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ECONOMY NEWS - Page 111
RBI offers more funds to 26 sectors identified by Kamath Committee
December 5, 2020 00:58 IST
The RBI had announced the TLTRO on Tap scheme on October 9, 2020 which will be available up to March 31, 2021. Accordingly, it was decided to conduct on tap
RBI Monetary Policy: RBI keeps repo rate unchanged at 4%, maintains accommodative stance
December 4, 2020 13:29 IST
RBI Monetary Policy 2020: On GDP growth, the RBI now projects the real GDP growth for FY21 at -7.5 per cent from the -9.5 per cent it projected in their earlier meeting. Q3 growth is seen at 0.1 per cent and Q4 growth is seen at 0.7 per cent.
Govt expects better Q3 results, doesn’t see repeat of Q1 contraction in GDP
December 4, 2020 07:34 IST
GDP in Q3 is expected to be better than in Q2 due to a broad-based improvement in various economic activity indicators, even as some of the crucial data points are starting to moderate.
RBI likely to maintain ‘accommodative’ stance in ongoing policy review: Assocham
December 3, 2020 17:53 IST
It also said that the accommodative stance would reflect the RBI's commitment to keep the lending rates benign to support growth, hit by the COVID-19 pandemic.
Indian economy witnessing V-shaped recovery: Finance Ministry report
December 3, 2020 14:53 IST
The growth drivers have obtained the largest support from agriculture followed by construction and manufacturing, it said, adding, the contact-sensitive services sector has also contributed although mainly through logistics and communication.
Services sector: Bisiness activity rises for 2nd straight month
December 4, 2020 00:36 IST
The seasonally adjusted India Services Business Activity Index posted above the critical 50 mark that separates growth from contraction for the second month in a row during November.
PV sales growth sustains on pent-up demand, festive high
December 2, 2020 12:20 IST
While MSIL announced sale of 1,35,775 units of passenger vehicles (PVs) in November, witnessing a 2.4 per cent dip in sales over that in the corresponding period last year, Hyundai Motor India Ltd — the second largest car manufacturer — announced a 9.4 per cent rise in sales in last month.
‘Pace of manufacturing activity slows in Nov, PMI hits 3-month low’
December 2, 2020 12:38 IST
While posting 56.3 in November, the seasonally adjusted IHS Markit India Manufacturing Purchasing Managers’ Index (PMI) highlighted a strong improvement in business conditions, the headline number was down from 58.9 in October to a three-month low.
Natural Gas Pipeline Tariffs: Existing pacts under stress, industry says will mount legal challengeSubscriber Only
December 2, 2020 06:22 IST
The tariff regime notified by the current two-member PNGRB will likely face legal challenges due to the impact of the new norms on existing agreements between suppliers and consumers of natural gas.
Karnataka: ‘Toyota Bidadi unit strike may spread to other industries’
December 3, 2020 08:18 IST
The two car manufacturing plants at the TKM’S Bidadi unit had gone into an initial lockdown on November 10 after the union called a strike over suspension of an employee due to “breach of discipline and unacceptable behaviour within the factory premises”.
Q2 GDP data, vaccine hopes propel Sensex closer to 45K
December 2, 2020 06:08 IST
The Sensex rallied 506 points to 44,655.44 and the NSE Nifty index gained 140 points at 13,109.05 as the rally fuelled by foreign portfolio investors gathered momentum.
Eye on high retail inflation, RBI may maintain status quo
December 2, 2020 07:24 IST
Bankers and rating agencies said the Monetary Policy Committee is expected to factor in its decision-making the nascent signs of improvement in the domestic economy.
GST mop-up above Rs 1 lakh cr for 2nd straight month in Nov
December 2, 2020 05:55 IST
GST collections, which had slumped to a record low of Rs 32,172 crore in April, after the government imposed a nationwide lockdown to curb the spread of the coronavirus, has been picking up thereafter and has remained above Rs 1 lakh crore mark for two consecutive months now.
GST revenue at Rs 1.04 lakh crore in November
December 1, 2020 14:51 IST
This is the second straight month in the current fiscal when GST revenue has topped Rs 1 lakh crore.
India’s manufacturing PMI slips to three-month low in November
December 1, 2020 14:12 IST
The seasonally adjusted IHS Markit India Manufacturing Purchasing Managers' Index (PMI) fell from 58.9 in October to a three-month low of 56.3 in November, indicating that the manufacturing sector growth remained strong, despite losing traction.
India’s consumer spending to return to growth in 2021: Fitch Solutions
November 30, 2020 18:13 IST
Fitch Solutions forecast a return to pre-COVID-19 levels only over the second half of 2021 and 2022.
Budget FY-Plan to boost fund infusion for infra projectsSubscriber Only
November 30, 2020 05:12 IST
Extant regulatory norms effectively bar these investors, that bring in patient capital, from funding private-sector special purpose vehicles (SPVs), while most infrastructure firms are set up as SPVs.
Competition Bill: Options for faster case disposal, CCI to name probe arm chiefSubscriber Only
November 30, 2020 09:49 IST
The head of the investigative arm of the CCI, the Director-General (DG), is currently appointed by the Centre. Industry bodies and experts had opposed the proposal to give this authority to the competition watchdog, noting that such a move may compromise the independence of the DG.
Will award projects worth Rs 2 lakh crore by FY21, Covid has made us more aggressive: NHAI ChairmanSubscriber Only
November 30, 2020 09:58 IST
NHAI Chairman Sukhbir Singh Sandhu tells The Indian Express that COVID has made the organisation more aggressive in pushing targets; works worth Rs 2 lakh crore will be awarded this fiscal, and that NHAI is in the process of identifying and weeding out non-performers who delay work
Now, Punjab too accepts Centre’s borrowing option
November 29, 2020 01:15 IST
Punjab will get permission for additional borrowing of Rs 3,033 crore (0.5% of its GSDP).
‘Govt considers cancelling GST registration of non-compliant assessees’
November 29, 2020 01:10 IST
Sources said tax officers have been directed to follow up personally with these defaulting taxpayers so that their GSTR-3B returns due for the month are filed by November 30.
For the world economy, a grim slog tempered by new hopesSubscriber Only
November 28, 2020 08:13 IST
With the United States suffering its most rampant transmission yet and with major nations in Europe again under lockdown, prospects remain grim for a meaningful worldwide recovery before the middle of next year and far longer in some economies.
GDP shrinks 7.5% in Q2; manufacturing picks up, services sector worst hit
November 28, 2020 09:25 IST
Encouraging, but need to be cautious due to Covid: CEA
Core industries’ output shrinks for 8th straight month in October
November 28, 2020 01:01 IST
The production of eight core sectors had contracted 5.5 per cent in October 2019, data released by the Commerce and Industry Ministry showed on Friday.
FDI up 15% to $30 billion in 1st half of fiscal year
November 28, 2020 00:54 IST
Sectors which attracted maximum foreign inflows during April-September 2020-21 included computer software and hardware ($17.55 billion), services ($2.25 billion), trading ($949 billion), chemicals ($437 million) and automobile ($417 million).
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