Browsing Tag
economic crisis
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Indian consignment of 40,000 metric tonnes of petrol reaches Sri Lanka
The latest gesture of help come days after India sent 40,000 metric tonnes of diesel under its line of credit to help deal with the severe fuel shortage in its debt-ridden neighbour.
‘Without Correct Government Support, Protests seen in Sri Lanka could be repeated in Other Nations’
The IMF chief said support needs to be provided "in a very targeted manner, preferably by providing subsidies directly to people".
Wickremesinghe, in sixth PM stint, assures end to Sri Lanka’s economic crisis
Wickremesinghe had not ruled for a complete five year term in any of his previous tenures as PM.
China assures help to solve urgent economic crisis: Sri Lankan PM Mahinda Rajapaksa
The Sri Lankan Prime Minister's Office said the Chinese Premier made this comment in a phone conversation with Rajapaksa on Friday.
The situation in Sri Lanka will happen in India too: Chidambaram
Chidambaram warned that if the Indian government continued to pursue these misguided policies, the situation in Sri Lanka would be at stake.
Sri Lankan govt ready for discussion with protesters: PM
President Gotabaya Rajapaksa will not resign under any circumstances, Chief Government Whip Johnston Fernando told the parliament recently.
Street fights have dangerous ends, Sri Lankan PM tells protesters
He announced the decision to withdraw complete organic agriculture introduced by President Gotabaya and said chemical fertiliser subsidies would be provided to the farmers.
Sri Lankan President revokes State of Emergency
The revocation of the gazette assumes significance as the ruling coalition appeared to have lost its majority,
Pressured by continuing public protests, Sri Lankan cabinet resigns
The country was forced to urge for financial assistance from neighbouring countries mainly to supply essentials like fuel, power, liquified petroleum gas and food.
With 40,000 MT fuel from India, Sri Lanka looks to reduce power cut from 13 hrs to 2 hrs
Sri Lanka's Energy Minister Gamini Lokuge, who visited the harbour to welcome the shipment, thanked India for helping at a critical moment.
Economic recovery widened in Q2FY22 as Covid second wave abated: ICRA
The ICRA noted that continued base normalisation, emerging supply-side constraints and excess rainfall dampened the year-on-year (YoY) performance of most of the high frequency indicators in September 2021.
Future govt should remove Plaque on Central Vista: Kapil Sibal
The Congress has been attacking the government over mishandling of the pandemic and not heeding to the advise of ex-PM Manmohan Singh, party president Sonia Gandhi and the opposition parties.
Economy to grow only 0.3% in 2 years as India enters first technical recession
Due to a weaker-than-expected 2QFY21, we revise down our 3QFY21 and 4QFY21 growth forecasts.
Indian economy may be recovering faster than anticipated: Oxford Economics
Moody's Investors Service has also revised upwards its GDP forecast for India to (-) 8.9 per cent contraction in the 2020 calendar year
Economy not circus lion that responds to ringmaster’s stick: Chidambaram
Chidambaram said the economy was largely determined by the market, by the laws of demand and supply, and by the purchasing power and the sentiments of the people, which are missing currently
Too Little Too Late: Stimulus likely to give marginal boost
“The impact of the schemes intended to spur consumer and capital spending may turn out to be fairly modest,” Aditi Nayar, Principal Economist said.
India needs to sustain reforms to stem economic slowdown : World Bank
The pandemic has also brought to the forefront new economic opportunities where digital technologies can play an essential role, providing new growth levers for South Asian countries, including India.
‘Economic disruption to deter RBI from quantifying FY21 growth forecast’
The RBI’s MPC (Monetary Policy Committee) is expected to release its resolution on the monetary policy after their meet on September 29 to October 1, 2020.
Rahul Gandhi says youth will observe ‘National Unemployment Day’ today amid job crisis
Congress leader Rahul Gandhi has hit out at the Centre over the growing rate of unemployment in India amid the economic crisis and said the youth will observe ‘National Unemployment Day’ on Thursday, September 17.
Increase infra spending to revive economy: P Chidambaram
P Chidambaram has advised the government to increase spending in infrastructure to revive the Indian economy, as the GDP has contracted by 23.9 per cent in the first quarter of the 2020-21 fiscal
GDP numbers exposed Modi govt’s fake narrative: P Chidambaram
Former Finance Minister P Chidambaram said it will take many months before the economy turns the corner and registers positive growth.
‘India’s economy faces increased risk of stagflation’
“Clearly, the risks of a stagflationary environment has increased in the case of India and may be a socio-economic challenge, if not addressed early.”
Rahul Gandhi cites revelations in books by ex-RBI top guns ‘Query to PM on defaulters’
Former RBI governor Urjit Patel has revealed that his relations with the govt strained because of the dilution of the Insolvency and Bankruptcy Code
74% professionals think their businesses will emerge stronger: Cisco
From 1:1 meetings and group brainstorming to real-time creative iterations and document sharing, Cisco Webex has built-in, end-to-end security that inspires trust.
RBI to conduct special ”Open Market Operations” to pump up liquidity
The operation is likened to the Federal Reserve's ''operational twist'' -- which involved swapping short-term treasury securities for long-term government debts conducted in 2011-12.
Congress to start MOJO campaign to highlight people’s sufferings
According to the feedback received at the social media department of AICC, over 57 lakh people have posted live videos, which has reached up to 10 crore people.
Moody’s has rated Modi’s handling of India’s economy step above junk: Rahul
It also downgraded India''s local-currency senior unsecured rating to Baa3 from Baa2, and its short-term local-currency rating to P-3 from P-2.
PM rating remains unaffected despite Covid, economic crisis
New Delhi, June 2 : The images of hapless migrant labourers walking long distances to get back to…
Road ahead is a long one, says Modi on COVID-19 fight
New Delhi, May 31 : Prime Minister Narendra Modi on Sunday said that even though curbs have been…
FM unveils Rs 10K cr scheme to formalise micro food enterprises
The announcements are part of the third tranche of the Rs 20 lakh crore economic package announced by Prime Minister Narendra Modi on Tuesday.
Maharashtra ex-CM Prithviraj Chavan: Borrow gold from religious trusts for public benefit
"As per the WGC, the gold is worth around Rs 75 lakh crore. When the country needs it, it must be used," said Chavan in his series of tweets.
Necessary steps, but doubts over implementation, effectiveness: Economists
He noted that some measure will be "quite effective" while others such as the Rs 50,000 crore "Fund of Funds" for MSMEs may not yield the intended results.
Awareness of disease’s path needed before lifting lockdown, Abhijit Banerjee tells Rahul Gandhi
Delhi: Congress leader Rahul Gandhi is holding a live video chat with Nobel Laureate Abhijit Banerjee on dealing…
COVID-19: IMF, World Bank urge countries to keep trade open
As the global economy is on track to shrink "sharply" by 3 percent this year due to the pandemic, the IMF chief economist highlighted the importance of keeping trade open in global recovery.
FM at IMF panel meet: Members briefed on corona crisis
The discussions at the meeting were based on IMF Managing Director's Global Policy Agenda titled, 'Exceptional Times - Exceptional Action'.
16.8mn Americans seek unemployment aid amid pandemic
Hicks said job losses will propel the US unemployment rate over 15 per cent by the end of April, and "perhaps higher in later months".
Goldman Sachs halves India’s FY21 GDP growth to 1.6%
The report, however, said that a strong sequential recovery in the second half of the fiscal year is expected based on three assumptions.
Global economy could shrink by 1% in 2020 due to COVID-19 pandemic
United Nations, April 2 : The global economy could shrink by up to 1 per cent in 2020…
Downhill: Indian equities to be under pressure as COVID-19 spreads
Mumbai, March 22 : The key Indian equity markets — S&P BSE Sensex and NSE Nifty50 — might…
Come out from fascination of rating agencies: Rahul to PM
"I am not concerned about what they say but the Prime Minister should come out and do something but the Prime Minister has put his head in the sand and is not willing to accept the problem."
BJP MP Virendra Singh Mast links recession to coats, jackets
The Congress and other opposition parties have been accusing the BJP government of 'complete mismanagement' of the economy.
Govt has no money to spend; masking crisis with numbers: PC
He compared the government's assurance on economy with that of "an astrologer who tells his client that fortune would turn after certain planets move from one House to the other."
Fiscal deficit for FY20 at 3.8%: FM Sitharaman
Last August, the government cut corporate taxes to 22.5% which cost the exchequer Rs 1.45 lakh crore.
Post 5% GDP growth estimate, India Inc seeks fiscal stimulus
On Tuesday, the Central Statistics Office (CSO) pegged the 2019-20 growth at an 11 year low of 5 per cent.
Modi Govt busy with divisive policies: Congress
"The Congress is fighting against the anti-people policies of the government over the issues of economic slowdown, high unemployment rate and farm distress."
Indian economy in ‘state of doom and gloom’: Mamata
Kolkata, Dec 5 : With the GDP projections revised downwards, West Bengal Chief Minister Mamata Banerjee on Thursday…
Chidambaram urges Congress to lead Oppn in Parliament to expose Modi over economic mess
New Delhi, Nov 18 As the winter session of Parliament begins, senior Congress leader P. Chidambaram on Monday…
‘Modi has given up on economy, roped in former PM for help’
Panaji, Nov 14 : Lashing out at Prime Minister Narendra Modi, Goa Congress president Girish Chodankar on Thursday…
‘Traditional wholesale lost half its revenue share post DeMo, GST’
Mumbai, Nov 13 : A report on consumer goods distribution channels has revealed that while modern trade and…
Rupee tumbles 63 paise, falls to Rs 72 per dollar
Mumbai, Nov 13 : The domestic currency ended sharply lower on Wednesday over weak macro numbers and soft…
Report says 2QFY20 GDP growth may slip to 4.7%
Mumbai, Nov 12 : Even as the government continues to stress that economic slowdown is cyclical in nature…
Deep in the red: India’s Sep industrial output shrinks 4.3%
"The cumulative growth for the period April-September 2019 over the corresponding period of the previous year stands at 1.3 per cent."
Cognizant to cut 7000 mid-senior level jobs, exit content moderation
“The gross reduction is expected to lead to a net reduction of approximately 5,000 to 7,000 roles (about 2% of the company’s total population),”
Amazon earnings fall for first time in two years
The retail giant's Cloud arm Amazon Web Services (AWS) reported revenue of $9 billion and operating income of $2.26 billion, 71.6 per cent of Amazon's total operating profit.
Improve economy, don’t create circus, Priyanka tells govt
"You all know what his understanding is. His thinking is totally Left-leaning. He had praised the NYAY scheme effusively, but the people of India totally rejected his thinking."
‘BJP’s majoritarianism crippled Indian economy’
The Congress has also launched attack on the BJP. It raised the issue of PMC bank depositor's death.
Congress to target economy, unemployment in Maharashtra, Haryana
New Delhi, Oct 5 : The Congress, which is aiming to wrest power from the BJP in Maharashtra…
No liquidity crisis, demand to pick up: Nirmala Sitharaman
Addressing the media after the meeting, Sitharaman evinced hope that demand would return in most of the sectors.
Are Kashmiris lesser humans, where is your humanity, asks Iltija Mufti
"We have arrived at crossroads in the history of J&K when this will now largely be a people's movement"
After tax cuts, GST Council reduces rates on various items
The key sectors which would benefit from GST rate cuts are hotels, gems & jewellery, defence and automobiles.
Nil GST rate on hotel room rent upto Rs 1k
GST council meeting Live updates: All eyes are on GST council's meeting in Goa after the government announced slashing corporate taxes.
Risk weight cut on consumer loan is credit negative: Moody’s
"The reduction is credit negative as it will encourage banks to increase their exposure to this loan segment at a time when credit risks are already increasing from a slowing economy," it said.
India to become $10 trillion economy by 2030-32: Rajnath
New Delhi, Sep 17 : Defence Minister Rajnath Singh said in New Delhi on Tuesday that the goal…
Chennai businesswoman Reeta Lankalingam found hanging
Chennai, Sep 12 : City-based businesswoman Reeta Lankalingam, who was Joint Managing Director of the Lanson Toyota car…
Centre’s flawed policies have caused slowdown: Manmohan
"Manmohan Singh told party leaders that when the economic recession had hit the global economy, our government was able to revive the economy, while the current government's flawed policies on the economy is the reason for the slowdown."
Why BJP govt is so confused over economy: Priyanka Gandhi
New Delhi, Sep 12 : Congress General Secretary Priyanka Gandhi Vadra on Thursday took a swipe at Union…
Congress taunts Sitharaman’s ‘Ola, Uber’ comment
Singhvi said, Sitharaman also said that a dip in gross domestic product (GDP) is part of growth. "It implies that the dip in GDP has become the new normal for the BJP,"
PM trying to divert attention from real issues: Owaisi
Owaisi was reacting to Modi's remarks made at the launch of a disease prevention programme for livestock at Mathura in Uttar Pradesh earlier in the day.
Why Modi silent after having ruined the economy : Priyanka Gandhi
New Delhi, Sep 8: Congress General Secretary Priyanka Gandhi on Sunday said the Narendra Modi government remains silent…
Indian Economy is in deep crisis
India is witnessing overall economic slowdown but the Modi government remains in denial and this is for the…
FM announces slew of governance reforms for PSBs
New Delhi, Aug 30 (IANS) After announcing four big-ticket mergers of state-run banks on Friday, Finance Minister Nirmala…
RBI balance-sheet in FY19 up 13.4% to Rs 41 lakh cr
On the liability side, the increase was due to increase in Notes issued, other Liabilities and Provisions, and Deposits by 13.43 per cent, 11.10 per cent and 17.21 per cent, respectively.
Authorities don’t have to overreach, tax targets achievable: FM
New Delhi, Aug 23 (IANS) Responding to India Inc’s calls for measures to curb “tax terrorism”, Finance Minister…
Finance Minister outlines plan to curb ‘tax terrorism’
On violation of corporate social responsibility norms, the Minister said that such violations would not be treated as criminal offences.
Economic crisis due to failed Modi govt policies: Congress
New Delhi, Aug 14 : Taking a swipe at the Narendra Modi government, the Congress here on Wednesday…
Erdogan fires central bank chief amid economic crisis
Ankara, July 6 (IANS) Turkish President Recep Tayyip Erdogan has fired the Central Bank’s Governor without giving an…
Global unemployment rate falls to 5%, hits pre-crisis levels
Geneva, Feb 13 (IANS) Global unemployment levels fell one percentile to a steady 5 per cent in 2018,…
China says will surely help Pakistan in financial crisis
Khan, who met Chinese President Xi Jinping on Friday, is understood to have sought financial help for Pakistan which is in dire straits due to the ballooning foreign debt.
Government takes IL&FS to NCLT; seeks dismissal of Board
Mumbai, Oct 1 : Facing mounting criticism from the Congress party, the Central government has moved the top…
Rahul Gandhi attacks PM Modi over IL&FS issue
New Delhi, Sep 30 :The Congress on Sunday stepped up its attack on the Central government, with party…
$11 bn pledged at Lebanon donor conference: Macron
By midday, they had received commitments amounting to $2.6 billion with more expected to follow throughout the day, much of it to be spent on upgrading Lebanon's creaking infrastructure.
Protesters face off against security forces in Iraqi Kurdistan for 4th day
Hundreds of protesters faced off with security forces in Iraqi Kurdistan for a fourth day Thursday, demanding the…
Except for demonetisation, Modi government has no original move: Congress
New Delhi, Sep 20 : Alleging that the Modi government has rehashed, repackaged and renamed 23 schemes which…
India looking at economic crisis, says Congress
The Congress slammed the Narendra Modi government over its economic performance in the past 20 months, saying demand…