Beijing: China’s economy grew a record 18.3 per cent in the first quarter of 2021, riding on strong domestic and foreign demand and aided by recovery from a low base…
Dwelling in the past cocoons every generation in a comfort zone. Perennially under the spell of self-praise and in the illusion of own generation’s self-adulation, every age group of politicians assumes that their successors would be less worthy. They rue “things have changed”. Of course, they are supposed to change and ought to change. Whether […]
Bhubaneswar: When the pandemic was on the verge of hitting the peak in Odisha around July this year, the State government adopted some rationalization measures in the wake of economic downturn to ensure that priorities like COVID response, livelihoods, agriculture and other crucial sectors are well funded. In a move to enhance capital investment for […]
New Delhi: The Indian economy is forecast to show an average growth of only 0.3 per cent in two years as India enters its first technical recession, GDP could post further decline in 3QFY21. As per a report by Motilal Oswal Financial Services, “Real GDP declined 7.5 per cent YoY in 2QFY21 (or 3QCY20), worse […]
Bhubaneswar: The frequent lockdowns to cull spread of Coronavirus has rattled the middle class, backbone of India’s economy, and the stratum is now bearing the brunt of COVID-19 impact. Apart from the migrant workers and other poor sections of the society, the middle and lower-middle-class seem to be shrinking as the world battles the biggest […]
New Delhi: Wholesale prices in the country witnessed deflation of 3.21 per cent in May due to sharp decline in prices of fuel and power, even as food articles turned expensive. “The annual rate of inflation, based on monthly Wholesale Price Index (WPI), stood at (-) 3.21 per cent (provisional) for May 2020 as compared […]
Bhubaneswar: In order to revive the economy hit by Covid-19 pandemic, the State Planning Board has directed officials of different departments to submit revival proposals within a week. The apex planning body of the State government held a meeting at the Lok Seva Bhawan on Tuesday which was chaired by its deputy chairman Sanjay Das […]
New Delhi: India will emerge stronger from multiple crises of economy, pandemic and super cyclone in the next 6-9 months, say industry leaders, based on the resilience shown by people, businesses and the government. The telecom and information technology will be key to survival and revival of lives and economy, said the business leaders as […]
New Delhi: Finance Minister Nirmala Sitharaman on Thursday reviewed the state of the economy at the meeting of the Financial Stability and Development Council (FSDC), in view of disruptions caused by the COVID-19 pandemic. This was the first meeting of the FSDC, which comprises RBI Governor and other financial sector regulators, since the coronavirus outbreak. […]
New Delhi: India should come out with a large enough stimulus package to revive demand, Nobel laureate Abhijit Banerjee said on Tuesday, asserting that putting cash in the hands of people would be the best way to boost the economy post lockdown. Banerjee, while talking to Congress leader Rahul Gandhi through video-conferencing, suggested giving money […]
New Delhi: The Reserve Bank of India has announced new measures to ease the compliance burden on sectors of the Indian economy most affected by the coronavirus scare. Accordingly, it has extended realisation period of export proceeds to give more time to exporters to comply with regulations. Presently, the value of goods or software exports […]
New Delhi: Banks are ensuring that their branches remain open and ATMs (automated teller machines) functional with adequate cash amid the nationwide lockdown, according to the Union Finance Minister, here on Monday. Taking to Twitter, Finance Minister Nirmala Sitharaman also said banking correspondents were active. “All banks are ensuring that their branches are kept open, […]
New Delhi: Fears of an economic crisis in India are likely to decrease and the country may recover from decelerating growth in 2020, a new report said on Tuesday. According to US-based private equity firm Blackstone, this year the Modi government is likely to continue business-friendly growth reforms, and the Indian economy is likely to […]
New Delhi: Noting that the economy has gone through ups and downs in the past too, Prime Minister Narendra Modi on Friday cited macroeconomic data from previous governments to suggest that the economy would bounce back again with much vigour and strength. Speaking at the centenary event of industry chamber Assocham, Modi said that GDP […]
Mumbai: Invoking the famed ‘Sholay’ dialogue, “itna sannata kyun hai bhai”, the ruling ally Shiv Sena on Monday made a resounding critique on the economic slump which it said “is evident in the subdued Diwali celebrations this year”. Strategically ahead of the tough negotiations for forming the next government in Maharashtra, the Sena launched a […]
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