Category: Economy

Fitch Ratings (File image/PTI) The impact of COVID-19 second wave on a majority of Indian corporates is “manageable”, market analyst Fitch Ratings Inc said on May 31. The fallout on the private sector is not as worse as seen in the same period during 2020, it said. The reasons behind businesses surviving the worst brunt […]

Fitch Ratings (File image/PTI) The impact of COVID-19 second wave on a majority of Indian corporates is “manageable”, market analyst Fitch Ratings Inc said on May 31. The fallout on the private sector is not as worse as seen in the same period during 2020, it said. The reasons behind businesses surviving the worst brunt […]

Fitch Ratings (File image/PTI) The impact of COVID-19 second wave on a majority of Indian corporates is “manageable”, market analyst Fitch Ratings Inc said on May 31. The fallout on the private sector is not as worse as seen in the same period during 2020, it said. The reasons behind businesses surviving the worst brunt […]

Fitch Ratings (File image/PTI) The impact of COVID-19 second wave on a majority of Indian corporates is “manageable”, market analyst Fitch Ratings Inc said on May 31. The fallout on the private sector is not as worse as seen in the same period during 2020, it said. The reasons behind businesses surviving the worst brunt […]

The Centre is set to declare the GDP estimates for the last quarter (January- March) of 2020-21 and the yearly economic growth data for FY21 later in the day offering an assessment of the true impact of the COVID-19 pandemic. India’s economy had shrunk by a massive 24.4 percent in the April-June quarter of the […]

The Centre is set to declare the GDP estimates for the last quarter (January- March) of 2020-21 and the yearly economic growth data for FY21 later in the day offering an assessment of the true impact of the COVID-19 pandemic. India’s economy had shrunk by a massive 24.4 percent in the April-June quarter of the […]

May 31, 2021 / 11:06 AM IST Ten Things To Look For In The Q4 GDP Numbers We already have the government’s earlier estimates for Q4 growth, which are likely to be exceeded. But we can draw no conclusions about the trend, as the second wave will badly hit growth for at least… May 31, […]

A Pew Research report from March — before the second wave of COVID-19 cases — suggests that India’s poverty rate had risen to 9.7 percent in 2020, up from January 2020 forecast of 4.3 percent. People shop at a crowded marketplace in Mumbai, India (File image: Reuters/Niharika Kulkarni) The novel coronavirus pandemic may have shrunk […]

Representative image Banks have come up with three sets of products to build a “COVID book” under the Reserve Bank of India’s (RBI) liquidity scheme and the expanded Emergency Credit Line Guarantee Scheme (ECLGS 4.0) for healthcare institutions, the State Bank of India (SBI) chairman Dinesh Khara said on May 30. The measures include a […]

In April 2020, the Ministry of Finance decided to put on hold the increment in dearness allowance (DA) for over 50 lakh Central government employees and 61 lakh pensioners till July 2021 due to the COVID-19 crisis. Lakhs of Central government employees and pensioners, who get salaries and pensions as per the 7th Pay Commission, […]

File image of Finance Minister Nirmala Sitharaman and Minister of State for Finance Anurag Thakur at GST Council Meeting (Image: Finance Ministry Twitter handle) The Goods and Service Tax Council can consider ‘zero rating’, or complete tax exemption, to products crucially needed in the fight against COVID-19, in its next meeting on May 28, experts […]

As per the income tax law, individual taxpayers filing ITR-1 or 4 are required to file their return for the previous financial year (2020-21), which ended March 2021, by July 31, 2021. The income tax (I-T) department recently extended the deadline for filing returns for the year 2020-21 amid coronavirus pandemic. Along with easing pressure […]

“There are new leaders emerging; in the past, it was HDFC Bank and Kotaks’ of the world, but they have underperformed and ICICI Bank and SBI have taken over a trend which I see continuing over months to come,” said Gautam Shah. CNBC-TV18 May 28, 2021 / 02:51 PM IST On Nifty, Shah said, banks […]

“Trade between India and Singapore is a little over USD 19 billion,” said the High Commissioner. Notwithstanding the COVID-19 pandemic, trade between India and Singapore is likely to touch USD 21 billion in financial year 2020-21, India”s High Commissioner to Singapore P Kumaran has said. “Trade between India and Singapore is a little over USD […]

Recovering GST on COVID-related products from people who struggled for ambulances, beds, ventilators, oxygen, medicines, vaccines during the pandemic amounts to “cruelty and insensitivity”, Priyanka Gandhi said in a tweet in Hindi. PTI May 28, 2021 / 10:25 AM IST Discussions to extend the GST compensation cess levied on items such as cars are also […]

India’s economic outlook has weakened again, albeit slightly, with worst-case scenario forecasts suggesting the toll from the coronavirus pandemic could be much deeper, stoking fears the job crisis may worsen over the coming year, a Reuters poll found. Renewed restrictions to curb the current coronavirus wave have stalled economic activity, leaving many millions out of […]

File image of Finance Minister Nirmala Sitharaman and Minister of State for Finance Anurag Thakur at GST Council Meeting (Image: Finance Ministry Twitter handle) The Goods and Service Tax Council can consider ‘zero rating’, or complete tax exemption, to products crucially needed in the fight against COVID-19, in its next meeting on May 28, experts […]

As much as 59 percent of startups and MSMEs are likely to downsize, shut shop or sell business in this year The ferocious second COVID-19 wave and extended regional lockdowns impacted sales which has affected working capital of most companies, already scrambling against the pandemic’s effects since 2020. (Image: Shutterstock) Almost 60 percent of existing […]