Economy

Skill India: 70% of Indian youth don’t even know about government’s skill development programmes

While 70% of Indian youth is not aware of government-run skill development programs, 76% of the respondents report being very interested in pursuing skills development training.

China says will further open up its economy, slams rising protectionism

Chinese Premier Li Keqiang said on Monday Beijing will further open up its economy in the face of rising protectionism, as he headed for meetings with Asia-Pacific leaders in Singapore that are expect

Coal stocks plunge to 5-year low as power demand rises; how this can affect government’s fiscal math

Coal stocks down: Amid a sudden rise in coal demand from the power sector, the stocks of coal stocks fell to a 5-month low of 21 million tonne (mt) in the month of October, triggering fear of power pl

Government PSU dividend income may fall 20% short of budget this FY; here’s what PSU bosses say

Last year, dividend payouts by some CPSEs exceeded their net profits.

Boosting growth: Arun Jaitley says strengthening banks immediate priority

Jaitley’s statement comes ahead of a much-watched RBI board meet on November 19, where the RBI top management and the government are likely to take divergent positions on a host of issues.

GST a monumental reform, hit growth only for 2 quarters: Finance Minister Arun Jaitley

The remarks come a day after former RBI Governor Raghuram Rajan blamed the indirect taxation reform for derailing the India's growth story. Jaitley did not name Rajan.

Gold revaluation, stronger rupee lift India’s Forex reserves: Analysts

According to Sajal Gupta, Edelweiss Securities' Head for Forex and Rates, the RBI might have also bought US dollars on lower levels, when the Indian rupee strengthened.

RBI vs Govt: Discussion around invoking Section 7 unfortunate, says Ex RBI Deputy Governor

Section 7 of the RBI Act gives special powers to the government to issue directions to the Reserve Bank governor on issues of public interest.

RBI vs Govt: Surplus, liquidity issues likely to rock Reserve Bank’s November 19 board meeting

According to sources, the board meetings are pre-decided and the agenda is also circulated much in advance. However, board members can raise off-agenda items in the meeting.

Disinvestment department to frame guidelines for sale of enemy shares

The disinvestment department will soon come out with guidelines for sale of 'enemy shares' after consulting enforcement agencies of the revenue department, which have experience in auctioning confisca

BREXIT PANGS: JPMorgan may lead $283 billion shift to Frankfurt

The post-Brexit estimates below are according to people familiar with the matter and figures for 2017 are from the annual reports of the bank’s German subsidiaries; all figures are in billion of eur

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

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