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-
US consumer confidence rises slightly
US consumer confidence rose moderately in January while lingering concerns about the Covid-19 pandemic led to a further deterioration in households’ perceptions of the labor market, raising the risk of a second straight month of job losses. -
'Vaccines will power 5.5% global economic growth'
The spread of Covid-19 vaccines will power a stronger global economic recovery in 2021, the International Monetary Fund (IMF) forecast on Tuesday. After sinking 3.5% in 2020, the worst year since World War II, the global economy will grow 5.5% this year, the 190-country lending organization predicted. -
IMF projects 11.5% growth rate for India in 2021
The International Monetary Fund (IMF) on Tuesday projected an impressive 11.5 per cent growth rate for India in 2021, making the country the only major economy of the world to register a double-digit growth this year amidst the coronavirus pandemic. -
All hands needed on deck to help world recover from pandemic: IMF chief
Speaking at the World Economic Forum#39;s online Davos Agenda Summit, she said the IMF is projecting 5.5 per cent global economic growth for 2021, which is higher than before. -
India only major economy in world to register double-digit growth in 2021
In its latest update, the IMF projected a 11.5 per cent growth rate for India in 2021. This makes India the only major economy of the world to register double-digit growth in 2021, it said. China is next with 8.1 per cent growth in 2021 followed by Spain (5.9 per cent) and France (5.5 per cent). -
Govt to monetise Rs 6k cr GAIL pipelines through InvIT
The oil ministry is eyeing the InvIT (Infrastructure Investment Trust) the route to monetise pipelines worth about Rs 6,000 crore built by India’s largest gas utility GAIL, charting a new course for raising funds for the government as the pandemic spooks big-ticket disinvestments such as of Bharat Petroleum. -
Global economy projected to grow at 5.5% in 2021: IMF
The global economy, ravaged by the Covid-19 pandemic, is projected to grow at 5.5 per cent in 2021 and 4.2 per cent in 2022, the International Monetary Fund (IMF) said on Tuesday, reflecting the expectations of a vaccine-powered strengthening of business activities later in the year and additional policy support in a few large economies. -
IMF projects impressive 11.5% growth rate for India in 2021
The International Monetary Fund (IMF) on Tuesday projected an impressive 11.5 per cent growth rate for India in 2021, making the country the only major economy of the world to register a double-digit growth this year amidst the coronavirus pandemic. -
India#39;s GDP to contract 8% in FY21: FICCI Survey
The annual median growth forecast by the industry body is based on responses from leading economists representing industry, banking and financial services sector. The survey was conducted in January. -
Budget 2021: 'Centre may double health spending'
India is likely to double health spending in the next fiscal year with the aim of raising expenditure in the sector to 4% of gross domestic output in the coming four years, two officials said, as the country looks to fix its health system after the coronavirus pandemic. -
Budget 2021: Govt may hike agri credit target to about Rs 19 lakh crore
The government has been increasing the credit target for the farm sector every year and this time too, the target is likely to be increased to around Rs 19 lakh crore for the 2021-22, sources said. -
Agri financing, warehousing key requirements for Indian agri economy; these two sectors may benefit farmers
Agriculture inarguably is the mainstay of the Indian economy and the role of the agriculture sector in India’s economy cannot be understated. -
Overseas investment by Indian companies dips 42% to $1.45 billion in December: RBI data
In the year-ago period, companies in India had invested USD 2.51 billion in their foreign firms (joint ventures / wholly-owned units). -
New, or old: Which tax regime suits you more?
The Union Budget is around the corner and given the tough year due to the pandemic, a salaried taxpayer’s expectations are high. The year 2020 had posed a lot of challenges such as salary cuts, additional expenses due to remote working, inability to claim certain exemptions like fuel reimbursements, house rent, etc. -
US Prez signs order to tighten Buy American policies
US President Joe Biden has signed an executive order that strengthens the existing Buy American rules by closing loopholes and reducing waivers granted on federal purchases of US-made goods to ensure that American manufacturing is part of the engine of the country's prosperity. -
Budget 2021: 'Centre may double health spending next fiscal year'
India is likely to double health spending in the next fiscal year with the aim of raising expenditure in the sector to 4% of gross domestic output in the coming four years, two officials said, as the country looks to fix its health system after the coronavirus pandemic. -
Budget 2021 | India likely to double health spending next fiscal year: Sources
India will likely raise its health spending to 1.2-1.3 trillion rupees ($16.46-$17.83 billion) in the fiscal year starting April 1, from the current year#39;s projected spending of 626 billion rupees, the officials told Reuters. -
US Prez signs exec order to tighten Buy American policies
US President Joe Biden has signed an executive order that strengthens the existing Buy American rules by closing loopholes and reducing waivers granted on federal purchases of US-made goods to ensure that American manufacturing is part of the engine of the country's prosperity. -
Hero Moto may launch electric car
Hero MotoCorp, the leader in the Indian two-wheeler market, is fuelling up for the next leap in mobility. On the canvas could be connected, autonomous and shared commercial as well as personal platforms and products, which may include an electric car. -
China and India only two to see FDI rise in 2020
India witnessed a 13% rise in foreign direct investment (FDI) to $57 billion in 2020 compared to the previous year. The domestic figure was boosted by investments in the digital economy, while China overtook the US as the largest recipient of FDI globally, according to an UNCTAD report. -
Budget 2021: Life insurers seek separate tax carve-out for products to boost penetration
The industry feels this will allow policyholders to diversify their investments into various life insurance products to meet their financial goals while availing of tax benefits. Currently, life insurance premium is eligible for tax exemption under Section 80C, which has a limit of Rs 1.5 lakh annually, but also clubs other investment options such as PPF, EPF, and NSC, among others. -
Indian economy estimated to contract by 9.6% in 2020, grow at 7.3% in 2021: UN
The World Economic Situation and Prospects 2021, produced by the United Nations Department of Economic and Social Affairs (UN DESA), said the world economy was hit by a once-in-a-century crisis — a Great Disruption unleashed by the COVID-19 pandemic in 2020. -
New, or old: Which tax regime suites you more?
The Union Budget is around the corner and given the tough year due to the pandemic, a salaried taxpayer’s expectations are high. The year 2020 had posed a lot of challenges such as salary cuts, additional expenses due to remote working, inability to claim certain exemptions like fuel reimbursements, house rent, etc. -
FDI inflows into India jump by 13% to $57 billion in 2020: UN
India witnessed a 13% rise in foreign direct investment (FDI) to $57 billion in 2020 compared to the previous year. The domestic figure was boosted by investments in the digital economy, while China overtook the US as the largest recipient of FDI globally, according to an UNCTAD report. -
Petrol, Diesel prices at record high, increase by 35 paise per litre
With increase in 35 paise, the cost of petrol and diesel is at Rs 92.62 per litre inMumbai. Diesel price now cost Rs 76.23 per litre in Delhi and In Mumbai, the diesel prices cost is Rs 83.03 per litre. -
Food department secretary visits IGMRI
The secretary advised IGMRI officials to upgrade testing centre in respect of bio-fertilised seeds. -
8 CAs arrested so far in drive against GST fake invoice: Sources
Among those arrested, at least two persons have been booked under COFEPOSA(Conservation of Foreign Exchange and Prevention of Smuggling Activities Act) also. -
Eye on FY22: Tax revenue to witness big jump; GDP recovery, fuel taxes, anti-evasion steps to bolster receipts
Most analysts expect the nominal GDP to grow at 15% or thereabouts in FY22; going by historical pattern, it is possible that the tax revenue will grow at the same rate (buoyancy 1) or even up to five percentage points higher.
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