India's economy to shrink 10.3% in 2020, will register 8.8% growth in 2021: IMF
The Indian economy, severely hit by the coronavirus pandemic, is projected to contract by a massive 10.3 per cent this year, the International Monetary Fund (IMF) said on Tuesday. Released ahead of the annual meetings of the IMF and the World Bank, the report said global growth would contract by 4.4 per cent this year and bounce back to 5.2 per cent in 2021. America's economy is projected to contract by 5.8 per cent in 2020 and grow by 3.9 per cent the next year, the IMF said.
Oct 14, 2020, 06:28 AM IST
Rs 10,000 festival advance to employees: Check Modi govt's major festive bonanza
The special festival advance of Rs 10,000 has been announced for all gazetted and non gazetted officers.
Oct 12, 2020, 18:15 PM IST
Modi govt's big festive gift: LTC cash voucher scheme, Rs 10,000 advance for central govt employees
The Finance Minister said that the Centre will launch `LTC Cash Voucher Scheme` and `Special Festival Advance Scheme`.
Oct 12, 2020, 14:07 PM IST
Modi govt's big boost to economy: Rs 12,000 crore interest-free 50-year loan to states for capital projects
The loan will have to be spent entirely on new or ongoing capital projects, she said adding that states can settle bills of contractors and suppliers but all the amount has to be paid before March 31, 2021.
Oct 12, 2020, 13:57 PM IST
PM Modi turns 70: Here are his 5 landmark economic policies that changed the life of ordinary Indians
Prime Minister Narendra Modi turned 70 on Thursday.
Sep 17, 2020, 10:40 AM IST
RBI battle ready to take appropriate measure to support growth: Governor Shaktikanta Das
The economy contracted 23.9 per cent during the April-June quarter on account of the strict lockdown imposed by the government towards end of March to? check the spread of coronavirus infections.
Sep 16, 2020, 22:28 PM IST
India's 2020-21 Q1 GDP growth contracts by 23.9%
India's Annual Gross Domestic Product (GDP) for April-June 2020 slowed down to 23.9 percent, government data showed on Monday.
Aug 31, 2020, 17:42 PM IST
China's criminal enterprise of counterfeit products hit Indian, world economy
Surprisingly, 80 percent of these counterfeit goods sold globally are made in China, which sells 60 to 80 percent of these products merely in countries like America, thereby, weakening the economy of those nations from where it actually copies the products.
Jul 28, 2020, 01:30 AM IST
New-age skills essential for youth in rising platform economy: Quest Alliance
The report has been produced in collaboration with Tandem Research and supported by Cisco as part of the Future Right Skills Network.
Jul 27, 2020, 16:28 PM IST
April-May fiscal deficit at 58.6% of budgetary target
The government has targeted a fiscal deficit of Rs 7.96 lakh crore for fiscal year 2020-21.
Jun 30, 2020, 18:10 PM IST
India's growth potential at 6.5-7%, needs to push reforms for recovery: S&P
Days after keeping India's rating at lowest investment grade for 13th year in a row, the rating agency in a webinar said despite the contraction in GDP this year, the country continues to be an outperformer among the peer groups.
Jun 12, 2020, 17:03 PM IST
Indian economy to bounce back with growth rate of 9.5% in next fiscal: Fitch Ratings
Listing positives for India, Fitch Ratings said there was greater confidence in a sustained reduction in general government debt over the medium term to a level closer to the 'BBB' peer median.
Jun 10, 2020, 15:05 PM IST
CII comes with 10 points strategy for post-Covid India; to focus more on healthcare, education
Kotak said that the industry body will work with the government to save livelihood and getting out from the lockdown smoothly with more focus on healthcare and education.
Jun 04, 2020, 12:33 PM IST
We have to take care of businesses built by sweat and toil of Indians: FM Nirmala Sitharaman
Speaking on the show ‘Straight Talk’, Nirmala Sitharaman said that in India every issue or every policy decision has its own complexity when in comparison to any other country. India because of its diversity, because of the uneven spread of wealth and because of the levels of literacy, every policy becomes all the more complex when you try to implement it here
May 30, 2020, 07:21 AM IST
FY21 fiscal deficit likely at 5.8%, growth to slip to 0.5% says report
In a report, analysts at Bank of America also revised down their GDP growth estimate to 0.5 percent for the current fiscal year, as against the earlier estimate of 1.5 percent adding that they fear that the lockdown my extend beyond May.
May 11, 2020, 17:52 PM IST
Economy requires Rs 4.5 lakh crore fiscal support at current juncture: Ficci to FM
In a letter to Finance Minister Nirmala Sitharaman, Ficci President Sangita Reddy also made a case for the need to create a self-sufficiency fund for innovation, construction and manufacturing clusters to make use of the emerging opportunities in the wake of disruption in global supply chain.
May 11, 2020, 17:49 PM IST
PM Modi meeting with chief ministers on COVID-19 situation in the country underway
Prime Minister Narendra Modi's discussion with chief ministers of states and union territories has begun and is expected to revolve around steps for improving the battered economy and scaling up all efforts to bring more 'red' zones with high Covid-19 case load into 'orange' or 'green' zones. Watch report.
May 11, 2020, 16:52 PM IST
India's manufacturing sector activity hits record low in April amid lockdown: PMI
The headline seasonally adjusted IHS Markit India Manufacturing Purchasing Managers' Index (PMI) fell to 27.4 in April, from 51.8 in March, reflecting the sharpest deterioration in business conditions across the sector since data collection began over 15 years ago.
May 04, 2020, 11:27 AM IST
Unprecedented collapse in economic activity due to coronavirus COVID-19 crisis over last few weeks: FICCI survey
Almost 72% of the respondents to the ‘FICCI–Dhruva survey’ have reported that COVID-19 is having a ‘high to very high’ level of impact on their business
Apr 21, 2020, 14:25 PM IST
PM Modi praises RBI, says decision will provide relief
PM Modi praises RBI, says decision will provide relief to farmers, poor and small businessmen
Apr 17, 2020, 14:40 PM IST
