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Tuesday, June 02, 2020

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ECONOMY NEWS

PM Modi writes: A letter to the nation in the midst of a crisis that calls for firm resolve

May 30, 2020 11:24 am

PM Narendra Modi writes: Many feared that India will become a problem for the world when corona hits it. But today, through sheer confidence and resilience, you have transformed the way the world looks at us. You have proven that the collective strength and potential of Indians is unparalleled, compared even to the powerful and prosperous countries.

A year of misgovernance: NDA govt has presided over an economic crisis, and handled pandemic poorly

May 30, 2020 9:19 am

Ghulam Nabi Azad writes: While the economy was struggling, the Modi government dedicated itself to destroying the secular fabric of society. It blatantly attacked the very foundations of the Constitution and destroyed the federal structure of the country.

Explained: Will banks open fund tap to MSME sector? Govt guarantee helps, but a lot hinges on the fine print

May 16, 2020 12:40 pm

MSMEs, which make up for about 45 per cent of the country’s total manufacturing output, 40 per cent of exports, almost 30 per cent of the national GDP are stressed due to depleting internal reserves and low visibility of demand for next six months at least.

Prodded by US, Mexico aims to restart industrial plants

May 14, 2020 10:43 am

Mexico has been under pressure from U.S. officials to reopen auto assembly plants, in particular, because without them, integrated supply chains would make it hard for plants in the U.S. and Canada to reopen.

Economy reboot plan: UP plans Rs 2,000 crore loans to MSMEs, land bank for industries

May 14, 2020 10:13 am

Uttar Pradesh has one of the largest numbers of MSME units — around 90 lakh — in the country and the government claims that over three crore people are engaged in this sector in UP. The state also expects to be one of the biggest beneficiaries of the MSME package announced by the Centre.

UN forecasts pandemic to shrink world economy by 3.2%

May 14, 2020 8:56 am

The U.N.’s mid-year report said the impact of the coronavirus crisis is expected to slash global economic output by nearly $8.5 trillion over the next two years, wiping out nearly all gains of the last four years.

Covid-19 economic crisis: Bihar requests Centre for early release of local body funds

May 13, 2020 10:01 am

Bihar has also requested the Centre for raising the state’s borrowing limit under the Fiscal Responsibility and Budget Management Act to tide over the financial crisis.

UK starts state-backed loans for smallest firms

May 04, 2020 12:05 pm

But many companies said they struggled to secure bank approvals, putting pressure on Sunak to provide full state guarantees for commercial loans to the smallest businesses.

Nearly half of global workforce at risk of losing livelihoods due to COVID: ILO

April 30, 2020 4:36 pm

The ILO also stressed that international coordination on stimulus packages and debt relief measures will be critical to making recovery effective and sustainable.

We should plan for negative growth rate this FY, says Arvind Subramanian

April 28, 2020 8:42 pm

Express e-Adda highlights: As Covid-19 pushes the economy into a recession, Subramanian is speaking on the immediate and medium-term challenges facing the economy, the policy options before leaders, and the trade-offs there in.

ECONOMY VIDEOS

Congress has no faith in us or any other institution because it has no faith in itself: Narendra Modi

July 21, 2018 9:37 am

Prime Minister Narendra Modi said the Congress party has no faith in the government, the CJI, the RBI or any international organisation that gives data on India's growth. He said it is because Congress has no faith in itself.

Bank officials under CBI probe has risen 5 times in the last 4 months: News in Numbers

July 17, 2018 12:13 pm

The number of bank officers arrested or facing charges for being involved with bad loans has gone up five times in the last four months. Here’s the #NewsInNumbers. See more: https://bit.ly/2IM1j4c