Author: Economy

Anagha Deodhar, Chief Economist at ICICI Securities, feels high-frequency indicators are showing strong recovery. “This economic recovery is not just due to festive or pent-up demand but is more durable and genuine. Also, growth is likely to be much stronger in FY22,” she said in an interview to Moneycontrol’s Sunil Shankar Matkar. edited excerpt:- Q) What […]

Emkay Wealth Management’s head of research  Joseph Thomas says the Reserve Bank of India’s plan to hike the cash reserve ratio (CRR) will have an impact on the cost of borrowing for corporates as well as other borrowers. In its final bi-monthly monetary policy review, the Reserve Bank of India left repo rates unchanged at 4 percent […]

The Monetary Policy Committee (MPC) members unanimously voted for keeping the policy repo rate unchanged at 4 percent on February 5, while maintaining accommodative stance to revive growth and maintain liquidity. The reverse repo rate was also unchanged at 3.35 percent. “All members of the MPC voted to continue with the accommodative stance as long […]

Union Minister Jitendra Singh on Friday said the Union budget 2021-22 truly reflects Prime Minister Narendra Modi’s vision for “minimum government, maximum governance”. Speaking to media persons, he said, as one of the six pillars of the visionary budget, it outlines plans for reforms as one of the core principles of minimum government, maximum governance. […]

Further, growth is projected in the range of 26.2 percent to 8.3 percent in H1FY22 ?and 6 percent in Q3FY22. Shaktikanta Das The Reserve Bank of India’s Monetary Policy Committee sees Gross Domestic Product (GDP) growth rate for FY2021-22 is projected at 10.5 percent, Governor Shaktikanta Das said today. Further, growth is projected in the […]

Gerry Rice, Director of Communications at the International Monetary Fund (IMF), at a press conference here said the Union Budget rightly focuses on health, education, public infrastructure and, if fully implemented, can help increase India’s growth potential. PTI February 05, 2021 / 08:38 AM IST Source: Reuters The IMF welcomed India’s Union Budget for focussing on […]

Representative image (PC- MoneyControl.Com) The Finance Minister’s announcements on February 1, 2021 have been large and widespread. There are substantial changes in the text of tax laws which affect all classes of indirect taxes such a GST, Customs and even the no longer commonly applicable Central Excise laws. In this article, we seek to examine […]

The measures taken by the Modi government to deal with the latest economic crisis are less inflationary than interventions by previous governments, Chief Economic Advisor Krishnamurthy Subramanian said, in an exclusive interview with Moneycontrol. The chief economic advisor, whose latest economic survey set the intellectual argument for the Centre to go for a fiscal expansion, […]

Global crude oil prices rose to their highest in about a year this week as production cuts by the Organization of the Petroleum Exporting Countries and their allies including Russia tilted the market balance towards a deficit. Reuters February 04, 2021 / 02:25 PM IST Source: Reuters India’s oil minister Dharmendra Pradhan warned on Thursday […]

The government is sticking to the target of becoming a USD 5 trillion economy by 2024-25 and emphasis on infrastructure sector and other initiatives taken in Budget 2021-22 are aimed at achieving the goal, Economic Affairs Secretary Tarun Bajaj has said. The Budget presented by Finance Minister Nirmala Sitharaman on Monday has given a big […]

The Reserve Bank of India’s (RBI) three-day Monetary Policy Committee (MPC) meeting is underway and the verdict is due on February 5. After the “growth-oriented” Union Budget 2021, softer inflation prints along with signs of improvement in the economy, there is some talk of the central bank tweaking policy rate. Retail inflation fell sharply to […]

Minister of State for Finance Anurag Thakur is confident that even though some Budget targets may seem difficult, they are all achievable. Speaking to Moneycontrol in an exclusive post-budget interview, Thakur said that the divestment target of Rs 1.75 lakh crore for 2021-22 will not only be met, but will be exceeded as well. He also […]

Finance Minister Nirmala Sitharaman has presented a pragmatic budget with positive objectives for long-term growth. Generally, if the government wants to increase its revenues, the easiest approach is to increase the direct and indirect taxes. However, with the Union Budget 2021, Finance Minister, Nirmala Sitharaman took a bold step by not burdening the innocent taxpayers […]

Equity benchmarks Sensex and Nifty are trading at record high levels, reinforcing the optimism in the market. In a conversation with CNBC-TV18 on February 2, Rakesh Jhunjhunwala, known as the big bull of Dalal Street, exhorted investors to believe in India. “India will overtake China in the next 25 years. The market is giving chances, […]

RBI’s Monetary Policy Committee is forecast to leave the key policy rate unchanged, but watchers feel Union Budget 2021 could trigger policy changes. The Reserve Bank of India’s (RBI) three-day Monetary Policy Committee (MPC) meeting is scheduled to begin on February 3. The six-member MPC, headed by RBI Governor Shaktikanta Das, will share the outcome […]

Source: AFP Humanity’s unbridled growth in recent decades has come at a “devastating cost to nature” according a wide-ranging international review on the vital economic role played by our living planet. The 600-page rundown of scientific material commissioned by the British government highlighted the precarious state of global biodiversity and warned that nothing short of […]

CBDT chief PC Mody Corporate tax collection would take a year or two to stabilise and reflect the full impact of the corporate tax rate reduction announced in 2019, PC Mody, chairman at Central Board of Direct Taxes (CBDT) told Moneycontrol in an exclusive interview a day after the Union Budget 2021-22 was presented. “Whatever […]

Concerns over the impact on the sovereign rating have been sidestepped in the budget by using a wider fiscal deficit for addressing the growth needs, they said. PTI February 01, 2021 / 05:44 PM IST Economists hailed Finance Minister Nirmala Sitharaman for a “bold budget” focused on fiscal expansion but flagged concerns over the proposals […]