• 9776 stories GDP

1 day ago
'Premature GST hurting small businesses, causing revenue shortfall'

New Delhi, Dec 14 (IANS) West Bengal Finance Minister Amit Mitra on Thursday attacked the Central government on what he called premature GST launch and said it had led to revenue shortfall of Rs 39,111 crore to states in just four months. He said the plummeting GST collections by Rs 12,000 crore in one month was a serious cause of concern even as the premature implementation had led to s...

1 day ago
Honeywell Tech Solutions to develop more products for India

Hyderabad, Dec 14 (IANS) Honeywell Technology Solutions' focus will be on India for India portfolio to develop more products for the domestic market, a senior company official said on Thursday. We are developing products that are smarter and connected and this gives us a huge opportunity. We are in leading position to be really a big player, said Honeywell Technology Solutions, India, Vi...

1 day ago
US Fed raises interest rate amid strong job market

Washington, Dec 14 (IANS) US Federal Reserve has raised the benchmark interest rates for the third time this year and maintained the forecast of three more rate hikes in 2018, as the economy and job market continued solid growth. In view of realized and expected labor market conditions and inflation, the (Federal Open Market) Committee decided to raise the target range for the federal fu...

1 day ago
US stocks end mixed after Fed rate hike decision

New York, Dec 14 (IANS) US stocks closed mixed, with the Dow closing at a record high, as the Federal Reserve raised the benchmark interest rate by 25 basis points, the third such increase in 2017. The Dow Jones Industrial Average on Wednesday gained 80.63 points, or 0.33 per cent, to 24,585.43. The S&P 500 fell 1.26 points, or 0.05 per cent, to 2,662.85, Xinhua news agency reported....

1 day ago
Rise in imports widens India's Q2 CAD to $7.2 bn

Mumbai, Dec 13 (IANS) An exponential rise in merchandise imports widened India's current account deficit (CAD) to $7.2 billion or 1.2 per cent of the GDP in the second quarter of 2017-18, from $3.4 billion reported in the corresponding period in 2016-17. However, on a sequential basis, the Q2 CAD narrowed down sharply from $15 billion reported for the preceding quarter, the Reserve Bank ...

2 days ago
Pakistan to reveal CPEC plan on December 18

Islamabad, Dec 13 (IANS) The long-term plan for the China-Pakistan Econo­mic Corridor (CPEC) will be made public on December 18, Pakistan's Minister for Planning and Development Ahsan Iqbal has said. Addressing a CPEC Business Opportunities Conference here on Tuesday, Iqbal said the CPEC is a game-changer for Pakistan, pointing out that the pace of its implementation is accelerating and...

2 days ago
Developing nations in Asia to grow at 6% in 2017: ADB

Manila, Dec 13 (IANS) The economies of developing countries of Asia are expected to record a six per cent growth in 2017, a decimal higher than the September-forecast, the Asian Development Bank said on Wednesday. The bank, headquartered here in the Philippines, kept the 2018 GDP growth forecast at 5.8 per cent and attributed the elevated forecast for 2017 to stronger exports and domesti...

2 days ago
ADB lowers India's GDP forecast to 6.7%

New Delhi, Dec 13 (IANS) The Asian Development Bank (ADB) on Wednesday lowered its Indian GDP forecast for the current financial year to 6.7 per cent citing tepid growth in the first half, demonetisation and transitory challenges posed by implementation of GST. The multilateral lender also revised its Indian Gross Domestic Product outlook for the 2018-19 fiscal down to 7.3 per cent, from...

3 days ago
Higher fiscal deficit due to Budget being advanced, was expected: Chief Statistician

New Delhi, Dec 12 (IANS) Government's Chief Statistician T.C.A. Anant has no worries that the government may breach the fiscal deficit target of 3.2 per cent of the GDP for the current fiscal. In fact, he feels revenue would be buoyant by year-end and that the targeted deficit would be bridged. It's bad accounting to compare the fiscal deficit reaching 96 per cent of the target in Octobe...

3 days ago
India's growth rate to accelerate to 7.2% in 2018, 7.4% in 2019: UN

United Nations, Dec 11 (IANS) Overcoming the slowdown from demonetisation, the growth rate of India's economy is projected to accelerate from this year's 6.7 percent to 7.2 per cent next year and 7.4 percent in 2019 making it again the world's fastest growing major economy, the UN said on Monday. Despite the slowdown observed in early 2017 and the lingering effects from the demonetizatio...

3 days ago
Government realised fiscal deficit targets: Jaitley

New Delhi, Dec 11 (IANS) The government has realised its fiscal deficit targets and is on course to achieve it for the current year, Finance Minister Arun Jaitley said at a pre-budget consultation meet here on Monday, even as economists present at the meeting suggested lowering of the country's corporate tax rates. Jaitley said the government had met its fiscal targets by rationalising ...

4 days ago
Financial stability, inclusion go together: Ex-RBI chief

New Delhi, Dec 11 (IANS) Programmes of financial inclusion are part of the larger financial system, the stability of which is essential to the success of the inclusive initiatives, a former Reserve Bank of India (RBI) Governor said on Monday. Noting that financial inclusion has to go hand in hand with financial stability, Bimal Jalan emphasised the importance of the latter from the time ...

5 days ago
Adverse factors have played out, economy back on rails: Chief Statistician T.C.A. Anant

New Delhi, Dec 10 (IANS) The factors responsible for a five-quarter slump in the growth rate, including the adverse effects of demonetisation and GST implementation, have played out and the Indian economy is now poised to take an upward trajectory in the coming quarters, says the government's Chief Statistician. He also feels that concerns over slow agricultural growth and inflation were...

6 days ago
Venkaiah Naidu lauds PSEs for contribution to economic growth

Hyderabad, Dec 8 (IANS) Vice President M. Venkaiah Naidu on Friday said that the Public Sector Enterprises (PSEs) have contributed immensely to the country's economic growth. Inaugurating the Diamond Jubilee celebrations of the National Mineral Development Corporation (NMDC) here, he said PSEs helped the country in building a sustained industrial base and technological competencies in a ...

6 days ago
Road laying to be fast-tracked: Gadkari

Lucknow, Dec 8 (IANS) Union Road Transport and Highways Minister Nitin Gadkari on Friday made a strong pitch for fast-paced laying of roads, saying that if the six lakh villages in the country are linked with strong and robust roads, the GDP will grow by Rs 1.10 lakh crore. Road construction creates jobs, fast tracks the economy and can be a great vehicle in ending the scourge of poverty...

7 days ago
Congress promises constitutionally impossible, financially improbable: Jaitley

Ahmedabad, Dec 8 (IANS) The BJP on Friday said the Congress poll manifesto in Gujarat promising quota for Patidars and farm debt waiver was constitutionally impossible and financially improbable and that the party's policy of social polarisation would harm the state. Releasing the BJP's poll agenda a day before the state votes in the first of the two-phase election on Saturday, Union Fin...

7 days ago
India losing comparative advantage in leading export sectors

In a massive relief to Indian exporters, the government announced liberal incentives of Rs 8,450 crore ($1.3 billion) in its mid-term review of the five-year foreign trade policy (FTP) that was rolled out in 2015 and aimed at increasing the export of goods and services to $900 billion by 2020. Exports, meanwhile, declined from $468 billion to $437 billion between 2014-15 and 2016-17. In ...

8 days ago
Security spending to hit $96 bn globally in 2018: Gartner

New Delhi, Dec 7 (IANS) Slowly becoming aware of emerging cyber threats, organisations worldwide will spend $96.3 billion on security in 2018 -- an increase of 8 per cent from 2017, Gartner forecast on Thursday. More than 60 per cent of organisations globally will invest in multiple data security tools by 2020 -- up from 35 per cent today -- it added. Overall, a large portion of...

8 days ago
RBI maintains key rates, GVA projection, concerned over inflation

Mumbai, Dec 6 (IANS) In its penultimate monetary policy review of the fiscal, the RBI on Wednesday maintained status quo on key lending rates while citing concerns over rising inflation. It also retained economic growth projection for the 2017-18 fiscal. The Reserve Bank of India (RBI) move came even as Indian industry expressed disappointment while the government said a neutral policy ...

9 days ago
India Inc, investors disappointed with RBI's status quo on lending rates

New Delhi/Mumbai, Dec 6 (IANS) India Inc and investors on Wednesday expressed their disappointment over the Reserve Bank of India's (RBI) decision to maintain the status quo on key lending rates during its fifth monetary policy review of 2017-18. Ficci is disappointed with the RBI's decision to hold on to the policy rate at the current level. A downward revision would have boosted sentim...

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