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.
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
GDP Data: India had slipped into a technical recession during July-September when gross domestic product fell for two successive quarters
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
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.
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.
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.
'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
Two of the eight high-frequency indicators tracked by Bloomberg News improved last month, while five held steady and one deteriorated.
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
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.
The current monetary policy framework, signed by Prime Minister Narendra Modi's government with the Reserve Bank of India in 2015, expires next month
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.
"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
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