Economy
Edible oil demand likely to decline during March-April amid COVID-19 lockdown
Edible oil imports and processing activities have also slowed down, but there is sufficient stock in the country to meet domestic demand, Solvent Extractors' Association of India (SEA) Executive Direc
Businesses hit by coronavirus may take months to return to normalcy, even if lockdown lifts in 21 days
The businesses facing a wallop due to slump in demand and zero footfall in the market may take up to 6 months to come back to normalcy.
ADB to invest $100 million in Indian infrastructure sector via NIIF
The investment announcement comes at a critical time for India, as the already sagging economic growth is feared to be taking a heavy hit due to the coronavirus pandemic.
Bankruptcy deadlines relaxed: IBC activity falling behind during lockdown can be finished later
If an IBC activity was to be carried out during the 21 days of lockdown announced by the centre, it can be completed after lockdown.
Covid-19 impact: Centre’s FY21 fiscal deficit seen at 5% or higher
Actual combined government deficit — Centre and states — could even reach double digit level next fiscal, frustrating FRBM mandate
Power demand dips by a quarter in just 10 days
Power demand has grown at a meagre 2.2% Y-o-Y in the April-February period this fiscal, with electricity consumption contracting for the fourth straight month in November due to an extended monsoon an
India to grow fastest among G20 economies despite Coronavirus; these countries to be worst-hit
"The global economic picture is looking bleak, with recessions in almost every developed economy across the world. We assume that there will be a recovery in the second half of the year," said Agathe
Bank of India cuts external benchmark lending rate; MSME, home, other loans to get cheaper
The bank’s lending rate is linked to the RBI’s repo rate which was reduced by 75 bps from 5.15 per cent to 4.40 per cent on March 27.
Tax evaders fill coffers with empty beer bottles
Margin scheme is employed in such transactions to avoid double taxation, as the goods, having once borne the incidence of tax, re-enter the supply and the economic supply chain.
ADB approves $300,000 aid to Bangladesh for tackling Coronavirus
The grant is part of the Asian Development Bank's Regional Support to Address the Outbreak of Coronavirus Disease 2019 and Potential Outbreaks of Other Communicable Diseases.
Minimising coronavirus damage: After poor, govt must now focus on small businesses, industries
For future stimulus announcements, the government can support industries such as airlines, travel and tourism and small players because they are now next in the firing line after daily wage labourers.
Covid-19 packages will take care of both people, corporates: Rajiv Kumar, vice-chairman, Niti Aayog
Today, the situation is very different for two-three reasons – medical services are much better developed, consciousness is very high, every economy has taken major steps to counter the spread and a
Moody’s pegs India’s 2020 growth at 2.5%, lower than China’s
ICRA, too, trimmed its growth projection to 4.2% for FY21 from 4.4%, despite the support from agriculture and government spending.
Lenders game for loan repayment moratorium
Bullet repayments, equated monthly installments (EMIs) and credit-card dues will all be eligible for deferment under the moratorium, without the accounts being classified as bad loans.
RBI unlocks Rs 3.74 lakh-crore chest to push banks to lend
Bankers lauded the liquidity bonanza as they expect credit demand to rise in the coming days as corporate revenues run dry and they look for funds to keep operations going.
P Chidambaram welcomes RBI measures but says EMI deferment ambiguous, half-hearted
"I had suggested that all due dates falling before 30 June may be deferred to 30 June. Borrowers have been made dependent on the bank concerned and will be disappointed," Chidambaram said.
Clear we have entered recession: IMF chief Kristalina Georgieva
With the worldwide economic "sudden stop," Georgieva said the fund's estimate "for the overall financial needs of emerging markets is $2.5 trillion."
Coronavirus effect: India’s forex reserves fall by a whopping $12 billion
The rupee hit an all-time low of Rs 76.15 against the US dollar on March 23 as foreign investors continued to withdraw money from domestic equity and debt market amid uncertainties due to the fast-spr
Coronavirus lockdown: Exporters urge govt to allow them to operate factories with minimum workforce
The FIEO suggested that "all manufacturing companies in exports should be allowed to operate with 50 per cent of the manpower with full sanitation and safety with social distancing norms as loss in ex
Coronavirus outbreak: Centre releases Rs 4431 crore to clear pending wages under MGNREGA, to pay all dues by April 10
The announcement was made at a time a countrywide lockdown to combat the coronavirus outbreak has left wage labourers with no work and financial resources.
RBI fights back: Shaktikanta Das wages war on coronavirus-led economic crisis
RBI Governor Shaktikanta Das answers if a recession is underway, outlook on inflation, the significance of previous GDP estimates, other questions.
RBI extends deadline for meeting last tranche of capital conservation buffer by 6 months
The move would leave about Rs 35,000 crore capital in the hands of banks for lending to on-lending to productive sectors of the economy.
NITI Aayog VC Rajiv Kumar hails RBI’s move to deal with COVID-19 impact on economy
Niti Aayog CEO Amitabh Kant also said the RBI has taken progressive and timely measures by giving 3 months moratorium on payments of term loan instalments (EMI) & much-desired relief on interest on w
India’s economic growth likely to decline by 200 bps in FY21: Yashwant Sinha
The Economic Survey had projected India's economic growth at 6 per cent to 6.5 per cent in the next financial year starting April 1.
Analysts welcome RBI stimulus measures
Analysts were unanimous in welcoming RBI's rate cuts, forbearance on loans and liquidity easing measures, saying the economy requires stimuli in the present circumstances.
PM Modi, Sitharaman, industry welcome RBI ‘bazooka’ of interest rate cut, liquidity measures
From Prime Minister Narendra Modi to rating agencies and economists, all welcomed the Reserve Bank of India's steps to reduce the cost of borrowing and infusing liquidity in the market in its war agai
RBI’s decisions to provide much needed relief to people, businesses, says Piyush Goyal
Commerce and Industry Minister Piyush Goyal on Friday said decisions of the RBI will provide much needed relief to people and businesses.
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Budget 2020
- Budget 2020 hasn't violated fiscal discipline: FM Sitharaman
- Budget 2020 was disappointing for lacking vision; but fiscal, taxation measures welcome: EAC-PM member Ashima Goyal
- Budget 2020: FM Nirmala Sitharaman says govt willing to do more beyond Union Budget to boost growth
- Budget 2020: FM says green shoots of recovery visible, points at worse macro-economic fundamentals under UPA
- Budget and the economy: What can we expect after this Budget?
- Budget 2020: FM Sitharaman takes on P Chidambaram over defence budget allocation
- Budget 2020 proposals on DDT, personal tax not to impact MF industry: Franklin Templeton
- Budget 2020: Chidambaram slams Modi govt; says economy close to collapse, unemployment making India poorer
- Budget 2020: How ESOP tax changes will benefit start-up employees
- Economic Survey 2020: Fudging food and fertiliser subsidy
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