Economy and Finance

News and views related to the Indian Economy and Financial sector

Budget 2019: Government to identify nomadic and semi-nomadic tribes to include them in social welfare schemes

Union Minister Piyush Goyal declared that the government will identify and locate the nomadic groups to extend the benefits enjoyed by other Indians.
Mumbai's famous Elephanta island finally gets electricity 70 years after Independence

Insolvency and Bankruptcy Code has helped recover Rs 3 lakh crores so far for banks and creditors: Piyush Goyal

Piyush Goyal lauds the Modi government's efforts towards the banking sector.

Leaked NSSO report on unemployment not finalised and verified, not correct to use it as final: NITI Aayog

The NITI Ayog said that the report is a draft report and the data is still being processed. The final report will be published after the data is finalised.

SBI data breach: Bank forgets to password secure its server, ends up compromising customer details

State Bank of India (SBI) forgot to secure its server hosting sensitive information which resulted in a severe data breach

Interim Budget vs Full Budget: All you need to know

An interim budget in all practical sense is a full budget but made by the government during the last year of its term i.e. just before an election. 

MUDRA Yojana: The elixir for the MSME sector which is fuelling job growth

For every loan disbursed under MUDRA about 1.3 jobs have been generated

Leading job website, ‘Naukri’, releases survey of recruiters, predicts 20% increase in hiring between January and June 2019

Naukri.com, one of India's premier job portals, has published the findings of its Hiring Outlook survey which depict a very bright scenario for employment opportunities in the country between January to June 2019.
Owners of CMIE and their proximity to Congress leader P Chidambaram raises questions on their survey credibility

Ownership of CMIE and their alleged proximity to P Chidambaram raises questions on the credibility of its Job Survey

The scam by CMIE owner is being investigated by SEBI, CBI as well as by Income Tax authorities

India surges ahead, likely to overtake UK in largest economy rankings in 2019: PwC report

"India and France are likely to surpass the UK in the world's largest economy rankings in 2019, knocking it from fifth to seventh place in the global table," PwC's Global Economy Watch report said.

Vibrant Gujarat Summit: Investments worth lakhs of crores announced by Indian and foreign companies

Investors announced investments worth more than Rs 4 lakh crore for the state.

Middle class with Modi: Video shared on Modi govt’s policies gets overwhelming response on Twitter

Many people trended the hashtag and counted the personal experience of benefits in the 4.5 years of the Modi government.
Inflation chart

Rate of WPI inflation falls to eight-month low of 3.8% in the month of December

The food inflation in December was almost nil at 0.07%, down from 3.31% in November.

S Gurumurthy sends legal notice to The Economist for defamatory article that called him a ‘fixer’ who ‘gets things done in Delhi’

The concerned article was published in the print issue of The Economist on 24 November.
The economics of Targeted Basic Income for India

The way forward for India: Targeted Basic Income

The choice of this new policy instrument is very clear, it should come under the Direct Benefit Transfer framework in the form of a Targeted Basic Income.

World Bank says India to retain status as fastest growing economy, 7.5% growth predicted for 2019

India's GDP is expected to grow at a rate of 7.5% in the 2019-20 financial year.

Agriculture, Manufacturing and Industry to push GDP growth to 7.2% in 2018-19 as against 6.7% last year

The numbers suggest growth in agriculture, manufacturing and construction sector contributing massively to the GDP

Vijay Mallya declared fugitive economic offender, properties can now be confiscated

A special PMLA court today declared Vijay Mallya a fugitive economic offender under the FEO Act,2018.
Reserve Bank of India

Decline in gross NPA ratio of commercial banks, may decline further, says RBI in Financial Stability Report

RBI governor Shaktikanta Das has added that stress test results further indicate an improvement in NPA ratio but its current level remains still high for comfort.

59-minute loan approval scheme has approved loans of 1.12 lakh MSME applicants in less than 2 months

Bank of Baroda and Union Bank of India are leading among the banks with loans sanctioned by them amounting to 43% of the total amount sanctioned.
Ministry of corporate affairs

More than 1 lakh companies removed from the Registrar of Companies for not doing any business for two years

Companies without any business for two years are deleted from the register of companies

A comprehensive farm relief plan by the centre likely soon: Reports

PM Modi, Amit Shah, Arun Jaitley and Agriculture Minister Radha Mohan Singh met to outline a broad plan to tackle the growing agrarian distress.

Measures adopted by the Modi government paying off, the recovery against NPAs has doubled for public sector banks

As revealed under the Asset Quality Review (AQR), the NPAs have been piling up since 2008, during the tenure of the UPA government.

We only outrage, we never celebrate

Positivity has no place in public discourse in today's India
Modi addressed a rally in Jalpaiguri, WB

In a year when markets have sunk across the world, Modi’s India shines, tops China in corporate deals

This is the story that they will not tell you. In a year when markets have sunk across the world, India, under Prime Minister Modi, shines

The impact on India’s economy of demonetised currency returning to banks

After demonetisation, when most demonetised currency returned to the bank, questions were raised on the success of demonetisation itself

Who served the Middle class: In a match between BJP and Congress, BJP wins the set 30-0

We have designed a methodology in which we will consider 30 different categories divided into 11 different parameters to compare what both Governments, Congress and BJP, have done for the middle class
Modi government delivers, Congress opposes GST rate cut for middle class

Here are the specific items that Congress opposed GST tax-cut on most vehemently

Congress opposing GST rate cut on items that can benefit the middle class is a classic case of Congress trying to stymie benefit to the people of the country for petty political gains.

Modi delivers: Only 28 luxury items remain in 28% GST slabs, rates slashed for several goods

Vegetables (cooked or uncooked), and frozen vegetables have been shifted to zero percent slab from previous 5%.

Facts, No Fiction: Recent farm loan waiver prove that Congress hasn’t learnt from its past mistakes that drove fiscal deficit up

Populist policies like farm loan waiver of the Congress indicate two things; unwillingness to learn from past economic mistakes and the lack of a sound policy agenda to resolve some of the long-standing issues of Indian farmers.

Much ado about nothing: Demystifying the needless hue and cry over the RBI

Nothing justifies this misinformation campaign attempt at political point scoring even though there is no credible point which Congress can harp on to while making those claims.

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