Author: Economy

Budget 2020 was presented before the countrywide lockdown was imposed in response to the pandemic. India Ratings and Research on January 28 said it expected the FY22 fiscal deficit to be 6.2 percent of GDP. As Finance Minister Nirmala Sitharaman gears up to present the Budget 2021 amid the ongoing COVID-19 pandemic and the likelihood […]

Budget 2021: A look at FM Nirmala Sitharaman’s team who are involved in preparing Budget. Budget 2021: Team FM. (Image courtesy: NEWS18 creative) (Image courtesy: NEWS18 creative) Budget 2021: Tarun Bajaj, Secretary, Department of Economic Affairs -1988-batch officer from Haryana cadre.(Image courtesy: NEWS18 creative) Budget 2021: Tuhin Kanta Pandey, Secretary, Department of Investment & public […]

Finance Minister Nirmala Sitharaman. A pandemic which damaged the global economy, the deepest quarterly contraction in Independent India’s history, the first annual contraction in four decades, the second highest number of COVID-19 cases worldwide, millions of jobs lost, a severe loss of activity across sectors, and slow recovery in others. This is the reality facing […]

Citing a recent International Monetary Fund (IMF) report which projected India to grow at 11.5 per cent in 2021, BJP spokesperson Gopal Krishan Agarwal said the country’s economy has witnessed a ‘V’ shaped recovery after being hit by the pandemic. PTI January 28, 2021 / 03:51 PM IST Representative image (Credit: MoneyControl.Com) Ahead of presentation […]

On January 29, when finance minister Nirmala Sitharaman tables the annual Economic Survey in Parliament, policy wonks, researchers and those who track the Indian economy will be keenly watching out for one number: the growth projections for 2021-22. The survey, often described as the government’s official report card on the economy, will contain growth projections […]

Indian families prefer a male child and the Sex Ratio at Birth (SRB) data has long been skewed as a result. But there are winds of change. SRB has improved by 16 points from 918 in 2014-15 to 934 in 2019-20, per data by the Ministry of Women and Child Development. Of 640 districts covered […]

Retail inflation, measured as Consumer Price Index (CPI), declined in December 2020 to 4.59 percent from 6.93 in November. (Image: Shuttershock) The government is mulling to raise the inflation target to 5 percent from the current 4 percent, which may give the Reserve Bank of India (RBI) more room to cut policy rates. The government […]

Amid coronavirus pandemic, the Income Tax (I-T) department had extended the return filing deadline three times. The July 31 due date was extended till November 30 in May 2020. Later it was again extended till December 31. The last date to file income tax returns (ITR) was on January 10 for the financial year 2019-20 […]

Gopinath also said that a larger budget deficit than what India usually has can be expected. Gita Gopinath Gita Gopinath, the Chief Economist of the International Monetary Fund (IMF), said that India has entered 2021 with better prospects than what was expected last year and has been able to restore activity faster than many economies. […]

Representative Image Foreign direct investment (FDI) inflows from April to November 2020 have increased by 22 percent (YoY) to $ 58.37 billion – the highest for the first 8 months of any fiscal, the Ministry of Commerce and Industry on January 27 said. FDI equity inflows in the first eight months of FY21 rose by 37 percent […]

The Economic Survey of India is a detailed report on the performance or state of the economy during the previous year, future challenges and the way forward. It is typically presented a day before the Union Budget. The flagship report is prepared by the Economics Division of the Department of Economic Affairs (DEA) under the guidance […]

Source: Reuters Concerned over the COVID-19 pandemic having widened inequality, IMF Chief Kristalina Georgieva said on Tuesday all hands are needed on deck, be it businesses, governments or even central banks, for a sustainable and balanced recovery. Speaking at the World Economic Forum’s online Davos Agenda Summit, she said the IMF is projecting 5.5 per […]

With increase in 35 paise, the cost of petrol and diesel is at Rs 92.62 per litre in Mumbai. Diesel price now cost Rs 76.23 per litre in Delhi and In Mumbai, the diesel prices cost is Rs 83.03 per litre. (File image: Reuters) Petrol and Diesel prices, on January 26, increased by 35 paise […]

India’s economy is projected to grow at 7.3 per cent in 2021, even as it is estimated to contract by 9.6 per cent in 2020 as lockdowns and other efforts to control the COVID-19 pandemic slashed domestic consumption, the UN has said. The World Economic Situation and Prospects 2021, produced by the United Nations Department […]

India will likely raise its health spending to 1.2-1.3 trillion rupees ($ 16.46-$ 17.83 billion) in the fiscal year starting April 1, from the current year’s projected spending of 626 billion rupees, the officials told Reuters. Reuters January 26, 2021 / 11:36 AM IST Representative image India is likely to double health spending in the […]

India’s gross domestic product (GDP) is expected to contract by 8 per cent in 2020-21, according to the latest round of FICCI’s Economic Outlook Survey. The annual median growth forecast by the industry body is based on responses from leading economists representing industry, banking and financial services sector. The survey was conducted in January. The […]

The government has been increasing the credit target for the farm sector every year and this time too, the target is likely to be increased to around Rs 19 lakh crore for the 2021-22, sources said. PTI January 26, 2021 / 01:17 PM IST Agriculture, forestry and fishing sector recorded a growth of 3.4 percent. […]

In the year-ago period, companies in India had invested USD 2.51 billion in their foreign firms (joint ventures / wholly-owned units). PTI January 26, 2021 / 12:27 PM IST Overseas investment by domestic firms fell by over 42 per cent to USD 1.45 billion in December 2020, according to Reserve Bank data. In the year-ago […]