Economy

PM Modi Asks Banks To Unveil Innovative Products For Startups, Fintech

PM Modi Asks Banks To Unveil Innovative Products For Startups, Fintech

Press Trust of India | Friday February 26, 2021

Speaking at a webinar on Budget announcements on Financial Services, PM Modi said to help medium and small businesses during COVID-19. 90 lakh MSMEs were given credit worth Rs 2.4 trillion.

Here's Why Economic Recovery Entered Consolidation Phase Last Month

Here's Why Economic Recovery Entered Consolidation Phase Last Month

Edited by Nikita Prasad (With inputs from Agencies) | Friday February 26, 2021

Six indicators witnessed an improved year-on-year performance in January 2021, compared to December 2020, viz., non-oil exports, rail freight traffic, diesel consumption etc

Economy Potentially Resumed Growing Last Quarter: Report

Economy Potentially Resumed Growing Last Quarter: Report

Edited by Nirmalya Sen | Friday February 26, 2021

GDP Data: India had slipped into a technical recession during July-September when gross domestic product fell for two successive quarters

GDP To Register Record Expansion Of 11% In Next Fiscal Year: Report

GDP To Register Record Expansion Of 11% In Next Fiscal Year: Report

Edited by Nikita Prasad | Thursday February 25, 2021

Countercyclical stance of Budget 2021 has cemented expectations of growth recovery continuing well into the next fiscal, and the range of real GDP growth prognosis varies between 10-15 per cent

Here's How Production Linked Incentive Scheme Will Affect 10 Key Sectors

Here's How Production Linked Incentive Scheme Will Affect 10 Key Sectors

Edited by Nikita Prasad | Thursday February 25, 2021

With an aim to boost domestic manufacturing and cut down import bills, the government introduced the PLI scheme, to provide incentives on incremental sales from products manufactured in domestic units.

Retail Inflation Likely To Average Close To 5% In Next Fiscal: Report

Retail Inflation Likely To Average Close To 5% In Next Fiscal: Report

Edited by Nikita Prasad | Thursday February 25, 2021

The retail inflation may average close to five per cent in the next fiscal year, a significant moderation versus likely the current fiscal year's average of close to six per cent.

Budget 2021 Marks Directional Change For Economy: Finance Minister

Budget 2021 Marks Directional Change For Economy: Finance Minister

Press Trust of India | Thursday February 25, 2021

Narendra Modi, after becoming the prime minister in 2014, discarded the system of notary saying that citizens can self attest their documents, she said, adding that the system of boiler inspector, who would certify that the boiler in a factory is ok, was also abolished.

Coordinated Action Needed Between Centre, States On Tax Cut In Fuel Rates: RBI Governor

Coordinated Action Needed Between Centre, States On Tax Cut In Fuel Rates: RBI Governor

Press Trust of India | Thursday February 25, 2021

'There is a need for coordinated action between the centre and states because there are inherent taxes levied by both,' said Reserve Bank of India's Governor Shaktikanta Das

India Likely Exited Recession In 2020-End, GDP Data May Show: Report

India Likely Exited Recession In 2020-End, GDP Data May Show: Report

Anirban Nag, Bloomberg | Thursday February 25, 2021

Two of the eight high-frequency indicators tracked by Bloomberg News improved last month, while five held steady and one deteriorated.

Economic Recovery Takes Wings But Not Out Of The Woods Yet

Economic Recovery Takes Wings But Not Out Of The Woods Yet

Edited by Nirmalya Sen | Wednesday February 24, 2021

Cheered on by the decline in Covid-19 cases and reopening of economy, GDP is expected to rise 1.3 per cent in October-December, while it is likely to contract 6.8 per cent in financial year 2020-21

Economy Likely Returned To Growth In December Quarter: Poll

Economy Likely Returned To Growth In December Quarter: Poll

Reuters | Wednesday February 24, 2021

The median forecast from a survey of 58 economists, conducted between February18-24, put year-on-year growth at 0.5 per cent in the December quarter, as the economy stabilised after contracting 23.9 per cent and 7.5 per cent in April-June and July-Sept quarters respectively.

India's Inflation Target May Need To Be Refined: Chief Economic Adviser

India's Inflation Target May Need To Be Refined: Chief Economic Adviser

Reuters | Tuesday February 23, 2021

The current monetary policy framework, signed by Prime Minister Narendra Modi's government with the Reserve Bank of India in 2015, expires next month

Moderate Inflation Provides Room To Support Growth: MPC Minutes

Moderate Inflation Provides Room To Support Growth: MPC Minutes

Reuters | Monday February 22, 2021

The Reserve Bank of India kept rates steady at record low levels this month and said it would maintain support for recovery from the coronavirus by ensuring ample liquidity.

GST Council Should Consider Rationalisation, Bring Petrol Under GST: Finance Minister

GST Council Should Consider Rationalisation, Bring Petrol Under GST: Finance Minister

ANI | Saturday February 20, 2021

"The Centre and states both generate revenue from petrol. We can think about bringing petroleum under the GST. Maybe it is a solution,'' said Finance Minister Nirmala Sitharaman

Government Released Rs 1 Lakh Crore GST Compensation Shortfall Since October 2020

Government Released Rs 1 Lakh Crore GST Compensation Shortfall Since October 2020

Edited by Nikita Prasad (With inputs from Agencies) | Saturday February 20, 2021

This week, the amount was borrowed at an interest rate of 5.5924 per cent. So far, an amount of Rs. 1,00,000 crore has been borrowed by the government through the special borrowing window at an average interest rate of 4.8307 per cent