Economy

RBI: Covid Second Wave Impact Has Hit Demand, Employment

RBI: Covid Second Wave Impact Has Hit Demand, Employment

Edited by Animesh Singh | Monday May 17, 2021

RBI Bulletin: The central bank said that the resurgence of Covid-19 has dented but not debilitated economic activity in Q1 of FY22.

India's Electricity Use Falls In May Due To Covid-19 Lockdowns

India's Electricity Use Falls In May Due To Covid-19 Lockdowns

Reuters | Monday May 17, 2021

Total daily average electricity supply to states fell to 3,666 billion units during the first sixteen days of May, compared with 3,910 billion units during the second half of April, data from federal grid regulator POSOCO showed.

Wholesale Inflation Hits All-time High Of 10.49% In April On Higher Fuel & Power Prices

Wholesale Inflation Hits All-time High Of 10.49% In April On Higher Fuel & Power Prices

Edited by Abhishek Vasudev | Monday May 17, 2021

Index of fuel and power prices jumped to 20.94 per cent compared with rise of 10.25 per cent in the previous month.

NEFT Service Will Not Be Available For 14 Hours On May 23

NEFT Service Will Not Be Available For 14 Hours On May 23

Edited by Peter Noronha | Monday May 17, 2021

The National Electronic Funds Transfer (NEFT) system will not be available from 12 am to 2 pm on May 23 so as "to enhance the performance and resilience," the Reserve Bank of India said in a tweet

Government's Once-In-A-Century Budget Runs Into Trouble As Virus Strikes Back

Government's Once-In-A-Century Budget Runs Into Trouble As Virus Strikes Back

Reuters | Sunday May 16, 2021

Earlier this week, Moody's said India's severe second wave will slow the near-term economic recovery and it could weigh on longer-term growth dynamics.

Next Meeting Of GST Council To Be Held On May 28: Finance Ministry

Next Meeting Of GST Council To Be Held On May 28: Finance Ministry

Press Trust of India | Saturday May 15, 2021

The GST Council last met on October 5, 2020 to finalise contours of borrowings by states to meet shortfall in tax revenues.

India's Investment-Grade Rating Remains Under Strain: Fitch

India's Investment-Grade Rating Remains Under Strain: Fitch

ANI | Saturday May 15, 2021

On April 22, the agency had affirmed India's long-term foreign-currency issuer default rating (IDR) at BBB-minus with negative outlook

Exports Jump 3-Fold To $30.63 Billion In April, Trade Deficit Widens To $15.10 Billion

Exports Jump 3-Fold To $30.63 Billion In April, Trade Deficit Widens To $15.10 Billion

Edited by Nikita Prasad | Friday May 14, 2021

Trade Deficit Data In April 2021: The trade deficit widened to $15.10 billion in April 2021, compared to $6.76 billion in the year-ago period, mostly driven by low base effect

Finance Minister Hands Over Houses To Buyers Under Centre's Special Window Project

Finance Minister Hands Over Houses To Buyers Under Centre's Special Window Project

Edited by Nikita Prasad (With inputs from Agencies) | Thursday May 13, 2021

The residential project - 'Rivali Park', situated in suburban Mumbai, was the first housing project in the country to have received funding under the government's SWAMIH Fund.

Industrial Production Grows 22.4% In March: All You Need To Know

Industrial Production Grows 22.4% In March: All You Need To Know

Edited by Nikita Prasad | Wednesday May 12, 2021

Index of Industrial Production, March 2021: The indices for the mining, manufacturing, and electricity sectors for March 2021 stand at 139.0, 140.4, and 180.0 respectively.

Government To Provide Incentives For Battery Storage Makers

Government To Provide Incentives For Battery Storage Makers

Edited by Abhishek Vasudev (with inputs from Reuters) | Wednesday May 12, 2021

The Rs 18,100 crore plan would reduce India's import dependence and help sectors such as consumer electronics, electric vehicles, and solar energy.

Retail Inflation Eases To 4.29% In April On Decline In Food Prices

Retail Inflation Eases To 4.29% In April On Decline In Food Prices

Edited by Nikita Prasad | Wednesday May 12, 2021

Retail Inflation in India: The retail inflation eased to 4.29 per cent in April 2021, amid decline in food prices, according to government data released on Wednesday

Second COVID Wave Could Crimp India's Long-Term Growth: Moody's

Second COVID Wave Could Crimp India's Long-Term Growth: Moody's

Reuters | Wednesday May 12, 2021

Moody's now forecasts real GDP growth will fall to 9.3 per cent from 13.7 per cent for the fiscal year ending March 2022 and to 7.9 per cent from 6.2 per cent in fiscal 2022/23.

Additional Rs 30,000 Crore Debt Funding To Smaller MFIs Likely In 2021-22: Report

Additional Rs 30,000 Crore Debt Funding To Smaller MFIs Likely In 2021-22: Report

Edited by Nikita Prasad | Tuesday May 11, 2021

The fresh restructuring window for loans up to Rs 25 crore is also likely to support the microfinance institutions sector in alleviating the additional asset quality stress arising due to COVID-19.

Benign Food Prices Likely Dragged Retail Inflation To 3-Month Low In April: Poll

Benign Food Prices Likely Dragged Retail Inflation To 3-Month Low In April: Poll

Reuters | Tuesday May 11, 2021

Consumer price inflation was predicted to cool to 4.20 per cent in April, just above the RBI's four per cent mid-point target and down from March's four-month high of 5.52 per cent