Page 1781 - Economy & Policy News

FDI up by $19 bn in FY20; portfolio investment down by $13.7 bn: RBI

"Overall, net claims of non-residents on India declined by $57.6 billion during the year," RBI said

Risk of recession real, govt needs to keep a watch on demand: HUL Chairman

Mehta said, "The debate remains whether these are sufficient to kickstart a virtuous spiral of growth or would it require a substantive demand-side stimulus"

Continued spread of Covid-19 poses risk to Indian economy: IMF official

According to him, the near-term growth outlook in India continues to be clouded by the global and domestic slowdown and uncertainties relating to the evolution of the coronavirus pandemic

FinMin told to levy tax on imported goods to boost local products: Pradhan

The proposed Border Adjustment Tax would be imposed on imported goods in addition to customs duty to bring the imported product at par with locally-made products.

All apps must adhere to India's data integrity, sovereignty: NITI Aayog CEO

Asserting that India has to be a data sovereign country, Kant also said apps must be transparent in terms of origin and final destination of data

Govt's total liabilities rise by 0.8% to Rs 94.62 trillion in Q4FY20

During January-March 2020, the government raised Rs 2.3 trillion through the issuance of Cash Management Bills

Fitch slashes India's growth projection from 9.5% to 8% for FY22

It retained its projection of Indian economy contracting by 5 per cent in the current fiscal

Loan recasts may push NPAs up to 14% in FY21 due to Covid-19: S&P

"The Covid-19 pandemic may set back the recovery of India's banking sector by years, which could hit credit flows and, ultimately, the economy," the agency said

More fiscal disturbance to be expected as the lockdowns are extended

Govt accounts for first two months of the year show tax revenue at Rs 1.26 trillion compared with Rs 2.14 trillion last year. There has been a sharp decline in GST collections of Rs 57,000 cr

Odisha Govt approves investment proposals worth Rs 608.79 crore

The Naveen Patnaik-led Odisha government has approved five investment proposals worth Rs 608.79 crore that will generate employment for 1,496 people in the state

PM Garib Kalyan Rozgar Yojana to be continue till November end: Key points

PM said every member of household will get 5 kg or rice or flour every month until the end of November, in addition to 1 kg chana every month for each family

Investment pipeline charts a different course on its way to India

Old favourites Singapore and Mauritius slowly giving way to funds from Cayman Islands and British Virgin Islands, whose flows into into the country have grown 267% and 469%, respectively

How a resilient realty sector could stymie govt's low-cost housing plan

It will be difficult to provide such housing close to industrial estates due to paucity of land; only option is to buy land close to cities from realtors, giving them an opportunity to make a killing

Covid-19 impact: India's eight core sectors output contracts 23.4% in May

Infrastructure output, which comprises eight sectors including coal, crude oil and electricity and accounts for nearly 40% of the country's industrial output, contracted 30% in April and May

India's fiscal deficit at Rs 4.66 trn, 58.6% of annual target in 2 months

Net tax receipts during April-May period were Rs 33,850 cr, while total expenditure was Rs 5.12 trillion

India's marine fish production witnesses marginal rise of 2.3% in 2019

Marine fish production registered increase of 2.1% in 2019 compared to the previous year with the country recording 3.56 MT in total landings from across coasts during the year

Govt eyes higher RBI surplus this year as Covid-19 decimates tax revenues

Data available on the RBI's website shows that, as of April 1-June 21, the RBI has purchased more than Rs 1.3 trillion in government bonds

Compensation has become the biggest issue in GST: Sushil Kumar Modi

Modi tells Dilasha Seth that the proposed reforms like simplified return form and e-invoicing facility, among others, will be difficult to push through in the fourth year.

Auto companies say disruptions in Chinese imports will hurt their recovery

Over a quarter of India's auto part imports - worth $4.2 billion - came from China in 2019, according to the data from Auto Component Manufacturers' Association of India (ACMA).

Unlock 2.0 opens a small window; PM to address the nation at 4 pm today

International air travel and metro rail services will also continue to remain shut at least till July 31, and large congregations stay banned