ECONOMY NEWS - Page 110

Vegetables are displayed for sale at a market stall in New Delhi, India, on Sunday, Feb. 2, 2020. (Photographer: Ruhani Kaur/Bloomberg)

India’s retail inflation dips to 6.93% in November

December 14, 2020 18:25 IST

India CPI Inflation Rate November 2020: The retail inflation which is measured by the Consumer Price Index (CPI) was 6.93 per cent in November, government data revealed.

The divergence between the food component of wholesale and retail inflation rose to a five-month high of 5.5 per cent in November.

November: Wholesale, retail inflation diverge again

December 15, 2020 00:30 IST

Retail inflation based on the Consumer Price Index (CPI) had stood at 7.61 per cent in October, while WPI inflation was 1.48 per cent in October.

Gadkari calls on India Inc to find Swadeshi alternatives to imports

December 13, 2020 04:27 IST

The minister urged the industry to look into products, like magnets and lithium ion batteries, that are being imported and what is being produced domestically.

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Amitabh Kant: Need to focus on sunrise sectors

December 13, 2020 04:21 IST

NITI Aayog CEO Amitabh Kant said it has taken a series of measures to make India highly competitive in the global economy.

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Forex reserves surge to record $579.3 bn

December 13, 2020 02:55 IST

In the previous week ended November 27, the reserves had declined by $469 million to $574.821 billion.

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FinMin okays Rs 9,879 crore capex proposal of 27 states

December 13, 2020 02:52 IST

The capital expenditure projects have been approved in diverse sectors like, health, rural development, water supply, irrigation, power, transport, education, urban development.

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India’s economic recovery faster than expected, says PM Modi

December 12, 2020 14:45 IST

Modi emphasised on the priority given to “saving lives” during the pandemic and said that the “the government's policies and actions were oriented towards that.”

The department has identified 28,635 taxpayers who have failed to file GSTR-3B returns for over 6 months as of December 1.

Govt cancels 1.63 lakh GST registrations

December 12, 2020 02:15 IST

Sources said GST entities that had not filed their GSTR-3B returns for over six months were first issued the cancellation notices and, then, their registrations were cancelled in accordance with the standard operating procedure.

Within the PV segment, there was high growth in the utility vehicle segment as their demand rose 17.2 per cent at 1,03,525 units, as against 88,361 units sold in November last year. (Source: Bloomberg/Representational)

Festive demand drives auto sales: PVs up 4.65%, two-wheelers 13.4%

December 12, 2020 02:12 IST

Even as November turned out to be a good month, industry insiders feel that sales growth going forward would depend more on the overall economic scenario.

Manufacturing output recorded growth of 3.5 per cent in October as against a 5.7 per cent contraction last year. (Representational)

Factory output rises to eight-month high on manufacturing, electricity boost

December 12, 2020 02:06 IST

Factory output had contracted by 6.6 per cent in October 2019. Cumulatively, factory output for April-October has shrunk by 17.5 per cent as against 0.1 per cent growth in the year-ago period.

Department of Economic Affairs Secretary Tarun Bajaj. (Photo source: Twitter/@FinMinIndia)

Divestment policy to be far more ambitious: DEA Secy

December 12, 2020 02:02 IST

“We are positive. We are cautiously optimistic on the economic front. We are hoping that the third and the fourth quarter will be better than the first and second,” Department of Economic Affairs Secretary Tarun Bajaj said.

15th Finance Commission chairman N K Singh.

NK Singh: Central schemes need more rationalisation

December 12, 2020 07:37 IST

Require panel to review allocation of legislative powers between Centre & states in Schedule VII of Constitution, said 15th Finance Commission Chairman NK Singh.

IIP Data October 2020: India’s industrial output climbs 3.6% in October, says Govt data

December 11, 2020 18:36 IST

IIP India Growth Rate Data October 2020: The industrial growth so far in the fiscal year 2020-21 (April-October) has contracted 17.5 per cent, compared to a 0.1 per cent rise in the corresponding period year ago, the data from Ministry of Statistics & Programme Implementation (MoSPI) showed.

Fitch revises India GDP forecast, sees contraction at 9.4%

December 8, 2020 10:41 IST

In its Global Economic Outlook, Fitch said the coronavirus recession has inflicted severe economic scarring and the country needs to repair balance sheets and increase caution about long-term planning.

In the previous week ended November 20, the reserves had risen by $2.518 billion to reach a high of $575.29 billion.

Forex reserves slip off record high, at $574.8 bn for week ended November 27

December 6, 2020 01:39 IST

Weekly data released by the Reserve Bank of India (RBI) showed that FCA rose by $352 million to $533.455 billion.

The borrowing scheme under a special window was operationalised on October 23 and the Centre has so far borrowed Rs 30,000 crore.

GST shortfall: Jharkhand opts in, all states now onboard Centre’s borrowing plan

December 6, 2020 01:16 IST

Jharkhand will get Rs 1,689 crore through the special borrowing window to meet the GST implementation shortfall, while it has been permitted to raise an additional Rs 1,765 crore.

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Citing inflation concern, RBI holds key rate; says recovery needs supportSubscriber Only

December 5, 2020 04:40 IST

In its bi-monthly monetary policy, the central bank also offered more funds to 26 stressed sectors in the Covid-hit economy to maintain the tempo of the recovery.

RBI says banks reluctant to lend to big business

Yet to take decision on industrial houses in banking, says Shaktikanta DasSubscriber Only

December 5, 2020 01:17 IST

The decision to allow industrial houses to control banks has evoked much debate and controversy at a time when there have been multiple bank failures leading to bailouts.