Economy in tailspin…doing very badly, says Nobel laureate Abhijit Banerjee

NEW DELHI: Sandwiched between the World Bank and International Monetary Fund reducing India’s FY20 growth estimates was the Nobel Economics Prize for Indian-American Abhijit Banerjee — who shared the award with Esther Duflo and Michael Kremer — and the media interaction following the Nobel announcement in which Banerjee’s key observation on India’s economy was that … Read moreEconomy in tailspin…doing very badly, says Nobel laureate Abhijit Banerjee

IMF Cuts India’s Growth Forecast, Still Fastest Growing Economy: 10 Facts

In its previous outlook released in July for India, IMF had projected 7 per cent growth. India’s growth forecast has been slashed by the International Monetary Fund or IMF for the year 2019-20, however the country still retains its rank as the world’s fastest-growing major economy, tying with China. “India’s economy is set to grow … Read moreIMF Cuts India’s Growth Forecast, Still Fastest Growing Economy: 10 Facts

September trade deficit narrows slightly to $10.86 billion

NEW DELHI: Decline in outward shipments of petroleum, engineering, leather, chemicals, and gems & jewellery made India’s exports contract 6.57% to $26 billion in September while a steeper contraction in imports of 13.85% to $36.89 billion helped narrow the trade deficit to a seven-month low $10.86 billion. Trade deficit in September 2018 was $14.95 billion. … Read moreSeptember trade deficit narrows slightly to $10.86 billion

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

Moody’s Cuts Growth Forecast For India To 5.8% This Fiscal Year

India’s growth fell to a six-year low of 5 per centin the April-June quarter. New Delhi:  Moody’s Investors Service on Thursday cut its growth forecast for India for the fiscal year that began in April to 5.8 per cent from 6.2 per cent and said a weaker growth outlook will dampen the prospects for fiscal consolidation. … Read moreMoody’s Cuts Growth Forecast For India To 5.8% This Fiscal Year

Does this festive season herald fireworks or damp squibs?

It is amazing how things come around. I was listening to Prime Minister Narendra Modi’s Houston speech. After speaking in several Indian languages, Modi said: “ Maine itna hi kaha hai: Everything is fine .” Suddenly I remembered the theme song from 3 Idiots. Eight years have gone by and the lyrics could have been … Read moreDoes this festive season herald fireworks or damp squibs?

When Modi is seen borrowing more, rate cuts fail to boost bonds

By Kartik Goyal September is shaping up to be a brutal month for Indian bonds, and traders are hoping the government’s borrowing plans this week will offer some relief. Benchmark 10-year rupee yields have climbed almost 20 basis points since end-August, driven by fears that a $20 billion tax cut could boost an already bloated … Read moreWhen Modi is seen borrowing more, rate cuts fail to boost bonds

Maharashtra and Haryana: How these two poll-bound states fared under BJP govts

It is hard to overstate the economic significance of election-bound Maharashtra and Haryana. They house just over 11% of India’s population, according to the 2011 Census, but contributed nearly 18% to the country’s economic output in 2018-19. Maharashtra has the largest state economy and Haryana has the third-highest per capita income among states (excluding Union … Read moreMaharashtra and Haryana: How these two poll-bound states fared under BJP govts

Centre’s Economic Policies At Fault: Priyanka Gandhi On PMC Bank Crisis

“The government’s economic policies are at fault,” said Priyanka Gandhi Vadra (File Photo) New Delhi:  Congress leader Priyanka Gandhi Vadra on Wednesday hit out at the Modi government over operational restrictions on the Punjab and Maharashtra Co-operative Bank, alleging that the Centre’s economic policies are at fault but the brunt is being borne by hardworking … Read moreCentre’s Economic Policies At Fault: Priyanka Gandhi On PMC Bank Crisis

Rainfed agency to make action plan for drought-prone districts

“In a country like India where the resources are scarce, every rupee invested in science must have an impact on society. We have one of the best agricultural research systems in the world – 5,500 scientists in ICAR, 4,500 scientists in Indian Space Research Organization and scientists working in 77 agricultural universities in the country,” … Read moreRainfed agency to make action plan for drought-prone districts

Tax cut gives PM Narendra Modi perfect pitch to win American investments

By Archana Chaudhary and Vrishti Beniwal Prime Minister Narendra Modi arrives in the U.S. a day after delivering a $20 billion tax-cut stimulus for companies, which strengthens his pitch to American chief executives about the ease of doing business in India. His government on Friday cut corporate taxes to rival some of the lowest in … Read moreTax cut gives PM Narendra Modi perfect pitch to win American investments

Niti Aayog task force mulls training babus on project management

HYDERABAD: A task force of government policy think tank Niti Aayog is planning to impart project management training to government officials in a bid to prune wastage and help the government in its $5-trillion economy target by 2024. Speaking to reporters here on Friday, Project Management Institute’s (PMI) global chair Randall T Black and director … Read moreNiti Aayog task force mulls training babus on project management

Corporate tax cut: Hope for quick trickle-down effect

For a government better known for its daring — and often audacious — political decisions, Friday’s announcements will go down as the most impressive gamble till now on the economic front: bold and long term, sudden yet tenable. It surprised financial markets, which were scrounging for a story and were beginning to believe that a … Read moreCorporate tax cut: Hope for quick trickle-down effect

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

Government Likely To Unveil Measures To Boost Growth: Report

Finance minister is likely to unveil measures to boost economic growth, which slipped to six-year low of 5 per cent in the April-June quarter, including review of import tariffs on certain items ahead of Prime Minister Narendra Modi’s visit to the United States, two government sources said. “We are waiting for the approval from the prime … Read moreGovernment Likely To Unveil Measures To Boost Growth: Report

A $45 Billion Bet On India Is Rapidly Unravelling: Economists

PM Modi’s fiscal firepower is limited by the region’s widest budget deficit. After pouring $45 billion into the stock market over the past six years on hopes that Prime Minister Narendra Modi would unleash the country’s economic potential, international money managers are now unwinding those wagers at the fastest pace on record. They’ve sold $4.5 … Read moreA $45 Billion Bet On India Is Rapidly Unravelling: Economists

Confidence of investors shaken but Modi govt refuses to acknowledge truth: Priyanka Gandhi

Priyanka Gandhi took an apparent dig at Prime Minister Modi’s upcoming diaspora event in Houston. (File) Congress leader Priyanka Gandhi Vadra on Wednesday attacked the government over the state of the economy, saying the confidence of investors is “shaken” but the Modi dispensation is refusing to acknowledge the truth. The Congress general secretary also cited … Read moreConfidence of investors shaken but Modi govt refuses to acknowledge truth: Priyanka Gandhi

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