Treasury Secretary Steven Mnuchin, meanwhile, left the door open to resuming negotiations, saying he would consider any new proposal from Democrats and encouraged a compromise bill on areas of agreement such as food assistance.
The countries likely to face more severe effects from the pandemic-induced decline in remittance inflows are the ones where remittance shares to gross domestic product (GDP) and per capita remittances are high.
Initial results of a six-month survey that is underway by GAME (Global Alliance for Mass Entrepreneurship) in association with LEAD at Krea University covering 1,500 micro enterprises also reveal that 40 percent tried to borrow money to cover expenses.
India has 12 major ports under the control of the central government -- Deendayal (erstwhile Kandla), Mumbai, JNPT, Mormugao, New Mangalore, Cochin, Chennai, Kamarajar (earlier Ennore), V O Chidambarnar, Visakhapatnam, Paradip and Kolkata (including Haldia).
President Donald Trump signed a series of executive orders aimed at pumping up America's pandemic-hit economy. The orders are likely to face some legal challenges.
US President Donald Trump signed four executive orders to act where Congress has not, contending Washington's gridlock had compelled him to act as the coronavirus pandemic undermined the country's economy and imperiled his November reelection hopes.
Kant further said that almost 90 percent plus of the $22 billion foreign direct investment in India during the pandemic came through the automatic route.
Panagariya opined that a large fiscal stimulus in India would not have produced result as it has not given results in the US or Europe.
President Donald Trump said on Friday night that he was likely to issue more limited executive orders related to COVID-19, perhaps in the next day or so, if he can’t reach a broad agreement with Congress.
The central bank further said the facility to set or modify ranges for end-of-the-day current account balances will be available on all real-time gross settlement (RTGS) working days between 9 am and 11:30 pm.
Globally, there are 1.86 crore confirmed cases of the infection and over 7 lakh people across the world have lost their lives due to the virus.
What does the prolonged and significant downturn in India's services activity indicate and will things get better in the coming months?
Initial claims for state unemployment benefits totalled a seasonally adjusted 1.186 million for the week ended August 1, compared to 1.435 million in the prior week, the Labor Department said on Thursday.
ICRA said despite the overall muted macro-economic sentiments, on the positive side, the rural economy offers some growth off-shoots in the form of healthy rabi output and lower COVID-19 impact.
GST collections account for almost 60 percent of states' revenues. The nationwide lockdown imposed to contain the outbreak of the COVID-19 pandemic led to falling GST collections. Though the lockdown restrictions have been mostly lifted, rising number of cases have resulted in a rise in the number of containment zones, which have continued to hit supply chains
Those who received financial assistance in the second instalment include Chhattisgarh, Jharkhand, Madhya Pradesh, Odisha, Rajasthan, Telangana, Andhra Pradesh, Goa, Gujarat, Karnataka, Kerala, Punjab, Tamil Nadu, West Bengal, Arunachal Pradesh, Assam, Meghalaya, Manipur, Mizoram and Sikkim, the ministry said.
One of the points of arguments is that some employers could unfairly terminate employees before they complete the 5-year employment period provision.
The IMF's External Sector Report on currencies and imbalances for the world's 30 largest economies showed that net current account balances fell by 0.2 percentage point to 2.9 percent of global GDP.
Volumes in the first quarter of 2020-21 dropped to around Rs 7,500 crore from close to Rs 50,300 crore in the same quarter of the previous year, rating agency ICRA said in a report.
Fuel sales had fallen by a record 45.8 percent in April when a nationwide lockdown was in place to check the coronavirus infections.
The Association has requested the government for waiver of taxes, deferment of motor insurance, extensions of moratorium & waiver of interest among others.
The world's second-biggest consumer of the precious metal imported around 30 tonnes of gold in July, down from 39.66 tonnes a year ago, the source said.
Economist said the moratorium data is not "significantly perturbing" but hit out against the "spate of unplanned and unintelligent lockdown mania" in many pockets.
Currently, India is dependent on China for nearly 70 percent of its drug imports. It is also heavily reliant on China for fermentation-based APIs, which reportedly aren't manufactured by other countries
As per the RBI Act 1934, the MPC is required to meet at least four times in a year.