Economy and Finance

News and views related to the Indian Economy and Financial sector

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.

Farmer loan waivers tell us why Congress has no agenda

Congress had announced a similar farmer loan waiver in 2008 which led it to a victory in the 2009 elections

PM Modi makes a big announcement: 99% items to soon fall under 18% GST slab or lower

"Today, GST system has been established to a large extent and we are working towards a position 99% things would attract the sub- 18% slab", said Prime Minister Narendra Modi

Facts, No Fiction: There’s a new sheriff in RBI

The man who steered the economy through Demonetization, Shaktikanta Das, has been put in charge of the RBI by the Modi government

Amidst speculations over Govt-RBI stand off, Jaitley asks how a mere discussion be considered ‘destruction’ of an institution

Urjit Patel had resigned earlier this week as RBI governor citing personal reasons.
Image Source: Zee News

Industrial production growth at a 11 month high of 8.1% in October, while retail inflation dips to 17 month low

The retail inflation has hit a 17-month low of 2.33% in November as against 3.31 per cent in October as the prices of food items, including vegetables have come down.
Vijay Mallya to be extradited

UK Home Office acknowledges receipt of extradition order against Vijay Mallya

British-Pakistani Home Secretary Sajid Javid will now contemplate on the order of the court and then decide whether further action on extradition should be taken or not.
The Congress ecosystem is sharpening their knives against PM Modi

Has PM Modi sounded the start of slog overs with the new RBI Governor’s appointment?

Shaktikanta Das, who is currently a member of The Finance Commission and Former Finance Secretary (the one who presided over Demonetisation), has been appointed as the new RBI Governor by the Modi government

Modi Sarkar’s performance since 2014: An overview

PM Modi was largely elected on the plank of development and his record speaks for itself.

GST resulted in 5 times increased lending to small businesses- SBI report

The SBI report dismissed the concerns over credit supply to MSMEs as "myth", said that the sector witnessed stupendous loan growth post GST.
The Wire lies yet again on the shortage of life saving drugs in Kashmir, District Magistrate Srinagar demolishes them in one single tweet

The Wire comes up with flawed logic to rubbish new methodology which slashed growth rates of Congress regime

The reasons given by the article by The Wire more amusing as it clearly showed their lack of understanding of data, statistic and above all, of economics.

SC grants clearance for RCom’s spectrum sale to Jio, Rcom to furnish Rs 1400 crore corporate guarantee

Once the corporate guarantee is furnished by RCom, the government is bound to give its NOC for the spectrum sale within a week

Facts, No Fiction: What the rupee does (not) tell us

Rupee does not signal the health of the Indian Economy, however, it is an important indicator as far as the external sector is concerned.

Rupee rises 21 paise against US Dollar, touching a three-month high

The Rupee rose by 21 paise to 69.64 against the US Dollar.

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