Economy

INDIA:Union Budget-2017 Promises Affordable Housing

INDIA:Union Budget-2017 Promises Affordable Housing

Economy, India
New Delhi--- With a view to providing affordable housing, the finance minister has proposed to provide some concessions in the scheme of Income Tax exemption. The definition of affordable housing has been changed. Now the area of 30 Square Metre in four metropolitan cities and 30 Square Metre for the rest of country will be counted as carpet area instead of built-up area. The completion period has also been extended to 5 years from 3 years. The tax on Notional rental income for builders has been proposed to calculate only after 1 year from the end of the year in which completion certificate is received. Some changes in Capital Gain taxation for immovable properties have also been proposed to take effect, as holding period reduced for computation of long-term capital gain from three years

Central Bank increases cash withdrawal limit at ATMs to Rs10,000 per day

Economy
New Delhi: In post demonetization days, the Reserve Bank of India (RBI) in a bid to provide respite to the cash-starved citizens of India, has announced the new cash withdrawal limit at automated teller machines (ATMs). Now, the ATM card holders can withdraw ₹10,000 per day per card. The withdrawal limit has been raised from ₹ 4,500. But the weekly cap of withdrawal will be the same of ₹ 24,000.  The central bank has also raised the withdrawal limits for the current accounts to ₹1 lakh from ₹ 50,000.
‘Remonetise India – A Citizen’s Pledge’ has been Kicked Off by TIMES NETWORK

‘Remonetise India – A Citizen’s Pledge’ has been Kicked Off by TIMES NETWORK

Economy, India
Mumbai, India (BusinessWireIndia)--- TIMES NETWORK, the broadcast arm of the Times Group initiated, ‘Remonetise India - A Citizen's Pledge’, a nationwide crusader campaign, urging Indians to take the next step from demonetization and Pledge for Growth.  Keeping the government’s vision in mind, Remonetise India is an initiative by TIMES NETWORK which calls all the Citizens of India to come out and make a difference. Urging the citizens to be the change agent for the changes they want to see and bring India's economy back on track. Today, TIMES NETWORK conducted a LIVE Telethon from 6:00 pm to 8:00 pm, across all channels of the network and connected viewers to Opinion and Policy makers, encouraged them to invest more and educated the them about moving to a digital and a less cash economy.  
Lucky draw schemes for Digital payments to begin tomorrow

Lucky draw schemes for Digital payments to begin tomorrow

Economy
New Delhi (GN News) ---The government of India is going to start lucky draw schemes namely, Lucky customer and Digi-Dhan business plan with a view to promote digital payment culture in the country from tomorrow. Under these schemes, people will get the reward on digital payments on a daily basis. The first draw of the Lucky Customer Scheme will be launched tomorrow and under this scheme, consumers will get a cashback of Rs.1000 to 15,000 every day for the next 100 days. The lucky draw winners for the Lucky Customer Scheme will be selected on a daily basis, while the winners of Digi-Dhan business plan will be selected on weekly basis. A mega draw is scheduled to be held on 14th April 2017. After that, the lucky draw schemes shall be reviewed for further implementation. The draws are planned
Amounts exceeding Rs.5000 in old notes can be deposited only once between now and 30th December, 2016

Amounts exceeding Rs.5000 in old notes can be deposited only once between now and 30th December, 2016

Economy
New Delhi (PIB News) ---The deposits of old notes of Rs.500 and Rs.1000 denominations have been reviewed by the Government from time to time. Already more than five weeks have elapsed since the time of the announcement of the cancellation of the legal tender character of these notes. It is expected that, by now, most of the people would have deposited such old notes in their possession. Keeping this in view and to reduce the queues in the banks, it has now been decided that amounts exceeding Rs.5000 in old notes can be deposited only once between now and 30th December, 2016. The banks have been advised to conduct due diligence regarding the reasons for not depositing these notes earlier. Amounts of Rs.5000 or less may continue to be deposited with banks in the customer’s account, as at pre
India: Government is Committed to Promote Organic Farming, Says Agriculture Minister

India: Government is Committed to Promote Organic Farming, Says Agriculture Minister

Agriculture, Economy, India
Ghaziabad (PIB News) --- Union Agriculture and Farmers Welfare Minister, Radha Mohan Singh said that in view of the importance of organic farming, with emphasis on sustainable production, food security and soil health, Central Government is committed to promote organic farming. Singh was speaking on the inauguration of the Agriculture fair based on Organic Farming here today. The Minister of Agriculture said that the Government is promoting organic farming across the country through the dedicated scheme of Paramparagat Krishi Vikas Yojana (PKVY) and Organic Value Chain Development for Northeast regions (OVCDNER under National Mission for Sustainable Agriculture (NMSA). Singh said that Paramparagat Krishi Vikas Yojana(PKVY) scheme is the first comprehensive plan based on a 20-hectare cluste...
Global Telecom Giant Vodafone Introduces Digital Payment Solution in India

Global Telecom Giant Vodafone Introduces Digital Payment Solution in India

Economy
  New Delhi--- Vodafone India announced here the launch of Vodafone M-Pesa PAY, which is an easy and ready to use digital payment solution. Now the merchants and retailers can receive payments from their customers without any exchange of cash. To start using this exceedingly friendly digital payment solution, retailers and merchants simply have to download Vodafone M-Pesa app and register for Vodafone M-Pesa PAY as a merchant. Once registered, they can notify an individual customer to make the payment due. Customers just need to click on the notification and make payment digitally using their M-Pesa wallet, bank account and debit or credit card in a completely seamless, worry-free and secure manner. Launching Vodafone M-Pesa PAY, Sunil Sood, MD & CEO at Vodafone India said, “The H
MPJ Urges Maharashtra Government to Provide Food Security to People Affected by Demonetisation

MPJ Urges Maharashtra Government to Provide Food Security to People Affected by Demonetisation

Economy
Mumbai--- Movement for Peace and Justice for Welfare(MPJ), a public movement working for the betterment of the society has demanded to provide food security to the people affected by the government’s move of demonetization. MPJ is of view that, the state of Maharashtra is in the grip of severe crisis due to the demonetisation. Muhammad Siraj, President of the organisation says that “there is a disaster like situation for the citizens in general and the people belonging to the economically weaker sections in particular. The life of daily wage earners has become miserable. The unorganised labourers are worst sufferer. They are losing jobs, as their employers have no cash to pay the wages. This demonetisation has put a big question mark on their existence, as the majority of these low wage ea

Demonetisation: How to get back the hard earned money

Economy, India
Kochi (BWI) --- Government’s recent move to curb black currency market through the withdrawal of 500 and 1000 rupee notes from the economy has left the common populace with several queries. How to get back the hard earned money was the repeated question from every nook and corner of the nation. Supporting UAE Exchange India, one of the pioneers of financial services has come up to share valuable information with the public. Here are some of the important queries common man poses: How can I exchange my 500 and 1000 rupee notes? Individuals can deposit their old notes with a valid ID in nearest Banks or Post Office from 10th November to 30th December 2016. You can even exchange the currency till 31st March 2017 with the support of valid ID at RBI. What is the limit of ATM withdrawal? Withdra

Hyundai Motor India Launches Global SUV ‘The All New Tucson’

Economy, India
New Delhi (BWI)--- Hyundai Motor India Limited the wholly owned subsidiary of Hyundai Motor Company and the largest passenger car exporter and the second largest car manufacturer in India today launched its Global SUV ‘The All New Tucson –Born Dynamic’ in India consolidating its SUV line-up for the aspirational Indian customers.  Hyundai Motor India Ltd., the country’s leading premium car manufacturer currently has ten car models across segments – Eon, i10, Grand i10, Elite i20, Active i20, Xcent, Verna, Creta, Elantra, Tucson and Santa Fe. If company sources are to be believed, the launch of 3rdGeneration All New Tucson in India will propel Hyundai towards Market Leadership. Mr. Y K Koo, MD & CEO, Hyundai Motor India Ltd said, “The aspiration of owning an SUV is a global phenomenon. T