Author: Economy

“A fresh record has been created in Power Demand breaching the previous record of 1,85,820 MW which was created on January 20, 2021. Today the power demand touched 1,87,300 MW at 10:28 am. This again underscores the growing strength of our economy,” Singh said in a tweet. PTI January 22, 2021 / 02:41 PM IST […]

India Ratings and Research on January 22 said it expects Budget 2021 to focus on resolving the demand-side issues. India Ratings and Research (Ind-Ra) believes the major focus of the government to revive the COVID-19 battered economy has till now been on the supply side, but it is high time to change gears and focus […]

During the previous Budget, collection from direct and indirect taxes was pegged at Rs 24.23 lakh crore for FY21 ‘); $ (‘#lastUpdated_’+articleId).text(resData[stkKey][‘lastupdate’]); //if(resData[stkKey][‘percentchange’] > 0){ // $ (‘#greentxt_’+articleId).removeClass(“redtxt”).addClass(“greentxt”); // $ (‘.arw_red’).removeClass(“arw_red”).addClass(“arw_green”); //}else if(resData[stkKey][‘percentchange’] = 0){ $ (‘#greentxt_’+articleId).removeClass(“redtxt”).addClass(“greentxt”); //$ (‘.arw_red’).removeClass(“arw_red”).addClass(“arw_green”); $ (‘#gainlosstxt_’+articleId).find(“.arw_red”).removeClass(“arw_red”).addClass(“arw_green”); }else if(resData[stkKey][‘percentchange’] 0) { var resStr=”; var url = ‘//www.moneycontrol.com/mccode/common/saveWatchlist.php’; $ .get( “//www.moneycontrol.com/mccode/common/rhsdata.html”, function( […]

The Delhi government said that construction workers belong to the “poorest of poor section of society and were one of the hardest hit during the pandemic,” adding that the relief aid is “much-needed support during these difficult times.” Construction workers (Image: PTI) The Delhi government on January 20 granted COVID-19 aid of Rs 10,000 each […]

RBI | Representative Image. India’s GDP is within the striking distance of attaining positive growth, the Reserve Bank said observing that the letter “V” in the V-shaped recovery stands for vaccine. The Indian government launched the world’s biggest vaccination drive on January 16 to protect people from COVID-19. “What will 2021 look like? The shape […]

New Delhi: Home Minister Amit Shah looks on during the 49th Foundation Day celebrations of Bureau of Police Research and Development (BPR&D) at its headquarters in New Delhi, Wednesday, Aug 28, 2019. (PTI Photo/Vijay Verma)(PTI8_28_2019_000030B) The Indian economy isundergoing a ”V-shaped recovery” and the world is watching thesame in surprise, Union Home Minister Amit Shah said […]

Union Finance Minister Nirmala Sitharaman will present the Budget on February 1, 2021. Finance Minister Nirmala Sitharaman. The Centre is unlikely to modify personal income tax slabs during the upcoming Budget for 2021-22 financial year, CNBC-TV18 reported. However, the Ministry of Finance is considering granting income tax relief through other measures, the news channel reported. The current […]

Life insurers are struggling to sell traditional guaranteed return plans in the market amid the coronavirus. Why? Customers are keen to buy with-profit products—also known as participating products. The lure of these products is that they help policyholders get a cut of the profits of an insurance company in the form of bonuses or dividends. […]

Like every senior executive of India Inc, Harsh Pati Singhania, Vice Chairman and Managing Director of JK Papers, and President of All India Management Association, is keenly awaiting the upcoming Union Budget 2021-22. Singhania has also been the President of industry body FICCI in the past. In the last role especially, he worked closely with policymakers and […]

In a year of unprecedented challenges due to Covid19 and subsequent loss of livelihood for the rural poor, the UPA-era rural job guarantee scheme has been a life-saver. The Mahatma Gandhi National Rural Employment Guarantee (MNREGA) scheme has seen a record number of households as well as individuals demanding work in 2020-21. Until the morning […]

Modi released the assistance via video conference.Union Rural Development Minister Narendra Singh Tomar and Uttar Pradesh Chief Minister Yogi Adityanath were present on the occasion. PTI January 20, 2021 / 12:56 PM IST Prime Minister Narendra Modi addressing the nation while launching the COVID-19 vaccination drive (Image: YouTube/Narendra Modi) Prime Minister Narendra Modi on Wednesday […]

In October 2019, the first edition of the index was launched. The target of the index is to showcase the government’s initiative to create an innovation-driven economy. Niti Aayog The second edition of the India Innovation Index is going to be released by the NITI Aayog on January 20 in a virtual event. Vice Chairman […]

Top exporter Saudi Arabia has pledged additional voluntary output cuts of 1 million barrels per day (bpd) in February and March under a deal between the Organization of the Petroleum Exporting Countries and its allies including Russia, a group known as OPEC+. Reuters January 20, 2021 / 08:07 AM IST Source: Reuters India, the world’s […]

Petrol and diesel prices were hiked by 25 paise per litre each, according to a price notification from oil marketing companies. (File image: Reuters) Petrol price on Tuesday breached the Rs 85 a litre mark in the national capital and diesel neared record high after rates were raised for the second consecutive day. Petrol and […]

This month SBI and Axis Bank revised the interest rates on term deposits. Check out the latest fixed deposit rates in SBI, ICICI Bank, HDFC Bank, PNB and Axis Bank. ‘); $ (‘#lastUpdated_’+articleId).text(resData[stkKey][‘lastupdate’]); //if(resData[stkKey][‘percentchange’] > 0){ // $ (‘#greentxt_’+articleId).removeClass(“redtxt”).addClass(“greentxt”); // $ (‘.arw_red’).removeClass(“arw_red”).addClass(“arw_green”); //}else if(resData[stkKey][‘percentchange’] = 0){ $ (‘#greentxt_’+articleId).removeClass(“redtxt”).addClass(“greentxt”); //$ (‘.arw_red’).removeClass(“arw_red”).addClass(“arw_green”); $ (‘#gainlosstxt_’+articleId).find(“.arw_red”).removeClass(“arw_red”).addClass(“arw_green”); }else if(resData[stkKey][‘percentchange’] 0) […]

In a paper titled The Economy and Budget: Diagnosis and Suggestions, co-authored with Josh Felman, Subramanian argued that the government can build on its strengths, by extending new welfarism to additional goods and services, while continuing to expand coverage of the goods and services it has already targeted. Arvind Subramanian The government needs to find […]

China has re-imposed travel controls in some areas after a spate of COVID-19 cases in January but most of the country is unaffected. Associated Press January 18, 2021 / 08:38 AM IST China’s President Xi Jinping (File image) China’s economy grew 2.3 percent in 2020 as a recovery from the coronavirus pandemic accelerated while the […]

Representative Image Retirement fund body EPFO has settled 56.79 lakh COVID-19 non-refundable advance claims, and has disbursed Rs 14,310 crore till December 31, 2020, reflecting the adverse impact of the pandemic on the formal sector workforce. When the coronavirus-induced lockdown was imposed in March, the central government had allowed over 6 crore subscribers of the […]

The Index of Industrial Production (IIP) again threw a surprise in November, contracting by 1.9 percent after two months of growth. The IIP data has reflected Covid-19 slowdown. It fell by as much as 57.6 percent in April, and was negative from March to August, before showing growth in September and October. Analysts say the […]

The Indian economy will suffer lasting damage from the coronavirus crisis and after an initial strong rebound in FY22 (fiscal year ending March 2022) growth will slow to around 6.5 per cent a year over FY23-FY26, Fitch Ratings said on Thursday. “A combination of supply-side scarring and demand-side constraints – such as the weak state […]