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Prime Minister Narendra Modi addresses the World Economic Forum during a virtual meeting, in New Delhi on January 28, 2021. Twitter/@narendramodi

WEF’s Davos Summit: Economic situation will change swiftly, says Modi

Vikas Dhoot Narendra Modi said “During the COVID-19 crisis, many countries were wondering how to reach benefits to the people directly.”

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World Economic Forum (WEF) announced accelerating digital inclusion in a post-COVID World. The members of the board would include Rwanda’s Minister for ICT and Innovation Paula Ingabire, Mastercard’s Executive Chair Ajay Banga, Apollo Hospitals Group’s Executive Vice Chairperson Shobana Kamineni and Vista Equity Partners’ Chairman and CEO Robert F Smith. Twitter/@wef

World Economic Forum launches cross-sector alliance to close digital divide

PTI The alliance will be steered by a multi-sector board, to be chaired by Verizon’s Chairman and CEO Hans Vestberg.

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IMF Chief Economist Gita Gopinath. File

'Improve health system, enhance global cooperation to tackle COVID-19-like crisis in future'

PTI The global economy, ravaged by the COVID-19 pandemic, is projected to grow at 5.5% in 2021 and 4.2% in 2022, the IMF said this week

Congress leader P. Chidambaram (centre) speaks during a press conference at AICC headquarters, in New Delhi on January 28 2021. Party leaders Jairam Ramesh (left) and Mallikarjun Kharge are also seen.

Budget estimate for 2021-22 will be a conjurer’s illusion: Chidambaram

Special Correspondent “The current Finance Minister has the distinction of presiding over the first recession in four decades," Mr. Chidambaram said

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Fed adopts average inflation target, elevates focus on jobs

Borrow from RBI to bridge GST gap, Centre tells States

RBI has not exhausted ammunition to fight situation due to pandemic: Shaktikanta Das

Over 15 lakh people covered under specialised COVID-19 policies: Irdai chief

GST Council meeting debates revenue shortfall of states

Delayed GST payment: Interest to be charged on net tax liability from September 1

Former RBI chief Subbarao lays stress on setting up ‘bad bank’

It is not just necessary but unavoidable in the present circumstances, he says

Govt needs to spend more, not lend more: Rahul Gandhi

Mr. Gandhi said “distractions” through media won’t help the poor or make the “economic disaster disappear”

AI-based system can spot unauthorised cryptocurrency mining

The new AI system is designed to identity malicious codes that hijack supercomputers to mine cryptocurrency. It compares the programs used to misuse the supercomputers, based on graphs, which are like fingerprints for software.

Govt. open to more tweaks in ₹3 lakh cr credit guarantee scheme: FM

Finance Minister Nirmala Sitharaman on Tuesday said the government is open to further tweaking the ₹3 lakh crore credit guarantee scheme for providing

Clear exit strategy, milestones needed for fiscal consolidation in coming years: RBI

Based on information from 25 States, the general government fiscal deficit increased from 5.4% of GDP in 2018-19 to 6.5% in 2019-20 (revised estimate).

Economy to shrink in Q2, says RBI report

Shock to consumption has been severe; govt. consumption key to demand revival.

Government may look at second stimulus once COVID-19 infections ebb: Expenditure Secretary

As and when fears on the health front subside in the minds of people, the government can help the economy “a little bit with a few measures here and there”, he said

₹2,000 notes were not printed in 2019-20: RBI annual report

‘The number of ₹2,000 currency notes in circulation has come down from 33,632 lakh pieces at end-March 2018 to 32,910 lakh pieces at end-March 2019 and further to 27,398 lakh pieces at end-March 2020’

RBI calls for deep-seated, wide-ranging reforms for sustainable growth

Post-COVID-19, a new normal could emerge, says the central bank

GST council urged to hike compensation cess on tobacco products

This is a winning proposition for government as it will provide the much-needed additional tax revenue for COVID-19 stimulus package, says VOICE

GST reduced tax rates, doubled taxpayer base to 1.24 crore: Finance Ministry

The Finance Ministry on Monday said GST has reduced the rate at which people have to pay tax, helped increase compliance and doubled taxpayer base to

Don’t read too much into green shoots, it’s a mechanical rebound: Subbarao

“The pandemic is still spiralling, the number of daily cases is rising and it is spreading to newer regions,” he added

‘RBI at end of rate-cut cycle, fiscal steps must for recovery’

High inflation unlikely to decline materially: SBI economists

Income Tax refunds worth ₹88,652 cr issued to 24.64 lakh taxpayers

The Union govt. has emphasised on providing tax related services to taxpayers without any hassles during COVID-19 pandemic and to that end has been clearing up pending tax refunds.

Monetary arsenal must be kept dry for use: Das

MPC opted to wait and watch: minutes

‘Slowdown to extend as virus goes rural’

Sluggish consumer demand, slowdown in rural lending are cause for concern, says ministry official

Banks set to restructure up to ₹8.4 lakh cr. of loans: Ind-Ra

‘More than 60% of amount may have turned NPA’

World Bank may forecast steeper India contraction

‘Critical reforms needed in key sectors’

India can get back to 7% growth: IMF India Mission Chief

“If we look at India in the longer-term, say since the early 1990s, the country has had a record of gradual structural reform. We think it is urgent to get back to that once the crisis is over,” says Ranil Salgado

India’s GDP to shrink 16.5% in Q1: SBI report

Earlier in May, Ecowrap had estimated Q1 GDP contraction at over 20% and now pegs it lower

Japan’s record economic plunge guts Abe era gains

GDP shrinks 27.8%, consumption slides

Comment | Re-imagining and reinventing the Indian economy

A two-pronged strategy is the need of the hour

Watch | Why did gold prices spike in July?

A video explainer on the rise in gold prices around the world in July 2020

July sees trade back in deficit as gold, pharma imports rise

Exports rise in 16 of 30 major products; petro products, gems and jewellery drag

RBI to transfer ₹57,128 crore surplus to Centre for FY20

Last year, the central bank had transferred ₹1.76 lakh crore, which included ₹1.23 lakh crore as dividend and ₹52,637 crore of excess provisions.

WPI inflation falls 0.58% in July, food prices spike

WPI inflation in June was at (-)1.81%, while for the month of May and April it was (-)3.37% and (-)1.57% respectively.

Mutual fund SIP inflows hit 22-month low in July at ₹7,831-cr

Investments in mutual funds through Systematic Investment Plans (SIPs) hit a 22-month low of ₹7,831 crore in July amid market volatility.Inflows

Retail inflation rises to 6.93% in July

It is for the second consecutive month that the retail inflation has been above the RBI’s comfort level

Fuel demand dips 11.7% in July

Mini lockdowns may have reversed uptick seen in May, June

From carats to peanuts: how a pandemic upended the global diamond industry

As supply chains are convulsed by COVID-19, polishers switch to farming

Economic disruption to rural economy less severe, says Birla

UltraTech plans ₹1,500 cr. capex; group head sees 6-8% GDP growth next fiscal

‘India to face economic challenges for many years’

Potential growth has slowed: UBS

U.K. economy officially in recession after 20.4% Q2 slump

The slump recorded by the Office for National Statistics follows a 2.2% quarterly contraction in the first three months of the year.

Narendra Modi to launch ‘Transparent Taxation - Honouring the Honest’ platform tomorrow

The virtual event will be witnessed by various chambers of commerce, trade associations, chartered accountants’ associations and “eminent” taxpayers, the statement issued on Wednesday said

June industrial output shrinks 16.6%

India’s industrial output fell 16.6% year-on-year in June, shrinking for the fourth month in a row, though the monthly measure indicated some recovery

Debt revamp to prolong banks’ asset quality uncertainty: Fitch

‘Scheme may be designed to give lenders more time to build capital buffers’

Centre releases ₹6,195 cr to 14 States

They get grants-in-aid to cover deficit on post devolution revenue

Data | Government's tax revenue records sharp downfall, expenditure increases

Fiscal deficit widens to 83% of the year's target in the very first quarter; GST dropped 41% y-o-y

Balance of payments will be strong this year, says Goyal

Minister cites green shoots in economy, says exports have shown turnaround

Oil climbs on China data, hopes for U.S. package

Aramco bullish on Asian fuel demand

India’s imports from China rise in June and July

India’s imports from China have risen to $5.6 billion in July, climbing for the second straight month, although imports are still down by 24% from

‘Loan recast to aid small firms, retail borrowers’

RBI move to soften virus impact: Crisil

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Children perform at a Uttar Pradesh Foundation Day function attended by State Minister Ajit Singh Pal at Kanpur Dehat district on January 24, 2021. Three journalists have been booked by the district police for airing news report “showing children of a government school shivering in cold” during the event. Photo: Facebook/@ajitpalofficial

35K | 3 TV journalists booked in U.P. for showing students ‘shivering in cold’ during government function

Vijay and Vijay Sethupathi in ‘Master’

20K | Vijay-starrer 'Master' to release on Amazon Prime Video on January 29

Nephew of V.K. Sasikala and AMMK founder T.T.V. Dhinakaran, speaking to reporters outside Victoria hospital in Bengaluru on Wednesday, January 27, 2021.

13K | V.K. Sasikala released from prison after serving 4-year term

Farmers gesture as they listen to a speaker at the protest site in Singhu border, New Delhi on January 27, 2021.

13K | Republic Day violence | Government conspiracy led to violence, say farmer unions

Reliance Industries Chairman Mukesh Ambani. File photo

11K | Indian billionaires increased their wealth by 35% during the lockdown, says Oxfam report

Clockwise from top - Singer KS Chithra, Ram Vilas Paswan, Shinzo Abe

9K | List of Padma awardees — 2021

The murdered siblings, Alekhya and Sai Divya.

9K | Parents arrested amid high drama for murder of two daughters

Actor Deep Sidhu addresses farmers at Ghazipur border in New Delhi on December 14, 2020.

9K | Republic Day violence | Farmer unions condemn actor Deep Sidhu’s actions

8K | Kashmir’s first-ever igloo restaurant turns selfie spot for tourists