New Delhi, Lower production in the manufacturing sector sharply decelerated India’s industrial output growth rate to 0.5 per cent in November from a rise of 8.4 per cent in October and 8.5 per cent during the corresponding period of the previous fiscal. According to the Central Statistics Office (CSO), the[Read More…]
Economy
India to retain status as fastest growing economy in 2019-20: World Bank
By Arul Louis United Nations, Fuelled by policy reforms and rebound in credit, India’s economy is forecast to expand by 7.5 per cent during the 2019-20 fiscal year and retain its position as the fastest growing major economy in a world of slowing growth, according to the World Bank. The[Read More…]
India’s December manufacturing PMI growth eases
Mumbai: Despite strong demand along with lower input costs, the growth of India’s manufacturing sector eased in December, key economic data showed on Wednesday. According to the Nikkei India Manufacturing Purchasing Managers’ Index (PMI), the composite indicator of manufacturing performance showed an index reading of 53.2 in December from 54[Read More…]
RBI Governor Shaktikanta Das to meet MSMEs, NBFCs next week
Mumbai: A day after the Reserve Bank allowed restructuring defaulted loans of up to Rs 25 crore taken by micro, small and medium enterprises (MSMEs), its Governor Shaktikanta Das said he will hold talks with representatives from the MSME and non-banking financial companies (NBFCs) next week. “Will hold meetings with[Read More…]
Economic Growth: One good policy, and a few more to go
By Taponeel Mukherjee Access to credit, data, and transportation are among the most crucial drivers of economic well-being. To ensure better access to critical needs in India, Rod Tidwell’s famous line from Jerry Maguire, “Show me the money”, would hold in good stead. Access to the correct quality and quantity[Read More…]
India’s November core industrial output slows to 3.5%
New Delhi: The output pace of India’s eight major industries slowed down in November to 3.5 per cent, official data showed on Monday. According to the Ministry of Commerce and Industry, the Index of Eight Core Industries (ECI) rose by 4.8 per cent in October and 6.9 per cent in[Read More…]
RBI to introduce new Rs 20 note soon; Check details here
The Reserve Bank of India (RBI) is set to release new Rs 20 note with additional features. While the exact date of the release is not known as of now, the new look Rs 20 note will add to the government’s arsenal of recently-released new look notes. The central bank has already[Read More…]
What all items became cheaper after GST rate cut?
On Saturday the government of India slashed GST on various items. The Goods & Services Tax (GST) council lowered the tax bracket of as many as seven items from the 28 per cent tax slab to the lower brackets. Items moved from 28 per cent to 18 per cent tax[Read More…]
US dollar falls amid Fed’s rate hike decision, stronger euro
New York: The US dollar dipped as the Federal Reserve raised interest rates by a quarter point, paring some of the sharp losses of the greenback in the previous sessions. Following the Fed’s decision to raise its benchmark overnight lending rate, the greenback extended gains but still settled at a[Read More…]
Modi government’s plans on GST belated wisdom, says Chidambaram
New Delhi: Congress leader P. Chidambaram on Wednesday termed as “belated wisdom” Prime Minister Narendra Modis remarks that 99 per cent goods would be at 18 per cent GST and said that the ruling BJPs governance mantra is ‘leap before you look.’ In a series of tweets, the former finance[Read More…]
