Economy News

India's economy seen slowing rapidly in March quarter, with worse to come

Gross domestic product data out later on Friday is expected to show India's economy grew at its slowest pace in at least two years in the March quarter as the coronavirus pandemic weakened already declining consumer demand and private investment.

May 29, 2020

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Sensex, Nifty rise 1% on global cues; banking shares gain

The NSE Nifty 50 index rose 1.2% at 9,148.8 by 0347 GMT, while the S&P BSE Sensex gained 1.04% to 30,994.03.

May 26, 2020

New RBI governor Shaktikanta Das. Photo: Reuters

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RBI Governor Shaktikanta Das cuts repo rate to 4%, reverse repo rate to 3.35%: Key points from press meet

Reserve Bank of India Governor Shaktikanta Das holds a press conference on monetary measures for Covid-19 relief. Scroll down to read other major announcements.

May 22, 2020

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Bill to delist Chinese cos. from exchange passed in US senate; will Modi government follow?

The bill that was introduced by Republican Senator John Kennedy, and a Democrat Chris Van Hollen from Maryland was overwhelmingly passed in the upper chamber of the United States Congress.

May 21, 2020

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Amid rising global noises, will India replace China as the biggest manufacturing hub in Asia?

Cashing on the Covid-19 times dampening global economic prospects for this year and next, many radical voices are saying that India is on the way to become the next big manufacturing factory in Asia to replace China soon. This reflects nothing except national hubris and foul cry.

May 20, 2020

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Japan falls into recession, and much worse could be on the way as Covid-19 pandemic wreaks havoc

Capital expenditure of Japan fell 0.5% in the first quarter after plummeting 4.8% in October-December last year, the GDP data showed.

May 18, 2020

Ease of doing business: Less penalties for small firms, startups

The government will also take steps towards creating additional and specialised benches of the National Company Law Appellate Tribunal (NCLAT).

May 17, 2020

Here's the break-up of economic package; allocation at Rs 20,97,053 crore

On Sunday, FM Sitharaman listed measures worth Rs 20,97,053 crore including RBI measures and steps announced under Pradhan Mantri Garib Kalyana Package (PMGKP).

May 17, 2020

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Nirmala Sitharaman's 5th tranche of measures: Rs 20 lakh cr deconstructed, borrowing limit increased from 3% to 5% for states

The fifth tranche of measures are a part of Rs 20 lakh crore Covid stimulus package, announced by Prime Minister Narendra Modi earlier.

May 17, 2020

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Easing airspace restrictions, auctioning 6 airports; how govt is trying to revive aviation sector

The finance minister claimed that the move to open more air space for civilian flights will bring Rs 1,000 crore per year benefits for the aviation sector, facing unprecedented crisis amid lockdown to contain coronavirus pandemic.

May 16, 2020

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Deferment of EMIs won't impact bank earnings, lending to continue: SBI chairman

EMI relaxations and moratoriums issued by the Centre to lessen the financial burden on individuals and enterprises worst hit by the coronavirus lockdown has had no negative impact on the fiscal condition of banks, says Rajnish Kumar, Chairman, State Bank of India (SBI).

May 16, 2020

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Fiscal package 2.0: Relief to taxpayers as TDS to be cut by 25%, ITR filing date extended

TDS is a tax that is paid by the receiver like salary, interest, professional fees, commission, rent, etc. that is charged between 10 percent and 20 percent.

May 13, 2020

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Increase in take-home salary for private sector employees likely as Centre slashes EPF contribution

In order to increase take-home salary for employees and to provide financial relief to employers, the Central Government has lowered the EPF contribution rate to 10% from 12% for the next three months.

May 13, 2020

Stimulus package 2.0: FM Sitharaman announces Rs 75,000 crore liquidity infusion for NBFCs

Giving detail about the measures, the minister said that six measures are exclusively meant for the MSME sector, while the others pertain to real estate, NBFCs and general businesses.

May 13, 2020

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