Economy News

Commerce Minister Suresh Prabhu to chair inter-ministerial meet on rupee, trade deficit

The meeting will deliberate upon ways to address India's trade deficit in goods and pressure on the rupee, the official added. Representatives from the department of economic affairs, coal ministry, steel ministry, oil ministry and department of pharmaceuticals are expected to attend the meeting.

Oct 3, 2018

Government spent Rs 1,997 crore on salaries, perks of MPs in past four years

While Rs 71.29 lakh was spent on an average for a member of Lok Sabha, Rs 44.33 lakh was spent on a Rajya Sabha member, the Lok Sabha secretariat said in response to the RTI application, filed by activist Chandra Shekhar Gaud.

Oct 3, 2018

Government sacks IL&FS board; Uday Kotak-led team to take over

The National Company Law Tribunal (NCLT) accepted the government's petition on Monday and the first meeting of the newly nominated board will be held on or before October 8 .

Oct 2, 2018

Pakistan to reconsider 'Silk Road' projects fearing Chinese debt trap

The voice of dissent against the Chinese projects has become stronger under the new government of Prime Minister Imran Khan, who himself has questioned the rising debt levels in the country.

Sep 30, 2018

India's economy continues on robust growth path amid falling rupee, soaring fuel prices: ADB

Growth remains stable across most of developing Asia due to robust domestic demand, buoyant oil and gas prices and a consolidation of India's growth rebound, it said.

Sep 26, 2018

With an eye on faltering rupee, RBI to raise rates next week

The predicted rate hike would be the RBI's third this year, having lifted borrowing costs in June and August. The US Federal Reserve is forecast to raise rates this week - its third this year - according to a separate Reuters poll.

Sep 26, 2018

Big boost for sugar industry as Cabinet approves Rs 5,538 crore package policy

Addressing the media, Union Finance Minister Arun Jaitley said that the policy's objective is to deal with the surplus domestic stock of sugar due to higher production in the coming season.

Sep 26, 2018

Cabinet approves GST Network to become govt-owned company

The announcement was made by Finance Minister Arun Jaitley on Wednesday, September 26, as he said that the government will now own 100 percent of the GST Network.

Sep 26, 2018

Wary finance ministry nudges RBI to tackle worsening credit crunch

Investors have been unnerved by credit concerns that have engulfed one of the biggest NBFC names in India - Infrastructure Leasing & Financial Services (IL&FS).

Sep 26, 2018

Need to trust banking system to drive India's economy, says finance minister Arun Jaitley

He noted that the perception regarding the health of PSBs had become more positive as banks had posted positive results in terms of resolution, recovery, provisioning and credit growth.

Sep 25, 2018

82% of male and 92% of female workers earn less than Rs 10,000 a month: Report

India's problem has traditionally been known as not one of unemployment but underemployment and low wages, according to the report.

Sep 25, 2018

IBM to join hands with government bodies, public sector banks for agri solutions

The US-based company launched 'Watson decision platform for agriculture' globally Monday evening, eyeing the USD 2.4-trillion agriculture market.

Sep 25, 2018

India has potential to triple its intra-regional trade: World Bank report

Trade between India and Pakistan is a mere $2 billion -- which could be $37 billion -- without trade barriers, showed the report launched in partnership with Cuts International.

Sep 24, 2018

Heavy job cuts in telecom sectors; Reliance Jio comes to rescue

According to an estimate by Randstad India, telecom companies are likely to churn out around 50,000-75,000 employees in 2018. Additionally, other firms are estimating this number higher at around 90,000.

Sep 24, 2018

Revival of 45 bankrupt companies will recover more than Rs 50,000 crore: IBBI chairperson

About 1,100 companies have been admitted to the Corporate Insolvency Resolution Process (CIRP) since the implementation of the Insolvency and Bankruptcy Code (IBC) in 2016.

Sep 24, 2018