Tag: Fy21

Resource constraint may lead to no new scheme funding in FY21

New Delhi: Government has suspended expenditure on all new and approved public-funded schemes and projects of ministries during the current financial year in wake of Covid-19 pandemic that has put unprecedented demand on public financial resources. Accordingly, ministries have been told that no new schemes and sub-schemes should be initiated in FY21 excerpt those announced […]

Banks remain open, ATMs filled up: Union Finance Min

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, […]

India Ratings Expects GDP Growth Of 5.5% For FY21

New Delhi: India Ratings and Research on Wednesday said that it expects gross domestic product (GDP) to grow at 5.5 per cent in FY21. The agency’s forecast is marginal higher than the GDP growth of 5 per cent estimated by National Statistical Office for FY20. The current slowdown in economic activity, according to the agency is […]