Economy News

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

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

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

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

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

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

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

Explained: The new MSME definition in India

The new definition of MSMEs does not differentiate between a manufacturing enterprise and a service sector enterprise, Sitharaman confirmed.

May 13, 2020

Big boost for MSMEs: Govt announces Rs 3 lakh cr collateral-free automatic loans, 45 lakh units to benefit

Under the measure, borrowers with up to Rs 25 crore outstanding and Rs 100 crore turnover would be eligible for the special collateral-free loan.

May 13, 2020

Key details of Rs 20 lakh crore economic package: What to expect?

In today's press meet at the National Media Centre, FM Sitharaman will share key details on the break-up of the Rs 20 lakh crore economic booster announced by PM Modi.

May 13, 2020

Waive off home loan interest during COVID-19 lockdown, demands BJP MP

Moreover, the Rajya Sabha MP from Karnataka said that the interests of the homebuyers should be protected in these extraordinary times of COVID-19 lockdown.

May 12, 2020

China boosts shale power capacity amid plummeting demand for oil, gas globally

The coronavirus outbreak has disrupted economic activities across the globe. The oil and gas demand has plummeted in the recent weeks and storage facilities are filled to the brim. While economies are struggling to find means and measures to tide over the crisis, the Fuling shale gas field in southwest China's Chongqing Municipality sees a breakthrough in shale gas output producing 30 billion cubic meters of shale gas. Will this impact Chinese imports of alternative fuels? Where will the excess produce be stored, used, or routed?

May 12, 2020