1. The Department of Empowerment of Persons with Disabilities will now be known as 'Divyangjan' Sashaktikaran Vibhag in Hindi and dropped the word 'viklangjan'. 2. The Centre has approved an investment of over 5500 cr. Rs. for basic urban infrastructure in six states under Atal Mission. 3. According to the Union Railway Minister, Suresh Prabhu, the first bullet train will run in India in 2023. 4. India remained the world’s largest recipient of remittances from abroad in 2015. 5. The National Stock Exchange (NSE) has launched a new index Nifty MidSmallcap 400. It will represent the mid and small market capitalization segments of the stock market. 6. The Govt. has issued a new set of income tax return (ITR) forms that require people with an income of Rs 50 lakh and above per annum to disclose their assets. 7. International Monetary Fund (IMF) has declared the India's growth is projected to notch up to 7.5% in 2016- 17. 8. According to agency Carat, India's 2016 advertising growth rate will be the fastest at 12%. 9. The Govt. has notified that it has raised the threshold limit of PF withdrawal for deduction of tax (TDS) from existing Rs 30,000 to Rs 50,000. 10. The Govt. has relaxed FDI norms for the insurance sector bypermitting overseas companies to buy 49% stake in domestic insurers. 11. The Govt. permitted 100% FDI in the marketplace format of e-commerce retailing. 12. The cabinet approved a 6% hike in Dearness Allowance (DA) to central Govt. employees and Dearness Relief (DR) to pensioners. 13. Saudi Oil giant Aramco plans to make major investment in India’s petroleum sector. 14. India To Clock 7.4% GDP Growth This Fiscal, Says Stanchart. 15. As per an amendment to the Finance Bill 2016 approved by Lok Sabha, new 10% Dividend Tax will be payable only on dividend income over and above Rs. 10 lakh threshold in a year. 16. DIPP allowed 100% foreign direct investment (FDI) in asset reconstruction companies (ARCs) under the automatic route. 17. Govt. plans to provide mobile connectivity in 55,669 villages by March 2019 in a phased manner. 18. NSE is all set to launch a new trade receivable and credit exchange platform for micro, small and medium enterprises (MSMEs). 19. The Govt. of India has started the disinvestment process and has planned to sell its 11.36% equity shares in the National Hydroelectric Power Corporation (NHPC). 20. Union Finance Ministry extended the safeguard duty on steel imports until March 2018. The safeguard duty will be 20% minus any existing dumping duty till September 2016, reduced to 18% till March 2017, then brought down to 15% till September 2017 and eventually to 10% by March 2018. 21. The Cabinet gave approval for increasing the framework agreement between Exim Bank of India and a consortium of Iranian banks lead by Central Bank of Iran. 22. World Bank President Jim Yong Kim announced that the World Bank Group will invest 2.5 billion US dollars over 5 years in education projects that directly benefit adolescent girls. 23. Union Govt. notified that the Department of Disinvestment is renamed as Department of Investment and Public Asset Management or DIPAM. 24. The Cabinet approved to enhance investment by Bharat Petroleum Corporation Limited (BPCL) in Bharat Oman Refineries Limited (BORL). 25. Cabinet approved World Bank’s $1500 million support to Swachh Bharat Mission – Gramin. 26. The Central Board of Direct Taxes (CBDT) signed 11 unilateral Advance Pricing Agreements (APAs). With this, India entered into 59 unilateral/bilateral APAs. 27. Markets regulator, the Securities and Exchange Board of India (SEBI) decided to increase the Foreign Portfolio Investors (FPI) investment limit in Central Govt. securities. The limit was increased to 140000 cr. Rs. from 135400 cr. Rs.. 28. The DIPP increased 100% FDI in Business to Business (B2B) ecommerce. 29. The Cabinet Committee on Economic Affairs (CCEA) gave its approval for winding up of National Manufacturing Competitiveness Council (NMCC) with immediate effect. 30. The Japanese financial company Nomura has announced fully departure of its mutual fund joint venture with insurance giant Life Insurance Corporation of India (LIC). LIC Nomura Mutual Fund has now been renamed LIC Mutual Fund. 31. Fitch, the global rating agency has maintained India's growth forecast for India at 7.5 % for this fiscal (2015- 2016) and also sees higher growth around 7.7 % and 7.9 % over the next two financial years. 32. The Govt. will divest 5% stake in Container Corporation of India (Concor) through the offer for sale (OFS) route.
ECONOMY NEWS
1. The Department of Empowerment of Persons with Disabilities will now be known as 'Divyangjan' Sashaktikaran Vibhag in Hindi and dropped the word 'viklangjan'. 2. The Centre has approved an investment of over 5500 cr. Rs. for basic urban infrastructure in six states under Atal Mission. 3. According to the Union Railway Minister, Suresh Prabhu, the first bullet train will run in India in 2023. 4. India remained the world’s largest recipient of remittances from abroad in 2015. 5. The National Stock Exchange (NSE) has launched a new index Nifty MidSmallcap 400. It will represent the mid and small market capitalization segments of the stock market. 6. The Govt. has issued a new set of income tax return (ITR) forms that require people with an income of Rs 50 lakh and above per annum to disclose their assets. 7. International Monetary Fund (IMF) has declared the India's growth is projected to notch up to 7.5% in 2016- 17. 8. According to agency Carat, India's 2016 advertising growth rate will be the fastest at 12%. 9. The Govt. has notified that it has raised the threshold limit of PF withdrawal for deduction of tax (TDS) from existing Rs 30,000 to Rs 50,000. 10. The Govt. has relaxed FDI norms for the insurance sector bypermitting overseas companies to buy 49% stake in domestic insurers. 11. The Govt. permitted 100% FDI in the marketplace format of e-commerce retailing. 12. The cabinet approved a 6% hike in Dearness Allowance (DA) to central Govt. employees and Dearness Relief (DR) to pensioners. 13. Saudi Oil giant Aramco plans to make major investment in India’s petroleum sector. 14. India To Clock 7.4% GDP Growth This Fiscal, Says Stanchart. 15. As per an amendment to the Finance Bill 2016 approved by Lok Sabha, new 10% Dividend Tax will be payable only on dividend income over and above Rs. 10 lakh threshold in a year. 16. DIPP allowed 100% foreign direct investment (FDI) in asset reconstruction companies (ARCs) under the automatic route. 17. Govt. plans to provide mobile connectivity in 55,669 villages by March 2019 in a phased manner. 18. NSE is all set to launch a new trade receivable and credit exchange platform for micro, small and medium enterprises (MSMEs). 19. The Govt. of India has started the disinvestment process and has planned to sell its 11.36% equity shares in the National Hydroelectric Power Corporation (NHPC). 20. Union Finance Ministry extended the safeguard duty on steel imports until March 2018. The safeguard duty will be 20% minus any existing dumping duty till September 2016, reduced to 18% till March 2017, then brought down to 15% till September 2017 and eventually to 10% by March 2018. 21. The Cabinet gave approval for increasing the framework agreement between Exim Bank of India and a consortium of Iranian banks lead by Central Bank of Iran. 22. World Bank President Jim Yong Kim announced that the World Bank Group will invest 2.5 billion US dollars over 5 years in education projects that directly benefit adolescent girls. 23. Union Govt. notified that the Department of Disinvestment is renamed as Department of Investment and Public Asset Management or DIPAM. 24. The Cabinet approved to enhance investment by Bharat Petroleum Corporation Limited (BPCL) in Bharat Oman Refineries Limited (BORL). 25. Cabinet approved World Bank’s $1500 million support to Swachh Bharat Mission – Gramin. 26. The Central Board of Direct Taxes (CBDT) signed 11 unilateral Advance Pricing Agreements (APAs). With this, India entered into 59 unilateral/bilateral APAs. 27. Markets regulator, the Securities and Exchange Board of India (SEBI) decided to increase the Foreign Portfolio Investors (FPI) investment limit in Central Govt. securities. The limit was increased to 140000 cr. Rs. from 135400 cr. Rs.. 28. The DIPP increased 100% FDI in Business to Business (B2B) ecommerce. 29. The Cabinet Committee on Economic Affairs (CCEA) gave its approval for winding up of National Manufacturing Competitiveness Council (NMCC) with immediate effect. 30. The Japanese financial company Nomura has announced fully departure of its mutual fund joint venture with insurance giant Life Insurance Corporation of India (LIC). LIC Nomura Mutual Fund has now been renamed LIC Mutual Fund. 31. Fitch, the global rating agency has maintained India's growth forecast for India at 7.5 % for this fiscal (2015- 2016) and also sees higher growth around 7.7 % and 7.9 % over the next two financial years. 32. The Govt. will divest 5% stake in Container Corporation of India (Concor) through the offer for sale (OFS) route.
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