The Indian economy may be moving towards a slowdown as the country has off-late witnessed a drop in several key economic indicators, experts said. After a fall in auto sales, a shortfall in collection of direct taxes among others, now household savings in the country too have declined. In proportion[Read More…]
Tag: Indian Economy
RBI’s excess capital should be used to recapitalise banks: Arvind Subramanian
New Delhi: In the midst of a government-Reserve Bank of India (RBI) tussle over utilisation of capital reserves of the central bank, former Chief Economic Advisor Arvind Subramanian strongly supports the government’s view, saying the RBI is holding excess capital between Rs 4.5 and Rs 7 lakh crore which should[Read More…]
What is Masala Bond? How can it help the falling rupee?
In a meeting chaired by Prime Minister Narendra Modi on Friday, Finance Minister Arun Jaitley said that the government has decided to cut non-essential imports and increase exports amid a widening current account deficit (CAD), sliding rupee and soaring crude oil prices. Addressing the media after attending a meeting to[Read More…]
Here’s how ‘Pink Money’ can boost India’s economy after Section 377 got scrapped
India has possibly been throwing away more than $26 billion a year when it continued to marginalise the LGBTQIA+ community. However, now that the Supreme Court has decriminalised homosexuality with the rainbow flags flying high, Indian markets could benefit from the vast spending power of the queer community. The remarkable judgement[Read More…]
Raghuram Rajan responsible for India’s declining economy: Niti Aayog VC Rajiv Kumar
Niti Aayog Vice Chairman blamed former RBI governor Raghuram Rajan for the drastic slowdown of Indian economy. Rajiv Kumar said that “his policies led to industries not receiving credits from banks.” Days after the GDP growth rate for the first quarter of 2018-19 was pegged at the highest in three[Read More…]
Despite falling rupee, India in exceptional period of stability: Finance Ministry official
As the Indian rupee plunged to a fresh record low of 70.60 to a US dollar on Wednesday, a top government official said there is no need to be alarmed as despite the short-term volatility, the country is going through “an exceptional period of stability”. The official said if one takes the long-term view, the rupee is not depreciating[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…]
Rupee might stabilise very soon, at 68.69 a dollar: Subhas Chandra Garg
The Indian rupee, which has been depreciating against the dollar on account of external factors, will “stabilise” soon with the fundamental equation for trade unchanged, an official said here on Saturday. “This breaching of 70 (mark) was on account of external factors largely on what happened in Turkey. Our fundamental[Read More…]
India’s economy grew highest, 10.08% under Manmohan Singh’s tenure: Report
According to a report prepared by Committee on Real Sector Statistics, India’s economy had grew the highest during the Prime Ministerial period of Manmohan Singh. The back series data on GDP prepared by the Committee on Real Sector Statistics has revealed that Indian economy clocked a 10.08 per cent growth[Read More…]
Rupee continues its free fall, record low of 70.32 a dollar
Downslide of Indian rupee continues to hit fresh records as it slumped 43 paise against the American dollar to trade at a life-time low of 70.32 on Thursday, August 16. Experts believe that the rupee is unlikely to recover soon. At the Interbank Foreign Exchange, the rupee opened at a[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…]
Currency war hovers as threat to India’s growth, says RBI governor Urijit Patel
Mumbai: The Reserve Bank of India on Wednesday said that the possibility of global protectionist measures culminating into currency wars can hamper India’s growth prospects. We already had a few months of turbulence behind us and it looks like that this is likely to continue for how long I don’t know.[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…]
India hopes to have world class infra in two decades: Jaitley
Expressing hope that India will be able to create “world-class infrastructure” in another 20 years, Finance Minister Arun Jaitley on Thursday said that his confidence in the timeline was based on how the country has become an “aspirational society” whose energies have been unleashed by the 1991 economic liberalisation. Delivering[Read More…]
Entrepreneurship will be strength of Indian economy: Jaitley
Union Finance Minister Arun Jaitley on Thursday said entrepreneurship is going to be a strength of the Indian economy as jobs in the public as well as organised private sectors are not enough for the country’s huge working population. “The strength of the Indian economy is going to be entrepreneurship.[Read More…]
Demonetisation, GST blow a complete disaster for Indian economy: Manmohan Singh
Demonetisation & GST blow is a complete disaster for our economy and has broken the back of our small businesses, said former prime minister Manmohan Singh on Tuesday. “This twin (Demonetisation & GST) blow is a complete disaster for our economy, it has broken the back of our small businesses,”[Read More…]
Supporting PM Modi was a mistake: Arun Shourie
Former BJP minister, Arun Shourie, slammed Prime Minister Narendra Modi for the second time in a week when he said that supporting him was a mistake. He was delivering the inaugural address at the sixth edition of the Khushwant Singh literary festival at Kasauli on Friday morning when he said,[Read More…]
India’s economy will get better very soon: World Bank
In wake of the ongoing economic slowdown of the country, World Bank President, Jim Yong Kim, said that it is an “aberration” caused by temporary disruptions in preparation for the Goods and Service Tax (GST) and asserted that it will be corrected in the near future. Responding to questions on[Read More…]
‘I need to speak up now’: Yashwant Sinha on Indian economy
Senior Bharatiya Janata Party (BJP) leader and former finance minister, Yashwant Sinha, has spoken out against the way his party has weakened the economy of India. According to him, many leaders in the party know that the economy is in a downward spiral, but refuse to speak up because of[Read More…]
GST will bring “revolutionary” change in the taxation system: Manohar Lal Khattar
While GST is hitting the headlines, on Wednesday, Haryana Chief Minister Manohar Lal Khattar said the implementation of the Goods and Services Tax (GST) is not going to terribly affect the textile business. “Textile has been placed in the slab of 5 per cent under the GST. Presently, there is[Read More…]
PM Modi reviews GST progress ahead of July 1 roll-out
On Monday, Prime Minister Narendra Modi, in view of the Goods and Services Tax (GST) said that the roll-out of the new indirect tax regime from July 1 will be a turning point for the economy. Notably, this was the first PM’s review on the freshly finalised rates by the[Read More…]
Exclusive: If oil prices go up, big risk for India: SEBI member
Maintaining a healthy fiscal deficit will be paramount for the Indian economy, SEBI whole-time member G Mahalingam said exclusively to Newsd on Tuesday. Fiscal deficit is the gap between a country’s total revenue and total expenditure. While speaking to Group Editor of Newsd, Shutapa Paul, Mahalingam professed concern over rising[Read More…]
Modi’s new budget prioritises consumers before taxes
As Indian economy struggles with low consumer rate post demonetisation, PM Modi is expected to lower taxes in the Feb. 1 budget to spur consumption. The risk is that a cut in tax will rob Modi of a short-term revenue rush, which his administration had been endorse as proof of[Read More…]