Page 1870 - Economy & Policy News

Covid-19: At Rs 43.5 trn by March, Indian households' debt at record high

Indian households had debts worth nearly Rs 43.5 trillion at the end of March this year, up from Rs 6.6 trillion at the end of March 2008 and Rs 19.3 trillion five years ago at the end of FY15

Covid-19: India allows paracetamol formulation export, retains curbs on API

Pharma industry welcomes decision, but wants govt to consider allowing export of APIs made before March 3

Centre eases norms; allows harvesting, collection of minor forest produce

Provides additional liquidity for rural banks; may hike MSP of forest produce to push cash

Govt to provide additional relief, economic stimulus soon: FM Sitharaman

Sitharaman also assured the global community that India would continue to supply critical medicines to needy countries for the treatment of Covid-19 patients

Tirupur garment units ask govt to source PPEs locally, not from China

The manufacturers in the textile hub of Tirupur say that India has the capacity to produce the required PPEs

RBI raises limit on ways and means advances, but states aren't impressed

Ways and means advances (WMAs) are short-term advances the central bank gives to help states tide over temporary mismatches in their cash flow.

Reserve Bank tries to reduce NPA burden for lenders in coronavirus crisis

From being classified as NPAs after 90 days of overdue, the central bank raised the period to 180 days

Covid-19: In fight against economic slowdown, RBI introduces new measures

RBI tries to discourage banks from sitting on their liquidity, makes it mandatory to lend to small and medium NBFCs money raised from liquidity window

RBI's reverse repo cut big, but banks must increase risk appetite: Experts

DBS Bank India Economist Radhika Rao said the reduction in the reverse repo rate is meant to prod banks to consider lending activity rather than park funds with the central bank

Covid-19: Harsh Singhania says only a stimulus package can revive economy

"Even if we start producing, where is the transport, supply chain and customers? If shops are not open, then it makes no sense to keep producing and stocking in the factory sites," said Singhania.

Covid-19 impact: S&P slashes India's FY21 growth forecast to 1.8%

S&P expects India's growth to bounce back in FY22

I-T dept releases Rs 5,200 cr refunds to over 800,000 small businesses

Further refunds of about Rs 7,760 cr to be made soon, GST refund claims of Rs 3,800 cr also processed

Boon and bane: 6 ways in which lower oil prices will impact Indian economy

Prices are unlikely to breach the $40-a-barrel, and even when the world has fixed the disease it may double down on kicking its oil habit. Six factors that help and hurt India when oil is in plenty

Iron ore exports to see decline in near term over Covid-19 concerns

Iron ore exports from the country have suffered a jolt owing to ramped down port operations, logistics issues and glaring labour shortage

UP CM asks officials to prepare economic strategy for post-Covid scenario

UP ministers to meet ambassadors of foreign countries for investment

Fuel sales slump 50% in April; petrol down 64%, diesel 61%, ATF 94%

Industry officials said this is the biggest ever drop in sales and the first data for the complete lockdown period

Coronavirus impact: Over 100 million Indians could fall below poverty line

Job losses, destruction of informal sector and inadequate government support could push India back by a decade in poverty-reduction progress

89% stranded migrants hadn't been paid wages during lockdown period: Report

Almost three-fourths of migrants surveyed have less than half their daily wages remaining for the rest of the lockdown period

Used-CV sales surge on rural demand uptick, health ministry guidelines

Small Commercial Vehicles and Light Commercial Vehicles are buoyant, Medium and Heavt segment yet to see traction

Jute mill workers stage protests over non-payment of dues during lockdown

Total outstanding pegged at Rs 250 cr; a section of trade unions threatens hunger strike if wages are not cleared