Economy news, Latest Economic News, GDP, World Economy, Indian Economy

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Economy

External debt increases almost 3% to $559 billion at March-end

Business

Investment in Participatory notes continues to soar; hits 10-month high in August

Economy

Will take necessary measures to promote growth: RBI Governor

Indian economy to shrink 9% in FY21, says ADB

India’s COVID-19-battered economy will shrink by 9% this fiscal, the Asian Development Bank (ADB) predicted, saying growth outlook remains highly

US bans import of five Chinese goods produced using “forced labour”

The US has banned the import of five goods from China, including computer-parts, cotton and hair products, alleging that they are produced in forced

Virus restrictions threaten Asia economic recovery in 2021, says Asian Development Bank

Developing Asia is expected to contract in 2020 for the first time in nearly six decades.

GST compensation due to States is ₹1.51 lakh cr.

Maharashtra leads pack for April-Aug.

Retail inflation eases to 6.69% in August

Retail inflation softened slightly to 6.69% in August, even as food prices continued to rule high, official data showed on Monday. Also read: WPI

Govt. looks to spend ₹2.35 lakh cr. more

FM tables supplementary demand for grants; net outgo may be ₹1.67 lakh cr; States to get big chunk

The pandemic has necessitated us to reconsider the 42% devolution assigned in the 2020-21 report: N.K. Singh

Unlike in the past, we may not have the luxury of assuming constant rates of growth throughout the period 2021-22 to 2025-26, says Chairman of the FFC N.K. Singh

S&P projects Indian economy to contract 9% in FY21; says COVID-19 will restrain economic activity

S&P said risks to the growth outlook include a weaker recovery in informal sectors of the economy and deeper economic losses for micro and small enterprises

FDI inflow from China declines to USD 163.77 million in FY20: Thakur

Giving details of the total foreign direct investment (FDI) inflow from Chinese companies in India, he said, it was USD 350.22 million in 2017-18, while it declined to USD 229 million in the following year.

WPI inflation rises 0.16% in August; food, manufactured items turn costlier

Inflation in vegetables stood at 7.03%, while in onion it was (-) 34.48%.

Retail inflation to come down with easing of lockdowns: CEA

“Overall, the difference between wholesale and retail inflation is primarily due to supply-side factors which should decrease and therefore going forward even the retail inflation should ease,” Mr. Subramanian said.

The Hindu Explains | Has economic slowdown hit EPFO earnings?

Why has the Employees’ Provident Fund Organisation not yet paid interest for fiscal year 2019-20?

RBI targets compliance at banks with CCO norms

Bid to ensure uniform risk culture

Gold ETFs log inflows for fifth straight month amid pandemic

Net ₹908 cr. invested in gold-linked funds in Aug., but lower than July’s ₹921 cr.

IIP shrinks 10.4% as recovery slows

Recovery is flattening, needs sustained policy support, says economist.

Moody’s projects Indian economy to contract 11.5% this fiscal

It said India’s credit profile is increasingly constrained by low growth, high debt burden and weak financial system.

Centre releases ₹6,195 crore grant to 14 States

The grant has been released to Andhra Pradesh, Assam, Himachal Pradesh, Kerala, Manipur, Meghalaya, Mizoram, Nagaland, Punjab, Sikkim, Tamil Nadu, Tripura, Uttarakhand and West Bengal.

Crisil now sees GDP shrinking 9% in FY21

Crisil Research on Friday said India’s Gross Domestic Product (GDP) would shrink 9% in FY21, wider than its May estimate of a 5% contraction. This

Pandemic may force govt. to borrow more

‘Deficit monetisation is the last resort’

Fuel offtake dips most since April

Aug. diesel sales fall 12% from July, total petro products demand slumps 16% y-o-y

States need ‘hard cash’, govt’s ‘letter of comfort’ has no value: Chidambaram on GST compensation

“Only the central government has multiple options and the flexibility to raise the resources and pay the shortfall.”

RBI sets sectoral norms for resolution of COVID-19 related stressed assets

‘Key financial ratios prescribed by Kamath panel intended to be floors or ceilings’

China exports rise most since March 2019

China’s exports rose for the third consecutive month in August, eclipsing an extended fall in imports, as more of its trading partners relaxed

Credit sachets can aid capital stressed PSBs: RBI deputy governor

Public sector banks should learn from FMCG players and “democratise credit”, a move that can help them solve the “biggest fiscal challenge” of

‘GDP contraction raising flags over lenders’ asset quality’

Corporate loan risks, however, have declined, says Moody’s

‘Global economy to contract 4.4%, China to grow at 2.7%’

Fitch sees ‘positive global spillovers’ from China’s recovery

GDP to shrink 14.8%: Goldman

Brokerage cuts FY21 estimate on COVID-19 hit; sees sharp rebound next fiscal

PM Garib Kalyan Yojana | More than 42 crore people get ₹68,820 crore financial aid

The National Social Assistance Programme disbursed about ₹2,814.5 crore to about 2.81 crore old-age persons, widow and differently-abled persons, a statement from Finance Ministry said.

Coronavirus | Indian economy to contract 10.5%, says Fitch Ratings

In the first quarter of current fiscal, India’s GDP contracted by 23.9%.

India Ratings revises country’s GDP growth projection to negative 11.8%

The agency, however, expects India’s GDP to rebound and grow at 9.9% year-on-year in FY22 mainly due to the weak base of FY21.

RBI to buy, sell G-secs worth₹10,000 crore

The Reserve Bank of India (RBI) has announced the simultaneous purchase and sale of Government of India securities (G-secs) for ₹10,000 crore each

Curbs on current account affecting MFIs: Sa-dhan

‘Sector will face operational issues’

RBI announces OMO for sale, purchase of govt securities of ₹10,000 crore

The Reserve Bank of India (RBI) will conduct simultaneous purchase and sale of government securities under the Open Market Operation (OMO) for

GDP numbers should alarm us all, says Raghuram Rajan

Government and its bureaucrats need to be frightened out of their complacency, opines former RBI Governor

Small positive growth may not be ruled out in FY21, says former RBI Governor Rangarajan

Economy has suffered its worst slump on record in April-June quarter of 2020-21

Foreign investors take our reform stand seriously: FM

Minister cites inflow of FDI between April-July as evidence

The Hindu Explains | What is the GST compensation due to States?

Why is the Centre asking them to borrow from the market to make up the shortfall? What are the options?

Firms raise $31 billion in shrinking economy

‘Surging cash levels aided by $15 tn stimulus to deal with COVID-19 fallout responsible for raising rush’

Exports, imports showing positive trends, says Goyal

Trade deficit is reducing drastically and India’s share in global trade is improving due to resilient supply chains, the Minister said.

RBI releases revised priority sector lending guidelines

Objective is to augment funding for companies hit by COVID-19

COVID-19, NEP fuel fund raising by education technology firms

COVID-19 may be keeping children away from schools but Ed-Tech players have got a boost to facilitate online education and help in the digital

Fund pooling can meet need for capital: Piyush Goyal

‘This can tackle insufficient capital’

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