ECONOMY NEWS - Page 101

Covid surge adding to uncertainty, RBI keeps key rate unchangedSubscriber Only

April 8, 2021 04:32 IST

The central bank, however, announced a bond-buying calendar which will ensure that borrowers reap the benefits of a low interest rate regime.

Shaktikanta Das: Localised lockdowns can dampen pick-up in demand

April 8, 2021 05:35 IST

The second wave of Covid-19 infections in India is accelerating at an unprecedented pace with the nation becoming only the second one after the US to report over 1,00,000 fresh cases in a day.

The schemes will together cost the government Rs 10,738 crore over five years.

PLI schemes for white goods, solar modules get Cabinet clearance

April 8, 2021 04:18 IST

Under the scheme for white goods, eligible investors in air-conditioners, LED lights and such components will be granted a total incentive of Rs 6,238 crore.

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RBI MPC outcome: Here’s what economists and market experts said after RBI kept rates unchanged

April 7, 2021 18:38 IST

The central bank's decision to keep rates unchanged for the fifth consecutive time is in line with the economic need to encourage growth, experts said.

IMF Chief Economist Gita Gopinath (Image: Reuters)

Evidence of normalisation of India’s economic activity: IMF chief economist

April 7, 2021 14:04 IST

On Tuesday, the IMF projected an impressive 12.5 per cent growth rate for India in 2021, stronger than that of China, the only major economy to have a positive growth rate last year during the COVID-19 pandemic.

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RBI Monetary Policy: Repo rate unchanged at 4%, accommodative stance as long as necessary

April 7, 2021 12:26 IST

RBI Monetary Policy 2021 announcements: The six-member Monetary Policy Committee (MPC) headed by Reserve Bank of India (RBI) Governor Shaktikanta Das kept the repo rate unchanged at 4 per cent, while the reverse repo rate also was kept unchanged at 3.35 per cent. Here's what the Indian central bank announced.

Securities and Exchange Board of India (Sebi) Chairman Ajay Tyagi.

Separation of CMD post must before deadline: Sebi chief

April 7, 2021 05:13 IST

According to the Sebi rules, the top 500 listed firms are required to separate the roles of Chairperson and MD/ CEO before April 1, 2022.

51 per cent of which are from the central PSUs, Central Board of Direct Taxes (CBDT) Chairman Pramod Chandra Mody said.

Vivad Se Vishwas: Govt nets Rs 54K cr, half of it from PSUsSubscriber Only

April 7, 2021 04:31 IST

The government had originally set a target to collect Rs 2 lakh crore by end of March 2020, but the pandemic upset the calculations.

Bajaj, a 1988-batch Indian Administrative Service (IAS) officer of the Haryana cadre, is currently secretary in the Department of Economic Affairs (DEA).

Bajaj named Revenue Secy, Seth DEA Secy

April 7, 2021 04:25 IST

Senior bureaucrat Tarun Bajaj was appointed revenue secretary as part of a top-level bureaucratic reshuffle by the Centre Tuesday.

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IMF projects India’s growth rate to jump to impressive 12.5 per cent in 2021

April 7, 2021 05:26 IST

Notably in 2020, India's economy contracted by a record eight per cent, the International Monetary Fund (IMF) said as it projected an impressive 12.5 per cent growth rate for the country in 2021.

RBI seen holding rates steady as virus cases mount

April 7, 2021 09:33 IST

In a Reuters poll, 65 of 66 economists surveyed said the RBI's monetary policy committee (MPC) will leave rates unchanged.

Employment declined in March, marking a year of job losses.

‘Manufacturing PMI falls to 7-month low in Mar’

April 6, 2021 04:17 IST

The country’s manufacturing sector activity weakened sharply in March, with the IHS Markit India Manufacturing Purchasing Managers’ Index (PMI) slipping to a seven-month low of 55.4 in March from 57.5 in February.

With the end of a challenging 2020-21, the crest of a brighter and self-reliant 2021-22 awaits India, the Finance Ministry report said.

‘Capex cycle in motion; economy to build back better and stronger’

April 6, 2021 04:07 IST

Having successfully managed the first wave of the coronavirus pandemic, India is well prepared to combat the scourge of the second wave, the Finance Ministry’s monthly economic report said.

A man is cleaning the name plate of Finance Ministry outside the North block on Thursday. (Express Photo by Renuka Puri. 24.01.2019)

India well prepared to combat second wave of COVID-19: Finance Ministry report

April 5, 2021 17:52 IST

At this juncture of the onset of the second wave, the report said, India is well prepared to combat the scourge of the virus.

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RBI’s Monetary Policy Committee starts deliberating on next monetary policy

April 5, 2021 15:36 IST

The Reserve Bank will announce the resolution of the Monetary Policy Committee (MPC) on April 7.

In PMI parlance, a print above 50 means expansion while a score below 50 denotes contraction. (Representative image)

Manufacturing activities in India eases in March; challenging times ahead: Survey

April 5, 2021 12:42 IST

The seasonally adjusted IHS Markit India Manufacturing Purchasing Managers' Index (PMI) fell from 57.5 in February to a seven-month low of 55.4 in March.

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For first time in 10 months, Mutual Funds invest in equities

April 5, 2021 05:31 IST

These outflows were mainly due to profit booking by investors amid rally in stock markets.

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Real returns from fixed deposits remain in the red

April 5, 2021 05:21 IST

While some lenders like State Bank of India (SBI) and HDFC have raised deposit rates in recent months, next week’s monetary policy review could determine the future course of rates.

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Net buyers for 3rd straight month: Vaccination, growth hopes help keep FPI tap on

April 5, 2021 05:14 IST

According to depositories data, FPIs invested Rs 10,482 crore into equities and Rs 6,822 crore in the debt segment during March.

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Tata Motors, Renault, Bajaj Auto in talks to use IT Min’s last mile delivery systemSubscriber Only

April 5, 2021 08:09 IST

The CSC, a special purpose vehicle of the IT Ministry, had in April last year started allowing its village level entrepreneurs the option to launch a Grameen e-store.

“We expect the RBI to keep rates on hold and maintain its accommodative stance at the upcoming meeting, as indicated by the MPC in the previous policy statement,” Morgan Stanley said in a report.

Covid impact on growth in focus, RBI likely to hold ratesSubscriber Only

April 4, 2021 00:59 IST

The Monetary Policy Committee (MPC) members, who will unveil the new policy on April 7, will have to do the tight rope walk in order to keep inflation under check and boost the growth.

In the reporting week ended March 26, 2021, the fall in reserves was on account of a decrease in foreign currency assets (FCA), a major component of the overall reserves.

After a rise, forex reserves decline to $579.2 billion

April 4, 2021 00:53 IST

In the previous week ended March 19, the forex kitty had increased by $233 million to $582.271 billion. It had touched a record high of $590.185 billion in the week ended January 29, 2021.

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Reliance Retail extends deal deadline by 6 months to Sept 30: Future Group

April 3, 2021 01:16 IST

Reliance Retail Ventures Ltd (RRVL) has extended the timeline for the “Long Stop Date” from March 31, 2021 to September 30, 2021, said a regulatory filing by Future Retail.

“They made the offer, but the finer details were never discussed. We refused them in the very initial stages that Grameen stores will not be sold,” a senior government official said. (Reuters)

Amazon, Walmart seek tie-ups, IT Min cites ‘independence’ to reject offersSubscriber Only

April 3, 2021 12:25 IST

Walmart India had approached with the offer sometime in February and had discussed the possibility of buying all the Grameen e-stores for expanding the reach of its own retail outlets as well as augmenting the capacity of Flipkart’s last-mile delivery.

GST collections at record high of Rs 1.23 lakh crore in March

April 1, 2021 16:27 IST

The gross GST revenue collected in the month of March 2021 stood at Rs 1,23,902 crore, of which central GST is Rs 22,973 crore, state GST is Rs 29,329 crore, integrated GST is Rs 62,842 crore (including Rs 31,097 crore collected on import of goods) and cess is Rs 8,757 crore (including Rs 935 crore collected on import of goods).