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India needs to make efforts to reach double digit growth: EAC-PM member

India needs to make efforts to reach double digit growth: EAC-PM member

Ravi also refuted the contention of her EAC-PM colleague Rathin Roy that India could fall into the middle income trap -- a term used by the World Bank to refer to nations that get stuck at a middle

May 18, 2019, 18:12 PM IST
Forex reserves up by $1.36 bn to $420.05 bn

Forex reserves up by $1.36 bn to $420.05 bn

In the previous week, the reserves had increased by USD 171.9 million to USD 418.687 billion.

May 18, 2019, 18:11 PM IST
Nandan Nilekani-led panel on digital payments submits report to RBI

Nandan Nilekani-led panel on digital payments submits report to RBI

In January, the Reserve Bank of India had set up the five-member panel on deepening digital payments with a view to encouraging digitisation of payments and enhance financial inclusion through

May 18, 2019, 18:03 PM IST
Exports grow marginally, imports up 4.5% in April

Exports grow marginally, imports up 4.5% in April

Trade deficit, the difference between exports and imports, widened to USD 15.33 billion in April 2019 from USD 13.72 billion in April 2018.

May 15, 2019, 18:49 PM IST
Sugar production likely drop 8.4%; to fall for 2nd straight year in 2019-20: USDA

Sugar production likely drop 8.4%; to fall for 2nd straight year in 2019-20: USDA

The sugar output in the ongoing 2018-19 marketing year (October-September) is pegged at 33 million tonnes, lower than 34.3 million tonnes achieved in the previous year.

May 15, 2019, 15:46 PM IST
RBI needs to go for larger rate cut in June: SBI report

RBI needs to go for larger rate cut in June: SBI report

The RBI had cut the key short-term lending rate (repo) by 25 basis points each in its last two policy reviews. The central bank is slated to announce its next bi-monthly policy decision on June 6.

May 15, 2019, 14:18 PM IST
I-T dept again defers GST, GAAR reporting in tax audit report till March 2020

I-T dept again defers GST, GAAR reporting in tax audit report till March 2020

The reporting requirement of these details in income tax audit form has been kept in abeyance till March 31, 2020 -- meaning that all income tax audit reports need not include details on GST and

May 15, 2019, 14:17 PM IST
India postpones retaliatory tariff deadline on US products to June 16

India postpones retaliatory tariff deadline on US products to June 16

A notification of the finance ministry said that implementation of increased customs duty on specified imports originating in the US has been postponed from May 16 to June 16 this year.

May 15, 2019, 14:16 PM IST
IBC process helps recover Rs 70K cr bad loans in FY19: Report

IBC process helps recover Rs 70K cr bad loans in FY19: Report

According to its president Gurpreet Chatwal, the recovery rate for the 94 cases resolved through IBC by FY2018-19 is 43 per cent, compared with 26.5 per cent through earlier resolution mechanisms.

May 15, 2019, 14:15 PM IST
WPI inflation slips to 3.07% in April, food prices still high

WPI inflation slips to 3.07% in April, food prices still high

The Wholesale Price Index (WPI)-based inflation was at 3.18 percent in March. It was 3.62 percent in April 2018.

May 14, 2019, 14:39 PM IST
Retail inflation inches up to 2.92% in April

Retail inflation inches up to 2.92% in April

The inflation based on Consumer Price Index (CPI) 2.86 percent in the previous month and 4.58 percent in April 2018, said the data released by the Central Statistics Office (CSO).

May 13, 2019, 18:02 PM IST
RBI proposes mobile app to help visually impaired to identify currency notes

RBI proposes mobile app to help visually impaired to identify currency notes

At present, banknotes in the denominations of Rs 10, 20, 50, 100, 200, 500 and 2,000 are in circulation, besides Re 1 notes issued by the Government of India.

May 13, 2019, 11:27 AM IST
Positive sentiment continues for manufacturing sector in Q4: FICCI survey

Positive sentiment continues for manufacturing sector in Q4: FICCI survey

In terms of order books, 44 percent respondents in March 2019 quarter said they expect the number to go up as against 43 percent in October-December 2018 quarter.

May 13, 2019, 11:27 AM IST
India to add 11.5 lakh jobs in first half of FY20: Report

India to add 11.5 lakh jobs in first half of FY20: Report

The buoyancy witnessed will also translate positively on the job creation front and, in fact, around 11.5 lakh new jobs will be created in the formal sector, Chakraborty said quoting 'Employment

May 09, 2019, 10:08 AM IST
India expects improvement in WB's doing biz ranking this year

India expects improvement in WB's doing biz ranking this year

An official delegation including secretary in the Department for Promotion of Industry and Internal Trade (DPIIT) Ramesh Abhishek, apprised a World Bank team in Washington of reform measures taken by

May 09, 2019, 10:04 AM IST
RBI likely to cut interest rate again in June; no cut thereafter

RBI likely to cut interest rate again in June; no cut thereafter

In a report on the forecast for global monetary policy actions and resulting economic impact, the London-based global information provider said RBI is likely to tighten its monetary policy stance in

May 08, 2019, 16:29 PM IST
GST will not reduce deficits of Indian state governments significantly: Report

GST will not reduce deficits of Indian state governments significantly: Report

According to S&P Global Ratings the institutional framework for Indian states is evolving, but there is structural deficits due to persistent revenue expenditure mismatch.

May 07, 2019, 12:02 PM IST
FCI to sell 10 million tonne of wheat to bulk consumers this fiscal

FCI to sell 10 million tonne of wheat to bulk consumers this fiscal

The government is offering wheat at a base price of Rs 2,080 per quintal for three main wheat-producing states -- Punjab, Haryana and Madhya Pradesh, while for other states the freight charges at Ex-

May 07, 2019, 09:32 AM IST
India's services sector output growth at 7-month low in April: PMI

India's services sector output growth at 7-month low in April: PMI

The seasonally adjusted Nikkei India Services Business Activity Index, fell from 52 in March to 51 at the start of the 2019 financial year, pointing to the weakest upturn in output since last

May 06, 2019, 11:22 AM IST
India again extends retaliatory tariff deadline on US products till May 16

India again extends retaliatory tariff deadline on US products till May 16

A notification of the finance ministry has said that implementation of increased customs duty on specified imports originating in the US has been postponed from May 2 to May 16 this year.

May 03, 2019, 16:12 PM IST