Economy News

Achieving 7.5% GDP growth in FY '18 difficult: Economic Survey 2017

The survey noted that farm loan waivers could reduce aggregate demand by as much as 0.7 percent of gross domestic product (GDP), imparting a significant deflationary shock to the economy.

Aug 11, 2017

Apple co-founder launches iPhone in January 2007

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iPhone 8 can make Apple rich enough to become world's first trillion dollar company

Sales of iPhones this year will significantly contribute towards making Apple the most valuable company, putting its market cap at $1 trillion.

Aug 10, 2017

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Insolvency proceedings approved for 10 out of 12 big defaulters

Jaypee Infratech has become the 10th defaulter against which the NCLT admitted insolvency proceedings.

Aug 10, 2017

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Buoyant stock markets drive record inflows into equity schemes: Report

Mutual funds saw investors pouring in Rs 18,200 crore into equity schemes in July, according to a brokerage.

Aug 9, 2017

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Is automation in the IT sector really a threat or is it an exaggeration?

Minister of State for Finance Arjun Ram Meghwal said that even though people have been losing their jobs, the "growth momentum" of the Indian economy will create new job opportunities.

Aug 9, 2017

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Housing sector to remain sluggish throughout the year: Colliers India

The residential market saw new launches falling 17 percent during the January-June period and likely to stay weak further due to GST and RERA.

Aug 8, 2017

Rupee expected to appreciate 1.1% by year-end

Rupee is one of the best performing emerging market currencies this year, thanks to foreign fund inflows.

Aug 7, 2017

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Monetary policy panel was split 5-to-1 on interest rate cut

All in all, the split raises questions on the extent to which MPC members trust the monetary authority's forecasting models which always overestimate price pressures.

Aug 7, 2017

NPA crisis: PSU banks write off bad loans worth Rs 81,683-crore in FY17

In contrast to the written-off amount of Rs 27,231 crore in 2012-13, when banks earned combined net profit of Rs 45,849 crore, the loan amount written off in 2016-17 trebled to Rs 81,683 crore when the banks combined profits were a mere Rs 474 crore.

Aug 7, 2017

Who is Rajiv Kumar, new vice-chairman of NITI Aayog?

On Saturday, August 5, the Centre appointed Rajiv Kumar after Arvind Panagariya quit to pursue academic interests.

Aug 6, 2017

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Arun Jaitley promises guidance notes on GST

Touted to be one of India's most ambitious economic reforms in 70 years, GST is said to eventually boost tax receipts and provide simplicity for businesses.

Aug 5, 2017

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Rising rupee is a mixed bag for Indian economy

The Indian rupee closed at a two-year high against the US dollar on Friday.

Aug 5, 2017

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Venezuela: Inauguration of constituent assembly sparks new protests

Venezuela has inaugurated the new legislative superbody elected last week. The 545-member constituent assembly has been condemned by governments across Latin America, the U.S. and EU. Opposition protesters clashed again with security forces in Caracas. They believe the assembly endangers Venezuelas democratic freedoms. The all-powerful body may decide to dissolve the opposition-run congress and will rewrite the constitution, giving the ruling Socialist Party vast new powers.

Aug 5, 2017