Indian economy yet to revive from effects of Covid-19 pandemic: CPI(M)
NEW DELHI: Ahead of the Union Budget, the CPI(M) has alleged the Indian economy is yet to revive from the blow it was dealt with during the Covid pandemic and blamed the government for the way it was handled. The party demanded that taxation and public expenditure be used to tilt distribution in the favour […]
India engineering goods exports jump to $82 billion during April-December 2021
NEW DELHI: Exports of Engineering Goods jumped to USD 81.8 billion during April-December 2021 (Provisional) as compared to USD 52.9 billion during same period in the previous year (2020), registering a stupendous growth of 54%. Engineering Goods sector constitutes the largest, more than 27%, share of India’s total exports basket during the period. As compared […]
Over $157 billion deployed in last 15 months to fight Covid-19 pandemic: World Bank
NEW DELHI: In its largest-ever crisis response, the World Bank has deployed over USD 157 billion to fight the impact of the COVID-19 pandemic on health, economic and social fronts over the last 15 months. This represents an increase of more than 60 per cent over the 15-month period prior to the pandemic, the bank […]
Macrotech to invest Rs 2,800 crore in FY22 on construction of realty units
NEW DELHI: Realty firm Macrotech Developers will double its investment on construction to Rs 2,800 crore in this fiscal to speed up works at various projects which were hampered last year due to the COVID-19 pandemic and a nationwide lockdown. Mumbai-based Macrotech Developer, earlier known as Lodha Developers, is one of the leading real estate […]
Most economies won’t return to pre-Covid-19 activity levels by 2022: Moody’s
NEW DELHI: Moody’s Investors Service on Thursday said the credit downturn arising out of COVID-19 will be short-lived but most economies will not return to pre-pandemic activity levels until 2022. In the year since the World Health Organisation (WHO) declared COVID-19 a pandemic on March 11, 2020, the virus has disrupted the global economy and triggered […]
Meghalaya Chief Minter presents tax-free deficit budget
SHILLONG: Meghalaya Chief Minister Conrad K Sangma on Wednesday presented a deficit budget for the financial year 2021-22 without proposing any new tax. It is estimated that the total receipts will be Rs 17,509 crore including borrowings to the tune of Rs 2,247 crore, said Sangma who also holds the finance portfolio. The total expenditure […]
Nearly 10% of workers will seek to trick AI-driven tracking systems by 2023: Gartner
NEW DELHI:Gartner predicted that by 2023, more than one-in-ten workers will seek to trick artificial intelligence (AI) systems used to measure employee behaviour and productivity. Such systems have seen a significant uptick in use in the wake of the COVID-19 pandemic. “Many businesses are making a permanent shift to full- or part-time remote work, which […]
RBI keeps policy rate unchanged fourth time in a row
NEW DELHI: Reserve Bank of India (RBI) on Friday decided to leave benchmark interest rate unchanged at 4 per cent but maintained an accommodative stance, implying rate cuts in the future if need arises to support the economy hit by the COVID-19 pandemic. The benchmark repurchase (repo) rate has been left unchanged at 4 per […]
India will spend $130 billion on military modernisation says Rajnath Singh amid border row with China
BENGALURU: India is vigilant in the face of attempts to change status quo at its border and prepared to defeat any misadventures to defend its territorial integrity, Defence Minister Rajnath Singh said on Wednesday, amid the continued military standoff with China. “We have long witnessed unfortunate attempts to employ force to change the status quo at […]
Pharma industry has risen to occasion during Covid-19 pandemic: Satish Reddy
NEW DELHI: The Indian pharma industry has risen to the occasion and has made efforts to ensure that medicines and vaccines reach people during the pandemic, Dr Reddy’s Laboratories Chairman Satish Reddy said on Friday. Speaking at the 25th Wharton India Economic Forum, he said the Indian pharma industry ensured the continuity of supplies. He […]
When the silver screen went dark: Bollywood counts its losses in year of Covid-19 pandemic
By Komal Panchamatia MUMBAI: As productions halted, theatres shut their doors and audiences settled down in front of their screens, the Hindi film industry hit pause button in the year that was resulting in revenue losses of maybe thousands of crores and many thousands of workers forced into unemployment. The coronavirus pandemic scripted a tale […]
Donald Trump signs $900 billion Covid-19 pandemic relief package
WEST PALM BEACH:President Donald Trump has signed a $900 billion pandemic relief package, ending days of drama over his refusal to accept the bipartisan deal that will deliver long-sought cash to businesses and individuals and avert a federal government shutdown. The massive bill includes $1.4 trillion to fund government agencies through September and contains other […]
Despite Covid-19 pandemic, Maharashtra proves ‘magnetic’ for investors
NEW DELHI: Amid the Covid-19 pandemic, Maharashtra remains the biggest magnet for investors, attracting a whopping Rs 1.12 lakh crore plus worth of industrial investments in the past six months, Chief Minister Uddhav Thackeray said on Tuesday. The state signed 25 fresh MoUs with investment commitments of Rs 61,000 crore spanning 15 different sectors, with […]
Ola group to set up electric two-wheeler factory in Tamil Nadu
NEW DELHI: Tamil Nadu Chief Minister Edappadi K. Palaniswami on December 14 signed 18 MoUs entailing investments to the tune of Rs 19,995 crore with an employment potential for 26,509 persons. One of the primary investors, the State has managed to attract in the time of the global COVID-19 pandemic is Ola Electric Mobility, which […]
Public institutions, private sector together can help developing economies overcome pandemic: Satya Nadella
NEW DELHI: Microsoft CEO Satya Nadella on Saturday said public institutions and the private sector working together can help developing economies to recover from the pandemic and “catch-up growth”. He also emphasised on the need for a “social contract” between the government, private sector and the broad civic society that allows creation of harmony to […]
Nirmala Sitharaman reviews implementation of Aatma Nirbhar Bharat Package with Secretaries
NEW DELHI: Prime Minister Narendra Modi had announced a special comprehensive economic package to fight the COVID-19 pandemic in India. He gave a clarion call for AatmaNirbhar Bharat Abhiyanor a Self-Reliant India Movement. The Prime Minister also outlined five pillars of AatmaNirbhar Bharat – Economy, Infrastructure, System, Vibrant Demography and Demand. Following the call of […]