Economy News

GDP growth projected at 7% for 2019-20: Key insights from Economic Survey

According to the Economic Survey, the GDP growth projection of 7 percent in 2019-20 fiscal reflects a recovery in our economy after a deceleration in the growth momentum in 2018-19.

Jul 4, 2019

Kumaraswamy woos US businesses to invest in Karnataka

Chief Minister H.D. Kumaraswamy invited US businesses to participate in the 'Global Investors' Meet' Karnataka would host in January 2020.

Jul 3, 2019

Indian startups attracting investors again, raise record $3.9 billion in 2019

In comparison, during the entire 2016 and 2017, the Indian startups managed to raise $4.2 billion and $4.3 billion respectively.

Jul 1, 2019

Deutsche Bank, Deutsche Bank headquarters in Frankfurt, Germany

Why is Deutsche Bank planning to cut 20,000 jobs?

Deutsche Bank has seen a significant 3,900 job cuts in the first quarter and a total of 7,000 job cuts since CEO Christian Sewing took over last year.

Jul 1, 2019

US-China trade war: Trump to discuss Huawei issue with Xi at G20 Osaka summit

Chinese officials have said that reversing the technology ban on the Chinese tech giant was their top priority in trade negotiations between the two countries.

Jun 29, 2019

Major victory for India on solar panel incentives as WTO rules against US

Notably, the US had made a similar complaint against India in WTO in 2014, claiming that India's Jawaharlal Nehru Solar Energy Mission provided incentives for domestically produced solar cells and modules.

Jun 28, 2019

Gross NPAs to come down to 8% by end of FY20: CRISIL report

The report said that NPAs in public sector banks, which account for more than 80% of NPAs are expected to register a fall over 400 bps to around 10.6 percent by March 2020 from a peak level of 14.6 percent in March 2018.

Jun 26, 2019

Trump slaps fresh sanctions on Iran, targets supreme leader

Trump told reporters the sanctions were in part a response to last week's downing of a US drone by Iran, but would have happened anyway. He said Khamenei was ultimately responsible for what Trump called "the hostile conduct of the regime" in the Middle East.

Jun 25, 2019

India's fuel prices could hit the roof as crude oil prices threaten to top $100

Escalating Middle East tensions and Opec decision to maintain production squeeze buoy oil nearly 30% this year; Iran's threat to exit nuclear deal may propel oil to new highs.

Jun 24, 2019

RBI deputy governor Viral Acharya resigns; 'Poor man's Rajan' to return to US

Viral Acharya, who was fondly called 'the poor man's, Raghuram Rajan', had made strong calls for RBI's independence.

Jun 24, 2019

Gold at six-year peak due to the US-Iran unrest

Middle East tensions have supported the gold market, while the U.S.-China trade war continues to concern investors

Jun 24, 2019

New India Assurance: Why is Modi govt de-merging 3 PSU insurers?

De-merger of big-size PSUs into smaller units would enable ease in administration and a further increase in reach of these to the masses with improved and more effective focus and management.

Jun 23, 2019

Modi 2.0 targets higher GST collection by simplifying taxpayer registration

First GST Council meeting of the second Modi government fast-tracks registration with Aadhar; postpones annual returns due date for FY18 until August 31; extends National Anti-profiteering Authority's tenure for two more years.

Jun 22, 2019

Facebook CEO Mark Zuckerberg at F8 conference

Why is Facebook going back on plans to launch crypto Libra in India?

Facebook's crypto is not designed to be a closed system and is meant for transactions in the external economy, which concerns RBI.

Jun 20, 2019

RBI to raise cap for easy loans under Mudra to Rs 20 lakh; will it increase bad debt?

The Pradhan Mantri Mudra Yojana (PPMY) was launched by Prime Minister Narendra Modi with an aim to provide easy loans to non-corporate, non-farm small and micro-enterprises.

Jun 19, 2019