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Saturday, November 28, 2020

Q2: Sales remain weak, cos wary of spurt in consumption

November 9, 2020 2:38:56 am

Without a meaningful increase in revenues, it might be difficult for companies to expand operating margins further since purchasing power in urban demand appears to be somewhat muted.

Krishnamurthy V Subramanian: There is a definite fiscal space, to push demand. And it can be done mainly through infrastructure

November 9, 2020 7:21:58 am

As CEA, Krishnamurthy V Subramanian is a key influencer on economic policy-making in India.

2-paced, V-shaped recovery on; there is room for fiscal spending, says CEA

November 8, 2020 1:05:05 am

Speaking at the Idea Exchange organised by The Indian Express, Chief Economic Adviser Krishnamurthy Subramanian said enhanced fiscal space could be used to push demand by focusing primarily on infrastructure.

Insurers receive Covid claims worth Rs 7,700 cr; premiums jump up to 100%

November 8, 2020 1:02:00 am

he rising number of claims and widening of illnesses under health policies have also pushed up premiums by up to 100 per cent, raising concern among senior citizens.

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Dharmendra Pradhan: Consensus on including LNG under GST soon

November 7, 2020 1:30:22 am

According to a government release, Pradhan said the call from industry to include LNG under the indirect tax regime was a genuine demand and that a consensus was likely to develop on the issue soon.

FM Sitharaman: In-time compliance needs to be promoted … welfare activity of govt shouldn’t suffer

November 7, 2020 1:26:58 am

Finance Minister Nirmala Sitharaman also stressed on the need for more digital transactions so that they are monitorable and the gross domestic product (GDP) is not underestimated.

Unified Payments Interface: 30% cap done to ‘protect ecosystem’ but may end up being an own goal

November 7, 2020 1:06:54 am

A senior executive at a fintech firm said banks were also concerned about the load that a sudden rise in transaction volumes could put on their systems.

Rajasthan picks Option 1 to meet GST shortfall

November 6, 2020 3:44:28 am

With Rajasthan joining in, 22 states and 3 UTs have opted for the borrowing plan proposed by the Centre to meet the `1.83 lakh crore shortfall. Kerala, Punjab, West Bengal, Chhattisgarh, Jharkhand are yet to pick their option.

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India’s services activity grows in October for first time in 8 months

November 4, 2020 11:00:50 am

The Nikkei/IHS Markit Services Purchasing Managers' Index climbed to 54.1 in October from September's 49.8. It was the highest reading since February and comfortably above the 50-mark separating growth from contraction.

PM Modi to launch Ropax Ferry Service between Bhavnagar and Surat on Nov 8

PM Modi to meet biz leaders tomorrow to pitch India investments

November 4, 2020 12:51:35 am

As per a release, VGIR 2020 will focus on discussions around India’s economic and investment outlook and the government’s vision for the path to a $ 5 trillion economy.

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‘Economy moving faster’ but roadblocks remain, shows data

November 4, 2020 12:50:36 am

Economic Affairs Secretary Tarun Bajaj said the government expects high price levels to cool down with the arrivals of the new crop, adding that another round of stimulus measures is likely to be unveiled shortly.

October Data: Indicators hint at demand revival; caution prevails

November 3, 2020 2:05:12 am

This lends some credence to the notion that the economy may be healing faster from the Covid-induced shock than anticipated earlier.

India’s manufacturing PMI rises for third straight month; output rises at quickest pace since Oct 2007

November 2, 2020 11:41:50 am

The headline seasonally adjusted IHS Markit India Manufacturing Purchasing Managers' Index (PMI) rose from 56.8 in September to 58.9 in October, and pointed to the strongest improvement in the health of the sector in over a decade.

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Rs 1.05 lakh crore: GST collections up again, now at 8-month high

November 2, 2020 6:53:07 am

But overall, data show y-o-y 20.2% decline during April-October

October sales rise for automakers, festive buying propels domestic numbers

November 2, 2020 10:52:13 am

During the Navratri period, while MSI retailed nearly 60 per cent of its total domestic sales in October, Hyundai retailed nearly 50 per cent of its domestic sales in the 10-day period.

Loan moratorium: Banks told to credit ‘interest on interest’ to borrowers, RBI tells SC

November 1, 2020 9:53:38 pm

The Reserve Bank of India (RBI), in an affidavit filed through Assistant General Manager Prasanta Kumar Das, referred to the October 23 additional response of the Ministry of Finance and said the federal bank has also acted in pursuance of that by issuing a notification to banks and FIs recently on refund of extra money to the borrowers.

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GST collections cross Rs 1 lakh crore in October for first time in 8 months

November 1, 2020 11:59:41 am

The revenue for the month is 10 per cent higher than Rs 95,379 crore collected in the same month last year.

Forex reserves surge $5.4 billion to all-time high

November 1, 2020 1:00:52 am

During the reporting week, the surge in the forex kitty was mainly on account of an increase in foreign currency assets (FCA), a major component of the overall reserves.

HUL chief Sanjiv Mehta: Neighbourhood grocer, online channels stood out during pandemic

HUL chief Sanjiv Mehta: Neighbourhood grocer, online channels stood out during pandemic

October 31, 2020 12:49:45 pm

The 3 per cent growth in the September quarter, Mehta said, came from 80 per cent of HUL’s portfolio — food, nutrition and hygiene products — growing at 10 per cent.

Trade union rules left to states to frame, 15-day lay-off notice

October 31, 2020 1:12:49 am

In its draft rules, the Labour and Employment Ministry has proposed changes in the conditions for workers to stirke.

Recovery is ‘two-speed’; stressed sectors, people need a safety net: Uday Kotak at eAdda

October 30, 2020 8:19:26 am

Speaking at the Express e-Adda organised by The Indian Express, Kotak said sectors including consumer goods, e-commerce, IT, digital, telecom, and pharmaceuticals were doing much better, while aviation, tourism, hospitality, and some general services were facing challenges.

Oct-Dec 2019: Urban joblessness eases, labour activity rises

October 30, 2020 3:04:50 am

As per the quarterly Periodic Labour Force Survey, urban joblessness in the 15-29 age group was 19.2% in October-December, below 20.6% in July-September 2019.

Core industries’ output shrinks for 7th month

October 30, 2020 10:36:47 am

In September 2019, the production of eight core sectors had shrunk 5.1 per cent, data released by the Commerce and Industry Ministry showed on Thursday.

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All eyes on economy, Uday Kotak is guest at Express e-Adda today

October 30, 2020 8:20:42 am

To discuss the way forward and reforms needed to boost growth, Uday Kotak, MD & CEO, Kotak Mahindra Bank, and President, Confederation of Indian Industry (CII), will be the guest at the Express e-Adda Thursday.

Gadkari to inaugurate, lay foundation stones for `20K-cr projects in Haryana

For MSMEs, cut in input costs to help quick revival, says Gadkari

October 28, 2020 6:19:10 am

The MSME sector should make use of technology, innovation, research, Gadkari said.

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