Page 2260 - Economy & Policy News

Economic activity clearly losing traction, says Shaktikanta Das at MPC meet

Reserve Bank of India Governor Shaktikanta Das said this while voting for a 25 basis points (bps) rate cut along with other five members at the MPC meet earlier this month

Mining's share of India's GDP fell to 1.53% in FY18 from 1.93% in FY13

India's GDP grew from five per cent to seven per cent during the same period

Centre, states should reform labour laws for investments, jobs: SBI report

SBI in its research report 'Ecowrap' said investors look for stability and sustainability. Land and labour resources are critical for them to firm up their investment plans, it added

Govt plan of opening over 78,000 petrol pumps is uneconomical, says Crisil

In November last year, PSU oil marketing companies advertised to open 78,493 more petrol pumps in the country. This on top of 64,624 fuel retail outlets currently operating in the country

Govt to build 35,000 km of national highways by 2022: President Kovind

The President said the current government's continuous endeavour has been to build infrastructure in an eco-friendly manner

Monsoon hits drought-hit Maharashtra, says IMD

Maharashtra is the country's second biggest producer of cotton, sugar cane and soybeans, and top producer of onions and summer-sown pulses.

Bets on rupee turn bearish for the first time since late February: Poll

Investors had turned bullish on the rupee in March for the first time in nearly a year when billions of dollars worth of foreign funds poured into India ahead of general elections

Govt will take steps for further simplification of GST: President Kovind

The taxation regime, he noted, plays an important role in accelerating economic development

DBS cuts India's FY20 GDP forecast to 6.8% from 7% on weakening exports

'Growth headwinds swiftly turn attention to the likely policy response. We expect monetary policy to do much of the heavy lifting, given limited fiscal leeway'

Govt identifies 5,106 risky exporters who fraudulently claimed GST refunds

It said that in the last two days -- June 17 and 18 -- only 1,436 shipping bills filed by total 925 exporters have been interdicted

Bears return to prey on rupee as Lok Sabha election euphoria fades: Poll

With the election done and dusted, inflows have tapered off, the central bank has cut interest rates for the third time this year and Fitch Ratings posited another 25 basis point cut in 2019.

Modi's '$5 trillion economy' ambition far more challenging than achievable

India is, currently, a $2.8 trillion dollar economy; to reach the $5 trillion mark by 2024, the economy would have to grow at over 12% a year

India's 10-year bond yields drop to 20-month low on US Fed rate cut hints

US Federal Reserve said it was ready to battle growing global and domestic economic risks with interest rate cuts

Shaktikanta Das reiterates growth forecast in new FM's first FSDC meet

Das also said the Bimal Jalan panel, tasked with defining guidelines for transferring the central bank's excess capital to the government, will submit its report by the end of the month

India bond yields to decline further over global tensions, say dealers

The bond market participants see the yields falling by another 15-20 basis points from the present level

EAC-PM hits back at Subramanian, says he 'cherry-picked' data for GDP claim

Former chief economic advisor Arvind Subramanian claims that India's economic growth was overestimated by nearly 2.5 percentage points in the 2011-17 period.

From telecom to oil sector, economists flag 'business uncertainties'

The participants also apprised the NITI Aayog about creating special economic zones in coastal areas of the country to create more jobs

Odds may stack up against GST on lotteries at Council meet on Friday

Currently, the GST rate on lottery run by state governments stands at 12%

India won't allow multi-brand retail by foreign companies, says Goyal

He said provisions regarding the data in the e-commerce policy is being addressed by the Ministry of Electronics and Information Technology (MeitY)

IBA drafts new inter-creditor agreement for resolution of stressed assets

According to the new RBI norms, banks will have a "grace period" of 30 days to think of a plan after a "default" and a further 180 days to execute the plan