PM Modi says Indian economy will soon reach $5 trillion : Bulletin: Business Today
Business Today

PM Modi says Indian economy will soon reach $5 trillion

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February 22, 2019

India will stop its share of Indus water to Pakistan, says Nitin Gadkari

A day after threatening to choke Pakistan's water supply, Union Minister Nitin Gadkari on Thursday said the Centre was planning to build projects on three rivers flowing into the belligerent neighbour, to divert water towards Yamuna.Under the Indus Waters Treaty, India shares water of the Beas and Sutlej rivers with Pakistan. Gadkari later took to Twitter to confirm the upcoming projects that would help divert water towards Yamuna.
How Anil Ambani's RCom reasoned for not paying Ericsson, but the SC saw through it

The Supreme Court of India has held Reliance Communications chairman Anil Ambani and two other directors guilty of contempt of court over not paying the dues to the Indian arm of Swedish telecom major Ericsson. The apex court has ordered them to pay Rs 453 crore to Ericsson within one month, or face prison time. RCom had reasoned that it tried to move "heaven and earth" to ensure Ericsson gets its due but was unable to do so due to failure of assets sale deal with Jio. However, this line of reasoning fell short of convincing the Supreme Court.

PM Modi to receive Seoul Peace Prize in South Korea; unveils bust of Mahatma Gandhi

Prime Minister Narendra Modi is in South Korea on a two-day trip. The Prime Minister is visiting the nation on invitation from President Moon Jae-in. He will also be conferred the Seoul Peace Prize. He took the stage and thanked his countrymen for the award. The Prime Minister also unveiled a bust of Mahatma Gandhi in Yonsei University

RBI Governor Shaktikanta Das meets bankers to enquire delay in cutting lending rates

Reserve Bank of India Governor Shaktikanta Das on Thursday met bankers and discussed the delay in policy rates cuts to lending rates reductions.The heads of Punjab National Bank, Bank of Baroda, Bank of India,ICICI Bank, Kotak Mahindra Bank and IDFC First Bank, among others attended the meeting, according to sources.

PM Modi says Indian economy based on sound fundamentals, will soon reach $5 trillion

Prime Minister Narendra Modi on Thursday said the Indian economy is based on sound fundamentals and will in the near future double in size to $5 trillion, as he hardsold the country as a "land of opportunities" to investors in South Korea. Modi said hard policy decisions such as the introduction of the Goods and Services Tax (GST) and opening up of more sectors has helped India jump 65 places on the World Bank's Ease of Doing Business ranking to the 77th position.

EPF interest rate hiked to 8.65%; move to benefit 6 crore provident fund subscribers

Much to the delight of salaried employees, the Employees' Provident Fund Organization (EPFO) Thursday hiked the Employees' Provident Fund (EPF) rate by 0.10 per cent to 8.65 per cent for 2018-19 from 8.55 per cent last year. The rate has been hiked for the first time since 2016.  The move to increase the EPF interest rate is set to benefit six crore EPFO subscribers.

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