Sri Lanka’s economy hit by coronavirus; decline in earnings from tourism, remittances

On May 23, President Gotabaya Rajapaksa spoke to Prime Minister Narendra Modi over the phone and urged India to provide a special $1.1 billion currency swap facility.
coronavirus, coronavirus impact, coronavirus impact on economy, coronavirus impact on sri lankan economy, Sri Lankan economy condition, covid-19, coronavirus pandemic, coronavirus outbreak, Easter Sunday sri lanka attacks News

PM Modi HIGHLIGHTS at CII: Coronavirus may have slowed economy, but India will get its growth back

PM Modi HIGHLIGHTS at CII: Prime Minister Narendra Modi is addressing CII's 125th anniversary where he said that the government has taken ample steps to revive faltering economy as alarm bells ring fo

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Moody’s trims India’s rating to lowest investment grade, retains ‘negative’ outlook

The agency, which put India a notch above peers' ratings in Nov 2017, now cites possibility of sustained period of relatively low growth and fiscal deterioration

Moody's Investors Service on Monday trimmed India’s sovereign rating by a notch to the lowest investment grade of Baa-2 and retained the “negative” outlook News

Cabinet clears rescue plan to soften Covid-19 blow to MSMEs, street vendors

MSMEs make up for 29% of the country's GDP and 48% of exports. India has about six crore MSMEs that offer jobs to more than 11 crore people.

The Cabinet on Monday decided to further widen the definition of micro, small and medium enterprises (MSMEs) to enable thousands of more units to take advantage of various official benefits News

Rains hit Kerala: Normal monsoon set to cheer up farm sector

A decent expansion of the farm sector will partly soften the blow to the economy, which is ravaged by the Covid-19 outbreak and is widely expected to experience sharply negative growth in the current

If the forecast holds true, this will be the second consecutive year that the country witnesses normal/above-normal monsoon rainfall. News

Tax talk: How TDS at reduced rates will affect taxpayers

Deduction and collection of tax at reduced rates till the end of the financial year 2020-21 shall leave more disposable income in the hands of recipients and shall have the desired impact of enhancing

Economy News

Government extends validity of scrips under export incentives schemes for exporters

The Foreign Trade Policy (FTP) provides tax incentives for goods and services under the Merchandise Exports from India Scheme (MEIS) and Services Exports from India Scheme (SEIS).

Economy News

Enhancement of turnover limit of MSME sector to help exporters

Federation of Indian Export Organisations (FIEO) President Sharad Kumar Saraf said that exclusion of exports turnover from total turnover will help in internationalisation of MSMEs and will bring thei

MSME sector, FIEO, exporters, MSME criteria, exports sector, AEPC chairman News

GST Council to discuss waiver of late fee for August 2017 to January 2020

The CBIC said there have been demands for waiver of late fee for returns which were required to be filed from the beginning of Goods and Services Tax, that is August 2017.

GST Council, GST returns,gst late fees, gst meting, Nirmala Sitharaman, CBIC, GST Council meeting, latest news on GST News

Cabinet decisions will bring positive changes in lives of farmers, labourers, workers: PM Narendra Modi

Monday's meeting was the first meeting of the Union Cabinet after the Modi 2.0 government entered its second year in office.

Cabinet decisions, indian economy, PM SVANidhi, Prakash Javadekar, MSMEs, employment opportunities, Modi 2.0 government News

Moody’s cuts India’s rating to lowest investment grade, three key factors that knocked India’s position

In a major setback, Moody’s today downgraded India’s sovereign credit rating by one notch to ‘Baa3’, while maintaining its negative outlook, citing risks from sustained low growth, among other

Moody’s warning follows a similar statement by Fitch and is expected to add to policy-makers’ unease, as they firm up a relief package to prop up the economy. News

Biggest challenge to put financial sector back on feet once India unlocks economy: Arvind Panagariya

Replying to a query on India's current macroeconomic situation, the eminent economist said that once normal functioning of life without masks and social distancing becomes feasible, growth will resume

Arvind Panagariya,indian economy, health crisis, niti aayog vice chairman, financial sector, Narendra Modi, GDP, MGNREGS, NBFC News

No economic recovery till 2022-23: India Ratings explains how lack of demand stimulus will hurt

"The near-absence of demand-side measures in the economic package will jeopardise recovery even in 2021-22 and 2022-23 and may even lead to a second-round impact on the economy," it said.

indian economy, economy package, GDP, India Rating, private consumption growth, lockdown, Reserve Bank of India,latest news of indian economy News

Farmers to earn more as govt raises MSP; cabinet okays other measures for farm sector, street vendors

The government has increased the MSP of Kharif crops to ensure high prices to the growers for their produce.

farm sector, agriculture, farmer, crops News

Punjab, UP among 5 states to evince interest for loans under Rs 90K cr liquidity package for discoms

Finance Minister Nirmala Sitharaman had on May 13 announced Rs 90,000-crore liquidity infusion into cash-strapped power distribution companies (discoms), facing demand slump due to the lockdown to con

liquidity package for discoms, discoms, Nirmala Sitharaman, lockdown, covid 19, PFC, REC, Central Electricity Authority News

Cabinet briefing Highlights: Cheap, easy loans for farmers, street vendors; equity funding for MSMEs

Union Cabinet Briefing | Highlights: The Union Cabinet today approved major economic support measures for MSMEs, farmers, agricultural sector employees, and street vendors, in what the government clai

agriculture, farm, farm output, agri reform, News

World Bank: Palestinian economy could shrink by 11%

The reports were both released ahead of a meeting this week of international donor nations that support the Palestinian Authority, the internationally recognized entity that governs autonomous areas o

World Bank, Palestinian economy, coronavirus pandemic, Palestinian Authority, israel,latest news on Palestinian economy News

Lockdown extension to have deep impact on Indian economy, says BofA report

Attempting to allay concerns of a wider gap, the brokerage said the Center's fiscal deficit is 1.80 per cent higher than the 4.5 per cent long term average, but the same is "justified".

lockdown, lockdown in India, lockdown impact on economy, lockdown impact on India's GDP, India's GDP forecast, Indian economy, indian economy slowdown News

Power demand recovering but still far below normal levels; here’s how much it fell in May from a year ago

Power demand in May fell 14.16 per cent to 103.02 billion units (BU) compared to 120.02 BU a year ago, though the fall is lower than 22.65 per cent in April.

power demand, electricity, power usage, power consumption, News

Modi’s economic package is spot on; here’s why it can’t be directly compared with other nations

Economic packages work directly through aggregate demand, mitigating risk, and enhancing access to funds, hence it is difficult to establish the quantum of fiscal stimulus components.

fiscal space, fiscal stimulus, revenue shortfall, covid 19, GDP,PSU, covid 19, current fiscal, market borrowing, economy news

Job loss at all-time high; manufacturing PMI second-lowest in May even as economic activity resumes

The manufacturing PMI marginally increased from 27.4 in April to 30.8 in May despite the partial lifting of lockdown restrictions.

PMI, manufacturing PMI, business activity, business optimism News

LPG gets costlier: Cooking gas cylinder to cost this much now in Delhi, Mumbai, Kolkata, other cities

A non-subsidised LPG cylinder will now cost nearly Rs 12 more in Delhi.

LPG, LPG gas, lpg prices up, indane, bhaat as, domestic fuel, cooking gas News

Asia’s factory pain worsens as China’s recovery fails to lift demand

The International Monetary Fund warned last month the global economy will take much longer than expected to recover fully from the virus shock, suggesting a downgrade to its current projection for a 3

coronavirus, coronavirus pandemic, coronavirus impact, coronavirus asian markets, coronavirus impact factory output, China's Caixin/Markit Manufacturing Purchasing Managers' Index, china factory output coronavirus, china economy coronavirus, japan factory activity coronavirus News

Coronavirus pandemic set to shrink Australian economy in Q1, worse yet to come

Even before the coronavirus-related mobility restrictions kicked in, Australia's economy was struggling from a devastating bushfire season, a slowdown in tourism and weak domestic demand.

coronavirus, coronavirus impact, coronavirus impact on economy, coronavirus impact on australian economy, australian economy condition, covid-19, coronavirus pandemic, coronavirus outbreak, coronavirus impact on Australian market News
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