March 09, 2021 12:14 PM IST
Krishnamurthy Subramanian’s views echo that of RBI Governor Shaktikanta Das. In July 2020, Das had said a big push for mega infrastructure projects could reignite the economy, but banks saddled with infra-related NPAs, may not be best placed to finance these projects.
- March 09, 2021 09:21 AM IST
With regard to recovery of written-off bank loans, the Minister of State for Finance said, as per RBI guidelines, banks are required to have a loan recovery policy, duly vetted by their Boards that set down the manner of recovery of dues, period-wise targeted level of reduction in non-performing assets, etc
- March 08, 2021 03:46 PM IST
Foreign Direct Investment into India is poised to rise to a record in FY21 as the government actively wooed companies that manufactured in China and announced favourable policies such as the Performance Linked Incentives, while states continued to reach out to investors.
- March 06, 2021 06:58 PM IST
Shimla, Mar 6 Himachal Pradesh Congress on Saturday termed the state budget presented by Chief Minister Jai Ram Thakur as "directionless", saying the..
- March 05, 2021 02:54 PM IST
The 'Monthly Economic Review' for February also stated that higher-than-expected subsidy outlay in 2020-21 has led to real GDP contraction projections to be larger than that of real GVA, an unusual occurrence in itself.
- March 04, 2021 02:53 PM IST
The portal will help investors scout opportunities, get official investment guidance and secure requisite clearances. More than 14 states have been brought on board so far sources say.
- March 03, 2021 02:55 PM IST
Back in January, 2020, an interministerial committee had decided to bring in comprehensive product standards to disincentivise the import of a large category of goods. But the Bureau of Indian Standards has struggled to establish norms for the same.
- March 02, 2021 03:41 PM IST
However, inbound trade has continued to rise, pushed up by a surge in gold imports. As a result, the trade deficit also climbed up by more than 25 percent to $12.8 billion in February.
- March 01, 2021 02:24 PM IST
Despite GDP growing in the third quarter, the government now predicts the economy will shrink by a slightly larger margin of 8 percent in FY21, up from the earlier estimate of 7.7 percent. Economists say that this contrasting position in official statements springs from the fact that growth in key sectors are muted and COVID-19-related uncertainties remain strong.
- March 01, 2021 12:52 PM IST
Speaking at a webinar on the Budget’s agriculture-related announcements, Prime Minister Narendra Modi said the private sector should increase its participation in areas such as agriculture research and development, storage and processing, as well as soil testing.
- 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.