No slowdown for Marriott, will add 26 hotels by 2020

MUMBAI: At a time when the pace of economic growth has slowed, Marriott, which emerged as the largest foreign chain in India with 119 hotels, will open six properties this year and 20 more by 2020. “Hotels are not built in relation to the economic cycle. They are meant to last for decades through various … Read moreNo slowdown for Marriott, will add 26 hotels by 2020

The Sitharaghuraman show: Dear FM, economy needs corrective action, not blame game

By Mythili Bhusnurmath Former RBI governor Raghuram Rajan has a rare knack for wading into controversy, whether in office or out of it. Appointed by the UPA government, he repeatedly took potshots at the successor NDA government while still at the helm of the central bank. And has continued to do so after returning to … Read moreThe Sitharaghuraman show: Dear FM, economy needs corrective action, not blame game

In more bad news,Q1 commercial credit dips by 2.6%: Sidbi data

MUMBAI: Amidst the deepening slowdown across the economy, commercial credit demand has contracted 2.6 percentage points to Rs 63.80 lakh crore in the June quarter over the three months to March period, accompanied by a steep deterioration in asset quality, says a report. The contraction has been across all the four segments of the commercial … Read moreIn more bad news,Q1 commercial credit dips by 2.6%: Sidbi data

Indian economy on shaky ground: Nobel Prize-winning economist Abhijit Banerjee

“In the last five-six years, at least we could witness some growth, but now that assurance is also gone,” Abhijit Banerjee told a news channel from the US. Indian-American Abhijit Banerjee, who on Monday won the 2019 Nobel for Economics, said Indian economy is on a shaky ground. The data currently available do not hold … Read moreIndian economy on shaky ground: Nobel Prize-winning economist Abhijit Banerjee

Indian Economy In Crisis, Fiscal Deficit Actually At 8 %: Congress

New Delhi:  A day after government data revealed that factory output shrank by 1.1 per cent in August, the Congress on Saturday hit out at the government over economic slowdown and claimed that fiscal deficit is not at 3.3 per cent but beyond 8 per cent. Asserting that Indian economy has moved from recession to … Read moreIndian Economy In Crisis, Fiscal Deficit Actually At 8 %: Congress

Ravi Shankar Prasad cites success of three films to deny economic slowdown

MUMBAI: Indications of slowdown notwithstanding, Union minister Ravi Shankar Prasad on Saturday said three Bollywood movies generating business of Rs 120 crore on the October 2 holiday suggested the “sound economy” even as he dubbed “wrong” the NSSO report which had reportedly pegged unemployment rate at 45-year high in 2017. Days after the International Monetary … Read moreRavi Shankar Prasad cites success of three films to deny economic slowdown

Govt will miss fiscal deficit target of 3.3%: Bibek Debroy

NEW DELHI: Bibek Debroy, Chairman of the Prime Minister’s Economic Advisory Council, has said in an interview to Karan Thapar that the government will miss the fiscal deficit target of 3.3 per cent set in the Union Budget. Debroy said it’s hard to say by how much it would be missed, but he made it … Read moreGovt will miss fiscal deficit target of 3.3%: Bibek Debroy

Inflation likely to surge in Sept, but won’t ‘bring tears’ to RBI

Indian retail inflation probably reached a 12-month high in September, but still leaving room for further interest rate cuts because it’s expected to remain below the Reserve Bank of India’s target, according to a Reuters poll. An extended monsoon has delayed harvests and interrupted the supplies of vegetables like onions, a key ingredient in Indian … Read moreInflation likely to surge in Sept, but won’t ‘bring tears’ to RBI

From housing sops to corporate tax cut: Sitharaman’s key announcements since Budget 2019

In the fourth set of stimulus measures on Friday, Nirmala Sitharaman announced corporate tax rate cuts. Battling a six-year low economic growth and a 45-year high unemployment rate, the government has announced a slew of measures in a bid to arrest the slowdown. Union Finance Minister Nirmala Sitharaman, who also announced the Union Budget, has … Read moreFrom housing sops to corporate tax cut: Sitharaman’s key announcements since Budget 2019

View: It’s time the GST regime is totally overhauled

By Abheek Barman What on Earth could a European politician who died 336 years ago teach 21st-century economic ministers and mandarins? Well, Louis the 14th’s minister of finance Jean-Baptiste Colbert said, “The art of taxation is extracting the maximum feathers from the goose with the minimum amount of hissing.” Today, as finance minister Nirmala Sitharaman … Read moreView: It’s time the GST regime is totally overhauled

Instead of criticising, positive suggestions should be given: Sachin Pilot on economic slowdown

Pilot’s comments, however, did not mention any particular person or party. (File Photo) At a time when the country is going through an economic downturn, Rajasthan Deputy Chief Minister Sachin Pilot Thursday said that instead of criticising the government one should give positive suggestions to reverse the slowdown. “The first step is to accept reality … Read moreInstead of criticising, positive suggestions should be given: Sachin Pilot on economic slowdown

Is low inflation the culprit for India’s economic woes?

By Abheek Barua The relatively sparse attention paid to the role of past monetary policy mistakes in understanding the roots of the current slowdown is surprising. A closer scrutiny of recent monetary history offers better clues to the growth puzzle than hypotheses like demand saturation or changing consumption habits of millennials. Also, the tenure of … Read moreIs low inflation the culprit for India’s economic woes?

View: States outspend the Centre; crippling their fiscal capacity will harm the economy

As India develops, the role of its states in driving growth has become vital. The current centralising tendencies in the polity will harm the economy, besides generating centripetal forces. Within the dismal realm of economics, some parts can be particularly dreary — public finance, for one. However, a brief dip into Indian Public Finance Statistics … Read moreView: States outspend the Centre; crippling their fiscal capacity will harm the economy

Government Unable To Control Economy, Says Jyotiraditya Scindia

“The current government is unable to arrest the economic slowdown,” Jyotiraditya Scindia said. Indore:  Senior Congress leader and former MP Jyotiraditya Scindia on Sunday launched an attack on the BJP, stating that the party’s ideology is to carry on with its agenda even as the country reels under economic slowdown. Speaking to reporters in Indore … Read moreGovernment Unable To Control Economy, Says Jyotiraditya Scindia

Blame Game Starts As Wheels Come Off India’s Auto Sector

The automobile sector in India is going through a rough patch with vehicle sales falling fast (AFP) New Delhi:  When Finance Minister Nirmala Sitharaman claimed that a preference by millennials for ride-hailing apps was contributing to a painful slump in car sales, it sparked an online backlash from furious youngsters. They started a campaign using … Read moreBlame Game Starts As Wheels Come Off India’s Auto Sector

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