Indian Rupee down 17 paise against USD
Mumbai/UNI: The Rupee on Tuesday slipped 17 paise to close at 73.58 against the US Dollar on rising demand for the American currency by bankers and importers, dealers at the Forex Market said.
India's GDP at -23.9 pc marks worst contraction on record
New Delhi/IBNS: India's GDP contracted 23.9 percent in the April-June quarter, the worst ever performance on record, the National Statistical Office (NSO) data showed today.
Mumbai/IBNS: The Reserve Bank of India (RBI) on Friday approved an annual dividend payout of Rs 57,128 crore to the government for the accounting year 2019-20 (July-June).
Economy showing signs of improvement but medium term outlook still uncertain: RBI Governor
Mumbai/IBNS: RBI Governor Shakti Kanta Das has said the economy has started showing signs of improvement with the easing of over two months of strict lockdown but "a very careful trajectory" has to be followed after the pandemic is over.
India's economy ready to bounce back: PM Modi
New Delhi/UNI: Exuding confidence, Prime Minister Narendra Modi on Thursday said India's economy was ready to bounce back and there could not be a better time to make a new beginning.
India's foreign exchange reserves soar amid Covid-19 pandemic
Mumbai/IBNS: At a time when India is facing a fresh economic challenge triggered by coronavirus pandemic, the Reserve Bank of India said country's foreign exchange reserve has increased by USD 3.43 billion to a new all-time high of $493.48 billion for the week ended May 29 following handsome accumulation of the core currency assets.
Nirmala Sitharaman announces 1 lakh crore agri infrastructure fund to revive Covid-hit economy
New Delhi/IBNS: In the third tranche of measures to support India's COVID-19 hit economy, Finance Minister Nirmala Sitharaman on Friday announced Rs. 1 lakh crore for funding Agriculture Infrastructure Projects at farm-gate and aggregation points.
Nirmala Sitharaman starts her third press briefingÂ
New Delhi/IBNS: Indian Finance Minister Nirmala Sitharaman on Friday is addressing her third press conference on providing details about the economic package announced by PM Narendra Modi this week during his national address.
Kolkata/IBNS: Apex industry body, Associated Chambers of Commerce and Industry of India or ASSOCHAM, has recommended a 16 point agenda and a stimulus package of at least $200-$300 billion to thwart one of the deepest global recession expected in the backdrop of the Covid19 pandemic.
India's growth to slow to 4 percent in FY2020, recover to 6.2% in FY2021
Manila/IBNS: The Asian Development Bank (ADB) projects India’s gross domestic product (GDP) will slow to 4.0% in fiscal year (FY) 2020 ending on 31 March 2021 due to a weak global environment and continued efforts to contain the novel coronavirus (COVID-19) outbreak in the country. The forecast assumes that the pandemic dissipates and full economic activity resumes from the second quarter of FY2020.
Indian economy is not immune to COVID19 pandemic: RBI Guv Shaktikanta Das
New Delhi/IBNS: Reserve Bank of India (RBI) governor Shaktikanta Das on Monday said India is not immune to the COVID 19 infection and the country's economy will be impacted along with global economies due to it.
Measures to save economy after Coronavirus outbreak to be announced soon: Sitharaman
New Delhi/UNI: Finance Minister Nirmala Sitharaman on Tuesday said discussions were held with exporters, importers and representatives of various industry organizations to discuss the economic effects after the outbreak of the Coronavirus in China and measures will be announced soon after talking to various departments.
Wholesale Price Index for 'All Commodities' rises by 0.1%, Wholesale inflation rises to 3.1%
New Delhi/IBNS: The official Wholesale Price Index for 'All Commodities' for the month of January rose by 0.1 percent to 122.9 from 122.8 for the previous month, government data showed on Friday.
Govt will not set up a separate fund for Aspirational Districts: Sitharaman
Mumbai/IBNS: Clarifying government's stand on funding the Aspirational Districts, Finance Minister Nirmala Sitharaman on Friday said the government will not create a separate fund like SC/ST fund for the Aspirational Districts but facilitate reaching of the existing schemes to these districts.
RBI keeps repo rate unchanged at 5.15 pc
Mumbai/IBNS: To fight inflation, the Reserve Bank of India (RBI) kept the repo rate unchanged at 5.15 per cent, according to the Bi-monthly Monetary Policy Statement of the central bank.