Dec 16, 2020, at 06:55 am
New Delhi/IBNS: Assuring '' vibrancy" in her forthcoming Budget, Union Finance Minister Nirmala Sitharaman Tuesday said the Government would ensure that public spending on infrastructure development would be sustained even as the prospects of vaccine against Covid-19 have brought in additional confidence for revival of the economy.
India has ability to become world’s number one economy in next 25 years: Piyush Goyal
Dec 16, 2020, at 01:23 am
Kolkata/UNI: With the capabilities of India’s business people, entrepreneurs, start-ups, skilled manpower, the country has the ability to become world’s number one economy in the next 25 years, said Piyush Goyal, Minister of Railways, Commerce and Industry & Consumer Affairs, Food and Public Distribution, on Tuesday.
Indian economy will be among top economies in the world: NITI Aayog Vice Chairman
Dec 07, 2020, at 10:28 pm
New Delhi: Vice-Chairman, NITI Aayog, Dr. Rajiv Kumar, emphasised that the Indian economy will be among the top economies in the world in the next few years using science, technology, and innovation in all sectors, bouncing back soon from the after effects of COVID 19, at a webinar organized to celebrate 50 years of the Department of Science and Technology (DST) recently.
Govt allocates Rs 900 crore for r & d of Covid-19 vaccine
Nov 13, 2020, at 03:13 am
New Delhi/IBNS: Finance Minister Nirmala Sitharaman on Thursday announced Rs 900 crore for research and development for Covid-19 while also assuring that the funds will be allocated for the cost of vaccine and logistics as per requirement.
Aatmanirbhar Bharat 3.0 will push job creation and stronger recovery of the economy: ASSOCHAM
Nov 13, 2020, at 01:33 am
New Delhi/IBNS: Government’s continuous support and the new announcements under the Aatmanirbhar Bharat Yojana 3.0 will make the road to recovery post-pandemic stronger and facilitate and incentivize job creation, and provide much relief and impetus to housing and infrastructure sector,” said Dr. Niranjan Hiranandani, President ASSOCHAM reacting to the announcement of the 7th major stimulus package to support the economy by the Union Finance Minister, Nirmala Sitharaman today in New Delhi.
Govt announces Rs 29.88 Lakh Crore stimulus package to revive Covid-hit Indian economy
Nov 12, 2020, at 11:50 pm
New Delhi/IBNS: In a bid to ward off the gloom surrounding the Indian economy hit by Covid-19 restrictions, the government today announced a slew of measures, including tax relief for home buyers as well as the real estate developers.
Atma Nirbhar Bharat Rozagar Yojana 3.0 : Govt attempts major boost for job creation
Nov 12, 2020, at 09:35 pm
New Delhi/IBNS: Finance Minister Nirmala Sitharaman on Thursday announced Atma Nirbhar Bharat Rozagar Yojana 3.0 aimed at boosting economic growth amid a GDP drop of 8.3 per cent in July-September.
Another stimulus to support the ailing Indian economy likely before Diwali: Report
Nov 12, 2020, at 04:40 am
New Delhi/IBNS: The Indian government is likely to announce another round of economic stimulus before Diwali, said a media report, adding that it would be linked to job creation and extension of the cabinet's decision to push growth with production-linked incentive.
Oct 13, 2020, at 12:12 am
New Delhi: Union Minister for Finance & Corporate Affairs Nirmala Sitharaman here on Monday announced measures of Rs 73,000 crore to stimulate consumer spending in the economy in an effort to fight the slowdown due to COVID-19 pandemic following lockdown.
Indian Rupee down 17 paise against USD
Sep 22, 2020, at 09:16 pm
Mumbai/UNI: The Rupee on Tuesday slipped 17 paise to close at 73.58 against the US Dollar on rising demand for the American currency by bankers and importers, dealers at the Forex Market said.
India's GDP at -23.9 pc marks worst contraction on record
Sep 01, 2020, at 02:47 am
New Delhi/IBNS: India's GDP contracted 23.9 percent in the April-June quarter, the worst ever performance on record, the National Statistical Office (NSO) data showed today.
Aug 15, 2020, at 05:47 am
Mumbai/IBNS: The Reserve Bank of India (RBI) on Friday approved an annual dividend payout of Rs 57,128 crore to the government for the accounting year 2019-20 (July-June).
Economy showing signs of improvement but medium term outlook still uncertain: RBI Governor
Jul 11, 2020, at 08:35 pm
Mumbai/IBNS: RBI Governor Shakti Kanta Das has said the economy has started showing signs of improvement with the easing of over two months of strict lockdown but "a very careful trajectory" has to be followed after the pandemic is over.
India's economy ready to bounce back: PM Modi
Jun 18, 2020, at 01:28 pm
New Delhi/UNI: Exuding confidence, Prime Minister Narendra Modi on Thursday said India's economy was ready to bounce back and there could not be a better time to make a new beginning.
India's foreign exchange reserves soar amid Covid-19 pandemic
Jun 05, 2020, at 10:03 pm
Mumbai/IBNS: At a time when India is facing a fresh economic challenge triggered by coronavirus pandemic, the Reserve Bank of India said country's foreign exchange reserve has increased by USD 3.43 billion to a new all-time high of $493.48 billion for the week ended May 29 following handsome accumulation of the core currency assets.
Nirmala Sitharaman announces 1 lakh crore agri infrastructure fund to revive Covid-hit economy
May 15, 2020, at 05:24 pm
New Delhi/IBNS: In the third tranche of measures to support India's COVID-19 hit economy, Finance Minister Nirmala Sitharaman on Friday announced Rs. 1 lakh crore for funding Agriculture Infrastructure Projects at farm-gate and aggregation points.
Nirmala Sitharaman starts her third press briefingÂ
May 15, 2020, at 04:18 pm
New Delhi/IBNS: Indian Finance Minister Nirmala Sitharaman on Friday is addressing her third press conference on providing details about the economic package announced by PM Narendra Modi this week during his national address.
Apr 08, 2020, at 06:59 pm
Kolkata/IBNS: Apex industry body, Associated Chambers of Commerce and Industry of India or ASSOCHAM, has recommended a 16 point agenda and a stimulus package of at least $200-$300 billion to thwart one of the deepest global recession expected in the backdrop of the Covid19 pandemic.
India's growth to slow to 4 percent in FY2020, recover to 6.2% in FY2021
Apr 03, 2020, at 05:15 pm
Manila/IBNS: The Asian Development Bank (ADB) projects India’s gross domestic product (GDP) will slow to 4.0% in fiscal year (FY) 2020 ending on 31 March 2021 due to a weak global environment and continued efforts to contain the novel coronavirus (COVID-19) outbreak in the country. The forecast assumes that the pandemic dissipates and full economic activity resumes from the second quarter of FY2020.
Indian economy is not immune to COVID19 pandemic: RBI Guv Shaktikanta Das
Mar 16, 2020, at 06:38 pm
New Delhi/IBNS: Reserve Bank of India (RBI) governor Shaktikanta Das on Monday said India is not immune to the COVID 19 infection and the country's economy will be impacted along with global economies due to it.
Measures to save economy after Coronavirus outbreak to be announced soon: Sitharaman
Feb 18, 2020, at 08:25 pm
New Delhi/UNI: Finance Minister Nirmala Sitharaman on Tuesday said discussions were held with exporters, importers and representatives of various industry organizations to discuss the economic effects after the outbreak of the Coronavirus in China and measures will be announced soon after talking to various departments.
Wholesale Price Index for 'All Commodities' rises by 0.1%, Wholesale inflation rises to 3.1%
Feb 14, 2020, at 05:25 pm
New Delhi/IBNS: The official Wholesale Price Index for 'All Commodities' for the month of January rose by 0.1 percent to 122.9 from 122.8 for the previous month, government data showed on Friday.
Govt will not set up a separate fund for Aspirational Districts: Sitharaman
Feb 07, 2020, at 04:52 pm
Mumbai/IBNS: Clarifying government's stand on funding the Aspirational Districts, Finance Minister Nirmala Sitharaman on Friday said the government will not create a separate fund like SC/ST fund for the Aspirational Districts but facilitate reaching of the existing schemes to these districts.
RBI keeps repo rate unchanged at 5.15 pc
Feb 06, 2020, at 12:48 pm
Mumbai/IBNS: To fight inflation, the Reserve Bank of India (RBI) kept the repo rate unchanged at 5.15 per cent, according to the Bi-monthly Monetary Policy Statement of the central bank.
Insolvency and Bankruptcy Code improved resolution processes in India: Economic Survey
Feb 01, 2020, at 12:17 am
New Delhi/IBNS: The Economic Survey 2019-20 highlighted that the Insolvency and Bankruptcy Code (IBC) has improved resolution processes in India compared to the earlier measures.
Subdued manufacturing activities lowered IIP, says Economic Survey 2019-20
Jan 31, 2020, at 11:04 pm
New Delhi/IBNS: The moderation in the Index of Industrial Production (IIP) to 3.8 per cent in 2018-19 compared to 4.4 per cent in 2017-18 has been due to subdued manufacturing activities caused by slower credit flow to Medium and Small industries, reduced lending by NBFCs owing to liquidity crunch, tapering of domestic demand for key sectors such as automotive sector, pharmaceuticals, and machinery and equipment, volatility in international crude oil prices, prevailing trade-related uncertainties, noted the Economic Survey 2019-20.
Jan 31, 2020, at 09:57 pm
New Delhi/IBNS: The Economic Survey 2019-20 says India’s aspiration to become a $5 trillion economy depends critically on promoting “pro-business” policy that unleashes the power of competitive markets to generate wealth, on the one hand, and weaning away from “pro-crony” policy that may favour specific private interests, especially powerful incumbents, on the other hand.
After reaching the lowest point, Indian economy to revive from here: Chief Economic Adviser
Jan 31, 2020, at 06:35 pm
New Delhi/IBNS: Chief Economic Adviser KV Subramanian on Friday expressed hope that the Indian economy will start growing after hitting the bottom while predicting a growth of 6 to 6.5 per cent growth for the 2020-21 fiscal year.
Eight core industries growth stands at 1.3 per cent in Dec 2019
Jan 31, 2020, at 06:19 pm
New Delhi/UNI: The combined Index of Eight Core Industries of December 2019 increased by 1.3 per cent as compared to the index of the same month in 2018, according to government data on Friday.
Jan 20, 2020, at 09:34 am
New Delhi/IBNS: The combined total wealth of 63 Indian billionaires is higher than the total Union Budget of India for the fiscal year 2018-19 which was at INR 24,42,200 crore, a new report from Oxfam said ahead of the World Economic Forum (WEF) in Davos, Switzerland.