Economy

Pakistan Needs $ 17 Billion To Cover Rising Current Account Deficit, Says World Bank

World News | Press Trust of India | Tuesday October 17, 2017

Pakistan needs around $ 17 billion to cover rising current account deficit and debt payments in the year 2018, the World Bank has said reiterating that it would continue to support the country to implement its broad economic reforms.

40% Drop In Sales Ahead Of Diwali, Says Traders Body

Press Trust of India | Monday October 16, 2017

With just 3 days for Diwali, "markets across the country are gloomy, having a deserted look with very less festivity and less foot fall of the consumers", resulting in 40 per cent drop in sales in comparison to last year, Confederation of All India Traders (CAIT) said in a statement.

Niti Aayog's Rajiv Kumar Pitches For Fiscal Stimulus To Boost Growth

Business | Press Trust of India | Monday October 16, 2017

Faced with slowing economic growth, the industry has been clamouring for a stimulus package from the government.

Fed's Janet Yellen Says Watching Inflation Closely But Economy Is Strong

Business | Thomson Reuters | Sunday October 15, 2017

"We will be paying close attention to the inflation data in the months ahead," Janet Yellen said in prepared remarks at an international banking seminar in Washington.

Never Spoke Of Fiscal Stimulus To Revive Growth, Says Arun Jaitley

India News | Indo-Asian News Service | Sunday October 15, 2017

There was never any talk by the Indian government about announcing a fiscal stimulus package for boosting the economy, Finance Minister Arun Jaitley asserted.

Arun Jaitley Takes Up H-1B Issue With US Authorities

Press Trust of India | Sunday October 15, 2017

The H-1B visa is a non-immigrant visa that allows US companies to employ foreign workers in speciality occupations.

Indians On H-1B Visas Aren't Illegal Economic Immigrants: Arun Jaitley

India News | Press Trust of India | Sunday October 15, 2017

Indian information technology professionals who are coming to the US on H-1B visa are not illegal economic immigrants and the US must decide appropriately while taking a decision on its visa police, Finance Minister Arun Jaitley has said

GDP Likely To Grow to About 7% This Fiscal, Says Niti Aayog Vice Chairman

Business | Press Trust of India | Sunday October 15, 2017

Economic growth in the first quarter of the current fiscal has slipped to 5.7 per cent.

Buying Gold This Dhanteras? Here's What You Need To Know

Agencies | Monday October 16, 2017

After subdued Dusshera sales, jewelers have lined up discounts and freebies to lure buyers ahead of Dhanteras.

Following Right Economic Policy, Not Populism: Arun Jaitley To NDTV

India News | Written by Namrata Brar | Sunday October 15, 2017

Amid intense criticism over the government's handling of the economy, Finance Ministry Arun Jaitley told NDTV that the Centre is following the "right economic policy", adding that it didn't indulge in populism

Right Time To Carry Out Structural Reforms, Says Arun Jaitley

Press Trust of India | Sunday October 15, 2017

The Finance Minister said the upgraded global growth projections should help India's own growth rate.

US-World Divide Spills Out At IMF-World Bank Meetings

World News | Agence France-Presse | Sunday October 15, 2017

The growing split between the United States and the rest of the world spilled into the annual meetings of the International Monetary Fund and World Bank in Washington this week

Indian Economy On A "Very Solid Track" Says IMF Chief Lagarde

Press Trust of India | Sunday October 15, 2017

Christine Lagarde described demonetisation and Goods and Services Tax (GST) - as a monumental effort by India.

Indian Economy On 'Very Solid Track': International Monetary Fund Chief

India News | Press Trust of India | Sunday October 15, 2017

Days after the International Monetary Fund (IMF) lowered its growth forecast for the current and the next year, IMF chief Christine Lagarde today said the Indian economy is on a "very solid track" in the mid-term.

Low Productivity In Advanced Economies Worrisome: Arun Jaitley

Press Trust of India | Saturday October 14, 2017

In his address to the annual meetings of International Monetary Fund and World Bank, Arun Jaitley said it is reassuring that economic recovery has gathered pace.

BIS Act Comes Into Force From October 12: Government

Press Trust of India | Saturday October 14, 2017

Parliament had in March 2016 passed the law to replace the BIS Act of 1986. The consumer affairs ministry finalised the rules for the new law only this week.

IMF Asks India To Prioritise Public Sector Banking Reforms

Business | Press Trust of India | Friday October 13, 2017

Growth is expected to accelerate in medium-term as temporary disruptions due to note ban, GST fade, IMF said.

A Cheaper, Faster Rajdhani This Diwali Between Delhi-Mumbai

Press Trust of India | Friday October 13, 2017

The special train, to be introduced to the sector on October 16 from Hazrat Nizamuddin station in Delhi to the Bandra Terminus in Mumbai, will not only decrease travel time by two hours, but will cost passengers Rs 600-800 less than the two other Rajdhanis already on the route.

In US, Arun Jaitley Makes Strong Case For Reforms In H1-B/L1 Visa Processes

India News | Indo-Asian News Service | Friday October 13, 2017

Highlighting the contribution of skilled Indian professionals to the US economy, Finance Minister Arun Jaitley has made a strong case for reforms in H1-B/L1 visa processes during bilateral talks with the US Treasury Secretary and US Commerce Secretary.

Slowdown Effect Of GST, Notes Ban Has Played Out: Arun Jaitley

India News | Indo-Asian News Service | Friday October 13, 2017

Finance Minister Arun Jaitley today said the slowdown effect of demonetisation and GST roll-out on the Indian economy has played out and the country's growth is now headed towards being more balanced and sustainable.

Government Saved $9 Billion, Thanks To Aadhaar: Nandan Nilekani

India News | Press Trust of India | Friday October 13, 2017

The Aadhaar programme has saved the government $9 billion by weeding out fake beneficiaries of government schemes, its architect Nandan Nilekani has said. With over one billion people enrolled in the national biometric identity programme, it is easier for an emerging economy as India to grow fast by building the right digital infrastructure, Mr Nil...

Billionaire Birla Says PM Modi Needs Time to Spark Investment

India News | Bhuma Shrivastava | Siddharth Philip | BLOOMBERG | Friday October 13, 2017

Kumar Mangalam Birla, who controls the $41 billion Aditya Birla Group, says steps by Prime Minister Narendra Modi to revive growth in the economy will take more time as companies rein in investment for at least one more year.

Modi Has A Problem, But Rahul Gandhi Unable To Capitalize On It

Opinion | Mihir Swarup Sharma | Friday October 13, 2017

There's no doubt that there's at least some amount of discontent at the state of the economy, and how it has affected people's personal fortunes.

Positive Mood About India Here, Says Arun Jaitley In US

India News | Press Trust of India | Friday October 13, 2017

There is a "positive mood" about India in the US and American investors have a clear understanding of the reforms that the government has set in motion to expand the economy, Finance Minister Arun Jaitley has said

Government Invites Bids For Strategic Disinvestment Of 4 PSUs

Press Trust of India | Thursday October 12, 2017

Besides, the government wants to sell its 99.35 per cent stake in Kolkata-based construction company Bridge & Roof Co, which is under the control of the Heavy Industries Ministry.

Protectionism, Policy Uncertainty Risks To Global Economic Recovery, Says World Bank Chief

Business | Press Trust of India | Thursday October 12, 2017

"This is the time to implement the reforms that are going to insulate against potential downturns in the future," said World Bank President Jim Yong Kim.

Retail Inflation Steady In September At 3.38%; Industrial Output At 9-Month High

Thomson Reuters | Thursday October 12, 2017

Chances of a rate cut by RBI are bleak, say analysts.

Uttar Pradesh Announces 30-Day Diwali Bonus For 8 Lakh Government Employees

Press Trust of India | Thursday October 12, 2017

The Diwali bonus for an employee will be up to Rs 6,908, said an official statement.

PM Modi Faces Deepening Discontent Over India's Slowdown

India News | Vrishti Beniwal, Bibhudatta Pradhan, Bloomberg | Thursday October 12, 2017

For the first time in his three-and-a-half year rule, Prime Minister Narendra Modi is facing sustained discontent over his economic policies as growth slows, job losses mount and distressed farmers protest.

RSS 'Diwali Baithak' To Discuss Economy, Rohingya Issue And Cow Vigilantism

India News | Press Trust of India | Thursday October 12, 2017

The state of the economy, exodus of Rohingyas from Myanmar and violence by self-styled cow vigilantes are some of the issues likely to be discussed at the three-day meeting of the Rashtriya Swayamsevak Sangh or RSS in Bhopal beginning today.