW DELHI — The government Friday said it will soon make available for public use the new series coins of one, two, five, 10 and 20 rupees. Prime Minister Narendra Modi on March 7 had unveiled new series of coins of one rupee, two rupees, five rupees, ten rupees and twenty rupees, easily identifiable to the […]
GoI to introduce new return system for GST on trial basis today
The government will today introduce the new return system on a trial basis on the second anniversary of Goods and Services Tax (GST). It will come into force from 1st of October this year on a mandatory basis. The Finance Ministry has also proposed Sahaj and Sugam returns for small taxpayers for the current fiscal. […]
Rupee slips 12 paise to 69.48 vs USD in early trade
Mumbai: The rupee opened on a weak note and declined 12 paise to 69.48 against the US dollar in opening trade Wednesday, amid simmering geopolitical tensions in the Middle East and higher crude oil prices. The rupee opened weak at 69.40 at the interbank forex market and then fell further to 69.48, down 12 paise […]
