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.
Indian market: Sensex ends at new highs at 41,952.63 pts
Jan 14, 2020, at 05:10 pm
Mumbai/UNI: The benchmark index of Bombay Stock Exchange (BSE) on Tuesday rallied by 92.94 points at 41,952.63 as most of stocks were surged amid positive global cues.
Mission Purvodaya will drive India's march towards $5 trillion economy
Jan 11, 2020, at 11:57 pm
Kolkata/UNI: Minister of Petroleum and Natural Gas and Steel Dharmendra Pradhan today launched Purvodaya: Accelerated development of eastern India through integrated steel hub in the city and said Mission Purvodaya will drive India’s march towards $5 trillion economy.
GDP growth for FY2019-20 pegged at 5%
Jan 07, 2020, at 09:45 pm
New Delhi/IBNS: The government on Tuesday forecast 5% growth for the current fiscal.
Wholesale inflation increases 0.58% in November
Dec 16, 2019, at 12:57 pm
New Delhi/IBNS: The wholesale inflation jumped 0.58% in November, government data released on Monday revealed.
Finance Ministry updates major steps taken to boost economy in the last few months
Dec 13, 2019, at 06:47 pm
New Delhi/IBNS: The government today highlighted a slew of economic measures taken in the last few months on consumption and investment fronts and added that patterns have already started to emerge resulting from these steps, though Finance Minister Nirmala Sitharaman avoided stating the extent of the impact.
SBI cuts MCLR by 10 bps after RBI keeps repo rate unchanged
Dec 09, 2019, at 05:26 pm
Mumbai/IBNS: SBI slashed its lending rates by 10 bps or basis points across all tenors effective from Dec 10, the bank said on Monday.
Govt working on income tax rate cuts among other measures to put economy on track: Sitharaman
Dec 07, 2019, at 06:41 pm
New Delhi/IBNS: The government is set to introduce more measures, including rationalisation of personal income tax to revive the economy, Finance Minister Nirmala Sitharaman said on Saturday, media reported
Union Cabinet approves Bharat Bond, country's first bond exchange-traded fund
Dec 04, 2019, at 03:40 pm
New Delhi/IBNS: The Union Cabinet on Wednesday approved the first exchange-traded fund bond, called Bharat Bond, aimed at strengthening country's bond market and encouraging retail participation, the Finance Minister said on Wednesday.
Economy, society in a worrisome state, small changes not enough : Manmohan Singh
Nov 30, 2019, at 12:37 am
New Delhi/UNI/IBNS: Former Prime Minister Dr Manmohan Singh on Friday expressed deep concern over the state of economy saying it is a reflection of the state of society. He made the comment on a day when hinting that the country's economy might be witnessing a slowdown, India's second-quarter GDP stood at 4.5 percent, the lowest in six years.
Growth rate slowdown in India itself a big problem : Rangarajan
Nov 29, 2019, at 03:36 pm
Hyderabad/UNI: Reserve Bank of India former Governor C Rangarajan on Friday said though there is no recission, the growth rate slowdown in India is itself a ‘big problem.
There won't be any recession ever: Nirmala Sitharaman
Nov 27, 2019, at 06:06 pm
New Delhi/IBNS: Countering opposition claims, Union Finance Minister Nirmala Sitaraman on Wednesday addressed the Parliament and said the country's growth may have dimmed a bit but there will not be any 'receission' ever.
India's wholesale price inflation eases to 0.33% in September
Oct 14, 2019, at 04:42 pm
New Delhi: India's wholesale price inflation stood at o.33 percent in September, revealed government data released on Monday.
World Bank slashes India's growth forecast to 6 percent
Oct 13, 2019, at 06:04 pm
New Delhi: The World Bank on Sunday reduced the growth forecast for India in the current fiscal year to 6 percent.
Indian economy exposed to risks as private consumption declines: RBI Report
Oct 12, 2019, at 09:29 pm
Mumbai:The Reserve Bank of India in its Oct 2019 Monetary Policy report has said that the sagging private consumption poses risks to the Indian economy in future.
Indian economy to grow 6.5% in FY2019, 7.2% in FY2020: ADB
Sep 25, 2019, at 05:42 pm
Tokyo: The Asian Development Bank (ADB) has revised its outlook for India’s economy, with growth now expected at 6.5% in fiscal year (FY) 2019, following weaker expansion in the first quarter of the year with slower growth in consumption and investment affecting the manufacturing and service sectors.
Investments are Great, but It's Time to Make Them Failproof
Sep 16, 2019, at 01:03 pm
Financial independence is what many people work hard to achieve. However, it is only a few who manage to achieve this status. What stops most of us from reaching financial security in life, is the fact that we focus on short-term benefits rather than going for long-term gains, through investments.
Nirmala Sitharaman announces measures to boost housing, export sector
Sep 14, 2019, at 04:44 pm
New Delhi, Sept 14 (IBNS/UNI): Ahead of the festive season, Union Finance Minister Nirmala Sitharaman on Saturday announced a series of measures to boost the housing and export sector in the country.
There is a clear sign of revival of Industrial production: Nirmala Sitharaman
Sep 14, 2019, at 03:34 pm
New Delhi, Sept 14 (IBNS): Union Finance Minister Nirmala Sitharaman on Saturday announced several measures to boost exports and said there is a clear sign of revival of industrial production.
India's eight-core industries growth slows down to 2.1 percent in July
Sep 02, 2019, at 06:10 pm
New Delhi, Sept 2 (IBNS): Growth of India's eight core industries moved down to 2.1 percent in July, official data released on Monday said.
GDP growth sees sharp drop to 5 percent
Aug 30, 2019, at 05:56 pm
New Delhi, Aug 30 (IBNS): India's Gross Domestic Product (GDP) growth for the first quarter of the financial year 2019-20 dropped to touch a figure of five percent, government figures unveiled on Friday said.
Nirmala Sitharaman announces merger of ten state-run banks to form four large entities
Aug 30, 2019, at 05:42 pm
New Delhi, Aug 30 (IBNS): Union Finance Minister Nirmala Sitharaman on Friday made some major announcements in the banking sector where she said four mega-mergers will take place involving ten state-run banks.
Nirmala Sitharaman announces major state-run bank mergers
Aug 30, 2019, at 04:51 pm
New Delhi, Aug 30 (IBNS): Union Finance Minister Nirmala Sitharaman on Friday said Punjab National Bank, Oriental Bank of Commerce and United Bank will be brought together to form the second-largest public sector bank of the country.
One-third of 5-trillion dollar economy must come from exports: Pranab Mukherjee
Aug 27, 2019, at 07:45 pm
Kolkata: Former President and Bharat Ratna Pranab Mukherjee has said exports must constitute one-third of the five-trillion dollar Indian economy, an ambition of the present government.
India's GDP growth continues to be high above US, China: Nirmala Sitharaman
Aug 23, 2019, at 06:59 pm
New Delhi, Aug 23 (UNI): Highlighting the measures to boost economic growth, Union Finance Minister Nirmala Sitharaman said on Friday that India is maintaining the reform momentum and GDP growth continues high above other countries, including the US and China.