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 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 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 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 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 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.
- January 30, 2021 08:43 PM IST
In an interaction with Moneycontrol, Krishnamurthy Subramanian also said that the idea of a 'bad bank' was being discussed ahead of the Budget, and that a counter-cyclical fiscal policy was part of pre-Budget deliberations.
- January 27, 2021 07:03 PM IST
Indian Railways' capex was pegged at Rs 161,042 crore in 2020-21 and this is likely to grow in double-digits in 2021-22
- January 25, 2021 01:42 PM IST
While the findings of Oxfam and other similar agencies are not considered by policymakers, they come at a time when Finance Minister Nirmala Sitharaman will surely keep the urban and rural poor in mind while presenting her 2021-22 Union Budget, exactly a week from today.
- January 20, 2021 03:50 PM IST
In an exclusive interview with Moneycontrol, Singhania also said that the Centre should come up with an urban jobs programme, and it should ramp up its privatisation plans, and the the trajectory of recovery in 2021 is expected to be a gradual upward slope.
- January 18, 2021 07:37 AM IST
The fiscal deficit -- difference between Centre's expenditure and revenue - is expected to be in the range of 7-8 percent of GDP in 2020-21. From that, it may gradually come down to 4 percent of GDP by 2025-26. This means that the long-standing medium- term target of 3 percent of GDP, as mandated by the FRBM Act, no longer holds.
- January 11, 2021 07:32 AM IST
The Centre is considering easing NPA classification period to between 120-180 days from 90 days, thus making permanent a measure adopted during the pandemic and the nationwide lockdown, a top government official told Moneycontrol. The person added that such a move would require legislative changes.
- January 08, 2021 07:31 PM IST
According to sources, economists who attended the meeting include former Rakesh Mohan, Ravindra Dholakia, Shankar Acharya, Arvind Panagariya, KV Kamath and Sonal Verma.
- January 07, 2021 10:44 AM IST
India, on its part to defend the equalisation tax aka Google Tax, said that its aim was to ensure a level playing field between local and foreign e-commerce companies, that the tax does not discriminate against any US company, and that it has no retrospective element.
- January 06, 2021 06:09 PM IST
We profile Finance Minister Nirmala Sitharaman and her budget-making team
- January 06, 2021 10:20 AM IST
The World Bank has forecast India's real gross domestic product growth to be 5.4 percent for fiscal year 2021-22, primarily due to the low base effect of the current year. However, unlike most other agencies, the multilateral organization has not upgraded its forecast for 2020-21, and still projects India's economy to contract by 9.6 percent this year.