As Finance Minister Nirmala Sitharaman prepares her budget, the World Bank reports India’s economy grew by 7.2 per cent in 2018-19 in contrast to the recent Indian Central Statistical Office (CSO) estimate of only 6.8 per cent growth during the period. The Bank’s Economic Prospects Report released on Tuesday
New Delhi: Amid the rising mercury levels in India’s capital, the peak power demand touched 6,612 megawatt (MW), highest for the season and up by about 3,000 MW from the peak power demand recorded in the city in 2006. The power demand of the city had crossed the 6,000 MW mark last week and has been rising since then.
New Delhi/Mumbai: A booster dose in the form of further rate cut is expected from the Reserve Bank to rekindle economic growth which has been stunted by low demand, receding production and stagnant wages. Economy watchers contend that subdued food prices coupled with growth concerns allows RBI
In protest against the non-payment of his salary for the last 18 months, a contractual worker in West Bengal's Purulia Municipality climbed a tree and threatened to commit suicide by jumping down, police said on Saturday.
The trade and investment flow between India and the United Arab Emirates (UAE) are poised to expand rapidly with the launch of a major initiative by DP World, UAE Region. This consensus emerged on July 16 at a trade and investment seminar led by DP aWorld, UAE Region and jointly organised with the Confederation of Indian Industries
Mumbai: Foreign Portfolio Investors (FPIs)on Wednesday turned buyers for the first time in September. FPIs had been on a sell mode despite the roll-back of the tax surcharge on them
India’s Finance Minister Nirmala Sitharaman’s maiden budget offers a lot of promises — boost to investments, transformation of agriculture sector, infrastructure expansion, digitisation and creating a $5-trillion economy. Among the promises are a plan to infuse capital worth $10 billion and provide a partial
Mumbai: In a bid to strike a balance between the “inadequate” 25 basis points (bps) and “excessive” 50 bps, the RBI on Wednesday slashed key policy rates by an unconventional 35 bps, but markets slid as it revised down the economy’s growth forecast. Metal, PSU banks, auto and realty stocks contributed
The Reserve Bank of India (RBI) lowered its benchmark interest rates for a fourth straight meeting on Wednesday with a slightly bigger than expected cut, underscoring its worries about India’s near-five year low economic growth pace. The six-member monetary policy committee (MPC) cut the repo
It’s not even a month since India’s Finance Minister, Nirmala Sitharaman presented her maiden budget and the writing is on the wall — tough days are coming. Brace up (“India’s passenger vehicle sales drop at steepest pace in 2 decades,” Aug. 13, Gulf Today). The BJP and Modi who came to power for a second