This comes after the slowdown in market hitting Medium & Heavy Commercial Vehicle (M&HCV) sales by 70 per cent in August 2019. The Chennai-headquartered automaker has seen almost 10 days of no-production during last month.
Minutes after Chidambaram stepped out of a courtroom in Delhi on September 3, when journalists asked him what he had to say about his CBI custody, the former finance minister said, "Five per cent. Do you know what is five per cent?" Unfazed by the criticism by the opposition leaders, Thakur said India would become a USD 5 trillion economy well before 2024-25, a target set by Prime Minister Narendra Modi.
Gross revenue collections from the Goods and Services Tax (GST) in July stood at Rs 1.02 lakh crore.
The Pakistan government has launched its own mineral water brand to cut costs as part of its austerity drive to solve the cash-strapped nation's financial woes, according to a media report.
Former Prime Minister Manmohan Singh on Sunday expressed concern over the state of the economy in the country. He urged the government to steer out economy of the "man-made crisis."
The government on Thursday gave a one-year extension to CBDT Chairman P C Mody, who was set to retire on August 31. Ranjan, Member Legislation in the CBDT, was next in the succession line for the CBDT chief and is stipulated to retire in April next year.
"As a result, we expect India to overtake China as the largest importer of global coking coal by 2025, despite the country only importing half as much as China in 2017," it added.
Sitharaman hit out at the Congress for indulging in "huge corruption and scandals" to run the economy and said its tenure saw inflation touching double digits with skyrocketing prices.
In FY19, banking sector reported 6,801 frauds involving Rs 71,542.93 crore as against 5,916 cases involving Rs 41,167.04 crore reported in 2017-18.
"Modiji wants to make India a $5-trillion economy, and put it among the world's top three. But economic progress is not possible without securing the country. There is need to maintain external security and law and order in the states," Shah said during the 49th Foundation Day celebrations of the Bureau of Police Research and Development (BPR&D).
Pakistan has suffered yet another setback with its economy plunging into a deep crisis. Pakistan's frightening situation can be clearly seen as it saw record high fiscal deficit but the country's Prime Minister and the entire leadership is busy issuing threats of war and jihad against India after the abrogation of Article 370 in Jammu and Kashmir.
Following are the top business stories of Friday, August 23. Nirmala Sitharaman's much-awaited announcement on FPI surcharge is finally here along with some good news for Auto sector that was witnessing its worst crisis in decades. IndiaTvNews.com brings to you the business news round-up of the day.
"Now, accept our solution and remonetise the economy, by putting money back in the hands of the needy and not the greedy," Gandhi wrote on Twitter.
The country's economy is showing signs of a slowdown, with hi-frequency indicators like industrial output posting subdued growth and automobile sales touching historical lows.
Describing the fundamentals of the Indian economy as strong, Reliance Industries Ltd (RIL) Chairman Mukesh Ambani on Monday said that the ongoing slowdown in some sectors of the economy is temporary.
Minister of Railways and Commerce & Industry Minister Piyush Goyal said that the ministry is working on making India's export products competitive and simplifying rules and regulations for easy availability of export credit.
The country logged a growth of 6.2 per cent amid the trade tensions with the United States. The damaging trade with the US is seen as one of the reasons for the slump in the world's second-largest economy.
The key changes in Budget's taxation-related measures affecting the deal market include the extension of buy-back tax-related provision to listed entities.
India and Russia are working together to take their relationship to a higher level and there is scope for cooperation in agriculture and agro-processing sector, Niti Aayog Vice-Chairman Rajiv Kumar said on Wednesday.
Capital markets provide financial resources for the long-term sustainable development of the economy, therefore it is considered an important element in the macro-financial policy toolkit
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