RBI governor Shaktikanta Das said that it will be critical to ensure that further slippages are contained
Urging the government to bring down GST rate on the maintenance, repair and overhaul (MRO) services to 5 percent from the present 18, the MRO Association of India has also expressed fears of a "shut-down" of the industry if the "anomalies" were not fixed on priority.
In the reporting week, foreign currency assets -- a major component of the overall reserves -- rose by USD 1.087 billion to USD 371.379 billion, the Reserve Bank said.
"The energies and aspirations of Indian companies and citizens, combined with the reforms implemented and to come, will drive India to achieve the ambition of becoming a USD 5 trillion economy by 2022 and alongside lift US India commercial engagement as a participant in this growth," Arun Kumar, chairman and CEO, KPMG in India, said.
Addressing a press conference, the senior Congress leader said the NDA government would not be able to meet the fiscal deficit target of 3.3 percent, like in 2017-18 when it missed the fiscal deficit target of 3.5 percent.
In May 2015, the Maharashtra government had declared drought in over 29,000 villages of the state, most of them located in parched Marathwada and Vidarbha regions.
State-run manganese ore producer MOIL on Friday announced that it has entered into a pact with GMDC to set up a plant in joint venture in Gujarat with an investment of around Rs 250 crore and to conduct joint exploration of manganese-bearing areas.
The minister said government programmes such as Pradhan Mantri Awas Yojna, affordable housing and urban housing missions would also contribute to the growth of steel consumption.
"Indian industry has been doubling the defence exports in the last three years. Three years back, total defence export from India was only about Rs 1,500 crore. Last year, the figure reached Rs 4,500 crore. This year, by November, we have done Rs 7,500 crore export, and by March we are going to cross Rs 10,000 crore," Kumar said.
In a letter to Commerce and Industry Minister Suresh Prabhu, the Confederation of All India Traders (CAIT) also said that "those who are unable to obtain the said certificate should not be allowed to raise funds and the operations of their portal should be suspended".
"Prices are just moving higher and higher. Buyers are waiting for a correction in prices and the annual budget as there is speculation of a duty cut," said a Mumbai-based dealer with a bullion importing bank.
Addressing a press conference, Bharatiya Janata Party (BJP) farmers' wing president Virendra Singh Mast said the government had taken a number of "historic" decisions for rural development and the agriculture sector.
According to CLE, Chairman, Panaruna Aqeel, India is the second largest consumer of footwear after China, globally.
Fiscal deficit will come at 3.5 percent as against the targeted 3.3 percent on the shortfall in disinvestment mop-up and also the dip in the GST collections, domestic rating agency Care Ratings said Friday.
"The department is prepared to give a viability gap funding (VGF) for which a programme is being worked out so that the fresh agriculture produce from the northeast (NE) region can be taken to the international market because virtually, the entire region is organic and fertile," Sudhanshu Pandey, additional secretary in the department, said here.
The country's ranking has jumped 75 places in the World Bank's ease of doing business rankings, Modi said. India is now ranked 77th in the list.
To gauge the consumer pulse on how GST rate reductions are reaching consumers, LocalCircles conducted a three-point poll.
The government has set up a committee to look at all the projects that are owned by IL&FS and work on their revival strategy
Ambani said that the world recognises Prime Minister Narendra Modi as a man of action and asked him to include this in his vision of Digital India
While rural distress is real, there are sufficiently large pockets in the rural market that are doing enough to sustain consumption growth.
Gaurav Choudhury, Deputy Executive Editor at Moneycontrol explains everything you need to know about the National Savings Scheme.
Finance Minister Arun Jaitley said India can't have a real rate of interest that's higher than anywhere else in the world
The agriculture ministry has prepared a cabinet note on "addressing income deficit syndrome of small and marginal farmers" proposing various steps, including a financial package and interest waiver for timely crop loan repayers, according to sources.
The remarks assume significance as they come after the Centre for Monitoring Indian Economy, an independent think tank, recently estimated that 11 million jobs in the country were lost in 2018, with the rural sector being the worst hit.
In a meeting with RBI Governor Shaktikanta Das in Mumbai, industry chambers suggested various measures to ease tight liquidity situation and reduce high cost of credit in the light of consistently falling inflation.