Maharashtra CM Uddhav Blames BJP For Toppling State Govts, Poor Economy
On Shiv Sena’s annual 'Dussehra' event, Maharashtra CM Uddhav Thackeray said instead of toppling elected governments, BJP should focus on sorrow state of the economy and reconsider GST system. Taking a jibe at the Centre, he said people are now looking for alternatives and challenged BJP to topple Maharashtra government. He also questioned JDU leader Nitish Kumar on his 2014's ‘Sangh-mukt Bharat’ slogan, while slamming Maharashtra Governor… read-more
Tags: Maharashtra CM, CM Uddhav Thackeray, Bhagat Singh Koshyari, GST, GDP, Indian Economy, Dussehra
Courtesy: The Hindu
World Bank Chief Says 'Dire Outlook' For Indian Economy; Indicates 9.6% Dip in Economy
The World Bank Chief Economist for South Asia Hans Timmer has stated that though the Indian Government's effort with limited resources was commendable, the Indian economy has a “dire outlook” after the impact of the lockdown. A report by the bank mentioned that Indian economy might take a dip by around 9.6% for the fiscal year that started March 2020. However, a regional growth of 4.5% is expected in FY2021.
Tags: World Bank, Indian Economy, GDP, Growth
Courtesy: The Hindu
Rise In E-way Bills, GST Collection Hint Economic Growth: Finance Secretary
Over 5.74 crore e-way bills were generated in September, informed Finance Secretary Ajay Bhushan while saying that it indicates an "affirmative sign of economic growth". He stated that, on September 30, about 26 lakh e-way bills were generated, a record since the inception of the facility. He added that the e-way bills have grown by 9.3% and the GST collections have increased by 4% as compared to September 2019.
Tags: Finance secretary, Indian Economy, Covid-19, GST
Courtesy: ANI News
Government's Debt Surges by 7.1% At the End of June Quarter
A quarterly (April-June) report of Finance Ministry showed the Centre's total debt has increased to Rs 101.35 lakh crore, a 7.1% increase from the previous quarter. Besides, to overcome the revenue deficit, the government issued securities worth Rs 3,46,000 crore in the June-end quarter as against Rs 2,21,000 crore in the same period last year. The ministry said the borrowings have surged due to extra burden of COVID-19 on finances.
Tags: Liabilities, Government borrowings, FINANCE MINISTRY, Covid-19, Indian Economy
Courtesy: Financial Express
HCL Joins Club of Top-Ten Valued Firms in India
HCL Technologies Limited on September 17 entered the list of top ten publicly traded firms in India. HCL replaced ITC for the tenth position and its market value stood at Rs 2.21 trillion. Reportedly, HCL's shares have risen by 43.3% this year. Currently, Reliance Industries tops the list of firms' market capitalisation with Rs 15.71 trillion, followed by Tata Consultancy Services (Rs 9.31 trillion) and HDFC Bank (Rs 5.95 trillion).
Tags: HCL, TCS, RIL, Indian Economy
Courtesy: Live Mint
Development Post COVID-19 should be Human Centric: PM Modi
Prime Minister (PM) Narendra Modi while virtually addressing US-India Strategic Partnership Forum’s 3rd annual meet stated that the current situation demands a fresh mindset where the approach for development should be human-centric. PM Modi further stated that the pandemic is testing the country’s resilience, public health system and economic system, yet… read-more
Tags: PM Narendra Modi, BJP, Covid-19, Indian Economy
Courtesy: United News of India
Indian Economy Slumps by 23% in April-June Quarter of 2021
The Indian economy has contracted by a record 23.9% in April-June quarter of the current fiscal year. This marks the poorest decline of Indian gross domestic products (GDP) in the last 40 year. The figures are attributed to the coronovirus-induced lockdown that had shut businesses and markets since March, crippling the already-slowing economy. Both the manufacturing and service sector have nosedived. However, agriculture was the only sector… read-more
Tags: GDP, Q1, Coronavirus, Lockdown, Bloomberg, Indian Economy
Courtesy: The Financial Express
RBI Governor: Pandemic Led to $6 Trillion Outflow Globally at Zero Interest Rate
On August 21, RBI Governor Shaktikanta Das said that there has been a surplus liquidity globally, which has resulted in the asset prices to increase. Due to which, he believes that a "disconnect" has been caused between the stock market rates and the actual economy. He further stated, the Covid-19 pandemic has resulted in an outflow of $6 trillion from the central banks across the globe to the financial… read-more
Tags: RBI GOVERNOR, RBI, Shaktiman Das, Indian Economy, Global Economy
Courtesy: Republic World