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.
Insolvency and Bankruptcy Code improved resolution processes in India: Economic Survey
New Delhi/IBNS: The Economic Survey 2019-20 highlighted that the Insolvency and Bankruptcy Code (IBC) has improved resolution processes in India compared to the earlier measures.
Subdued manufacturing activities lowered IIP, says Economic Survey 2019-20
New Delhi/IBNS: The moderation in the Index of Industrial Production (IIP) to 3.8 per cent in 2018-19 compared to 4.4 per cent in 2017-18 has been due to subdued manufacturing activities caused by slower credit flow to Medium and Small industries, reduced lending by NBFCs owing to liquidity crunch, tapering of domestic demand for key sectors such as automotive sector, pharmaceuticals, and machinery and equipment, volatility in international crude oil prices, prevailing trade-related uncertainties, noted the Economic Survey 2019-20.
New Delhi/IBNS: The Economic Survey 2019-20 says India’s aspiration to become a $5 trillion economy depends critically on promoting “pro-business” policy that unleashes the power of competitive markets to generate wealth, on the one hand, and weaning away from “pro-crony” policy that may favour specific private interests, especially powerful incumbents, on the other hand.
After reaching the lowest point, Indian economy to revive from here: Chief Economic Adviser
New Delhi/IBNS: Chief Economic Adviser KV Subramanian on Friday expressed hope that the Indian economy will start growing after hitting the bottom while predicting a growth of 6 to 6.5 per cent growth for the 2020-21 fiscal year.