NEW DELHI: Eminent economist and key Sherpa to G20 Dennis J Snower on Friday said it is vital for G20 countries to coordinate monetary and fiscal policies as there is a big risk of financial crisis in the future due to the COVID-19 pandemic. Addressing a virtual event organised by FCC South Asia, Snower said … Read more
The government released Rs 6,195 crore as the eight equated monthly installment of post-devolution revenue deficit grants to 14 states on Tuesday. “Based on the 15th Finance Commission interim recommendations, the Govt has released Rs 6,195.08 crore to 14 states on account of the eighth equated monthly installment of Post Devolution Revenue Deficit Grant,” finance … Read more
The pandemic-induced growth contraction and additional spending to support the needy amounting to a little over 2 per cent of the economy are likely to push the combined fiscal deficit to 13 per cent of GDP this fiscal – nearly double of the past year, according to a report. Similarly, these numbers will see the … Read more
Gita Gopinath, chief economist of the International Monetary Fund (IMF). Synopsis India’s new farm and labour laws are a step in the right direction and have the potential to strengthen the supply side and also help boost demand, along with some level of direct support, she told ET in an exclusive interview. NEW DELHI: More … Read more
Bangladesh is set to overtake India in terms of per capita Gross Domestic Product (GDP) in 2020-21, according to the latest projection shared by the International Monetary Fund (IMF). According to the IMF’s World Economic Outlook (WEO) report, India’s per capita GDP is likely to slump 10.5 per cent to $1,877 — the lowest in … Read more
RBI Governor Shaktikanta Das said on Friday, “India’s GDP to contract by 9.5 per cent in FY21.” The governor made the statement while addressing media at the end of the three-day meeting of the newly-constituted Monetary Policy Committee (MPC). He added, however, that given the current momentum if some sectors show signs of recovery which … Read more
Reserve Bank of India (RBI) Governor Shaktikanta Das on Friday announced that the central bank’s Monetary Policy Committee (MPC) has unanimously decided to keep the key rates unchanged while maintaining an accommodative stance. “Monetary Policy Committee voted unanimously to keep the policy repo rate unchanged at 4%. MPC also decided to continue with the accommodative … Read more
The World Bank has said India’s GDP is expected to further contract by 9.6% this fiscal as a reflection of the economic slump the country has suffered due to the national lockdown induced by the coronavirus pandemic. The World Bank on Thursday said that the nationwide lockdown and the stoppage put on income household as … Read more
New Delhi: The Ministry of Electronics and Information Technology (Meity) is working to enhance contribution of digital economy to 20 per cent of GDP in the next five years, a senior official said on Tuesday. “We have the vision to take the digital part of the economy from currently 7-8 per cent of GDP to … Read more
NEW DELHI: Taking a dig at the government, Congress leader Rahul Gandhi on Saturday said its “well planned fight” against coronavirus has allegedly put India in an “abyss” of GDP reduction of 24 per cent, 12 crore job losses, 15.5 lakh crore additional stressed loans and globally highest daily COVID-19 cases and deaths. The Congress … Read more