Economy

Here’s how many people under Ujjwala Yojna asked for LPG refill

The government, in August this year, achieved the target of distributing 5 crore partially-free LPG gas connections poor families, eight months ahead of the target.

Modi’s 30-reform report card: Only 9 done, 6 not started, 15 partially done; here’s full list

In the last 4.5 years, of the 30 major reforms, the government has been able to complete nine of them, while six have not been started and 15 have been partially achieved

Modi government wants RBI governor Urjit Patel out like Raghuram Rajan, says P Chidambaram

Senior Congress leader P Chidambaram has claimed that the Narendra Modi government wants Reserve Bank India (RBI) governor Urjir Patel to go, which will be a "repeat of the Raghuram Rajan story."

India becomes one of 8 countries to get waiver on Trump’s Iran sanctions; here’s how

India has become one of the eight countries to get a waiver on the sanctions imposed on Iran by the Donald Trump administration.

Can central banks survive onslaught of populists?

In India, reports emerged this week that the government might invoke a never-before-used section of the law governing the Reserve Bank of India to force it to reverse course on some recent controversi

Modi’s Diwali gift to MSME sector: Here’s full list of 12 decisions announced for small businesses

Prime Minister Narendra Modi launched 'MSME Support and Outreach Program' and announced twelve big decisions to support the growth of small businesses in the country.

Iran oil sanctions: India, 7 others get US waiver

Treasury secretary Steven Mnuchin said the US is “intent on ensuring that global funds stop flowing to the coffers of the Iranian regime”.

RBI Vs Govt, again! Peace moves go for toss after finmin barb, Reserve Bank gets in another shot

The fragile peace between the finance ministry and the central bank was ruptured on Friday when economic affairs secretary Subhash Chandra Garg took a pot shot at Reserve Bank of India (RBI) deputy go

RBI creates room for banks to lend more to NBFCs

In a move aimed at easing a liquidity crunch faced by non-bank lenders, the Reserve Bank of India (RBI) on Friday allowed banks to offer partial credit enhancement (PCE) to bonds issued by non-banking

Outreach programme: GST-hit MSMEs get 12-piece Diwali gift set from Prime Minister

Bogged down by the twin blows of demonetisation and the goods and services tax (GST), the country’s micro, small and medium enterprises (MSMEs) on Friday received a shot in the arm, with the Prime M

Procurement of moong, urad picks up pace in Maharashtra

Moong (green gram) and urad (black gram) procurement in Maharashtra at minimum support price (MSP) is slowly gathering pace. Some 6,581.847 quintals of moong have been procured from 1,164 farmers by t

US to allow 8 countries to continue buying Iran oil after sanctions on November 5, says Mike Pompeo

The US has agreed to temporarily allow eight countries to continue buying Iranian oil after it reimposes crippling sanctions on Tehran on November 5, Secretary of State Mike Pompeo said on Friday, cit

Modi’s ‘unwavering commitment’ led to huge jump in Ease of Doing Business: World Bank chief Jim Yong Kim

As India jumped 23 ranks on Ease of Doing Business index, World Bank chief Jim Yong Kim praised Prime Minister Narendra Modi in a telephonic call.

Forex reserves down by USD 1.444 bn to USD 392.078 billion

Continuing its decline, the country's foreign exchange reserves slumped by USD 1.444 billion to USD 392.078 billion in the week to October 26 due to a fall in foreign currency assets, according to RBI

Cross-border capital flows source of financial fragility, says Raghuram Rajan

Cross-border capital flows have been a source of financial fragility, former RBI governor and top economist Raghuram Rajan has said as he underscored that countries should see how best they can benefi

China making efforts to make yuan dominant currency, says Gita Gopinath

China is following a recipe of what it takes to become a dominant currency, but currently the yuan remains far behind the US dollar in international financial transactions unrelated to trade, accordin

Domestic turmoil may see ECB draw-downs sniffing at $35-40 billion by March: Icra

The ongoing risk aversion and the resultant liquidity crunch and spike in interest rates, coupled with recent relaxation of norms for drawing forex loans by the Reserve Bank will push up external borr

From loans in just 59 minutes to rebate in interest rates, PM Modi announces 12 steps for MSME revival

Highlighting the importance of medium, small and micro enterprises (MSMEs), Prime Minister Narendra Modi today said that they are the identity of the Indian economy -- whether it is sarees of Banaras

NITI Aayog CEO says doubling women workforce in India can drive GDP growth

Only 24% of women in India work, compared with 48% across the globe. Therefore, to achieve this, there is a need to push women into employment.

India staring at over Rs 1 lakh crore GST revenue shortfall in FY19 despite October collection cheer

In Budget 2018, the government had set the GST revenue target for the financial year 2018-19 at Rs 12 lakh crore, putting it at a monthly average of Rs 1.07 lakh crore.

‘Wrath of Markets?’ DEA secy SC Garg’s tweet pokes RBI after Viral speech

An uneasy truce between Prime Minister Narendra Modi’s government and the central bank was tested two days after the administration said it respects the central bank’s autonomy. “Rupee trading a

Government initiating multiple reforms for doubling farmers income, says P K Mishra

The government is making efforts with an integrated approach and has initiated "multiple reforms" in order to achieve the target of doubling farmers' income by 2022, Additional Principal Secretary to

Big blow to Indian IT professionals; Trump makes H1-B visa norms even tougher

The new norm, introduced in H-1B labour application process, makes it mandatory for US employers to disclose the total number of non-Americans employed by them.

RBI’s, other Asia central banks’ pause in interest rate hike not going to last very long

The three Asian central banks leading the region’s tightening cycle have used a spell of relative calm to take a breather on raising interest rates -- but it’s not likely to last.

Donald Trump, Xi Jinping upbeat on US-China trade; US targets more Chinese firms

US President Donald Trump and Chinese President Xi Jinping expressed optimism on Thursday about resolving their bitter trade disputes ahead of a high-stakes meeting planned for the two leaders at the

A synchronized slowdown is looming in global growth: World economy this week

The risk of synchronized slowdown in global growth as Europe wobbles, China sputters and stock markets around the world keep crumbling dominated the world economy this week.

Subramanian Swamy backs Governor Urjit Patel in RBI vs Govt spat; slams Arun Jaitley

Subramanian Swamy -- a member of Modi’s ruling party whose criticism of Raghuram Rajan and the absence of any backing from the government contributed to him not seeking a second term as central bank

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