Economy

Exports of 16 out of 30 sectors in negative zone in September

Exports of over half of the 30 sectors closely monitored by the Commerce Ministry were in the negative zone in September, according to official data. Overall exports in September contracted by 2.15 p

GST compensation paid to states declines to Rs 11,900 crore in August-September

The bi-monthly GST compensation paid during the June-July period was Rs 14,930 crore, nearly four-fold jump from Rs 3,899 crore paid in April and May.

Arvind Pangariya cautions: Import duty hikes can be counter-productive

Move to contain CAD doesn’t augur well for economy, he says.

Demonetisation, GST held back growth: Raghuram Rajan

Says 7% growth not enough; centralisation of power a problem.

China touts success of import fair with $58 billion in deals

Chinese companies signed a combined $57.83 billion worth of intended one-year deals at the country’s first import fair this week, China Central Television reported, as the government seeks to boost

Demonetisation, GST held back India, current economic growth rate not enough, says Raghuram Rajan

Demonetisation and the Goods and Services Tax (GST) are the two major headwinds that held back India's economic growth last year, former RBI Governor Raghuram Rajan has said, asserting that the curren

PM Narendra Modi to become first head of government to address Singapore Fintech Summit, to address participants from 100 countries

PM Modi will address over 30,000 participants from 100 countries, 230 leading experts from public policy, finance and technology sectors, and at least 400 exhibitors at the festival.

Chidambaram accuses Eco Affairs Secretary of ‘fudging figures;’ says FY14 fiscal deficit was 4.4%, not 5.1%

Accusing Economic Affairs Secretary Subhash Chandra Garg of ‘fudging figures’, former Finance Minister P Chidambaram on Saturday said the fiscal deficit in FY14 was 4.4 percent and not 5.1 percent

RBI surplus debate: Why central bank transfers surplus profit to government, how it works; key things to know

Clearing stand on the issue of RBI's surplus transfer, Principal Economic Adviser Sanjeev Sanyal on Friday said these reserves should be a legitimate area of discussion and discussed at the board leve

Government’s demand for surplus reserves may escalate standoff with RBI

The matter is pending before the board of the Reserve Bank of India and may be taken up at its next meeting likely on Nov. 19, a government official told reporters in New Delhi, asking not to be ident

Misinformed debate on government trying to loot RBI surplus, no amendment needed for it, says Sanjeev Sanyal

Principal Economic Advisor Sanjeev Sanyal on Friday rejected the ongoing debate that the government is trying to loot RBI’s capital by calling it a ‘misinformed opinion.’

Here’s what happened at RBI meet on demonetisation day: RBI rejected Modi’s black money claim

The minutes were signed by RBI Governor Urjit Patel on December 15, 2016, five weeks after the meeting was held.

GAIL’s ‘Make in India’ push: Buys steel pipe worth Rs 1,100 crore from domestic steelmakers

Providing a major fillip to Narendra Modi-led government’s ‘Make in India’ programme, gas utility major GAIL has purchased steel worth Rs 1,100 crore from domestic steelmakers.

Government not seeking Rs 3.6 lakh crore from RBI: DEA Secretary

The government Friday said it is not seeking Rs 3.6 lakh crore capital from the Reserve Bank but is only in discussion for fixing appropriate economic capital framework of the central bank.

Government has no proposal to ask RBI for Rs 3.6 lakh crore, fiscal math on track, says Subhash Chandra Garg

Clearing the air on the plan to seek Rs 3.6 lakh crore from the RBI, Department of Economic Affairs Secretary Subhash Chandra Garg on Friday said that the government’s “fiscal math is completely o

Filing IT returns in India much simpler than US, Nilesh Shah says after jump in ‘Ease of Doing Business’ rank

After India’s made rapid progress in the World Bank’s ‘Ease of Doing Business’ rankings, fund manager Nilesh Shah noted that filing income tax returns in India is much simpler than filing in t

Difficult-to-predict India economy inspires new measuring tools

The world’s fastest-growing economy is also one of the most difficult to decipher. A change in the methodology to calculate gross domestic product is partly why India’s data is puzzling and is pro

Narendra Modi is still fighting demonetisation damage two years later

Two years after India’s Prime Minister Narendra Modi shocked the nation by banning high-value cash notes, the opposition is still trying to score political points from the damage done to the economy

Demonetisation Anniversary: Government, Opposition in a verbal slugfest again

Demonetisation boosted tax base, reduced cash in circulation, stoked formalisation, says FM; it failed miserably, says Opposition, warns against more ‘unorthodox’ moves.

GST refunds of Rs 82,775 crore to exporters cleared; Rs 5,400 crore pending as on October 31

The finance ministry said on Thursday that GST refund of Rs 82,775 crore to exporters has been cleared as on October 31.

Unemployment rate reaches 2-year high of 6.9% in October, shows CMIE data; key things to know

In a bad news for the labour markets, the unemployment rate in the country was recorded at 6.9 percent in October 2018, highest in 2 years, according to the Centre for Monitoring Indian Economy (CMIE)

Modi’s demonetisation saved India’s economy from fake growth, collapse; RBI part time director Gurumurthy explains how

Earlier, in November 2017, Gurumurthy had written many articles terming demonetisation as a much-needed step for India’s economy much like liberalisation of the 1990s.

India’s economic growth to slow to 7.3 pc in 2019: Moody’s

Indian economy will expand 7.4 per cent in 2018, but the growth will slow down to 7.3 per cent in the next year as domestic demand tapers on higher borrowing cost due to rising interest rates, Moody's

Manmohan Singh calls Modi’s demonetisation ill-fated, ill-thought; says, yet to understand full impact

The demonetisation decision by the Narendra Modi-government was an ill-fated and ill-thought exercise which unleashed havoc on the people and economy, former Prime Minister Manmohan Singh said on the

US Federal Reserve’s tone will give clues on 2019 pace: Decision-Day Guide

Federal Reserve policy makers meeting in Washington will weigh how to describe a moderation in U.S. economic growth as they reinforce expectations for a fourth 2018 hike next month.

Chinese Exports Top Estimates Amid Rush to Skirt Higher Tariffs

Exports rose 15.6 percent in dollar terms in October from a year earlier, exceeding estimates for 11.7 percent Imports surged 21.4 percent, topping the estimate of 14.5 percent.

Demonetisation ‘key step’ in formalising economy, tackling black money: Arun Jaitley defends noteban

Demonetisation completes 2 years: As India completes two years of demonetisation today, Finance Minister Arun Jaitley has once again come out in support of the exercise explaining how the noteban by t

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