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February 26, 2021 09:12 PM IST Gross domestic product grew 0.4% in October-December compared with the same period a year earlier, data released by the National Statistics Office on Friday showed. That compared with revised contractions of 7.3% in July-September and 24.4% in April-June.
February 26, 2021 05:46 PM IST Growing 0.4 per cent in the October-December quarter of FY21, India's GDP managed to marginally overcome record level contractions that had gripped it over the previous two quarters. But going forward, uncertainties in private consumption and slow growth in manufacturing, key services sectors pushed down FY21's official forecast to an 8 percent contraction.
February 25, 2021 12:33 PM IST While the economy has shrunk by as much as 15.7 per cent in the first half (April-September) period, it needs to register atleast a slight growth to cushion the ongoing contraction and stick to the government's first advance estimate of an overall 7.7 per cent GDP fall for 2020-21, economist and analysts stressed.
February 19, 2021 01:46 PM IST Keen to restart talks on the proposed India-US limited trade deal, New Delhi's first step towards rapprochement is also intended to break the ice on strategic economic issues that have gone cold over the past 4 years under former US President Donald Trump, senior sources in the know said.
February 19, 2021 11:20 AM IST The wait for a new Land Licensing Fee was considered a key roadblock in the privatisation of Container Corporation (Concor). The new policy is expected to bring down the land lease rates for use of railway land for industrial purposes
February 18, 2021 12:47 PM IST The government's largest export incentive policy, the Merchandise Exports from India Scheme (MEIS), has been discontinued from January 1, 2021. Covering upto 75 per cent of India's total exports, it was a crucial support to exporters. Now, even as tax refunds under MEIS remain stuck with the government, exporters say that it's replacement, the Remission of Duties and Taxes on Exported Products (RoDTEP) scheme, is unfinished and insufficient.
February 16, 2021 03:07 PM IST Ahead of Boris Johnson's visit later in 2021, India and the UK are sitting at the negotiation table.
February 12, 2021 06:12 PM IST This was on the back of further cooling down of food prices. Consumer Food Price Inflation (CFPI) was 1.89 per cent in January, data by the National Statistical Office showed.
February 12, 2021 03:05 PM IST Speaking on the fiscal roadmap of the government, the Finance Minister said: “We have not hurried to say that next year the fiscal deficit will come down to something which we will like to see. We are going to be careful about how we come down that fiscal path without affecting or creating any hurdles to growth.”
February 10, 2021 01:48 PM IST Food Corporation of India has been the biggest recipient of off-budget financing through NSSF loans. Finance Minister Nirmala Sitharaman stated in her Budget speech that the Centre would end this practice. Their extra-budgetary nature meant these borrowings did not figure in the fiscal deficit calculation and therefore did not paint an accurate picture of the economy
February 08, 2021 06:39 PM IST Economy in tatters, a raft of sectors batted by the virus crying for help, plenty of lobbying from all quarters. Yet the policymakers stuck to the task of creating a Budget affixed on growth goals. A behind-the-scenes look at what went into the making of Budget 2021.
February 05, 2021 06:27 PM IST “Right now it will be a government-owned DFI. It will be through legislation, which will also enable the setting up of private DFIs. There will be a provision that if in the later stages, the DFI wants to diversify its equity, it will be able to do that," Economic Affairs Secretary Tarun Bajaj told Moneycontrol.
February 04, 2021 06:37 PM IST In an interview with Moneycontrol, Krishnamurthy Subramanian also said the measures taken by the Modi government to deal with the latest economic crisis are less inflationary than interventions by previous governments, and that some 100 crore people may be vaccinated for free.
February 03, 2021 10:06 PM IST In an exclusive interview to Moneycontrol, Ajay Bhushan Pandey said that GST collections in the last couple of months have improved because of systemic changes undertaken by the department of revenue, without increasing tax rates.
February 03, 2021 09:29 PM IST Speaking to Moneycontrol, the Minister of State for Finance said that while the medium term fiscal deficit targets till 2025-26 seem challenging, the Modi government has had a proven track record of fiscal discipline.
February 03, 2021 02:50 PM IST There could be legitimate concerns over whether fiscal expansionism through capital expenditure would manifest the desired results. But over-optimistic projections and below-the-line accounting aren't any of them.
February 03, 2021 10:33 AM IST Expenditure Secretary TV Somanathan told Moneycontrol that the Finance Ministry had a rough cost of Rs 700 per person in mind. The budget allocation is just a part of what will be spent, as state governments and corporates will also allocate sums for the vaccination drive
February 03, 2021 10:11 AM IST RBI’s Monetary Policy Committee is forecast to leave the key policy rate unchanged, but watchers feel Union Budget 2021 could trigger policy changes.
February 02, 2021 09:07 PM IST In an exclusive interview with Moneycontrol, PC Mody said that committees like those on Direct Tax Code (DTC) were constituted in a certain context and with certain intent in mind and it's not essential that all the suggestions of such committees get implemented.
February 02, 2021 08:43 PM IST DIPAM Secretary Tuhin Kanta Pandey told Moneycontrol that while the names of two state-owned banks and one general insurance company to be privatised are yet to be decided, just announcing that PSBs are up for privatisation was a big statement of intent in itself.
February 02, 2021 07:35 PM IST Speaking exclusively to Moneycontrol in a post-budget interview, Expenditure Secretary TV Somanathan said it was a conscious decision by the government to invest in infrastructure projects which will create jobs rather than provide further handouts, as the former will have long-term benefits.
February 02, 2021 08:54 AM IST Union Budget 2021 LIVE: Union Finance Minister Nirmala Sitharaman on February 1 presented the Union Budget 2021 and revised the expenditure target for FY 2021 at Rs 34.50 lakh crore. She allocated Rs Rs 2,23,846 crore for health, Rs 1.18 lakh crore for road infra, Rs 1,10,055 crore for Railways, Outlay over Rs 3 lakh crore for power and set the divestment target for FY22 at Rs 1.75 lakh crore, among other things.
February 01, 2021 08:24 PM IST Hours after Finance Minister Nirmala Sitharaman’s Union Budget 2021 speech, Principal Economic Advisor Sanjeev Sanyal, one of the architects of the Budget, spoke exclusively to Moneycontrol.
February 01, 2021 07:12 PM IST Finance minister Nirmala Sitharaman said the Centre is targeting a fiscal deficit of 6.8 percent of gross domestic product (GDP) for FY22, which will gradually come down to below 4.5 percent by FY26. This will require amendments to the Fiscal Responsibility and Budget Management Act
February 01, 2021 04:36 PM IST Moneycontrol's Ravi Krishnan discusses how Budget 2021-22 will impact the Indian economy.
