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.
Eight core industries growth stands at 1.3 per cent in Dec 2019
New Delhi/UNI: The combined Index of Eight Core Industries of December 2019 increased by 1.3 per cent as compared to the index of the same month in 2018, according to government data on Friday.
New Delhi/IBNS: The combined total wealth of 63 Indian billionaires is higher than the total Union Budget of India for the fiscal year 2018-19 which was at INR 24,42,200 crore, a new report from Oxfam said ahead of the World Economic Forum (WEF) in Davos, Switzerland.
Indian market: Sensex ends at new highs at 41,952.63 pts
Mumbai/UNI: The benchmark index of Bombay Stock Exchange (BSE) on Tuesday rallied by 92.94 points at 41,952.63 as most of stocks were surged amid positive global cues.
Mission Purvodaya will drive India's march towards $5 trillion economy
Kolkata/UNI: Minister of Petroleum and Natural Gas and Steel Dharmendra Pradhan today launched Purvodaya: Accelerated development of eastern India through integrated steel hub in the city and said Mission Purvodaya will drive India’s march towards $5 trillion economy.
GDP growth for FY2019-20 pegged at 5%
New Delhi/IBNS: The government on Tuesday forecast 5% growth for the current fiscal.
Wholesale inflation increases 0.58% in November
New Delhi/IBNS: The wholesale inflation jumped 0.58% in November, government data released on Monday revealed.
Finance Ministry updates major steps taken to boost economy in the last few months
New Delhi/IBNS: The government today highlighted a slew of economic measures taken in the last few months on consumption and investment fronts and added that patterns have already started to emerge resulting from these steps, though Finance Minister Nirmala Sitharaman avoided stating the extent of the impact.
SBI cuts MCLR by 10 bps after RBI keeps repo rate unchanged
Mumbai/IBNS: SBI slashed its lending rates by 10 bps or basis points across all tenors effective from Dec 10, the bank said on Monday.
Govt working on income tax rate cuts among other measures to put economy on track: Sitharaman
New Delhi/IBNS: The government is set to introduce more measures, including rationalisation of personal income tax to revive the economy, Finance Minister Nirmala Sitharaman said on Saturday, media reported
Union Cabinet approves Bharat Bond, country's first bond exchange-traded fund
New Delhi/IBNS: The Union Cabinet on Wednesday approved the first exchange-traded fund bond, called Bharat Bond, aimed at strengthening country's bond market and encouraging retail participation, the Finance Minister said on Wednesday.
Economy, society in a worrisome state, small changes not enough : Manmohan Singh
New Delhi/UNI/IBNS: Former Prime Minister Dr Manmohan Singh on Friday expressed deep concern over the state of economy saying it is a reflection of the state of society. He made the comment on a day when hinting that the country's economy might be witnessing a slowdown, India's second-quarter GDP stood at 4.5 percent, the lowest in six years.