The rise in forex reserves over the last four months has also come as a breather for the country’s rising external debt, which rose significantly over last couple of years from $485 billion in June 2017 to $557 billion in June 2019.
A bench led by Chief Justice SA Bobde issued notice to the Cyrus Mistry group and also stayed the NCLAT’s January 6 order that rejected the RoC’s application for impleadment and modification.
The PSUs have told the SC that they were never heard on the issue before the order was passed and their revenues from their regular businesses were disproportionately higher than the income from the telecom business.
Undisclosed foreign assets of over Rs 1,000 crore and domestic evasion of over Rs 35 crore has been allegedly found by the I-T Department during its searches conducted against the Bharat Hotels group, which runs the hotel chain of Lalit Hotels, officials said.
The list of items that may see imposition of non-tariff barriers may include silk and garments, mobile charger, printer, electronic broadcasting equipment, toys, electrical lights, handicrafts, vegetables & fruit and copper alloys.
Citing limitations of monetary policy to push growth, Reserve Bank of India (RBI) Governor Shaktikanta Das on Friday said structural reforms and more fiscal measures are needed to revive growth.
Speaking at the World Economic Forum (WEF) 2020, she also said the world appears to be a better place in January 2020 and the factors driving this positive momentum include "receding trade tension after the US-China first phase trade deal and synchronised tax cuts, among others."
India Ratings said the present slowdown is due to abrupt fall in lending by NBFCs close on the heels of a slowdown in bank lending and reduced income growth of households.
Data accessed from the Securities and Exchange Board of India (Sebi) website shows that from an investment of Rs 361 crore by AIFs at the end of March 2013, the cumulative investment by AIFs grew to Rs 1.25 lakh crore by September 2019.
“There have been few issues about one-time passwords (OTPs) being received with some time lag on account of delay by the email service provider or local internet issues.
For the current calendar year 2020, India saw a sharp 1.2 percentage point cut in its growth forecast to 5.8 per cent, the biggest downward revision for any emerging market, which pulled down global growth forecast.
"Domestic demand has slowed more sharply than expected amid stress in the non-bank financial sector and a decline in credit growth," India-born IMF Chief Economist Gita Gopinath said.
Earlier Friday, Amazon founder and CEO Jeff Bezos said in Mumbai that the company was “investing to create a million new jobs here in India over the next five years”.
To achieve this target, the government will have to clock a monthly average of Rs 1,18,333 in the remaining period of this fiscal, which is 17.2 per cent higher than the monthly average of Rs 1,00,928 crore recorded during April-December, the first nine months of the financial year.
The DBS report noted that fiscal deficit in the first eight months of FY20, stood at 15 per cent above target, driven by weak revenues.
Sources said nefarious elements among the customs broker community may be connected with these frauds, involving fictitious entities, existing only in virtual space through identity thefts with fake and morphed documents.
He argued that a large portion of the deficit is being used to finance consumption expenditure, which is typically not a healthy practice.
However, the trade deficit narrowed down to $11.25 billion due to the subsequent fall of imports during the same period.
Vegetable inflation jumping to an over six-year high and pulses inflation rising to a more than 3-year high were the key reasons driving retail inflation.
The 10-year benchmark yield had ended at 6.60 per cent on Monday, compared to the previous close of 6.59 per cent on Friday. When bond yield rises, prices decline.