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economy
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BJP heading for ‘India Shining’ fiasco in 2024 due to failing economy, illegal Chinese occupation: Subramanian Swamy
When one user shared a news report which said that India’s unemployment problem had surged to 7.83 per cent in April, Swamy replied “Master Stroke? Or just common man getting a stroke?”
India retains top spot as fastest-growing major economy: UN report
China, which ranks as the second-fastest growing large economy, is forecast to grow by 4.5 per cent this year and 5.2 per cent next year.
Economic, political crises puts Pakistani rupee under pressure as it breaches 200-mark
Karachi, May 20 : The US dollar has been on a one-way path — upwards — against the…
Bangladesh: Sheikh Hasina orders to maintain a risk-free foreign debt limit
Dhaka, April 13 : Sheikh Hasina on Tuesday directed all concerned to take necessary measures so that Bangladesh…
‘This Budget forward looking, has vision for India at 100’: Sitharaman
Over Rs seven lakh crore is being spent on infrastructure and this will also create jobs, she added.
Modi government for the rich; budget should focus on reducing widening income gap: Congress
He cited a news report that claimed that incomes of the poor reduced by 53 per cent while that of the rich increased during Covid times.
India’s Overall Economic Activity remains Strong despite Third Wave: RBI Bulletin
Besides, the RBI said that manufacturing and several categories of services remain in expansion mode.
Global Economy projected to grow by 4% in 2022, 3.5% in 2023: UN report
With the highly transmissible Omicron variant of Covid-19 unleashing new waves of infections, the human and economic tolls of the pandemic are projected to increase again.
Startups can help rural economy go digital: Piyush Goyal
The minister on the occasion unveiled 'LEAP' -- Leverage, Encourage, Access and Promote -- as the way forward for startups
World Bank projects India’s GDP growth at 8.3% for FY22, 8.7% for FY23
The World Bank's projection for the current fiscal is lower than the Indian government's first advance estimate, as per which the GDP will likely grow by 9.2 percent.
Is Erdogan the real cause of Turkey’s currency crisis and economic woes?
Small wonder, his theory that cheap money automatically leads to higher consumption, rise in exports and economic activities is turning out to be flawed.
India should focus on supply through reforms: K.V. Subramanian
The Presidential address was by Dr. Shankar Acharya, Former Chief Economic Adviser and author of An Economist at Home and Abroad.
Diwali resolution we need in Covid times for a breathable future
Recent statistics reveal that 11 of the 20 most polluted cities globally are in India; no wonder the number of air pollution induced-deaths amount to 2 million in this part of the world.
Afghanistan Currency Losing Value, Causing Price Rise
Kabul residents urged Afghanistan's central bank to take steps to control the currency markets and to pave the way for more robust business.
Economy healing but still digging out of deep economic contraction: RBI
"The time is right for setting India on a new trajectory of sustainable and inclusive growth. After all, October marks the ending and beginning of things, a symphony of permanence and change."
India’s Economy is expected to grow by 8.3 per cent this Fiscal Year: World Bank
"The Production-Linked Incentives scheme to boost manufacturing, and a planned increase in public investment, should support domestic demand," it said.
Growth Stance: MPC to hold rates despite excess liquidity
In addition, the RBI had carried out GSAP operations of Rs 25,000 crore each in two more instalments, alongside an OMO sale operation.
Continued Policy Support from all sides needed for growth: RBI Guv Shaktikanta Das
To continue with its growth supporting stance, the RBI has retained its key short-term lending rates during the third monetary policy review of FY22.
India’s forex reserves rise by over $6 billion
However, the value of the country's gold reserves dropped by $502 million to $37.604 billion.
Pakistan-China ties growing day by day: Imran Khan
The K-2 is the first foreign nuclear power unit using Hualong One, a Chinese domestically designed third-generation reactor that has a design life of 60 years.
Second COVID-19 surge will delay earnings recovery for Indian companies : Moody’s
"Demand for IT and telecommunication services will remain strong despite our expectation of a slowdown in economic activity over the next few months."
Lockdown will lead to Collapse of Economy, says Telangana CM
KCR, as Rao is popularly known, spoke to Prime Minister Narendra Modi over phone and urged him to supply the required vaccines, oxygen and Remdesivir to the state.
Wholesale price-based inflation spikes to over eight-year high of 7.39 per cent in March
Inflation in the fuel and power basket was 10.25 per cent in March, against 0.58 per cent in February, mainly on account of rising prices of petrol and diesel.
Twitter reacts after govt withdraws decision to lower small savings rate
The interest rate on Public Provident Fund was lowered from 7.1% to 6.4%, and that on National Savings Certificates from 6.8% to 5.9% for the June quarter. The order was later withdrawn
GST Collections at record high of Rs 1.23 lakh crore in March
'A steep increasing trend over this period are clear indicators of rapid economic recovery post pandemic,' the Finance Ministry said.
You’ve been in power for 6 years, no more excuses: Kapil Sibal slams Centre
He said 120 million jobs were lost due to Covid-19 pandemic but the allocation for MNREGA has been reduced.
India’s foreign exchange reserves swell by over $4.8 billion
On a weekly basis, FCAs, the largest component of the forex reserves, edged higher by $5.026 billion to $547.218 billion.
Budget 2021-22 will fail to curb inflation
However, 14.8 per cent people said they "don't know or can't say" if this Budget will help in bringing down inflation.
Healthcare sector revenues likely to grow by 20% in FY22: ICRA
he risks to the recovery could be in the form of additional regulatory measures, protracted restrictions on international travel and jump in Covid-19 cases”.
Excise duty collection surges 48% in FY21 on high fuel levies
The total excise duty in the last financial year was over Rs 2.39 lakh crore.
RBI remains ‘steadfast’ to take necessary steps to support economy: Guv
The RBI Governor's statement gains significance as the Indian stock market has surged amid the pandemic and scaled new highs in the past one month, raising concerns of stretched valuations.
Fitch says India’s GDP to expand by 11% in FY22
It added that India's medium-term growth to slow to around 6.5 per cent after the initial rebound.
Covid-19 can result in balance sheet impairments, maintaining banking sector’s health policy priority, says RBI Governor
Reserve Bank of India (RBI) governor Shaktikanta Das on Monday released the Financial Stability Report 2021 which highlighted…
Rupee Effect: Stable currency retains FIIs’ interest in India
It is a well-established fact that FIIs’ money has powered the recent rally in India’s stock markets.
India’s Apr-Nov fiscal deficit at over 135% of budgeted target
“Higher fiscal deficit is primarily originating from lower receipts. Ind-Ra expects FY21 central government fiscal deficit to come in at 7 per cent of GDP.”
Currency Watch: Rupee to end 2020 on a bullish note
“A break of 74.50 will open doors for 75.25 and then 76.30. While a break of 72.75 will push the spot price to 71.50-72.00 zone.”
Govt ready to discuss all issues with farmers: PM Narendra Modi
He also targeted some political parties for latching on to the farmers’ protests, and said: “They are trying to disturb the economy of the country and also giving nightmares to the people of Delhi.
India’s GDP contraction expected to narrow down: SBI Ecowrap
New Delhi: India’s GDP contraction due to the impact of Covid pandemic is expected to narrow down to…
FM reviews implementation of AatmaNirbhar Bharat package with secys
New Delhi, Dec 13 : Banks have sanctioned additional credit amounting to Rs 2,05,563 crore to 80,93,491 borrowers…
Rupee Soars 30 Paise To End At 73.60 Against US Dollar
At the interbank forex market, the domestic unit opened at 73.83 against the US dollar and witnessed an intra-day high of 73.59 and a low of 73.83.
‘Economic recovery from next year itself’, says FM Nirmala Sitharaman
India can see a proper recovery next year on the back of positivity and confidence due to Covid-19 vaccines, Union finance minister Nirmala Sitharaman said on Friday, arguing that steady growth and capacity expansion in the past two months had pulled the economy out of its pandemic trough.
Indian Navy day: Focus on safeguarding sea lanes to boost trade
Stressing jointness, he said that The Navy's P-8I maritime surveillance aircraft and Heron unmanned aerial vehicles had been deployed in the Ladakh sector bordering China following requests from the Army and Air Force.
RBI to come up with guidelines for dividend distribution by NBFCs
RBI has decided to carry out consultation with stakeholders before finalising the revised regulatory framework.
“PM Needs To Understand…”: Rahul Gandhi On Recession
The centre is expecting the recent easing of farm and labour laws, along with tax incentives, to bolster manufacturing and lure more foreign investment.
Proposal to allow corporate houses to set up banks a ‘bombshell’: Rajan, Acharya
They also said that the proposal is "best left on the shelf".
‘The only slowdown’: Biden slams Trump in town hall with frontline workers
During the conversation, Biden promised to make funding for local and state governments a priority after Trump leaves office.
After life time highs achieved expect consolidation – Market Watch
Markets continued to gain ground and make new life-time highs on the benchmark indices. BSESENSEX gained 1,549.94 points…
China, 14 Asian nations sign world’s biggest trade deal, India withdrew last year
In addition to the 10 ASEAN nations, the accord includes China, Japan, South Korea, Australia and New Zealand, but not the US.
India’s Oct merchandise exports fall by over 5%
“As the economic recovery strengthens, we expect the current account surplus to decline substantially in Q3 FY2021, from the $20 billion recorded in Q1 FY2021 and the $12-14 billion expected for Q2 FY2021.”
‘Turned India’s strength into weakness’: Rahul Gandhi attacks PM Modi over RBI report on recession
The Indian economy likely entered into a technical recession for the first time in history at the end of the first half of 2020-21, according to the Reserve Bank of India.
Finance Ministry approves MEIS allocation of Rs 39K cr for FY20
New Delhi, Nov 12: The Finance Ministry has approved the allocation of Rs 39,097 crore under the Merchandise…
Demonetisation “Destroyed” Economy, Helped Few Crony Capitalists: Rahul Gandhi
On November 8, 2016, Prime Minister Modi announced the decision to ban all currency notes of higher denomination of ₹ 500 and ₹ 1,000 from midnight.
GST monthly collection crosses Rs 1 lakh crore first time in FY21
GST revenue collections in October 2020 were Rs 1,05,155 crore, crossing the Rs 1 lakh crore mark for the first time after February 2020.
2nd wave: Fears of slower global recovery, US polls to weaken rupee
New Delhi, Oct 31 : Fears of a slower global recovery due to rising cases of Covid-19 infections…
Economy getting back on track faster; big investment, infra push must become driving force for growth: PM Modi
Prime Minister Narendra Modi says India will become a 'global manufacturing hub on its own strengths', adding that he does not believe in 'gaining from the loss of others'.
Street vendors need assistance package, not loans: Priyanka Gandhi
Congress General Secretary Priyanka Gandhi on Tuesday said that street vendors and small traders need a special assistance package and not loans
Market Watch : FII’s inflows to help market register gains
Shares of Vedanta have gained in the past week post the announcement of the meeting for the interim dividend. They gained Rs 9.80, or 10.32% to close the week at Rs 104.80.
India needs to fix domestic issues to win respect abroad, says Tharoor
He said it was important for India to come across to the rest of the world as an example of a thriving and harmonious society.
India’s foreign exchange reserves rises by $3.615 bn
Mumbai: India’s foreign exchange reserves rose $3.615 billion during the week ended October 16. According to the Reserve…
Past policy actions’ transmission to help ease conditions, RBI Guv in MPC meet
“As supply chains adapt to the new conditions, recovery is expected to be stronger and sustained. To achieve this outcome, an accommodative monetary policy is needed at this juncture.”
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
Poorest countries in desperate need of support: World Bank
Discussion of debt reduction is "very important because the poorest countries need light at the end of the tunnel," said World Bank Group President David Malpass.
Citigroup Q3 results beat expectations on less credit losses: JP Morgan
NEW YORK, Oct. 14 : US top-ranking banks J.P. Morgan Chase & Co. and Citigroup Inc. on Tuesday…
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.
Industrial production contracts 8 pc in August; manufacturing, mining weigh
Output of capital goods, which is a barometer of investment, fell by 15.4 per cent in August as against a contraction of 20.9 per cent earlier.
FM announces interest-free 50-year loans to states for capital expenditure of Rs 12,000 crore
The Finance Minister also announced additional capital expenditure of Rs 25,000 crore by the central government.
GST Council to discuss compensation issue for third time in a row today
As many as 21 states -- which are BJP ruled or have supported it on various issues -- have opted to borrow Rs 1.10 lakh crore to meet the compensation shortfall.
LTC cash voucher scheme launched to stimulate economic demand
FM Sitharaman press conference : Finance Ministry launches LTC Cash Voucher Scheme, Special Festival Advance Scheme to boost spending
RBI gives liquidity boost but retains lending rates, gives optimistic outlook
“Additionally, the decision to operationalise the co-origination model is right as it brings the best of banks and NBFCs together. This will surely increase the reach of the financial sector at such a critical point.”
Corporates’ Aug sequential fund mobilisation up 65%: SBI report
“The consumer leverage also declined in August indicating the stress on household balance sheets are now emerging.”
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.
India’s Forex Reserves Decline By Over $3 Billion
Mumbai: India’s foreign exchange reserves plunged by $3.017 billion during the week ended September 25. According to the…
India’s Apr-Aug fiscal deficit at over 109% of budgetary target
The Central government's total expenditure stood at Rs 12.47 lakh crore (41 per cent of BE) while total receipts were Rs 3.77 lakh crore (16.8 per cent of BE).
‘Corporate vultures eying small banks, merge Lakshmi Vilas Bank with govt bank’
Chennai: The Reserve Bank of India (RBI) should take a prompt and correct action of merging the 93-year-old…
Finance Ministry to provide capital support from Rs 20k cr fund to some PSBs in Q3
The fund infusion would be for meeting regulatory capital requirements if the need arises in October-December quarter, sources said
‘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.
Modi destroyed “web of relationships” that Congress built with countries over decades: Rahul Gandhi
"Living in a neighbourhood with no friends is dangerous," former Congress chief Rahul Gandhi said.
FinCEN files: Big banks let $2tn ‘dirty money’ move around world
There have been a number of big leaks of financial information in recent years, including 2017 Paradise Papers. The 2016 Panama Papers – Leaked documents from the law firm Mossack Fonseca showed more about how wealthy people are using offshore tax regimes, the BBC said.
Govt’s stake divestment to be credit negative for PSBs: ICRA
Furthermore, ICRA expects the deposit franchise for these banks will be monitorable as these deposits could be highly sensitive to their ownership.
Covid impacted economy, may see gradual recovery: RBI Governor
Citing World Bank assessment, Das said that recovery globally would take a longer route as it is not fully entrenched.
Supply-side bottlenecks: August retail inflation expected to remain high on Covid impact
India’s consumer food price index during the month under review rose to 9.62 per cent from 8.72 per cent reported for June 2020.
Single stock rallying markets, unnerving – Time to be cautious – Market Watch
The week gone by saw markets jump sharply on Thursday and the gains registered on that day were…
Sachin Pilot Backs Rahul Gandhi As He Slams Modi Government Over Economy
Jaipur: Congress leader Sachin Pilot has said that the issues which have been raised by former party chief…
August inflation numbers could be 7% or above: SBI Ecowrap
New Delhi, Sep 10 : August inflation numbers are expected to be elevated at around 7 per cent…
Of opportunities, creativity and focus in taking businesses forward
New Delhi, Sep 10 : Opportunity favours the prepared mind. Creative, focused individuals who know how to collaborate…
“Promise Was To End Corona In 21 Days, Ended Jobs Instead”: Rahul Gandhi
Congress leader Rahul Gandhi released a new video targeting Prime Minister Narendra Modi for "destroying the unorganised sector" with the "sudden" coronavirus lockdown.
Congress strategy ahead of monsoon session of Parliament to corner govt on china, economy and Covid
Congress strategy ahead of monsoon session of Parliament to corner govt on china, economy and Covid New Delhi,…
Rahul Gandhi attacks Modi Govt on LIC stake sale report
He also stated that the government is selling the nation's assets to compensate the economic crisis created by it.
Home Ministry issues fresh provisions for parole and furlough
The Home Ministry has also advised to include an expert psychologist, criminologist or any correctional administration expert as a member of the sentence review board and in the committee which decides grant of parole and furlough to inmates.
Petrol price rise for 6th consecutive day
Petrol prices have been on the rise for the sixth consecutive day on Tuesday, while diesel held on to its price line that it has maintained since July 30.
‘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.”
India faces military, health & economic threats, govt must restore faith, says Manmohan Singh
In a column for The Hindu, former PM Manmohan Singh advocates significant cash transfers to the poor, better access to capital for firms and autonomy for financial institutions and RBI.
US economy collapsed 32.9 percent Q2 amid pandemic: government
The US economy shrank 9.5 percent from April through June, the largest quarterly decline since the government began…
Extreme risk aversion to have adverse outcomes: Governor Shaktikanta Das
The Governor also said that currently there is growing disconnect between the movements in certain segments of financial markets and real sector activity.
Raghuram Rajan: Govt focussed on ‘majoritarian objectives rather than repairing impaired economy’
Raghuram Rajan argued that providing resources for relief and repair is going to be very important and what India has done so far in terms of fiscal support is not adequate when compared with many other economies.
Never been a better time to invest in India: PM Modi
In addition, the Prime Minister said that the US and India are natural partners as both are vibrant democracies with shared values.
With July futures expiring this week, rally to continue
Markets began the week on a quiet note and at the end of Tuesday it appeared as if…
Downgrading credit rating amid pandemic limits policy options: FM Sitharaman
In the second session of the meeting, the G20 Finance Ministers and central bank Governors discussed the developments on G20 Finance Track deliverables under the Saudi Arabian Presidency.
US stocks end mixed amid earnings, coronavirus concerns
Investors also eyed a continued spike in coronavirus infections in the United States.
US dollar rises amid economic data
The US dollar decreased to 0.9448 Swiss franc from 0.9455 Swiss franc, and it was up to 1.3573 Canadian dollars from 1.3508 Canadian dollars.
Study reveals new strategies to control Covid-19 pandemic
London, July 13 : Strategies for the safe reopening of low and middle-income countries (LMICs) in response to…
77% companies face revenue drop amid Covid pandemic: Report
Businesses see challenges with regards to demand, liquidity and availability of finance with MSMEs being the hardest hit amongst all, the survey found.
Range-bound: Rupee caught between higher inflows, swelling reserves
Mumbai, July 11 : The Indian rupee has been caught in a flux of higher FDI inflows and…
Economy showing signs of getting back to normalcy: RBI Governor Shaktikanta Das
"Indian economy has started showing signs of going back to normalcy after easing of restrictions," Governor Das said at the 7th SBI Banking and Economics Conclave.
US dollar weakened amid economic data
Flash US Services Business Activity Index registered 46.7 in June while the Manufacturing PMI came in at 49.6, showed the report. A reading below 50 indicates contraction in the sector.
Richa Chadha asks if all world leaders are cowards
"Wonder if people will even be motivated to join the forces anymore," Richa wrote in a separate tweet ,replying to a user.
Are IIP numbers locked away in a safe, asks P Chidambaram
"Will the government lock up the IIP numbers in a safe vault to be opened only after 20 years? questioned the former finance minister.
Petrol, diesel prices rise for sixth consecutive day
New Delhi: Fuel prices were hiked for the sixth consecutive day since oil companies restarted revising prices in line with costs, after ending an 82-day hiatus. While petrol price was hiked by 57 pais
Ahmed Patel snubs Guha for comparing Gujarat with Bengal
"From Kutch to Vapi & from Shyamlaji to Dwarka, Gujarat''s culture is built on striking diversity but united through indomitable entrepreneurial spirit," added Patel.
Government is poor it needs money: P Chidambaram
In a bid to increase revenues during the nationwide lockdown, several state governments raised taxes imposed on transportation fuel.
Will initiate more reforms to get growth back: PM
Speaking about the Aatmanirbhar Bharat economic package, he said that it would work as growth fuel for the MSME sector.
Government has no choice, must listen to wise counsel: Chidambaram
The Congress has been demanding cash transfer directly to the people's account to the tune of Rs 65,000 crore.
Modi govt insincere towards people, eco package a rude shock: Kharge
He also said that the government lost a big opportunity to provide relief to the crores of migrant workers and the poor on one hand, and the industries on the other.
Reliance Retail’s success in JioMart could change industry dynamics: Jefferies
RRL is also building B2B presence, while an important aspect of its B2C strategy, retailer has an option to even sell in the offline
Centre releases Rs 6K cr to assist 14 states with Covid-19 fight
Of the 14 states, the maximum grant-in-aid for May has gone to Kerala that has been given an amount of 1,277 crore followed by Himachal Pradesh with revenue deficit grant of Rs 953 crore.
Centre issues guidelines for manufacturing units post lockdown
The guidelines were issued on Saturday to all Chief Secretaries and administrators of Union Territories (UTs) as the 14-day lockdown 3.0 is on and will end on May 17.
Punjab CM pegs April revenue shortfall at 88%
The Chief Minister said around 20,000 international travellers were expected to return to Punjab in three-four weeks, in addition to around 12,000 who had registered in other states for coming back.
Rahul to talk COVID-19 with Nobel laureate Abhijit Banerjee
Last week Rahul Gandhi talked with former RBI Governor Raghuram Rajan in which Rajan suggested that Rs 65,000 crore is needed to help the poor in the country.
Manmohan to assist Punjab to revive post-Covid state economy
Chandigarh, April 27 (IANS) Former Prime Minister Manmohan Singh will assist the Congress government in Punjab to revive…
Post-COVID19 consumer culture leaning towards ‘counterintuitive’ shifts: Research
Companies which choose to ignore these early signals in the next 12-18 months will be the story of missed opportunities, says Arkalgud.
US dollar climbs amid risk-averse sentiment
The U.S. dollar rose to 0.9699 Swiss franc from 0.9678 Swiss franc, and it increased to 1.4199 Canadian dollars from 1.4133 Canadian dollars.
Trump pledges to support oil, gas industries amid oil futures crash
The oil and gas industries have seen a historic sell-off amid the coronavirus pandemic. Almost 40 per cent of US oil and natural gas producers face insolvency within the year if crude prices remain near $30 a barrel, according to a recent survey by the Federal Reserve Bank of Kansas City.
UK economy could suffer deepest recession in a century
The UK has so far reported 115,314 confirmed coronavirus cases, with 15,498 deaths.
Cash is king as US quarterly reporting season gains steam
With little clarity on when the U.S. economy will reopen, companies of all sizes have been bracing for months of limited revenues.
Delhi ranks highest on COVID-19 cases per million: DBS Group Research
According to the report incoming data reinforce slowdown risks. Railway freight, sentiment surveys, price data, mobility etc. points to discretionary demand and businesses running below trend.
Liquor shops, warehouses to reopen in Assam, Meghalaya for few hours
Guwahati/Shillong, April 12 : All liquor shops and wholesale warehouses in Assam and Meghalaya will open from Monday…
NAREDCO seeks $200 bn relief for the entire economy
"Since real estate accounts for 6-7 per cent of India's GDP and employs nearly 10-11 per cent of population, we urge the government to focus on the demand of the developers."
US stocks end lower as market momentum evaporates
New York, April 8 : US equities surrendered their earlier gains to finish lower as market momentum eased…
Cash is King – Conserve Cash
When this better time would come is yet another dilemma. I believe that in about 4 to 6 weeks' time the world would have come out of COVID-19 and we would be in a better frame of mind. Till then follow the old adage -- CASH IS KING.
Markets hint to recovery in the coming week
A week can be a very long time and last week was a classic example. It began with…
Two catalysts which have changed India and US for good
What will the world look like after the coronavirus induced shut down? I am not in possession of…
Wall Street tumbles after US tops world in COVID-19 cases
A shocking number of Americans applied for jobless benefits last week due to the coronavirus outbreak.
Is global recession likely in 2020?
A recession is a macroeconomic term that refers to a significant decline in general economic activity in a…
Rahul says India will pay heavy price for govt’s inability
On March 13, he added that he will keep repeating the statement adding that the government is in "a stupor".
No SBI share in Yes Bank to be sold for next 3 years: SBI Chairman
Mumbai, March 17 : State Bank of India Chairman Rajnish Kumar on Tuesday said that the state-run bank…
No impact on Indian economy due to COVID-19: Anurag Thakur
With regard to domestic availability of fertilizers, the impact of COVID-19 seems to be negligible at this juncture, the minister said.
Duty up on petrol & diesel; consumers may be spared from big price hike
Additionally, road and infrastructure cess on the two products has also been raised by Rs 1 per litre to Rs 10 per litre, effectively increasing the central duty on petrol and diesel to Rs 3 per litre. The new rates are effective from March 14.
Coronavirus will bring down global economic growth to just 1.4%
"In this event, the global growth could drop to 1.5 per cent in 2020, half the rate projected prior to the coronavirus outbreak," the report said.
Coronavirus: Take strong action, govt in stupor, says Rahul
New Delhi, March 13 (IANS) Congress leader Rahul Gandhi on Friday reiterated that novel coronavirus was a huge…
PM clueless about coronavirus, economy: Rahul Gandhi
On the Yes Bank crisis, Gandhi said during the Manmohan Singh regime when the country faced economic slowdown, the informal economy protected people.
Yes Bank founder Rana Kapoor, wife, daughters floated shell cos to get kickbacks
"Kapoor and his family members, including his wife Bindu and three daughters, had set up more than 20 shell companies that were allegedly used to receive kickbacks."
Indian rupee plunges 46 paise to 73.79 against dollar
Mumbai: Indian rupee plunges 46 paise to 73.79 against dollar amid mounting concerns over coronavirus. Stocks plummeting 3…
Yes Bank customers in Delhi, NCR feel the heat
Many agitated customers confronted the Yes Bank officials by comparing the crisis to the Punjab & Maharashtra Cooperative Bank imbroglio which erupted last September.
Nifty ends below 11K, Sensex recovers 565 pts from day’s low; Yes Bank falls 55%
Sensex down by 893.99 points, currently at 37,576.62. Nifty at 10,989.45, down by 279.55 points
Former SBI CFO Prashant Kumar named administrator of Yes Bank
Prashant Kumar, ex-DMD & CFO of SBI appointed as the administrator.
RBI Takes Over Yes Bank Board, Caps Withdrawals At Rs 50,000
New Delhi: The government on Thursday, issued an order of moratorium staying the “commencement or continuance of all…
First scam-hit company of Nirav Modi ordered to be liquidated
The ruling to liquidate Modi's scam-scarred company FDIPL was delivered last week by a Mumbai NCLT bench comprising (Mrs) Suchitra Kanuparthi (Member-Judicial) and V. Nallasenapathy (Member-Technical).
Congress attacks Centre over economy
He also raised concerns about the manufacturing sector saying it is in the negative. "This section provides jobs, and such performances are dismal.
Priyanka Gandhi slams govt on rising unemployment
New Delhi, Feb 28 : Congress General Secretary Priyanka Gandhi on Friday slammed the government for diverting attention…
Black Friday: Sensex loses 1,448 pts ahead of GDP data
Besides, the futures markets pointed at no near-term relief for investors. FTSE 100 Index Futures pointed at a rough start. The index was down 3.44 per cent, NASDAQ 100 Future also traded lower by 1.29 per cent.
All pending MSME loans to be restructured by March 15: FM Sitharaman
New Delhi, Feb 26 : Finance Minister Nirmala Sitharaman said a total 5.53 lakh MSME accounts have been…
Markets open in red on Wednesday
Mumbai, Feb 26 The 30-scrip Sensitive Index (Sensex) on Wednesday opened on a negative note during the morning…
Bank credit growth may rise 200-300 bps next fiscal: Crisil
Incremental net domestic credit this fiscal up to December 2019 is just a fifth of what it was a year ago.
Fiscal deficit as GDP percentage touched 4.56% in Dec: Finance Ministry data
Out of total government expenditure of Rs 21.09 lakh crore, which is 76 per cent of the BE, revenue expenditure was Rs 18.54 lakh crore and capital expenditure Rs 2.55 lakh crore.
Wishful thinking to target $5 tn economy by 2025: Manmohan
Pathways can emerge only through solid dialogue and discussions on the challenges of taking the country forward, he added.
Montek Singh’s tips to Kamal Nath
Bhopal, Feb 19 : With the Centre’s growing hostility causing a financial crunch Madhya Pradesh government is looking…
India a $5 trillion economy by 2025 unrealistic: Montek Singh Ahluwalia
He also cautions against "strong centralised governments", a scenario that is now unfolding in India.
High food, fuel prices push Jan retail inflation to 7.59%
New Delhi, Feb 12: Higher prices of food items such as vegetables, eggs, meat and fish, along with…
It’s for Sitharaman to put petrol, diesel on GST Council agenda: Amit Mitra
He also asked Sitharaman to bring the matter on the council's agenda if she was interested in bringing petrol and diesel under GST.
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."
AGR dues not included in Budget calculations: DEA Secy
AGR dues payment has not been taken into account in the Budget", and the higher revenue projection in the budget is expected on account of spectrum charges and license fees from telecom operators.
Govt aim should have been to put money in people’s hands: Chidambaram
Chidambaram also said the government finances are under pressure.
Removal of DDT and its financial impact
The companies declaring such dividend will have to now deduct tax at source (TDS) at 10 per cent on the amount distributed as dividend.
Budget fails to cheer market, Sensex down over 1,000 pts; Nifty down 300 pts
The Nifty50 on the National Stock Exchange was trading at 11,881.35, lower by 80.75 points or 0.68 per cent from its previous close.
Budget 2020 Live: Defence budget hiked by 6% to Rs 3.3 lakh crore
Govt to raise funds via listing of LIC; Deposit insurance raised to Rs 5 lakh; FY21 fiscal deficit target pegged at 3.5% of GDP; DDT scrapped; cuts income tax on lower slabs.
Debt ETF with G-sec announced in Budget for more liquidity
The debt market comprises the government securities market and the corporate debt market. G-Secs constitute 79 per cent of the total amount of outstanding bonds in India.
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.
GDP growth over 7.4% in 2014-19, claims FM
New Delhi, Feb 1 Finance Minister Nirmala Sitharaman said Central government’s debt reduced to 48.7% of GDP in…
Fundamentals of economy are strong: FM
New Delhi, Feb 1 Presenting the Union Budget in the Parliament on Saturday, Finance Minister Nrimala Sitharaman said…
Economic Survey has no connection with reality: Congress
"After failure of Modinomics, a new word Thalinomics has been coined while the 'thali' of the common man is empty as the food inflation is at 14.12 per cent," said Vallabh.
Budget, Coronavirus to be key monitorables next week
Mumbai, Jan 26 : The upcoming six-day trading week will keep investors on their toes due to the…
More trouble for economy, direct tax collection in negative zone
New Delhi, Jan 21 : The bad run for the Indian economy continues with the latest victim being…
Sensex ends 205 pts lower after IMF cuts growth forecast
Mumbai, Jan 21 : The benchmark Sensex on Tuesday closed 205 points lower after the International Monetary Fund…
FM Sitharaman may push for Rs 30K cr interim dividend from RBI to meet low revenue generation, slowdown
The government is fighting a six year low growth, subdued demand and consumption leading to projections of 5 per cent growth in current fiscal which is an 11 year drop.
California to enhance ties with India for inclusive economic growth
New Delhi, Jan 15: Eleni Kounalakis, the lieutenant governor of California is on a visit to India to…
Dec auto sales fall by 13%, commercial vehicles down 12%
"Exports witnessed growth of 9.9 per cent to 66,073 units, mainly due to incremental contribution of 6,341 units by Kia Motors, which otherwise could be flattish," he said.
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.
SBI lowers GDP estimates to 4.6% in FY 20 from 5%
This estimate however has a shelf-life of only two months and is only used as an input for budget arithmetic, it added.
RBI focus on financial stability regulations framework: Das
New Delhi, Jan 7 : Reserve Bank of India Governor Shaktikanta Das on Tuesday said the central bank…
CAA-NRC-NPR form RSS-BJP’s plan for Hindu Rashtra: Chidambaram
The former Finance Minister praised the students for being at forefront of the democratic agitation
New Year price hikes give opposition fuel against government
New Delhi, Jan 1 : People of the country, yet to recover from their New Year revelry, woke…
India’s Apr-Nov fiscal deficit at 114.8% of budgetary target
Total receipts comprised Rs 7.50 lakh crore of net tax revenue and Rs 2.32 lakh crore of non-tax revenue receipts.
Slowdown Continues: Nov core sector growth contracts by 1.5%
The eight core industries include coal, crude oil, natural gas, refinery products, fertilisers, steel, cement and electricity.
IL&FS Board expects to recover 50% of overall debt
"Resolution, restructuring and recovery formed the three vital pillars of the strategy adopted by the new board," Kotak said.
Credit growth muted in Sep’19, gross NPA may rise by Sep’20
The RBI, however, said the financial system remains stable despite weakening domestic growth.
Banks’ exposure to sensitive sectors up at 23.5%: RBI
Mumbai, Dec 25 : Banks’ exposure to sensitive sectors that comprise capital market, real estate and commodities edged…
Bharat Bond ETF mops up Rs 12,400 crore on debut offer
New Delhi, Dec 25 : Bharat Bond ETF, India’s first corporate bond ETF, has fetched Rs 12,400 crore…
Mittal urges Goyal for faster clearances, GST refund
New Delhi, Dec 18 : Bharti Group Chairman Sunil Mittal here on Wednesday met Union Commerce and Industry…
Economy trapped in Four Balance Sheet problem: Ex-CEA
New Delhi, Dec 18 : Citing reasons for the “severe illness in the economy”, former Chief Economic Advisor…
Centre consults India Inc to revive industry, economy
This is the slowest GDP growth rate in around six years. The growth on a year-on-year basis during Q2 2018-19 had stood at 7 per cent.
CAA: Kamal Haasan hits out at Centre & TN govt
Chennai: Actor-turned-politician Kamal Haasan on Tuesday questioned the need for the Citizenship (Amendment) Act (CAA) when the economy…
Oppn during UPA years and SC judgments must share responsibility for current economic mess
Government must recognise that fear and enterprise don’t go together. Keep the ED and the CBI at bay and ensure that income tax authorities act within the law. Enterprise alone can help fuel our economy. Otherwise the Ides of March are not far away.
CGST falls short of budget estimate by 40pc in April-Nov
New Delhi, Dec 10 : The Central GST collection fell short of the budged estimate by nearly 40…
Equity flows slip 78 pc in November
New Delhi, Dec 10 : Net inflows into equity mutual funds dipped sharply to multi-year lows in November…
Bharat Bond ETF to open on Dec 12
The immediate CPSE borrowers ETF could be NHAI , Hudco, IRFC , NTPC PGCIL , GAIL, PFC, EXIM Bank and Nabard, said sources.
RBI holding repo rate bodes well for savings: Economists
New Delhi, Dec 6 : Even as many see the RBI’s pause on repo rate as a setback…
Bharat Bond ETF likely to be launched this month
As of now, it will have 2 maturity series -- for 3 and 10 years. Each series will have a separate index of the same maturity. The government had earlier come up with equity ETFs twice; the first one in 2014 and the second in 2017.
RBI booster dose likely to spur India Inc’s animal spirits
Mumbai, Dec 3 : The Reserve Bank of India (RBI) is expected to administer another booster dose of…
Modi govt does not understand pain of people: Rahul Gandhi
Ranchi, Dec 2 : Former Congress president Rahul Gandhi on Monday targeted Prime Minister Narendra Modi, alleging that…
Market Watch – RBI may cut rate by 35-40 basis points
NIFTY made a new lifetime high on Tuesday, November 26, and did so again two days later. Friday…
Who used to mock Manmohan Singh have pushed the economy to recession: Ahmed Patel
New Delhi, Nov 30 : Senior Congress leader and Rajya Sabha MP Ahmed Patel accused the Modi government…
BJP is on decline, says CPI-M leader Brinda Karat
She said the BJP leadership was avoiding the real issues by mixing politics with religion and misguiding the women and common people.
Slowdown dents growth, Q2 GDP growth falls to 4.5%
New Delhi, Nov 29 : Slowdown in manufacturing activity pulled India’s GDP growth rate in second quarter (Q1)…
Opposition attacks Govt over slowdown and job losses, FM says no recession yet
New Delhi, Nov 27 Coming under attack from the opposition parties in Rajya Sabha over slowdown and job…
Rupee slips 9 paise to 71.84 against USD
Mumbai, Nov 20 : The rupee opened on a weak note and fell 9 paise to 71.84 against…
After BSNL, MTNL rings in strong VRS response
After BSNL, state-owned Mahanagar Telephone Nigam Ltd (MTNL) on Wednesday said its VRS plan has surpassed its internal…
Congress to raise issue of economic slowdown in Lok Sabha
The Congress has been protesting against the government on all these issues since November 5.
Sensex logs life-time high of 40,816, Nifty tops 12K
Mumbai, Nov 20 : India’s benchmark equity index hit record levels led by index-heavyweight Reliance Industries (RIL) —…
Software is eating trade, digital platforms replacing agreements
India has been trying to bring E-commerce under the WTO rules. It also needs to clearly establish guidelines for its usage under the FTAs with ASEAN or any other country.
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…
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."
October equity MFs inflow at 5-month low of Rs 6,015 cr
New Delhi, Nov 10 : Although there has been a rally in the stock markets off late, the…
Economic slowdown biggest negative impact of DeMon: Survey
It has been three years since the Rs 500 and 1,000 notes were demonetised to curb the use of black money and fresh Rs 500 and 2,000 notes were released.
Moody’s cuts India outlook to ‘negative’, Govt says macro stats strong
New Delhi, Nov 8 : Global rating agency Moody’s Investors Service on Friday cut India’s outlook from ‘stable’…
Subhash Chandra Garg Reform Action Plan-II: Steps needed to improve investment rates
New Delhi, Nov 7 : Former Finance Secretary Subhash Chandra Garg, who demitted office last month, has said…
Make in India has become buy from China: Rahul Gandhi
"Each year we import Rs. 6,000/ worth of goods from China for every Indian! A 100% increase since 2014. #RCEP will flood India with cheap goods, resulting in millions of job losses & crippling the (Indian) economy,"
Dismal performance of tax revenue worrying trend
Net tax revenue has to grow 42 per cent to achieve the FY20 Budget target of Rs 16.5 trillion, which appears to be a daunting task.
ICICI Bank’s Q2 net profit down 28% to Rs 655 cr
"Net NPAs decreased by 51 per cent from Rs 22,086 crore on September 30, 2018 to Rs 10,916 crore on September 30, 2019," it said.
Policy space exists to address growth concerns: RBI Governor
Mumbai, Oct 18 : In what could mean further rate cuts by India’s central bank, RBI Governor Shaktikanta…
We need PMC “Prime Minister’s commitment” to resolve the PMC crisis: Kapil Sibal
Delhi: Senior Congress leader and Rajya Sabha MP Kapil Sibal’s Press briefing. HIGHLIGHTS Nobody pays heed to the…
Commercial credit growth slowed in Apr-June quarter: Report
The non-performing assets (NPAs) surged to 16.1 per cent in this period suggesting bank profits remain under pressure.
Bangladesh, Nepal ahead of India as growth in South Asia slows down: World Bank
India has been relatively hit hard by the recent global slowdown resulting in its projected growth dropping to…
IMF cuts India’s FY20 growth forecast to 6%
New Delhi, Oct 15 : The outlook for the Indian economy for the current fiscal seems to get…
Wholesale Inflation At 0.33% In September
The Reserve Bank of India (RBI) tracks consumer inflation primarily while formulating its monetary policy.
India’s fiscal deficit ‘conceals’ a lot, warns Raghuram Rajan
The country's growth slumped to a six-year low of 5% in the April-June quarter.
Banks’ credit growth rate slows to 8.8%, shows RBI data
Outstanding loans rose Rs 596.53 trillion ($8.40 billion) from a fortnight earlier to Rs 97.71 trillion as on September 27.
Aug factory output slumps to 81-month low; manufacturing shrinks
The growth has hit the lowest level in the last 81 months.
Infosys declares 160% interim dividend
Bengaluru: Global software vendor Infosys on Friday declared an interim dividend of Rs 8 per share of Rs…
India Inc’s Q2 revenue may dip to 14-quarter low: Crisil
The estimate is based on an analysis of 430 companies, which account for 65 per cent of the market capitalisation, excluding financial services and oil firms, of the National Stock Exchange.
‘Demonetisation exercise to 200 bps rate hike, cut 2% growth in 2016 Q4’
On November 8, 2016, the government of India unexpectedly declared 86 per cent of the existing currency in circulation as illegal tender.
SBI cuts interest rates on savings deposits
SBI shares were trading at Rs 254.95, up Rs 5.85 (2.35%) recovering more than 4 per cent from lows.
Saudi Arabia assures world oil needs will be met
Riyadh, Oct 9 : The Council of Ministers on Tuesday reemphasized the Kingdoms readiness to meet the world…
Government not doing enough to revive economy: Congress
Quoting former Chief Economic Advisor (CEA) Arvind Subramanian, she said the actual GDP is less than 5 percent.
Growth worries lead Sensex to 6th straight session of loss
The benchmark Sensex closed 141.33 points lower at 37,531.98 and the broader Nifty fell by 48.35 points to 11,126.40.
US unemployment rate falls to 50-year low
The U.S. unemployment rate fell in September to a new five-decade low of 3.5%, while employers added a…
Growth worries eclipses rate cut, Sensex sheds 434 pts
Mumbai, Oct 4 : The fifth successive rate cut failed to cheer Indian investors as the Reserve Bank…
Private bank stocks struggle, Sensex tanks 440 points
Mumbai, Oct 4 : Bank stocks slid dragging the Sensex over 440 points lower on Friday as investors…
Rate cut cycle may extend on sub 4% inflation
New Delhi, Oct 4 : With inflation expected to remain below 4 per cent, the RBI has space…
RBI reduces key lending rate by 25 bps; maintains accomodative stance
Mumbai: To reverse the consumption slowdown and shore-up growth, the Reserve Bank of India on Friday reduced key…
GST Sep revenue drops to Rs 91,916 cr, adds to slowdown worry
New Delhi, Oct 1 : Reflecting the consumption slowdown in the economy, the goods and services tax (GST)…
Production up, but garlic prices jump 40% in September
According to Traders, the lesser incoming in the markets may shoot up the prices.
August’s industrial output falls, first since April 2019
The cumulative growth in April-August period of FY20 was 2.4 per cent compared with 5.7 per cent.
Modi invites American businesses to invest in India
Modi further described India as an ideal destination for investors, saying that it was a "golden opportunity to partner India".
What the tax cut will achieve; what it won’t
There are positives. But India needs to do more on education, tech, exports, informal sector and farming
Sensex gains 1,074 pts, mid-caps outperform, IT lags
Mumbai, Sep 23 : The Sensex gained 1,075 points on Tuesday, taking its two-day advance to nearly 3,000…
Hats off to Sitharaman for tax cut: Mazumdar-Shaw
Bengaluru, Sep 20 : Biocon chairperson Kiran Mazumdar-Shaw on Friday complimented Finance Minister Nirmala Sitharaman for the corporate…
Hero MotoCorp, Maruti top gainers on ‘historic’ Friday
Stocks of two-wheeler major Hero MotoCorp settled 13.19 per cent or Rs 334.05 higher at Rs 2,866.50 per share.
Sensex slumps 470 points, Yes Bank down 15%
New Delhi, Sep 19 : The key Indian equity indices slumped over 1 per cent on Thursday with…
Nirmala announces steps to boost exports, changes in taxation
New Delhi, Sep 14 : To boost the economy,Finance Minister Nirmala Sitharaman on Saturday announced a special window…
August merchandise exports down 6.05%, imports fall over 13%
New Delhi, Sep 13 : Sluggish global demand pulled India’s merchandise exports lower by 6.05 per cent in…
August retail inflation up at 3.21%
Higher food prices pushed up India’s August retail inflation to 3.21 per cent from 3.15 per cent in…
India’s July factory output grows at 4.3%
New Delhi, Sep 12 : India’s factory output growth rate accelerated in July by 4.3 per cent from…
Data will determine economic growth; 10 principles to ensure it
A global undercurrent is shaping products, companies and whole swathe of markets. It’s happening at a rapid pace…
Tata Motors Group August global wholesales down 32%
Mumbai, Sep 12 (IANS) Tata Motors Group on Wednesday reported a decline of 32 per cent in August’s…
‘12.8 lakh jobs lost in Karnataka and Goa mining sector’
As many firms were unable to pay the penalty, they had to shut the mines. Their closure led to the loss of direct/indirect jobs running into thousands.