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Income inequality in India Top 01 earned more than bottom 50

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New Delhi: Income inequality in India has reached historically high levels as the top 0.1 percent of earners increased their total wealth more than all of those in the bottom 50 percent combined, says a study.

Economic inequality is widespread in India and has been growing substantially since 1980s, the study by the World Inequality Lab said.

"The income ine

Mukesh Ambanis wealth swelled by over Rs 1 lakh crore in last one year

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Mumbai: Reliance Industries Chairman Mukesh Ambani has again topped the list of richest Indian for the 10th consecutive year, business magazine Forbes India said on Thursday.

Ambani, who cemented his decade-long hold on the top slot, added a staggering USD 15.3 billion (over Rs 1 lakh crore) or 67 percent to his last year's wealth to become one of Asia's top fi

30 items of mass consumption to cost less GST cess to go up on SUVs large cars

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Hyderabad: The GST rates on 30 items of mass consumption were slashed on Saturday while the cess on mid and high-segment cars went up as the Council formed a five-member Committee to sort out technical glitches faced on the return-filing portal while the last date for GSTR 1 has been extended by a month.

Briefing the media after the second review meeting post the Goods

Cash deposits of Rs 289 lakh crore in 1333 lakh accounts post note ban under I-T radar

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New Delhi: The Income Tax department on Thursday said that cash deposits of Rs 2.89 lakh crore in 13.33 lakh accounts is under its radar.

Using data analytics, 13.33 lakh accounts of some 9.72 lakh persons with unusual cash deposits of around Rs 2.89 lakh crore was identified and response sought.

The resource was captured "within a short span of 3-4 weeks,&q

Indias Q1 GDP growth slows down to 57 lowest in 13 quarters

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New Delhi: India's GDP growth slipped to 13-quarter low of 5.7 percent year-on-year during the April-June quarter as compared to 6.1 percent in January-March, government data showed on Thursday.

The GDP growth rate for the same quarter last year was 7.9 percent.  The previous low of 4.6 percent was recorded in January-March 2014.

The slowdown was led by

Indias Q1 GDP growth slows down to 57 lowest in 13 quarters

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New Delhi: India's GDP growth slipped to 13-quarter low of 5.7 percent year-on-year during the April-June quarter as compared to 6.1 percent in January-March, government data showed on Thursday.

The GDP growth rate for the same quarter last year was 7.9 percent.  The previous low of 4.6 percent was recorded in January-March 2014.

The slowdown was led by

Falling FD rates Invest in these financial instruments to get attractive returns

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New Delhi: In the present scenario, where interest rates are following a downward slope, investors dependent on income from traditional financial instruments such as fixed deposits (FDs) don't have much to cheer about. Banks are offering interest rates in the six to seven percent range for different time periods. Even the latest 25 basis point cut by the Reserve Bank has

Flexi fare Railways earns additional Rs 540 crore in less than a year

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New Delhi: The Railways has earned an additional revenue of Rs 540 crore in less than a year through the flexi fare scheme and there is no plan to discontinue it, a senior ministry official said.

The scheme, launched on September 9 last year, is applicable in Rajdhani, Shatabdi and Duronto trains, allowing 10 per cent of the seats to be sold at normal fare and thereaft

Air India made flyers to sit without AC in snag-hit flight for three hours

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Mumbai: Following a technical glitch in flight number AI 809,  passengers of Delhi-bound Air India flight on Saturday were forced to sit inside the aircraft for over three hours without the air conditioning working.  

The flight, AI 809, which was scheduled to depart from the Chhtatrapati Shivaji International Airport, Mumbai at 11.15 am for New Delhi, took o

ITR 2017 Know why you should file income tax returns within due date

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New Delhi: Income Tax Returns (ITR) for 2016-17 (assessment year 2017-18) were originally to be filed by 31 July, however the deadline was extended to 5 August.

But now that Income tax department has extended the deadline for filing ITRs, you must not take a laid-back approach as procrastinating your tax return can create several problems for you.

Chetan Chandak,

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