Economy

Democrats say Mr Trump shut the government in a "temper tantrum" by refusing to sign bipartisan funding legislation last year that did not include money for his wall.

In 2018, the United States hit the limit on the number of H-1Bs it could issue, 65,000, by the first week of April, according to the Department of Homeland Security.

Iran was the sixth biggest oil supplier to India in December compared to third position it held a year ago.

Industrial production or factory activity is determined by Index of Industrial Production (IIP).

The government on January 10 announced a change in Goods and Services Tax (GST) rules that would exempt an additional 20 lakh small businesses.

The government, which had already exceeded its annual deficit target in October, faces a huge shortfall in indirect taxes, while revenue from asset sales and dividend payments from state-run companies are subdued.

Budget 2019: From a widened fiscal deficit to shrinking Goods and Services Tax (GST) collections, and slowing growth, economists say the government faces a number of challenges as it plans the income and expenses for the coming months.

US President Donald Trump had told reporters at the White House earlier on Thursday that he intended to speak at the forum but would not attend if the shutdown continued.

The RBI's Board for Financial Supervision met on Thursday and looked at estimates for the financial performance of the banks in the December quarter.

Forecasts ranged between 1.80 per cent and 3.00 per cent, and suggested price pressures are easing off from earlier in 2018.

Finance Minister Arun Jaitley on Thursday announced a series of measures under Goods and Services Tax (GST) to boost small businesses, while ruling out any more cuts under the indirect tax system until revenues improve. The decision to hold rate cuts under GST comes in the backdrop of shrinking collections under the indirect tax. "We will consider any further reductions on individual items only when revenues move up," the finance minister said in a press conference after conclusion of the GST Council meeting.

Bimal Jalan went on to voice hope that differences with the government would be settled, now that the central bank was under new management.

Currently, firms with an annual turnover of up to Rs 20 lakh are exempted from registration under a unified national goods and service tax launched in 2017.

World Bank on GDP Growth: In 2017, China with 6.9 per cent growth was marginally ahead of India's 6.7 per cent, mainly because the slowdown in the Indian economy due to demonetisation and implementation of the Goods and Services Tax (GST), the report said.

The World Bank outlook comes as the United States and China have been engaged in a bitter trade dispute, which has jolted financial markets across the world for months.