In his address for the interim Budget 2019, Finance Minister Piyush Goyal introduced no changes to the tax slabs but announced full tax rebate for those who earn less than Rs 5 lakh. Also those whose gross income reaches to Rs 6.5 lakh will not be required to pay any[Read More…]
Tag: Economy
DLF closes 11.5% down after CBI raids office
The Central Bureau of Investigation (CBI) on Friday registered a fresh case against former Haryana Chief Minister Bhupinder Singh Hooda and several others in connection with the alleged irregularities in allocation of over 1,417 acres of land during 2009-12 in Gurugram and carried out raids at more than 20 places[Read More…]
India likely to surpass UK in largest economy rankings of 2019: PwC Report
New Delhi: India and France are likely to surpass the UK in the 2019 rankings of world’s largest economies, according to the latest projections by British consultancy multinational PwC. PwC’s annual Global Economy Watch projects real GDP growth in 2019 of 7.6 per cent for India 1.6 per cent for[Read More…]
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…]
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…]
Global stock markets likely to strengthen in next 6 months: UBS
New York: Global Equity markets are more likely to advance than fall in the next six months amid low risk of recession and attractive valuations, UBS Global Wealth Management has said. “Following the economic data rather than the news headlines has proven a good strategy for navigating the market over[Read More…]
Real estate innovation: The next phase of growth
As the Indian economy evolves, value-creation opportunities in real estate will exist as much in capturing the consumption-growth upside as in pursuing strategies of specialisation. The last decade has seen significant investments in real estate and real estate-related infrastructure, as investors braced for growth and development. The next phase of[Read More…]
Demonetisation is massive, draconian, monetary shock: Arvind Subramanian breaks his silence
New Delhi: Arvind Subramanian kept a studied silence on demonetisation as long as he was Chief Economic Adviser but six months after quitting the job he has described the note ban as a massive, draconian, monetary shock that accelerated economic slide to 6.8 per cent in the seven quarters after[Read More…]
RBI to set up panel to review its economic capital framework
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…]
Government is not eyeing RBI’s surplus reserves: Gurumurthy
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…]
New York: US dollar rises amid concerns over split Congress ahead elections
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…]
UP cabinet minister, ex-MLA among PMJAY-Ayushman Bharat beneficiary list
It is not even two weeks since the Prime Minister Narendra Modi rolled out the Pradhan Mantri Jan Arogya Yojana–Ayushman Bharat and called it a game-changer initiative to serve the poor and the names of few important people from Bharatiya Janata Party in Uttar Pradesh has emerged among its beneficiaries.[Read More…]
‘Kamdar’ Modi destroyed India’s economy: Kapil Sibal
Senior Congress leader Kapil Sibal on Sunday hit back at Prime Minister Narendra Modi, saying the “so-called kamdar” had destroyed India’s economy with no jobs and no solutions to rising unemployment. Sibal’s comment comes in continuation of the war of words between the Bharatiya Janata Party (BJP) and the Congress, as Modi on Saturday lashed[Read More…]
India aims to double export by 2025 announces union minister Suresh Prabhu
Union Minister of Commerce & Industry and Civil Aviation today chaired a meeting of different exports stakeholders and Commerce Ministry officers to discuss a strategy for revitalizing India’s exports and doubling the country’s exports by 2025. The Minister said that this is necessary for a view of challenges like the[Read More…]
Modi government has pushed economy in dire straits: Congress
The Congress on Sunday said that the Narendra Modi government had upturned a rising economy and left it in “dire straits” with its “ad hoc and myopic economic policies”. “Dear Arun Jaitley, Congress governments (2004-2104) delivered the highest decadal growth of 8.13 per cent at factor-cost since Independence. Under the Modi government, GDP growth in[Read More…]
Congress’ sharp reaction after rupee hits new of 70 to US dollar
Indian rupee crashed to all time low of 70-mark against US dollar for the first time on Tuesday. The new low of 70.09 in the currency has opened windows to the opposition parties to react on it. Congress has come up with sharp remarks on Twitter aiming at PM Narendra[Read More…]
GST slabs expected to be reduced to three in long turn, says Sanjeev Sanyal
Kolkata: Principal Economic advisor to the Finance Ministry Sanjeev Sanyal on Saturday said Goods and Services Tax (GST) slabs may be brought down to three along with the exemption category in order to further simplify the country’s tax regime. The lower rate will be five per cent, the middle bracket[Read More…]
Ease of Doing Business: Lok Sabha to bring down commercial dispute value from Rs 1 cr to Rs 3L each
In an attempt to improve India’s stand on ease of doing business, the Lok Sabha on Wednesday had a debate over cutting down the specified value of commercial disputes from the present the price of Rs 1 crore to Rs 3 lakhs. According to Union Law Minister Ravi Shankar Prasad,[Read More…]
RBI hikes repo rate making home loan woeful
Reserve Bank of India (RBI) raised the repo rate that is directly going to affect the home loan costs. The RBI announces this during its bi-monthly monetary policy review. This makes the present repo rate of India to be 6.50 per cent. The Central Bank of India has lifted the[Read More…]
Indian rupee records lowest in history, ends below 69.05 per dollar
Domestic political uncertainty a day ahead of a no-confidence motion against the central government weakened the Indian rupee to its record low level against the US dollar on Thursday. Accordingly, the Indian rupee weakened by 42 paise against the US dollar to close at 69.05 on Thursday, from its previous[Read More…]
Low exports, high imports, still government will say ‘all is well’: Chidambaram
Senior Congress leader P. Chidambaram slammed the government over its poor management of economy, saying inflation is at five-month high, industrial growth at five-month low and the trade deficit has soared. Chidambaram, a former Finance Minister, posted tweets, pointing out the low exports in the month of June, which were[Read More…]
India surpasses France to become world’s sixth biggest economy
India surpasses France to become the world’s sixth-biggest economy, pushing France to seventh place, as per the updated World Bank figures for 2017. India’s gross domestic product (GDP) was $2.597 trillion at the end of last year, against $2.582 trillion for France. There was a strong economic growth from July[Read More…]
Modi government approves 50% hike over input cost for farmers
The Union Cabinet Committee on Economic Affairs approved Minimum Support Price (MSP) for summer-sown Kharif crops for the year 2018-19, which will cost the exchequer more than Rs 15,000 core, providing a profit of 50% or more over the cost of production. Addressing the media, Union minister Rajnath Singh said, “The[Read More…]
FDI growth hit five-year low in 2017-18
New Delhi: Foreign direct investment (FDI) in India seems to be petering out with the inflows growth rate recording a five-year low of 3 per cent at USD 44.85 billion in 2017-18. According to the latest data of the Department of Industrial Policy and Promotion (DIPP), FDI in 2017-18 grew[Read More…]
Indian cities need integrated development agenda
One of the fastest-growing economies in the world, India has grown at a rate of above seven per cent over the last decade. Much of this growth can be explained by the growth of its cities. Cities have emerged as economic powerhouses that have defined job growth within the country.[Read More…]