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File photo shows containers at the Yangshan Deep Water Port in Shanghai.

India’s trade with China falls in 2020, deficit at five-year low

Ananth Krishnan The trade deficit, a source of friction between India and China, declined to a five year-low of $45.8 billion, the lowest since 2015.

Representational image.

Exports rise a tad, imports surge in December

PTI India’s exports rose marginally to $27.2 billion in December, while imports surged 7.6% to $42.6 billion, official data showed.Merchandise exports were valued at $27.1 billion in December 2019. “The trade deficit for December 2020 was estimated at $15.44 billion as against the deficit of $12.49 billion in December 2019, an increase of 23.66%,” according to the data. India’s overall exports (merchandise and services) in April-December 2020-21 were estimated at $348.5 billion, showing a negative

The government expects the GDP to contract 7.7% in financial year 2021 because of the reverses. File

Indian economy ‘weak,’ credit growth bottoming out: BofA

PTI Real lending rates are dropping, says U.S. brokerage

The open-collaborative online encyclopedia Wikipedia celebrates its 20th anniversary on January 15, 2021.

India fifth largest market; focussed on meeting language needs, enhancing ease of access: Wikipedia

PTI Wikipedia, which turns 20 on January 15 has over 55 million articles that can be accessed in more than 300 languages.

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Need to support economic revival, financial stability: RBI Governor

Exports rise a tad, imports surge in December

Indian economy ‘weak,’ credit growth bottoming out: BofA

File photo shows containers at the Yangshan Deep Water Port in Shanghai.

India’s trade with China falls in 2020, deficit at five-year low

Farm Bills have potential to represent significant step forward for agriculture reforms in India: IMF

India fifth largest market; focussed on meeting language needs, enhancing ease of access: Wikipedia

Coronavirus | India took ‘very decisive’ steps to deal with pandemic and its economic consequences: IMF chief

The IMF Managing Director during a global media roundtable on January 14 predicted a less bad outlook for India in the upcoming World Economic Update due to the steps taken by it.

December wholesale inflation slows to 1.22%

The inflation based on Wholesale Price Index (WPI) was 1.55% in November 2020, and 2.76% in December 2019.

Kerala allowed to borrow ₹2,261 cr. more

The Finance Ministry has enhanced Kerala’s borrowing limit by ₹2,261 crore, after the State joined seven others in completing reforms to improve the

Inflation slows to 4.59% as food prices ease

Industrial output slips back into contraction after two months with November IIP shrinking 1.9%, NSO data show

Retail inflation drops to 4.59 pc in December, says govt. data

Retail inflation based on the Consumer Price Index (CPI) was 6.93% in November.

Govt rejects demand for further extension of returns filing date beyond Feb 15

The finance ministry has rejected the demand for further extension of the last date for filing returns where audit is required beyond February 15.

Stretched valuations threaten stability: Shaktikanta Das

RBI’s Das warns disconnect between markets and real economy pose risks to the financial system

Data | MSMEs continue to be most stressed sector, urban cooperative banks at risk

As of August 2020, 89.6% of all loans given by Urban Cooperative Banks to the MSME sector were under moratorium

RBI Financial Stability Report: Banks gross NPA may rise to 13.5% by September 2021

If the macroeconomic environment worsens into a severe stress scenario, the GNPA ratio may escalate to 14.8%, the report said

Pandemic threatens to result in balance sheet impairments, capital shortfalls at lenders: Shaktikanta Das

He asked banks to exploit the current conditions to augment capital and also alter their business models, which will help in the future

To coin or not to coin?: The must-knows for the crypto-curious

As Bitcoin’s dollar value hits a correction, experts candidly chat about what you need to know about cryptocurrency before you hop on this fin-tech bandwagon

Indian economy heading towards V-shaped recovery in 2021: Assocham

The industry chamber said it expects immense accruals of economic benefits from the COVID-19 vaccination programme about to be rolled out.

Traders’ body seeks ban on WhatsApp, Facebook over new privacy policy

CAIT writes to IT Minister seeking government action.

December fuel demand rises to 11-month high

Diesel sales slip from year-earlier period for a second straight month dampening overall consumption.

Finance Ministry drafts model tender to ease purchases

The document standardises language.

India’s self-reliance goal must not to be taken as move ‘towards isolating itself’, says Sunil Munjal

Country has to focus on exports to become a key player in global trade, the Hero Enterprises Chairman said.

Jaishankar invites diaspora to be part of India’s efforts to build stronger capabilities

In an address at the Pravasi Bharatiya Divas, Jaishankar said the objective of the “Aatmanirbhar Bharat” initiative is to build greater capacities and enhance its contribution to the world.

Need to build back U.S. economy better so that it lifts up everyone, says Kamala Harris

US President-elect Joe Biden and Vice President-elect Harris will take the oath of office on January 20.

India ushering in rapid structural reforms to become $5 trillion economy by 2025: Goyal

The Minister said new markets were being explored aggressively to enhance the reach of Indian products globally.

U.S. sheds 1.4 lakh jobs as COVID-19 cases surge

Dec.’s job losses first in eight months

India’s fiscal deficit may exceed 7% in current fiscal, say sources

‘Government finances in poor condition because of a shortfall in tax receipts’

GDP likely to contract by 7.7% in 2020-21, says Govt.

According to National Statistical Office, Agriculture is set to record positive growth while service sector will be the worst hit.

Petrol price at all-time high, diesel crosses ₹81 in Mumbai

Petrol price was hiked by 23 paise per litre and diesel by 26 paise a litre

SEBI to allow new players to set up stock exchanges

Floats discussion paper on MIIs

‘NBFCs may see growth revive in FY22’

Growth in assets under management (AUM) of non-banking financial companies, or NBFCs (excluding infrastructure NBFCs), and housing finance firms will

FM reviews NIP as part of infra spending push

Pipeline expanded to 7,300 projects

Data | Why did bad loans in banks reduce despite COVID-19 and economic downturn?

Three key factors could explain why the bad loans problem is likely to worsen

Petrol price nears all-time high after oil cos hike rates after month-long hiatus

Petrol price in Delhi climbed to ₹83.97 per litre from ₹83.71 previously; diesel rates rose to ₹74.12 per litre from ₹73.87

I-T refunds worth ₹ 1.64 lakh crore issued to 1.41 crore taxpayers till Jan 4

The Income Tax department on Wednesday said it has issued refunds worth over ₹ 1.64 lakh crore to over 1.41 crore taxpayers so far this fiscal. This

India's services sector activity expands at slower rate in December

Hiring came to a halt amid weak business optimism, a monthly survey said

Global and India output set to expand in 2021-2022, says World Bank

Malpass warns of ‘dramatic’ inequality increases.

India’s growth bucks global trend: Finance Ministry review

Persistent improvements in economic indicators showing V-shaped recovery, it says

Faceless tax scheme delivers 24,000 final orders: Pandey

Number of orders shows system has stabilised, he says

The dilemma in home loans: fixed or floating interest rate?

In home loans, the nagging question remains: should the borrower choose fixed rates of interest or opt for floating rates?

Government ropes in I-T department to crack down on GST fraud

Data being pooled to track evasion, says Finance Secretary.

Economy is on fast recovery track, says Ajay Bhushan Pandey

Finance Secretary cites better tax compliance and growing revenues

GST officers arrest one person for duty evasion of around ₹ 831.72 crore

The accused person has been arrested and sent to 14 days judicial custody.

GST e-invoice count climbs to 6.03 crore in December

System had begun with 4.95 cr. in Oct.

Data | Confidence in the economy dropped the most among salaried workers

Post-lockdown recovery of unemployment levels reversed

Exports slip 0.8% in December; trade deficit widens to $15.71 billion

Exports in December 2019 was $27.11 billion, while imports stood at $39.5 billion.

Forex reserves dip by $290 million to $580.84 billion

After touching a record high, the country's foreign exchange reserves declined by $290 million to $580.841 billion in the week ended December 25, RBI

No charges on transaction through UPI: NPCI

National Payments Corporation of India (NPCI) on Friday said transaction through Unified Payment Interface platform would continue to be free.Reports

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A medic fills a syringe with COVAXIN before administering it to a health worker during its trials, at the Gujarat Medical Education and Research Society in Ahmedabad on November 26, 2020.

34K | Coronavirus | Vaccine dilemma — to take or not to take Covaxin

Sameera Fazili.

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A health official shows a vial of Covishield vaccine in Assam’s Tezpur on January 15,2021.

8K | Coronavirus | World’s largest vaccination programme begins in India on January 16

The remains of the mini-bus being removed from the Hubballi-Dharwad Bypass Road on Friday.

7K | Reunion plan turns tragic as 11 die in road accident

Vijay Sethupathi

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Washington Sundar (Globe Trotters, 100 n.o.).

6K | Washington Sundar set to make his Test debut against Australia

6K | Full list of 2020 Padma awardees

Vaccines being dispatched to neighbouring districts from Mysuru on January 15, 2021.

5K | Morning Digest: World’s largest vaccination programme begins in the country today; farmers, govt. to continue talks, and more