Business

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

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

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.

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

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