Mumbai, As India has become wealthier, more of its citizens are leaving its shores. An estimated 17 million Indians were living abroad in 2017, making India the largest source country for international migrants globally, up from seven million in 1990 and a 143 per cent increase, according to an IndiaSpend[Read More…]
Mumbai: The Reserve Bank of India (RBI) would inject Rs 8,000 crore into the market by purchasing government securities on November 22, 2018. The decision comes amid concerns of a liquidity crisis in the economy after the financial services company IL&FS reported defaults in September. “Based on an assessment of[Read More…]
Mumbai: The RBI board on Monday decided to form an expert committee to examine the economic capital framework of the central bank, which will decide the amount of reserves it can maintain, handing over the balance to the government. The board also considered other issues related to the liquidity crunch[Read More…]
New Delhi: Congress President Rahul Gandhi on Monday charged the Centre with destroying institutions and hoped Reserve Bank of India (RBI) Governor Urjit Patel will show Prime Minister Narendra Modi “his place”. He accused Modi of attempting to “destroy the RBI” through his “puppets” and “cronies”. “Modi and his coterie[Read More…]
New Delhi: Calling the government’s standoff with the RBI a part of India’s thinking ecosystem which depends on American ideas, RBI board member S. Gurumurthy on Thursday said the government was not asking for the central bank’s surplus reserves but only wanted formulation of a policy as to how much[Read More…]
Mumbai: The Reserve Bank of India (RBI) would inject Rs 12,000 crore into the market by purchasing government securities on November 15, 2018. The decision comes amid concerns of a liquidity crisis in the economy after the financial services company IL&FS reported defaults in September. “Based on an assessment of[Read More…]
The Indian Railways in Ratlam has decided to install solar panels atop platforms of six railway stations in the division of the Western Railways. The stations include Indore, Ujjain, Nagda, Chittorgarh, Mhow, and Ratlam. The Railways has come up with a plan to generate 43.30 lakh units of electricity every[Read More…]
2 years ago, this very day, the Prime Minister, Narendra Modi, in a nation-wide televised address, announced demonetisation. An activity that in his own words, made the Rs 500 and Rs 1,000 notes just another piece of paper. Modi cited curbing black money and corruption as the major reason to[Read More…]
Former Prime Minister Manmohan Singh shared his scathing opinion on the second anniversary of demonetisation on Thursday and said, “Today is a day to remember how economic misadventures can roil the nation for a long time.” “It is often said that time is a great healer. But unfortunately, in the[Read More…]
San Francisco: Microsoft’s Head of digital Assistant Cortana Javier Soltero is leaving the company by the end of the year, as Cortana has moved from the Artificial Intelligence (AI) research division into the Experiences and Devices group. First reported by ZDNet on Tuesday, Javier Soltero, Vice President of Cortana, confirmed[Read More…]
New York: The US dollar rose slightly against other major currencies as investors remained cautious about the upcoming results of the US mid-term elections. In late New York trading on Tuesday, the euro fell to $1.1412 from $1.1417 in the previous session, and the British pound increased to $1.3093 from[Read More…]
Reserve Bank of India Governor Urijit Patel may resign following the tussle between the RBI and the Central government, reported TV channels on Wednesday. Working adversely on the economy, the news has led to a fall in Rupee and bonds. However, the government has confirmed having extensive consultations with the[Read More…]
New Delhi: India’s digital economy is likely to cross $1 trillion by the financial year 2022, a KPMG report said here on Thursday. The report launched at the India Mobile Congress 2018 also forecasts that mobile data usage in the country is likely to surge five times by 2023. “In[Read More…]
Petrol, diesel prices witnessed further reduction for the sixth straight day on Tuesday bringing relief to consumers from never-ending fuel rate hikes. The petrol in Delhi came down by Rs 0.10 and was revised to Rs 81.34 per litre, where as, in Mumbai, petrol price came down to Rs 0.10[Read More…]
Odisha sets a national record with unending fuel price surge as the diesel becomes costlier than petrol. It’s first ever in the country that the diesel on Sunday was sold at Rs 80.69 per litre while petrol was sold at Rs 80.57 per litre. The diesel price rose 12 paise[Read More…]
Mumbai: High fuel prices, global trade tensions and bleak job scenario pulled down Consumer Confidence by 6.6 percentage points in October over the last month, a Thomson Reuters-Ipsos PCSI Survey said on Thursday. Consumer Confidence measured by Primary Consumer Sentiment Index (PSCI) is indicative of the consumer attitudes on the[Read More…]
Indian government is looking for all the ways to attract more tourism in India. To make the mission possible, it has decided to achieve the position of second cheapest destination across the world. As of now, Vietnam is the cheapest destination in the world for tourists. Vietnam witnessed 20 per[Read More…]
Mumbai: The Indian rupee slipped to a fresh record low of 74.46 to a US dollar during the morning session on Thursday. –IANS
The migration of people of Bihar from Gujarat amid the violence and hatred is seen as a huge damage to the economy of both the states. According to experts’ speculations, if the migration continues, the economy of both the stats, Bihar and Gujarat is expected to get a bolt from[Read More…]
Ahmedabad: Former Finance Minister and former BJP leader Yashwant Sinha said here on Tuesday that the economic turmoil in the country had sent the Indian rupee into a coma. Speaking on the Rashtra Manch platform, formed early this year, Sinha said: “Narendra Modi, when he was the Gujarat Chief Minister,[Read More…]
Mumbai: Weak demand conditions along with a rise in inflationary pressures eased growth of India’s service sector output during September, a macro-economic data showed on Thursday. Accordingly, the seasonally adjusted Nikkei India Services Business Activity Index declined to 50.9 in September from 51.5 in August. An index reading of above[Read More…]
Mumbai: The Indian rupee plunged to a fresh record low of 73.77 to a US dollar on Thursday morning. It stood at 73.77 (73.7688) to a dollar — the lowest ever mark — it has touched against the greenback. It opened the day’s trade at the Inter-Bank Foreign Exchange Market[Read More…]
A famous proverb says, too many cooks spoil the soup. Same looks the situation of any state which has too many Central government-sponsored schemes with no check on its effectiveness. Finance Commission chairman NK Singh questioned the relevance of the high number of centrally sponsored schemes that are implemented by[Read More…]
United Nations: Eminent academic and economic adviser to the Kerala government, Gita Gopinath, was appointed on Monday as Director of the International Monetary Fund’s Research Department. Announcing the appointment, IMF Managing Director Christine Lagarde called her “one of the world’s outstanding economists with impeccable academic credentials, a proven track record[Read More…]
Senior BJP leader and firebrand politican Subramanian Swamy has now opened a front against the Finance Secretary Hasmukh Adhia in the Modi led union government. Swamy has termed Adhia as a corrupt officer and written a letter to Finance Minister Arun Jaitley on Wednesday, seeking a demand for prosecution under[Read More…]