Category: Economy News
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India’s economy is slowly recovering
(Riya Singh, Intern Journalist): The pace of economic recovery improved during the previous week on account of divergent trends in indicators like mobility and employment, according to a Nomura note on Monday. The Nomura India Business Resumption Index (NIBRI) increased to 71.8 in the week ending August 9, after being stuck around the 70 marks…
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Manmohan Singh offers three remedies to help the crumbling economy
Raaisha Upadhyay (Intern Journalist)Former Prime Minister Manmohan Singh has proffered three steps to restore the country’s financial health.India’s economic reforms program suggested direct cash assistance to protect livelihoods and retain spending power, government-backed credit guarantee schemes to make capital available for businesses, and institutional autonomy to fix the financial sector.He explained “This economic slowdown is caused…
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Big relief on loan installment
(Deepshikha Gautam, Intern Journalist) New Delhi: The Reserve Bank of India has allowed banks to restructure debt. That is, you can reduce the loan installment by increasing your loan term. However, the benefit of this facility will be available to the regular loan repayers till 31 march 2020. RBI Governor Shaktikant Das announced this on…
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RBI repo rate stable, no relief on EMI
(Anjali Shreya, Intern Journalist): The results of the Reserve Bank’s monetary policy review meeting have been reached. In this meeting that lasted for three days, no decision has been taken regarding the repo rate. The change in repo rate means that you will not get new relief on EMI or loan interest rates. Giving the…
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Agriculture sector will help in reviving the economy
(Riya Singh, Intern Journalist): The bad phase for the Indian economy has now passed. This has been concluded in a report released on Tuesday by the Finance Ministry. The report said that keeping in view of better monsoon, the agriculture sector could play an important role in reviving the economy affected by Covid-19. The July…
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Rupee settles 3 paise down at 75.04 against US dollar
(Riya Singh, Intern Journalist): The rupee pared some of its initial losses and settled 3 paise down at 75.04 (provisional) against the US dollar on Tuesday, even as the domestic equity market was trading with significant gains. The rupee opened weak at 75.13 at the interbank forex market, then pared some of its early losses…
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The next 6 months will decide the future of the real estate sector
(Pooja Dubey, Intern Journalist) The coronavirus epidemic has had a bad effect on the real estate sector. However, it is now expected to improve. The current sentiments of real estate stakeholders in the country are at 22 in the second quarter (April-June) of the year 2020. Which stood at 31 in its first quarter. The ‘Future Sentiment Score’…
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RBI can cut rates by 25 bps this time
(Pooja Dubey, Intern Journalist) The Reserve Bank of India may once again cut the repo rate by 25bps or a quarter. The repo rate may fall to a record low of 3.75 percent. The meeting of RBI’s Monetary Policy Committee will begin on Tuesday. It will be at the lowest level since 1979. In a poll, nearly two-thirds…
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The effect of the lockdown imposed in the country
(Pooja Dubey, Intern Journalist) In view of the increasing cases of the corona, the effect of the lockdown imposed in different parts of the country has also shown on the economic front. The Finance Ministry said that “The gross goods and services tax (GST) collection in July 2020 stood at Rs 87,422 crore.” There has…
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Impact of corona virus epidemic
(Pooja Dubey, Intern Journalist) Private equity (PE) investment in industrial and storage site projects fell 92 percent to $ 102 million, or about Rs 750 crore, in the first six months of this year. The reason for this is that investors are being cautious due to the coronavirus epidemic. The investment and lease market in these…