Economy News

Jet employees meet Jaitley, appeal for govt’s support in reviving airline

On April 17, Jet Airways announced temporary closure of the airline’s operations after a consortium of bankers led by State Bank of India refused immediate fund infusion of Rs 983 crore into India’s oldest private airline.

HDFC Bank profit rises 22.6% in Q4; Gross NPAs up at `11,224 crore

According to the bank, provisions and contingencies for the latest quarter were Rs 1,889.2 crore (consisting of specific loan loss provisions Rs 1,431.2 crore, general provisions Rs 191.2 crore and other provisions Rs 266.9 crore) as against Rs 1,541.1 crore in the year ago period.

For rating agencies, panel suggests regulator-pays model; industry players argue for time tested issuer-pays model

Even as industry players argued in their discussions with the finance ministry that issuer pays model is time tested and used by most countries, the government and the Securities and Exchange Board of India (SEBI) are reviewing the regulations to incorporate the Committee’s suggestions

India’s growth trajectory holds immense potential for global stakeholders: Sinha

Earlier this month, the World Bank said India's GDP growth was expected to accelerate moderately to 7.5 per cent in fiscal year 19-20, driven by continued investment strengthening, particularly private-improved export performance and resilient consumption.

Protectionism doesn’t really help preserve jobs: Raghuram Rajan

Delivering the keynote address at the 2019 ECOSOC Forum on Financing for Development at the UN Headquarters on Monday, Rajan said the open liberal democratic market system that brought the world enormous prosperity in the six decades or so after the Second World War is now under attack.

At 3.18%, March wholesale inflation hits 3-month high on costlier food, fuel

Food articles’ inflation has been rising steadily for the last five months. Inflation in the fuel and power category also rose to 5.41 per cent, from 2.23 per cent in February.

CBDT outlines Apr-Jun action plan, sets June 30 deadline to dispose of demonetisation cases

The CBDT has already issued directions to tax offices across the country to probe financial transactions of about three lakh firms, de-registered by the government for their dubious financial credentials, for tax evasion and money laundering

CERC nod to higher tariff for Adani Power’s capacities at Mundra plant

The regulator also allowed pass through of coal costs, subject to a cap of $110/tonne. Additionally, it allowed extension of PPA with GUVNL by another 10 years after completion of the 25-year tenure by 2032.

February IIP slips to 20-month low, retail inflation for March inches up

Manufacturing output in Index of Industrial Production (IIP) slipped again into negative territory after a gap of two months, contracting 0.3 per cent in February as against a growth of 8.4 per cent in the year-ago period and 1.0 per cent growth in previous month.

Retail inflation inches up to 2.86 per cent in March

The inflation based on Consumer Price Index (CPI) was 2.57 per cent in February this year. On yearly basis, it was 4.28 per cent in March 2018.

IMF trims India’s FY20 growth forecast to 7.3%

IMF’s forecast for India lower than that of World Bank (7.5%) and ADB (7.2%).

President Donald Trump says India charging US over 100 per cent tariffs on many products

Addressing the Republican Jewish Coalition in Las Vegas on Saturday, Trump said: "We have a case where a certain country, India, is charging us... what great country, great friend, Prime Minister (Narendra) Modi -- charging us over 100 per cent for many things".