News related to business and economy
Economic Environment The World Economic Outlook (WEO) Update of January 2020 published by IMF has estimated the global output to grow at 2.9 per cent in 2019, declining from 3.6 per cent in 2018 and 3.8 per cent in 2017. The global output growth in 2019 is estimated to be the slowest since the global […]
The Union Minister for Finance & Corporate Affairs, Smt. Nirmala Sitharaman presented the Economic Survey 2019-20 in the Parliament . The Key Highlights of the Economic Survey 2019-20 are as follows: Wealth Creation: The Invisible Hand Supported by the Hand of Trust India’s dominance as global economic power for three-fourths of economic history manifests by […]
The central government wrote August 29 to states suggesting options of borrowing money to make up for the Rs 2.35 lakh crore shortfall in GST revenues expected in the ongoing fiscal. Two days after first suggesting to states to borrow money to make up for the shortfall at the GST Council meeting, the finance ministry […]
The issue A CAG report had pointed out that there was short crediting of the GST cess collected by the central government totalling ₹47,272 crore tantamount diversion of the funds. The government’s statutory auditor had said in the financial audit report for FY19 tabled in Parliament that there was short crediting of the GST compensation […]
When we see the latest monetary policy of the RBI, it needs to be appreciated in the light of the problems facing the economy due to somber growth prospects of the global economy as well as the impact of the Covid shock. The central banking is facing an unprecedented challenge globally and it is at […]
On September 20, Rajya Sabha passed by voice vote the Farmers’ and Produce Trade and Commerce (Promotion and Facilitation) Bill, 2020 and Farmers (Empowerment and Protection) Agreement on Price Assurance and Farm Services Bill, 2020 amid protest by Opposition MPs. The stated objective of passing of these two farm bills is giving marketing freedom to […]
According to the Investment bank Goldman Sachs, the Indian economy would improve in the Q3 and Q 4 after shrinking by 23.9% in Q 2 2020-21 ending June. The Q2 performance of the Indian economy marked the worst performance among the G20 countries and significantly below expectation of most economists. However, notwithstanding the possibility of […]
In the latest report of the Department for Promotion of Industry and Internal Trade (DPIIT)’s on annual ranking of states and Union Territories (UTs) in the “Ease of Doing Business” Andhra Pradesh has topped for the third time in a row, followed by Uttar Pradesh which achieved the second place, by making a jump of […]
India’s Q1 Fiscal Year 2020-21 (the first quarter of the current fiscal) GDP contracted by 23.9 per cent GVA shrank by 22.8 per cent. This is not unexpected as the lockdown resorted to contain the spread of Covid-19 pandemic affected economic activities in almost all the sectors, and primarily the informal sector and the SMEs. […]
Finance Minister Nirmala Sitharaman had laid out (May 13) the measures that the Centre will to take to contain the economic impact of the coronavirus. Sitharaman’s announcement comes a day after Prime Minister Narendra Modi, in an address to the nation, said that the Government will spend as much as Rs 20 lakh crore to […]