ECONOMY NEWS - Page 107

As per the memorandum, the price of cement (50 kg) in the last two years from January 2019 to December 2020 has increased from Rs 360 to Rs 430, whereas steel price (per tonne) has increased from Rs 40,000 to Rs 58,000 in the same period.
(Representational)

To spur growth & jobs, booster for construction and low-cost housingSubscriber Only

January 18, 2021 07:41 IST

One factor behind the exodus of migrants from cities during the pandemic was their lack of access to safe, affordable housing in urban clusters.

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PM announces Rs 1,000-crore startup India seed fund: ‘Our startups should be global giants in their service areas’

January 17, 2021 01:28 IST

“Going ahead, the government will provide guarantees to help startups raise debt-capital. We are trying to build a startup ecosystem which functions on the ‘of the youth, by the youth, for the youth’ mantra,” the Prime Minister said.

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Forex reserves rise to $586 bn

January 17, 2021 01:26 IST

In the previous week ended January 1, the reserves had increased by $4.483 billion to $585.324 billion.

UKIBC seeks parity in corporate tax rates for Indian, foreign cos

January 17, 2021 01:15 IST

As part of pre-Budget consultations with the Finance Minister, the UK-India Business Council also recommended raising the FDI limit in defence and insurance sectors.

RBI open to bad bank proposal: Shaktikanta Das

January 17, 2021 07:51 IST

“If there’s a proposal to set up a bad bank, the RBI will look at it. We have regulatory guidelines for asset reconstruction companies,” RBI Governor Shaktikanta Das said while delivering the Nani Palkhivala Memorial Lecture.

Piramal group likely to bag DHFL as lenders back Rs 37,250-crore bidSubscriber Only

January 16, 2021 07:23 IST

The Committee of Creditors (CoC) is expected to officially clear the proposal in the coming days and forward it to the National Company Law Tribunal.

A customer counts Indian one-hundred rupee bank notes before depositing them in India. (Photographer: Dhiraj Singh/Bloomberg)

India’s medium-term growth to slow to around 6.5% after initial rebound: Fitch Ratings

January 14, 2021 17:11 IST

In a report titled 'India Set for Slow Medium-Term Recovery', Fitch said after an initial strong rebound in the fiscal year beginning April 2021, growth will slow to around 6.5 per cent a year over FY23-FY26 (April 2022 to March 2026).

A vendor sits at a fruit stall at Crawford Market in Mumbai, India, on Tuesday, Dec. 11, 2018. (Photographer: Dhiraj Singh/Bloomberg)

December wholesale inflation slows to 1.22%

January 14, 2021 13:03 IST

WPI inflation: The rate of inflation based on WPI Food Index decreased from 4.27 per cent in November 2020, to 0.92 per cent in December 2020, as per the data released by the Department for Promotion of Industry and Internal Trade.

The Index of Industrial Production (IIP) contracted 1.9 per cent in November after having recorded a growth of 0.5 per cent in September and 3.6 per cent in October. IIP growth for October has now been revised to 4.2 per cent.

Factory output shrinks 1.9% in November, retail inflation for December eases to 4.59%Subscriber Only

January 13, 2021 03:36 IST

Retail inflation for December, data for which was also released, offered some relief to policymakers, with price levels easing to a 15-month low of 4.59 per cent on account of a dip in food inflation.

Vegetable vendors wear protective masks while waiting for customers at a market during a lockdown imposed due to the coronavirus in Mumbai, India, on Sunday, April 5, 2020. (Photographer: Dhiraj Singh/Bloomberg)

Retail inflation eases to 4.59% in Dec; IIP slips -1.9% in Nov: Govt data

January 12, 2021 18:29 IST

CPI Inflation Rate December, IIP Growth Rate November 2020: The retail inflation, measured through the Consumer Price Index (CPI) rose by 4.59 per cent in December. Separately, the factory output, which is measured in terms of Index of Industrial Production (IIP), contracted by -1.9 per cent in November.

A farmer harvests rice by hand at a field in Gaya district, Bihar, India, on Friday, Oct. 23, 2020. (Photographer: Prashanth Vishwanathan/Bloomberg)

Budget 2021-22: Govt should provide additional funds, incentives for agri sector, say experts

January 12, 2021 13:54 IST

The direct benefit transfer (DBT) scheme should be utilised more to support farmers instead of giving subsidies, they added.

The growth was on the back of a good crop season, better offers in the two-wheeler segment, new launches both in passenger vehicle as well as two-wheeler segments and a fear of price increase in January.

First time in FY21: Retail auto sales post growth in December

January 12, 2021 03:18 IST

According to data released by the Federation of Automobile Dealers Associations (FADA) on Monday, retail sales across categories grew 11 per cent during December on a year-on-year (y-o-y) basis.

Inching closer to the 50,000-level, the benchmark Sensex crossed the 49,000-mark, soaring 487 points to 49,269.32, while the NSE Nifty Index rose 138 points to 14,484.75 on buying support by foreign investors and domestic investors.

Sensex crosses 49K-mark on global rally, good Q3 results

January 12, 2021 03:02 IST

Most Asian markets rose following another record performance on Wall Street as investors cheered the prospect of a further massive stimulus for the US economy, with President-elect Joe Biden calling for a spending spree in the trillions of dollars.

Union Finance Minister Nirmala Sitharaman and Minister of State Anurag Thakur. (PTI)

Covid-19 safety takes Budget papers online

January 12, 2021 09:07 IST

Budget documents will be provided only through online means and Members of Parliament will get an e-version of these documents.

Government looks at ‘expenditure’ budget to aid higher growthSubscriber Only

January 11, 2021 07:41 IST

With the GDP expected to post a negative growth of 7.7 per cent in 2020-21, the government expects a strong rebound next financial year.

V Ramakrishnan: ‘Growth momentum will sustain as deal pipeline is healthy’Subscriber Only

January 11, 2021 04:18 IST

TCS has reported a stellar set of numbers for the December quarter, the strongest growth in last nine years.

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Across farm commodities: Growth silver lining but food inflation may be dark cloudSubscriber Only

January 9, 2021 13:31 IST

FAO's global food price index has hit the highest since November 2014.

Nirmala Sitharaman, Finance minister, National Infrastructure Pipeline, NIP, Ganga rejuvenation, indian express news

Economists call for accelerated privatisation and simpler GST

January 9, 2021 00:41 IST

Economists also emphasised the need for development of acceleration of public investment in infrastructure and public goods projects, especially on construction heavy projects to create immediate jobs.

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India’s GDP to contract 7.7% in current fiscal, advance estimates showSubscriber Only

January 8, 2021 06:56 IST

Out of a total eight sectors, agriculture and electricity generation are the only two that are projected to be in positive territory, with an estimated growth rate of 3.4 per cent and 2.7 per cent respectively.

‘India Inc using higher credit flows to meet liabilities, not investments’Subscriber Only

January 8, 2021 03:05 IST

While credit flows from banks depend on the liquidity position of banks that the firms are attached to, an increase in credit may not always find its way towards increasing investments, the RBI report said.

India’s 2020-21 GDP seen contracting 7.7%: Govt’s first advance estimate

January 7, 2021 20:17 IST

As per the first advanced estimates of the national income released by the National Statistical Office (NSO), the agriculture sector growth for FY 2020-21 is estimated at 3.4 per cent against 4.0 per cent in FY 2019-20. Also, mining sector estimate stood at (-)12.4 per cent for 2020-21 from 3.1 per cent in 2019-20.

Construction premiums halved in MaharashtraSubscriber Only

January 7, 2021 05:48 IST

In a step that will significantly bring down construction costs, the Cabinet announced lowering of construction premiums by 50 per cent across Maharashtra till December 31.

National Infra Pipeline: FM reviews progress of projects worth `3.6L crSubscriber Only

January 7, 2021 05:38 IST

This was the second review meeting by Sitharaman with various ministries and departments to monitor and accelerate the NIP project implementation.

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‘Services PMI slows down in Dec’Subscriber Only

January 7, 2021 05:39 IST

The PMI data released by IHS Markit showed that the Indian services sector continued to recover from the coronavirus-induced contractions seen through most of 2020, with output and new business rising for the third straight month in December.

Prime Minister Narendra Modi to interact with leading economists on Friday

January 6, 2021 16:57 IST

The meeting, being organised by the government think tank Niti Aayog will be held virtually and will also be attended by Niti Aayog Vice Chairman Rajiv Kumar and Niti Aayog CEO Amitabh Kant.