Money

Photo: The Economic Times

IMF Expert Projects 11.5% Growth In Indian GDP By 2021; Targets $5 Trillion Economy

The International Monetary Fund has projected a growth of 11.5% in the GDP of India for the year 2021. The growth will support India firmly in reaching its target of $5 Trillion economy. Moreover, the IMF in its World Economic Outlook expects much better growth in the Indian economy as compared to china (8.1%). Wishing luck for the projections, Commerce and Industry Minister Piyush Goyal termed India as "Bright start in the Global Market".… read-more

Wed, 27 Jan 2021 - 02:10 PM / by Nikita Thakur

Tags: India, GDP, 5 Trillion Economy, IMF

TikTok

Photo: Good Word News

TikTok India To Retrench Staff After Govt Extends Ban On App

TikTok India is planning to retrench its staff citing the Centre’s decision to extend the ban on the app. In the January 27 letter, TikTok interim chief Vanessa Pappas wrote "we simply cannot responsibly stay fully staffed" with no respite from the government. However, the letter did not mention about the number of people TikTok will shed. Meanwhile, reports have suggested that TikTok employees have started to look for possibilities in newly… read-more

Wed, 27 Jan 2021 - 01:01 PM / by Bhavyata Kagrana

Tags: TikTok, India, China, Chinese Apps

Courtesy: LiveMint

 Microsoft office.

Photo: Macaw

Microsoft's Revenue Soars As Demand For Cloud, Gaming Services Rises

Microsoft has reported an increase of 50% in the subscription of its 'Azure' cloud-computing services for the last quarter. The growth was a part of Microsoft's 'Intelligent cloud' segment that jumped 23% to $14.6 billion. Besides, the company generated $5 billion quarterly revenue with 40% growth in gaming subscriptions following launch of double-Xbox consoles in November 2020. Reportedly, Microsoft logged an overall year-on-year revenue of… read-more

Wed, 27 Jan 2021 - 12:36 PM / by Harsh Vardhan

Tags: Microsoft Corp, Cloud Computing, Xbox, Azure, business

Courtesy: Hindustan Times

GDP

Photo: Moneycontrol

GDP Likely To Contract By 8% In Financial Year 2020-21: FICCI Survey

As per the FICCI's Economic Outlook Survey, India's GDP is expected to shrink by 8% in 2020-21. The survey has predicted that the industry and services sector can expand up to 10% and 9.2% respectively, whereas Agriculture and allied activities stood at 3.5%. Besides, it mentioned sectors like tourism, entertainment, and education are yet to see normalcy. However, the study expects a rise of 0.5% in the fourth quarter of the fiscal year.

Tue, 26 Jan 2021 - 08:52 PM / by Richa Nigam

Tags: GDP, India, FICCI, Economic Outlook Survey, business

Laborers Working

Photo: Gulf Today

100 Indian Billionaires' Wealth Increases By Rs 2.98 Lakh Crore: Report

According to Oxfam India's 'Inequality Virus' report, the wealth of India's 100 billionaires has increased to Rs 2.98 lakh crore since March 2020. This increase in wealth is enough to give 138 million poor Indians Rs 94,045 each and can also easily sustain the NREGS for the next 10 years. Besides, the report stated unskilled labour would take about 10,000 years to make what Mukesh Ambani made within an hour throughout the pandemic.

Mon, 25 Jan 2021 - 04:24 PM / by Richa Nigam

Tags: COVID-19 outbreak, OXFAM, Mukesh Ambani, MGNREGS, Indian Billionaires

TCS

Photo: Analytics India Magazine

TCS Becomes India's Most Valuable Company; Reliance At 2nd

Tata Consultancy Services (TCS) on January 25 outdid Reliance Industries Ltd (RIL) to become India's most valuable firm in terms of market capitalization. As per Bombay Stock Exchange (BSE) data, TCS' share price increased by almost 1.26%, thereby tapping an unparalleled Rs 3,345.25. At the day's highest level, TCS' market value attained a record high of Rs 12.55 lakh crore, while RIL descended by 4.84% to Rs 12 lakh crore.

Mon, 25 Jan 2021 - 03:13 PM / by Ashly Ann Varghese

Tags: TCS, RIL, BSE, Shares

Courtesy: NDTV

Representational Image

Photo: The Indian Express

Micro & Small Firms To Create 10.3M Jobs In Next Five Years, Says Report

A recent study by Azim Premji University, TISS and FICCI extrapolated that Micro and Small Enterprises can create 10.3 Million jobs in five years. The study suggested to create an Udyog Sahayak Enterprises Network (USENET) that will connect MSEs facilitating ease of doing business. Digitization, formalisation, availing of government loans and subsidies to be done through USENET, the joint proposal expects adding over 2-lakh crore in five… read-more

Sun, 24 Jan 2021 - 12:07 PM / by Nikita Thakur

Tags: INFORMAL JOBS, Economy, business, MSEs, USENET, FICCI, Employment

Mukesh Ambani

Photo: The Economic Times

Jio Starts Advanced Testing To Develop Wireless 5G Services In 2021

Mukesh Ambani's Reliance Jio has started the advanced testing of its 5G infrastructure to fulfill the wireless 5G network commitment in 2021. The fidelity was claimed following Jio registering record 15.5% increase in profit for the last quarter compared to its preceding quarter. Moreover, eying to tap about 300 million 2G users in India, Ambani said Jio will make the 5G affordable and available everywhere. However, airwaves for 5G are yet to… read-more

Sat, 23 Jan 2021 - 10:02 AM / by Nikita Thakur

Tags: Reliance, Jio Platforms, Reliance Jio, Mukesh Ambani

Courtesy: LiveMint

Stock Market

Photo: Money Control

Sensex Hits Historic 50,000-mark; Nifty Trades Above 14,700

Indian stock market spiraled in the opening trades of January 21 as the benchmark Sensex crossed the historic 50,000-point for the first time. Jumping 230.69 points from its last close, the Dalal Street almost doubled its value from March 2020 (25,638). Nifty also witnessed a bullish trend while trading above 14,700 points. The steeped rise has been caused by optimism linked to US President Joe Biden's economic resolutions and strong FII… read-more

Thu, 21 Jan 2021 - 10:15 AM / by Nikita Thakur

Tags: Sensex, Nifty, Indian Stock Market, Stocks, Joe BIden

Courtesy: LiveMint

Representational Image of Start Up

Photo: Tax Scan

Govt Names Byju Raveendran, Bhavish Aggarwal For Startup Council

Centre has appointed edu-tech platform Byju’s founder Byju Raveendran, Snapdeal co-founder Kunal Bahl and Ola’s Bhavish Agarwal and others as non-official members of National Startup Advisory Council. The NSAC will recommend steps to encourage innovation in various sectors among citizens across the country. Besides, it will assist in quick start, operation and exit for the startups. The NSAC's non-official panel will have stakeholders,… read-more

Wed, 20 Jan 2021 - 05:15 PM / by Nikita Thakur

Tags: business, Startups, Indian Startups, Byju Raveendran, Ola

Courtesy: The News Minute