The Bank of England has maintained its interest rate at 5%, contrasting with the US Federal Reserve’s rate cut to 4.8%. Inflation concerns in the UK, particularly in the services sector, have driven this cautious approach.
ITR reforms news: Taxation of the digital economy, ensuring developing countries get their fair share of taxes and global coordination for taxation of cryptocurrencies would be one of the priority areas as India is all set to host the leaders of G-20 countries next year.
India fiscal growth: Sitharaman said there are risks on the external front and this is not the right time to throw caution to the wind, and also assured exporters of all the necessary support from the government as they face the headwinds.
In April, the World Bank had trimmed the forecast from 8.7 per cent to 8 per cent and now it is projected at 7.5 per cent. The GDP growth compares to an 8.7 per cent expansion in the previous 2021-22 fiscal.
The career bureaucrat-turned-central banker also welcomed the govt's approach to the pandemic-triggered crisis as a prudent and calibrated one.
While acknowledging that present situation has become far more difficult than it was in past due to rising coronavirus infections, Kumar remained hopeful that India's economy will grow 11 per cent in current fiscal ending March 31, 2022.
The Reserve Bank has lowered the retail inflation projection for the current quarter of this fiscal at 5.2 per cent, saying it has returned within the "tolerance band".
India's coal import saw a drop of 18.6 per cent to 116.81 million tonnes (MT) during April-October this fiscal as against the same period a year ago.
India is very likely to come out with another round of fiscal stimulus package, worth about 1 per cent of GDP in the coming months, Fitch Ratings said on Monday.
Former finance secretary Subhash Chandra Garg on Tuesday said the Indian economy will shrink by 10 per cent or Rs 20 lakh crore in the ongoing fiscal, the first contraction in over 40 years, due to a "faulty" COVID lockdown.
Increased demand for retail loans, strong growth in lending by private banks and pick-up in economic activity are likely to improve credit growth to 8-9 per cent in the next financial year, says a report.
Fitch Solutions on Monday said it expects the country's residential and non-residential buildings sector to expand by 6.6 per cent.
The company, which has around 860 sales outlets spread across the country, has already added up around 100 outlets in the current financial year till now
The Indian economy is expected to start its recovery from later part of this fiscal thanks to the initiatives taken by the Reserve Bank for policy rate transmission and steps by the government to boost growth, says a report.
"India's growth forecast for fiscal year 2019 (FY20) is lowered to 6.5 per cent after growth slowed markedly to 5 per cent in the first quarter, April–June," said the Asian Development Outlook (ADO) 2019 Update.
The member unions of Amul plan to enhance the milk processing capacity from the current level of 350 lakh litre per day to 380-400 lakh litre per day in the next two years.
Adhering to the fiscal consolidation roadmap, Finance Minister Arun Jaitley today said the government will target to bring down the fiscal deficit to 3.2 per cent of the GDP in the fiscal 2017-18.
Mumbai: India's current account deficit (CAD) narrowed sharply to USD 0.3 billion (Rs 20 lakh crores), or 0.1 per cent of GDP, in the fourth quarter of 2015-16 from USD 7.1 billion, or 1.3 per
New Delhi: The Indian economy expanded by 7.6 per cent in 2015-16 to log the fastest growth among larger countries, while also outpacing China, official data showed today. This was also the fastest growth for
Washington: The International Monetary Fund (IMF) on Tuesday trimmed its growth forecast by projecting India to grow at 7.3 per cent for the current fiscal, lower than the government's estimate of 7.6 per cent growth
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