Congress claims India’s debt under Narendra Modi government risen to Rs 155 lakh crore, demands white paper on economy
NEW DELHI: The Congress on Saturday alleged that India’s debt has nearly ”tripled” to Rs 155 lakh crore in the nine years under Prime Minister Narendra Modi and demanded a white paper on the state of the economy. Congress spokesperson Supriya Shrinate alleged the Modi government’s ”economic mismanagement” is responsible for the present state of […]
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 […]
Indian economy fast-paced under PM Narendra Modi’s rule, says Amit Shah
CHENNAI: Union Home Minister Amit Shah on Saturday said the country witnessed fast-paced economic growth under the leadership of Prime Minister Narendra Modi and would achieve the USD 5-trillion economy goal by 2025. He said welfare schemes announced by the NDA government, including PM Awas Yojana for housing, and Swacch Bharat Abhiyan for construction of […]
Rupee is not sliding, dollar is strengthening, says India’s Finance Minister in US
WASGINGTON: Finance Minister Nirmala Sitharaman has said that the rupee has not weakened but it is the dollar that has strengthened, as she defended the 8 per cent slide in the value of Indian currency against the greenback this year. Speaking to reporters after attending the annual meetings of the International Monetary Fund (IMF) and […]
India would be $25 trillion economy in 25 years: NaBFID Chairman K V Kamath
NEW DELHI: India is expected to be a USD 25-trillion economy in 25 years, veteran banker and chairman of National Bank for Financing Infrastructure and Development K V Kamath said on Tuesday. NaBFID was set up by the government last year to support the development of long-term infrastructure financing in the country. Kamath also said […]
UK announces launch of free trade agreement negotiations with India
NEW DELHI: The UK government on Thursday announced the launch of free trade agreement (FTA) negotiations with India, describing it as a “golden opportunity” to put British businesses at the “front of the queue” of the Indian economy. British Prime Minister Boris Johnson said an FTA would take the country’s historic partnership with India to […]
India Inc’s revenue likely grew 18-20% on-year to Rs 8.2 trillion in 2nd quarter
NEW DELHI: Higher commodity prices and continued revival in demand for consumer discretionary products likely lifted corporate revenue 18-20 per cent on-year to Rs 8.2 lakh crore in the second quarter of this fiscal, indicates a CRISIL Research study of 300 companies (excluding from the financial services and oil sectors) that account for 55-60 per […]
Agriculture universities important for strengthening economy: Sharad Pawar
NEW DELHI: NCP president and former Union agriculture minister Sharad Pawar on Thursday said agricultural universities are essential for strengthening the country’s economy. He was speaking at a function to virtually inaugurate the D Y Patil Agriculture and Technical University located at Talsande in Maharashtra’s Kolhapur district. “If the agricultural growth and progress is evident, […]
GST will help in achieving the vision of five trillion dollar Indian economy by 2025
NEW DELHI: India’s Road Transport & Highways and MSME Minister Nitin Gadkari has said that GST will help achieve the vision of five trillion dollar Indian economy by 2025. Addressing a webinar on the “GST Day” on the theme “THE JOURNEY OF GST AND WAY FORWARD – AATMANIRBHAR BHARAT” organised by the Institute of Cost […]
Narendra Modi government open to more measures to boost economy
NEW DELHI: The Narendra Modi government is open to coming out with more measures to boost the economy which has been hit by the second wave of the coronavirus pandemic, says Chief Economic Advisor (CEA) K V Subramanian. He, however, added that the demand for a fresh stimulus package has to be considered against the […]
Indian economy heading towards V-shaped recovery in 2021: Assocham
NEW DELHI: India’s economy is showing decisive signs of a ‘V-shaped’ recovery in 2021 with the return of consumer confidence, robust financial markets, an uptick in manufacturing and exporters braving it out in the global market with never-say-die spirit, Assocham said on Sunday. The industry chamber said it expects immense accruals of economic benefits from […]
India ushering in rapid structural reforms to become USD 5 trillion economy by 2025: Piyush Goyal
NEW DELHI: India is strengthening the entire ecosystem to achieve Prime Minister Narendra Modi’s dream of becoming a USD 5 trillion economy by 2025 through rapid structural reforms, Union Minister Piyush Goyal said on Saturday. Addressing the Pravasi Bharatiya Diwas conference, the Commerce and Industry Minister said: “We are working simultaneously to bring about a […]
Indian economy likely to contract 7.7 per cent in 2020-21
NEW DELHI: Indian economy is estimated to contract 7.7 per cent in 2020-21 compared to 4.2 per cent growth in the previous fiscal, mainly on account of the impact of the COVID-19 pandemic. As per the first advanced estimates of the national income released by the National Statistical Office (NSO) on Thursday, there was contraction […]
World Bank says Indian economy expected to contract by 9.6% in FY21
NEW DELHI: India’s economy is estimated to contract by 9.6 per cent in the fiscal year 2020-21, reflecting a sharp drop in household spending and private investment, and the growth is expected to recover to 5.4 per cent in 2021, the World Bank said on Tuesday. In its Global Economic Prospects report, the World Bank […]
Moratorium period exceeding six months may result in vitiating overall credit discipline: RBI to Supreme Court
NEW DELHI: A loan moratorium exceeding six months might result in vitiating the overall credit discipline , which will have a debilitating impact on the process of credit creation in the economy, the Reserve Bank of India has told the Supreme Court. In an affidavit filed in the apex court in the loan moratorium case, […]
Covid-19 impacted economy may see gradual recovery: RBI Governor
NEW DELHI: The recovery of the Indian economy reeling from the impact of the Covid-19 pandemic will be gradual, RBI Governor Shaktikanta Das said on Wednesday. Addressing the FICCI National Executive Committee Meeting, the central bank chief said that the country is still reeling under the impact of Covid-19 and will gradually come back on […]