Economy news

• Pace of economic recovery will depend on the degree of vaccine rollout: BofA Securities

  13-01-2021 21:15 via financialexpress.com
  
  The pace of economic recovery and strength of the recovery will depend on the degree of the Covid-19 vaccine rollout. The brokerage stated that if the vaccine is rolled out in the second half of CY21, the GDP for FY22 will grow at 6%.
  
  Read more

• Sensex falls 167 points to close at 49,625; Nifty ends below 14,600

  21-01-2021 12:04 via timesofindia.indiatimes.com
  
  Equity indices plunged from record highs on Thursday with the benchmark BSE sensex ending lower amid profit booking by investors.The 30-share BSE sensex breached the 50,000-mark for first time ever in morning deals but gave up gains in late deals to finish 167 points or 0.34 per cent lower at 49,625.
  
  Read more

• NBFCs seek continued liquidity support in upcoming Budget

  21-01-2021 11:36 via zeenews.india.com
  
  To mitigate the impact of COVID-19 on NBFC sector, the government and Reserve Bank of India (RBI) have announced various schemes such as the Partial Credit Guarantee Scheme (PCGS), Targeted Long-Term Repo Operations (TLTRO) and Special Liquidity Scheme (SLS). In its pre-budget memorandum submitted to Finance Minister Nirmala Sitharaman last month, Finance Industry Development Council (FIDC) said bank funding of small and medium NBFCs has been a challenge due to various reasons, especially during
  
  Read more

• Explained in 12 charts: How sensex breached 50k-mark

  21-01-2021 11:29 via timesofindia.indiatimes.com
  
  The benchmark BSE Sensex achieved a remarkable milestone on Thursday by breaching the 50,000-mark for the first time ever. The Covid-19 pandemic dragged the Sensex to record low in late March. However, it staged a recovery from the lows. Both the BSE and NSE indices finally wrapped up 2020 on a bullish note, with the Sensex gaining nearly 16 per cent.
  
  Read more

• Advertisement

• Budget 2021: Income or no income, you are bound to pay THIS tax to government; Know how and why

  21-01-2021 10:46 via zeenews.india.com
  
  Several initiatives have been taken by the CBDT for bringing in efficiency and transparency in the functioning of the IT Department which includes bringing more transparency in official communication through the newly introduced Document Identification Number (DIN) wherein every communication of the Department would carry a computer generated unique document identification number.  IT Department has moved forward with prefilling of income tax returns to make compliance more convenient for i
  
  Read more

• Vaccination drive going well; world surprised at Indian economy#39;s V-shaped recovery: Amit Shah

  21-01-2021 10:01 via moneycontrol.com
  
  Shah, one of the senior most members of the cabinet,also said the COVID-19 vaccination drive is progressing welland once everyone is vaccinated, #39;#39;we will attain victory overthe pandemic#39;#39;.
  
  Read more

• India within striking distance of attaining positive growth: RBI

  21-01-2021 09:49 via moneycontrol.com
  
  The Indian government launched the world#39;s biggest vaccination drive on January 16 to protect people from COVID-19.
  
  Read more

• Delhi government gives Rs 10,000 as COVID-19 relief to construction workers

  21-01-2021 09:21 via moneycontrol.com
  
  The Delhi government said that construction workers belong to the “poorest of poor section of society and were one of the hardest hit during the pandemic,� adding that the relief aid is “much-needed support during these difficult times.�
  
  Read more

• Advertisement

• BMW 3 Series Gran Limousine launched in India: Price, specs and everything you need to know

  21-01-2021 08:11 via zeenews.india.com
  
  The new BMW 3 Series Gran Limousine is available in four metallic paintworks – Mineral White, Melbourne Red, Carbon Black and Cashmere Silver. The choice of upholstery combinations includes Leather Vernasca Cognac | Black and Oyster | Black. The new BMW 3 Series Gran Limousine is available in two attractive design schemes – Luxury Line and the exclusive M Sport ‘First Edition’ which is limited to launch phase only.
  
  Read more

• Wall St ends at record high as Biden takes office

  21-01-2021 07:33 via timesofindia.indiatimes.com
  
  Wall Street greeted new US President Joe Biden by climbing even higher on Wednesday, closing at records amid promises of big economic stimulus and relief that the inauguration was uneventful.
  
  Read more

• Joe Biden's swearing in cheers Dalal Street; Sensex breaches 50,000-mark

  21-01-2021 07:09 via zeenews.india.com
  
  At 11.16 am, the BSE Sensex was trading 343.60 points or 0.69 percent higher at 50,135.72. Similarly, the NSE Nifty jumped 96.90 points or 0.66 percent to 14,741.60. Major gainers in the Sensex pack were Bajaj Finserve, Bajaj Finance, Bajaj Auto, Axis Bank, RIL, HUL, ICICI Bank, Asian Paint, Indusind bank, M&M, Ultrachem, and Titan, rising upto 3.26 percent. On the other hand, major losers were HDFC Bank, TCS, Tech Mahindra, HDFC, ONGC, SBI, Sun Pharma and Powergrid, falling upto 1.32 percen
  
  Read more

• Unilever vows living wage for all in value chain

  21-01-2021 07:00 via timesofindia.indiatimes.com
  
  Global consumer products giant Unilever has committed to ensure that everyone who directly provides goods and services to the company earns at least a living wage or income by 2030.
  
  Read more

• Sensex breaches 50,000-mark for first time, Nifty touches record high on positive global cues

  21-01-2021 06:48 via timesofindia.indiatimes.com
  
  Sensex breaches 50,000-mark for first time, Nifty touches record high on positive global cues
  
  Read more

• Sensex hits 50k-mark for first time: Top reasons

  21-01-2021 06:40 via timesofindia.indiatimes.com
  
  Equity indices scaled fresh record peaks on Thursday with the benchmark BSE sensex breaching the psychological 50,000-mark for the first time ever. The 30-share BSE index surged over 300 points to hit an all-time high of 50,127 in early trade; while the broader NSE Nifty moved nearly 100 points higher to 14,738.
  
  Read more

• Jack Ma's video chat prompts a $58 billion sigh of relief

  21-01-2021 06:40 via timesofindia.indiatimes.com
  
  Jack Ma appeared for less than a minute and said nothing about the Chinese government clampdown that had left his business empire in crisis. But for investors who’d been waiting months to catch a glimpse of Ma, the entrepreneur’s participation in a live-streamed video conference on Wednesday was enough to trigger a $58 billion sigh of relief.
  
  Read more

• What's in this Indian Thaali? Eat to win a Royal Enfield worth Rs 1.65 lakh

  21-01-2021 06:37 via zeenews.india.com
  
  The 'Bullet Thali', offered by 'Hotel Shivraj' is offering a brand new Royal Enfield bullet bike if you are able to finish it. The mammoth thali consists of over 12 dishes. It has something for everyone –fish, prawn, mutton and chicken. All you need to do is finish the humongous thaali in under 60 minutes. Hotel Shivraj is located in Vadgaon Maval, Old Mumbai-Pune Highway, and has been frequently in news for its interesting platter competitions.
  
  Read more

• Sensex breaches 50,000-mark for first time ever: Here's looking at 10 greatest milestones since 1979

  21-01-2021 05:48 via zeenews.india.com
  
  In the previous session, the Sensex had advanced by 393.83 or 0.80 per cent to close at its fresh record of 49,792.12, and the Nifty had jumped 123.55 points or 0.85 per cent to settle at a lifetime high of 14,644.70. Foreign portfolio investors (FPIs) were net buyers in the capital market as they purchased shares worth Rs 2,289.05 crore on Wednesday, as per exchange data.
  
  Read more

• Budget 2021 | Govt unlikely to change income tax slabs: Report

  21-01-2021 05:29 via moneycontrol.com
  
  Union Finance Minister Nirmala Sitharaman will present the Budget on February 1, 2021.
  
  Read more

• Fuel prices unchanged for 2nd day after hitting new record high: Check fuel prices in metro cities on January 21, 2021

  21-01-2021 05:25 via zeenews.india.com
  
  On January 19, Petrol prices were increased by 25 paise to Rs 85.20 litre from Rs 84.95 per litre while diesel prices too were hiked by 25 paise to Rs 75.38 from Rs 75.13 per litre , as per data available in Indian Oil Corporation. In Mumbai, diesel prices were hiked to Rs 91.80 per litre, thus witnessing new record high. Here is looking at the price difference of diesel and petrol in four metro cities on January 20, 2021.
  
  Read more

• Sensex hits 50,000-mark for first time ever: Top reasons behind the surge

  21-01-2021 05:09 via timesofindia.indiatimes.com
  
  Equity indices scaled fresh record peaks on Thursday with the benchmark BSE sensex breaching the psychological 50,000-mark for the first time ever. The 30-share BSE index surged over 300 points to hit an all-time high of 50,126 in early trade; while the broader NSE Nifty moved nearly 100 points to 14,731.
  
  Read more

• Sensex creates history, crosses 50,000-mark; Nifty tops 14,700

  21-01-2021 05:09 via zeenews.india.com
  
  Asian stocks rose to new record highs on Thursday. MSCI`s broadest index of Asia-Pacific shares outside Japan touched record highs and was last up 0.85%. Chinese blue-chips added 1.2%, Australian shares climbed 0.69% and Hong Kong`s Hang Seng breached the 30,000 level, rising 0.31%. Japan`s Nikkei was up 0.72%, less than 1% off three-decade highs reached last week. The rises in Asia followed fresh record highs on Wall Street overnight. 
  
  Read more

• Cos tap management gurus to tackle ‘unknowns’

  21-01-2021 05:00 via timesofindia.indiatimes.com
  
  In a world where predicting even the short-term future is becoming difficult, organisations are rushing to management thinkers to understand how best they can cope with unforeseeable conditions— ‘the unknown unknowns’.
  
  Read more

• Wall Street closes at record high after Biden takes office

  21-01-2021 04:22 via timesofindia.indiatimes.com
  
  Wall Street greeted new US President Joe Biden by climbing even higher on Wednesday, closing at records amid promises of big economic stimulus and relief that the inauguration was uneventful.
  
  Read more

• Government completes tripartite talks on labour codes

  21-01-2021 04:18 via financialexpress.com
  
  The government on Wednesday completed tripartite consultations for four new labour codes, moving a step closer to finalising the rules and their subsequent implementation
  
  Read more

• Daily power demand surges to record 185 gigawatts

  21-01-2021 03:41 via timesofindia.indiatimes.com
  
  India’s power demand hit a record at 185.82 GW (gigawatts) on Wednesday, rising 1.6% over the previous record of 182.89 GW on December 30 and marking 9% increase over the highest single-day supply of 170.97 GW in January 2020.
  
  Read more

• Biden's first year could see record job growth

  21-01-2021 00:43 via timesofindia.indiatimes.com
  
  Joe Biden’s first year in office could go down in history as a record-breaker on the job-creation front, with an explosion in hiring expected as the coronavirus vaccine rollout allows Americans to emerge from a year in hiding.
  
  Read more

• Innovation Index: K’taka is top state again, Delhi best among UTs

  21-01-2021 00:10 via financialexpress.com
  
  Though the rankings are announced separately for the three categories, in terms of just the index score, Delhi tops the list, with a score of 46.6, followed by Karnataka (42.5). However, the average scores in innovation among major states and UTs are just 25.35 and 26.01, respectively, out of 100, suggesting a huge room for improvement.
  
  Read more

• Cabinet approves Rs 5,282 cr to revive J&K hydro project

  20-01-2021 21:50 via financialexpress.com
  
  The Centre will provide a grant of Rs 776.44 crore to JKSPDCL for its equity contribution in the venture. NHPC will invest its Rs 808.14-crore equity from its internal resources. Secunderabad-based GVK Industries was earlier awarded the project development contract for the Ratle hydro plant and JKSPDCL had signed a power purchase agreement (PPA) with the company in June, 2010.
  
  Read more

• Joe Biden's first year could see record employment growth

  20-01-2021 19:43 via timesofindia.indiatimes.com
  
  Joe Biden’s first year in office could go down in history as a record-breaker on the job-creation front, with an explosion in hiring expected as the coronavirus vaccine rollout allows Americans to emerge from a year in hiding.
  
  Read more

• India's oil imports at near 3-year high in Dec

  20-01-2021 19:43 via timesofindia.indiatimes.com
  
  India’s crude oil imports in December soared to the highest levels in nearly three years to more than 5 million barrels per day (bpd) as its refiners cranked up output to meet a rebound in fuel demand, data from trade sources showed.
  
  Read more

Follow @India_Economy_ on Twitter!