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How India can rise to the Covid challenge

India is in the middle of a calamity. An extraordinary challenge requires an extraordinary response.

Updated: Mar 31, 2020, 6:15 AM IST

Mega merger of state-run banks comes into force from April 1, says RBI

Govt notified the amalgamation of 10 state owned banks into four as part of its plan to create stronger PSBs.

Updated: Mar 29, 2020, 5:44 PM IST

View: Relief package is peanuts. India needs to triple it

The measures aimed at countering coronavirus are mostly in the right direction but hugely inadequate, he says.

Updated: Mar 29, 2020, 2:11 PM IST

After SC order, India's cryptocurrency space is whirring back into action

Even as Coronavirus spread, with sectors such as retail, travel, aviation, realty and others hunkering down to face prolonged economic pain, the small club of cryptocurrency players stood out. They are hiring and are witnessing customers, particularly millennials, flocking in to buy virtual money.

Updated: Mar 29, 2020, 12:03 PM IST

A US recession? Probably. Depression? Only if the virus is untamed

In the Great Depression for example, the United States shed 20% of its jobs over three years.

Updated: Mar 28, 2020, 12:26 PM IST

IMF says world already in recession, emerging markets need $2.5 trillion

Georgieva told a news conference that emerging market countries need at least $2.5 trillion in financial resources to get through the pandemic.

Updated: Mar 28, 2020, 12:06 PM IST

RBI's dim growth, inflation forecasts show really high degree of uncertainty: Jahangir Aziz

Only way to solve the virus crisis is through a global coordinated solution, says Head Economist of Emerging Markets, JP Morgan.

Updated: Mar 28, 2020, 11:56 AM IST

Bruised Indian economy to be battered further by coronavirus: Reuters poll

According to the Reuters poll of economists taken March 25-26, India’s economy will expand just 4.0% annually on a year ago in the quarter that ends on March 31, the weakest since comparable records began in early 2012. India’s informal sector, the backbone of the economy, will be hardest hit as economic activity comes to a standstill.

Updated: Mar 28, 2020, 11:47 AM IST

Current 'challenging time' in India can prove to be 'an opportunity': US business advocacy group

Prime Minister Narendra Modi on Tuesday announced a countrywide lockdown for three weeks, restricting a population of over 1.3 billion indoors, in an effort to contain the spread of the deadly coronavirus, which has infected over 870 people, including 19 deaths, in India.

Updated: Mar 28, 2020, 11:33 AM IST

No new business, little profit: Banks face the squeeze

Experts say banks will see a negative operating leverage due to less revenue.

Updated: Mar 28, 2020, 8:42 AM IST

RBI allows lenders to provide 3-month moratorium on loans

Banks will now have discretion in deciding the limits on working capital, with RBI saying that no payment miss should be considered a default and reported to credit information companies.

Updated: Mar 28, 2020, 8:06 AM IST

Many promoters lose pledged shares after market mayhem

Promoters of more than 50 cos were able to provide top-up in terms of additional securities.

Updated: Mar 27, 2020, 8:54 AM IST

India likely to unveil $20b-plus economic stimulus package

The stimulus plan could be as large as Rs 2.3 tn, but final numbers were still in discussion.

Updated: Mar 26, 2020, 9:46 AM IST

View: Modi's unprecedented gamble could change India irrevocably

The govt was too slow to roll out testing, and the self-quarantine system for travelers had giant holes in it.

Updated: Mar 25, 2020, 6:17 PM IST

US could be next 'virus epicentre', as India locks down, global recession looms

Confirmed coronavirus cases around the world exceeded 377,000 across 194 countries and territories as of early Tuesday, according to a Reuters tally, more than 16,500 of them fatal. In Geneva, WHO spokeswoman Margaret Harris said infections in the United States had greatly increased. Over the previous 24 hours, 85 percent of new cases were in Europe and the United States, and of those, 40 percent were in the United States.

Updated: Mar 25, 2020, 12:29 PM IST

FM Nirmala Sitharaman sets Rs 15 lakh income cap to tax NRIs

Govt has decided to tax only the income generated by NRIs from the biz in India, leaving their global incomes.

Updated: Mar 25, 2020, 10:46 AM IST

A coronavirus-led recession is coming. Brace yourselves: View

This won’t be a stop and start cycle, because the real economy is so interwoven and interdependent.

Updated: Mar 23, 2020, 2:06 PM IST

This economic crisis will be bigger than GFC 2008: Ross Cameron

The Head of Japan at Northcape Capital says unlike the GFC, with a pandemic, appropriate fiscal action and appropriate monetary action are much less clear, and the duration of the impact is likely to be much longer.

Updated: Mar 23, 2020, 11:04 AM IST

How the coronavirus has hit Indian and global markets

Coronavirus or COVID-19 has spooked not just the Indian stock market but global stock markets as well. ET wealth studies the impact of the pandemic virus.

Updated: Mar 23, 2020, 9:12 AM IST

Private, online and hi-tech: The coronavirus economy

As hundreds of millions of people worldwide are forced to stay in their homes and not travel abroad, the businesses that are helping them to adapt could lead to long-term changes in the economy.

Updated: Mar 22, 2020, 11:14 AM IST

Coronavirus impact: Over 50% of India Inc sees impact on ops, 80% witness fall in cash flow

The findings were based on interactive sessions and survey conducted by Ficci amongst the industry members.

Updated: Mar 20, 2020, 12:38 PM IST

Demonetisation, GST & liquidity crisis drove small businesses to the brink. Then came coronavirus

A string of economic, policy and structural changes over the last three years have dealt a hammer blow to millions of small businesses across the country. Coronavirus may be the death knell.

Updated: Mar 18, 2020, 5:45 PM IST

Australia declares emergency, warns coronavirus crisis could last six months

Australian Prime Minister Scott Morrison on Wednesday declared a “human biosecurity emergency” and said the country’s citizens should abandon all overseas travel because of the coronavirus epidemic that he warned could last at least six months.

Updated: Mar 18, 2020, 11:29 AM IST

Coronavirus death toll crosses 100 in USA as outbreak spreads to all 50 states

The number of deaths due to the new coronavirus in the US has reached 105, with the outbreak spreading to all 50 states, even as President Donald Trump mounted a warlike effort to contain the situation, including an economic stimulus package of USD1 trillion.

Updated: Mar 18, 2020, 9:09 AM IST

Companies Amendment Bill 2020 introduced in Lok Sabha

The government Tuesday introduced a bill in Lok Sabha to amend the Companies Act proposing 72 changes to removing criminality from host of offences under the act and paving the way for direct overseas listing of Indian companies.

Updated: Mar 18, 2020, 6:31 AM IST

India Inc fears coronavirus to pull down GDP by at least 50 bps

Care Ratings has conducted a survey on the impact of the coronavirus pandemic on the economy among over 150 CEOs, CFOs, investors, analysts and other stakeholders from manufacturing, financial services, infra, realty and services between March 5 and 12. According to the survey, the economic impact will be significant and long term if the virus continues for longer.

Updated: Mar 17, 2020, 12:57 PM IST

Coronavirus outbreak will set back India’s growth recovery

Government estimates up to 50-bps hit in FY21, economists see deeper impact caused by the coronavirus outbreak.

Updated: Mar 17, 2020, 11:35 AM IST

Cryptocurrency exchange Binance sets up $50 million Indian blockchain fund

The fund, which plans to invest upwards of $100,000 per startup, promises to open up direct access to Binance’s global blockchain ecosystem to India’s entrepreneurial community.

Updated: Mar 17, 2020, 7:39 AM IST

When a bank fails and your account is frozen, here's what will happen to your deposits, loans

All clearing activities are typically suspended during moratorium. Your cheques already issued will not be honoured till the clearing activities are restarted.

Updated: Mar 16, 2020, 9:56 AM IST

As virus takes over the globe, economic fightback begins

KfW, Germany’s state development bank, will lend $610 billion to ensure companies survive and shield workers. This is the biggest aid package in the country’s post-War history; no upper limit to credit offered by KfW. Financial support in the works for firms forced to halt work and send staff home.

Updated: Mar 16, 2020, 7:39 AM IST

View: Coronavirus threat could spark a mega recession

In the worst case, the virus will spread havoc for a year. In that extreme case, tens of millions may die.

Updated: Mar 15, 2020, 10:17 AM IST

All you need to know from the 39th GST Council meet

Addressing the media after the meeting, Finance Minister Nirmala Sitharaman also said that a better GSTN system to be ensured by Infosys by July 2020.

Updated: Mar 14, 2020, 9:45 PM IST

Direct banks to allow cryptocurrency trade: Firms to RBI

The request comes in the wake of the recent Supreme Court order that struck down the central bank’s April 2018 circular that disallowed banks and regulated entities from facilitating trade in cryptocurrencies.

Updated: Mar 14, 2020, 1:00 PM IST

Coronavirus may light fuse on ‘unexploded bomb’ of corporate debt

Something bad is now happening. As the coronavirus outbreak spreads, halting factories from China to Italy, sending stock markets plunging and prompting fears of a worldwide recession, historic levels of corporate debt threaten to intensify the economic damage.

Updated: Mar 12, 2020, 11:14 AM IST

State Bank of India reduces FD rates. Here are the latest ones

According to the newly effective interest rate, FD having tenor of 7 to 45 days will earn 4 per cent instead of 4.50 per cent earlier.

Updated: Mar 12, 2020, 10:48 AM IST

Chaos of 2020 can’t match 2008 but the gut punch feels familiar

That’s not to say today’s pain doesn’t cut deep.

Updated: Mar 11, 2020, 9:55 AM IST

View: India needs legal framework for cryptocurrencies

Greater transparency in law-making allows businesses to plan and be future-ready.

Updated: Mar 11, 2020, 6:15 AM IST

Wait for new cryptocurrency offerings as SC lifts ban

A number of startups are working on various innovative products for consumers.

Updated: Mar 10, 2020, 11:59 AM IST

Recession looms in Europe as French seek ‘call to arms’

The outbreak has disrupted companies’ supply chains, forced airlines to cut capacity and prompted shoppers in some countries to stockpile essential food items.

Updated: Mar 10, 2020, 11:00 AM IST

Rana Kapoor’s secretary negotiated ‘kickback’ with DHFL: ED

ED suspects that Rana Kapoor’s secretary had a role in negotiating with scam-tainted DHFL in a case of alleged kickback received by firms controlled by Kapoor’s daughters for a loan sanctioned by YES Bank to DHFL. Kapoor was arrested by the ED officials in the wee hours of Sunday and a court has granted the agency custody till March 11.

Updated: Mar 09, 2020, 10:59 AM IST

Default by some NBFCs on secured debentures pushes Sebi to introduce reforms

Sebi has proposed a detailed review of the regulatory framework for Corporate Bonds and Debenture Trustees.

Updated: Mar 08, 2020, 11:56 AM IST

Getting a loan? Your business should be attractive to finance

With the introduction of the Goods and Services Tax (GST) in 2017, banks have found another way to get a view of a business’s financial dealings.

Updated: Mar 07, 2020, 10:39 AM IST

Banking stocks buckle under contagion fears; SBI Slips 6.5%

Analysts said the moratorium imposed on Yes Bank could impact shares of smaller banks.

Updated: Mar 07, 2020, 9:41 AM IST

RBI to seek review of Supreme Court order on cryptocurrency

RBI is worried that the order could put the banking system at risk.

Updated: Mar 06, 2020, 8:24 AM IST

Now that crypto trade is legal in India, here's what happens next

Investors say peer to peer (P2P) cos will see inflow of capital, similar to what has been happening globally.

Updated: Mar 05, 2020, 10:22 AM IST

SC allows trade in cryptocurrency, quashes RBI curb

The Supreme court ruled that the curbs on cryptocurrency trading was illegal.

Updated: Mar 04, 2020, 12:22 PM IST

Slowdown in India is temporary, govt reforms will pay off: Mukesh Ambani

Mukesh Ambani said the country has reasons to be more optimistic for the next decade.

Updated: Feb 29, 2020, 10:14 PM IST

Why market crashed: It's not just coronavirus, there's more to it

India VIX, the barometer of fear in the markets, spiked nearly 20 per cent to top 21-mark.

Updated: Feb 28, 2020, 6:41 PM IST

Fragile economic recovery in India faces new risk from coronavirus

The pickup in India’s growth last quarter from 4.5% in the previous three months probably came from a rebound in farm output, an improving services industry and rising government spending. But the recovery remains uneven, with a slew of high-frequency indicators showing consumption — which accounts for 60% of gross domestic product — is still weak.

Updated: Feb 28, 2020, 12:57 PM IST

The $5-trillion milestone: How to unlock economy’s value

A $5-tn goal is indeed achievable. Here are 3 policy options that the government can unleash to attain it.

Updated: Feb 27, 2020, 7:13 PM IST

Indian economy may be set for the road to recovery in 2020

The central bank eased policy, while the government has widened budget deficit goals to spur economic growth.

Updated: Feb 26, 2020, 12:46 PM IST

Mega bank consolidation: Meeting April 1 deadline appears challenging

Last year, the government announced consolidation of ten PSBs into four mega state-owned lenders.

Updated: Feb 23, 2020, 6:22 PM IST

Japan suffers worst economic slump in five years

Japan has suffered its worst quarterly GDP contraction in more than five years. The quarter was marked by a rise in consumption tax from eight percent to 10 percent, as well as Typhoon Hagibis, which killed more than 100 people and caused widespread flooding. This was even before the novel coronavirus outbreak in China hit Japan.

Updated: Feb 17, 2020, 9:43 AM IST

View: Why the stimulus has failed to lift the economy

Failure of stimulus to stoke growth suggests India’s structural problems are too deep to be stimulated away.

Updated: Feb 16, 2020, 1:18 PM IST

Self-reliance a must to achieve $5 trillion GDP target: Piyush Goyal

Commerce and industry minister Piyush Goyal called on domestic industry to be more self-reliant and imbibe the spirit of nationalism in realising the country’s goal to become a $5 trillion economy.

Updated: Feb 14, 2020, 7:18 AM IST

Get ready for Libor phase-out: IBA

Following the Libor scandal, the financial conduct authority of the UK has decided to phase out the rate by the end of 2021.

Updated: Feb 11, 2020, 12:50 PM IST

When even a rich city like Mumbai is starved of funds

The federal government’s chronic deficits dominate discussions about India’s precarious public finances.

Updated: Feb 08, 2020, 5:42 PM IST

Hit by slump, Tata Steel posts Rs 1,229 crore loss

The company’s India business recorded a net profit of ₹1,194 crore in Q3FY20.

Updated: Feb 08, 2020, 5:02 PM IST

Indian consumers’ mood is worsening, slack building, says RBI survey

The current situation index fell to 83.7 in January, the lowest since March 2015, according to RBI.

Updated: Feb 07, 2020, 6:02 PM IST

Do not apply logic to market, it’s a different animal altogether: Shankar Sharma, First Global

The Dalal Street veteran says India is unlikely to go back a 7-8-9 per cent growth rate any time soon. “Probably not for a long-long-long time to come. That was the unstated but pretty clear message in this Budget,” he says.

Updated: Feb 07, 2020, 12:39 PM IST

Six income tax slabs in, 70 exemptions out: Impact on taxpayers

•The claim that taxpayers will save tax under the new regime raises questions. •Finance Minister Nirmala Sitharaman said in her budget speech that a taxpayer earning Rs 15 lakh will save Rs 78,000 in tax under the new regime.

Updated: Feb 05, 2020, 9:09 AM IST

Chit fund: How it works, red flags and your rights as an investor

Do not invest in chit funds without knowing how it works. Here is all you need to know about investing in them.

Updated: Feb 03, 2020, 12:00 PM IST

A new chapter on glocal education

While education kitty has got only 4% more, foreign universities can partner Indian institutes via ECBs & FDI.

Updated: Feb 03, 2020, 9:21 AM IST

Amended Chit Fund Act brings tighter norms, transparency. Should you use chit funds as savings tool?

Now chit funds are trying to carve out a cleaner identity, a campaign that culminated in a slew of amendments to the Chit Fund Act. These changes have become operative from the beginning of this year.

Updated: Feb 03, 2020, 6:30 AM IST

View: Making sure investors feel safe putting resources here

Boosting investor sentiment is something the government has been focusing on.

Updated: Feb 02, 2020, 12:15 PM IST

View: Boosting growth within fiscal consolidation framework

Total budgetary provision for the rural sector is poised to grow by 13.4% in FY21 after a significant jump of 34.8% in FY20.

Updated: Feb 02, 2020, 12:09 PM IST

View: High on rhetoric, with no hope for economic revival

With a crashing GDP, declining consumption and decreasing investments, the nation was expecting a visionary and futuristic budget that would revive business sentiment.

Updated: Feb 02, 2020, 9:19 AM IST

Budget 2020: NRIs to face more tax compliance issues

According to the proposal, income earned abroad will be exempt if any tax is paid in another country. The question that arises is what happens to Indian citizens who live in countries where there is no tax on individual incomes?

Updated: Feb 02, 2020, 9:11 AM IST

Big push for disinvestment likely to bridge fiscal deficit

Officials were hopeful of meeting the new target of Rs 2.1 lakh crore in the next financial year, which is double that of the current fiscal year, despite disinvestment proceeds for the current year languishing at Rs 18,094 crore.

Updated: Feb 02, 2020, 7:30 AM IST

Budget reforms will bring in new energy to financial system and credit flow: PM Modi

Modi says budget will bring pace to the economy, strengthen every citizen financially and solidify foundation of economy.

Updated: Feb 02, 2020, 7:22 AM IST

Let’s not pretend Nirmala Sitharaman’s Budget can solve our deep structural problems: Swaminathan Aiyar

If the world economy recovers next year, then we can do 6-6.5%, though it is a low base. But if the global economy continues to face problems, getting much above 5-5.5% would be difficult, says Swaminathan Aiyar, Consulting Editor, ET Now, after the Economic Survey was tabled in Parliament.

Updated: Feb 01, 2020, 7:09 AM IST

Budget likely to raise spending to revive economic growth

India is facing its worst economic slowdown in a decade. Growth slipped to 4.5% in the July-September quarter.

Updated: Jan 29, 2020, 1:09 PM IST

Forex reserve hits lifetime high of $462.16 billion

In the previous week, the reserves had increased by $58 million to $461.21 billion.

Updated: Jan 24, 2020, 7:33 PM IST

Bankruptcy board set to tackle group insolvency

Bringing entities on the basis of inter-connectedness or common assets into the group resolution framework may face challenges and lead banks to classify standard accounts as NPAs, dragging standard cases into insolvency because of non-recovery of dues after insolvency resolution.

Updated: Jan 22, 2020, 8:10 AM IST

RBI says crypto not banned, but don’t bank on it

The central bank said this in a response to a petition filed by the Internet and Mobile Association of India (IAMAI), which wanted it to reconsider a 2018 circular directing regulated entities not to deal in cryptocurrencies. RBI said it had not banned crypto but only ringfenced regulated entities like banks from risks associated.

Updated: Jan 21, 2020, 8:08 AM IST

Centre standing on brink of bankruptcy: Yashwant Sinha

Former BJP leader Yashwant Sinha asserted that the economy was passing through its “worst-ever crisis” due to the “death of demand” in sectors. He was speaking on the sidelines of his “Gandhi Shanti Yatra” against Citizenship Amendment Act (CAA) and National Register of Citizens (NRC). Sinha served as finance minister of India during 1998-2002.

Updated: Jan 18, 2020, 7:56 PM IST

Where is Amazon India investing its $1 billion? Gopal Pillai has some details

The brand has plans to establish Digital Haats to enable businesses to integrate into the digital economy.

Updated: Jan 18, 2020, 6:42 PM IST

USD 5 trillion economy goal difficult, not impossible: Gadkari

Union Road Transport and Highways Minister Nitin Gadkari said on Saturday that the goal of making India a USD 5 trillion economy by 2024 was “difficult but not impossible”.

Updated: Jan 18, 2020, 4:47 PM IST

Unitech promoters diverted money of home-buyers and banks to off-shore tax havens: Audit report

Forensic audit of Unitech, done on SC’s orders, reveal massive diversion of funds by the firm.

Updated: Jan 18, 2020, 3:22 PM IST

In relief for 30,000 homebuyers, Centre to take over Unitech

In a major relief to around 30,000 homebuyers, the Centre agreed to take over troubled real estate giant Unitech to streamline the management of the company which is in a financial mess caused by siphoning off of more than 50% of money deposited by individuals and financial institutions.

Updated: Jan 18, 2020, 12:13 PM IST

Oyo's layoffs have hotel partners worried

Hoteliers are unable to contact company representatives who were doing business with them.

Updated: Jan 18, 2020, 11:43 AM IST

Foreign companies will be taxed for money earned by Indian arms

Questioning has begun. The tax department has already issued notices to subsidiaries of several MNCs.

Updated: Jan 17, 2020, 5:19 PM IST

Economic slowdown hits jobs sector: SBI report

India is projected to create 16 lakh less jobs in FY20, according to a SBI research report.

Updated: Jan 14, 2020, 4:38 PM IST

Walmart India lets go of top executives across divisions

Walmart’s cutback comes as Flipkart has announced its entry into food retail in India.

Updated: Jan 13, 2020, 2:51 PM IST

How bad really is the fiscal situation?

At this point, it makes sense to bite the bullet. Govt can fret over deficit after growth has picked up.

Updated: Jan 13, 2020, 12:27 PM IST

Will Indian real estate bounce back in 2020?

In 2019, housing afforability showed a marked improvement. We also saw a plethora of launches in the market. In 2020, Knight Frank expects the GDP growth to touch 6-6.5% by next year. It also expects the real estate sector to maintain its momentum.

Updated: Jan 13, 2020, 11:31 AM IST

Bad loans may continue to stress banks

Some large corporate groups continue to remain stressed, including Essel Group and Coffee Day.

Updated: Jan 13, 2020, 7:32 AM IST

India to propose easing foreign investment rules further

The Finance Ministry has suggested increasing the limit on foreign direct investment in insurance and pension companies to 74% from the present 49% and allowing foreign airlines to own Indian carriers.

Updated: Jan 10, 2020, 11:17 AM IST

View: India is the most exposed major economy to turmoil in West Asia

The total impact of the Soleimani assassination on Indian economy at this stage can thus be conservatively put at a ball-park figure of $50 billion, or nearly 2% of India’s GDP.

Updated: Jan 10, 2020, 9:20 AM IST

Luxury car sales in 2019 see biggest drop in over a decade

Sales of luxury cars in India declined by about 15% last year — the steepest drop in more than a decade.

Updated: Jan 09, 2020, 8:07 PM IST

World Bank pegs India’s growth for FY20 at 5%

The World Bank on Wednesday cut India’s growth for financial year 2020 to 5% from 6% estimated earlier.

Updated: Jan 09, 2020, 4:36 PM IST

Indian real estate attracts $5 billion PE in 2019, commercial projects lead: Report

Indian commercial real estate retained its Numero Uno position and continued be a preferred destination for global institutional investors in the backdrop of robust office space take-up, falling vacancy levels and rising rentals.

Updated: Jan 08, 2020, 8:29 AM IST

IPC, CrPC in for change as Union home ministry tries to speed up justice

Union home ministry, in consultation with the Bureau of Police Research and Development (BPR&D), is considering amendments to the Indian Penal Code (IPC), Code of Criminal Procedure (CrPC) and Evidence Act, and these are among the proposals being looked into, officials in the know said.

Updated: Jan 07, 2020, 8:06 PM IST

View: Charitable trusts must not exert corporate control

A charitable trust cannot invest money in shares. But that privilege continues for the Tatas and Birlas.

Updated: Jan 05, 2020, 5:21 PM IST

We’ve cut rates but you mustn’t miss targets, Modi tells taxmen

Officials were exhorted to meet the direct tax mop-up target of $187 bn, despite $20 bn of corporate tax cuts.

Updated: Jan 05, 2020, 10:14 AM IST

GST rate hikes may come in phases to reduce price pains

A panel of officials looking at the option of small hikes in lower rates or moving up items in tranches.

Updated: Jan 02, 2020, 3:30 PM IST

Carmakers find growth hard to come by

Owing to the transition in Bharat Stage-VI emission norms, wholesale dispatches of passenger vehicles of leading carmakers including Maruti Suzuki, Hyundai and Toyota marginally fell last month due to sluggish demand. The companies adjusted the inventory to ensure that there is no pending BS-IV inventory at dealerships by March 30.

Updated: Jan 02, 2020, 6:37 AM IST

Turmoil in the banking landscape: Year of reckoning for PSU Banks

Goliaths of finance face the formidable task of remaining relevant and surviving change.

Updated: Jan 01, 2020, 9:05 PM IST

2019: The year Indian tycoons faced bankruptcies, jail and even death

Banks wrote off $39 billion loans in 18 months as they battled the world’s worst bad debt pile.

Updated: Jan 01, 2020, 10:17 AM IST

PM, Industry brainstorm on ways to revive growth

Prime Minister Narendra Modi has met with industry representatives and sought inputs on how to reverse the slowdown in the economy, boost exports and on ways to develop the 5G ecosystem. During 3-hour meeting, PM asked them to share details of obstacles they face and suggest ways to overcome them.

Updated: Dec 31, 2019, 6:51 AM IST

Questions for 2020: Can Economy recover from slowdown?

The expert view, as borne out by rapid dialling down of forecasts, is that consumption will remain tepid with concerns over the economy, low rise in incomes, rural stress, and lack of credit dragging down demand. In short, the economy may pick up from the lows, but just about.

Updated: Dec 30, 2019, 11:00 AM IST

Private equity funds go talent shopping for portfolio companies

Advent International, Blackstone, Carlyle, General Atlantic, SoftBank tapping managers for leadership roles. In the past few years, PE funds have preferred to invest in ventures where they get controlling stakes. This helps them to have greater control over operational aspects of the company.

Updated: Dec 30, 2019, 7:33 AM IST

Budget 2020: Income tax cuts, slab rejigs on FM's table

Govt is considering giving more money to people via schemes such as PM-KISAN, boosting infra spend.

Updated: Dec 27, 2019, 5:48 PM IST

Govt panel favours 2 GST slabs, rate rejig for some items

The panel suggested two slabs of 10% and 20%. Alternatively, some goods could be moved from the 18% slab back to 28%, the panel said in a presentation to Bihar deputy CM Sushil Modi in Bengaluru on Monday. The GST Council had, at its recent meeting, asked Modi to look into revenue augmentation measures.

Updated: Dec 26, 2019, 10:53 AM IST

Law firm’s role in PNB case under lens

CBI had seized documents related to the estimated Rs 13,570-crore scam from Lower Parel office of Cyril Amarchand Mangaldas (CAM) in February last year, and is probing if the law firm helped Modi hide key evidence related to the case.

Updated: Dec 24, 2019, 9:31 AM IST

Give spending agenda, ease fiscal deficit target: Economists

At the pre-budget consultation with finance minister Nirmala Sitharaman, some economists suggested relaxation in fiscal deficit target, pegged at 3.3% of GDP for FY20.

Updated: Dec 21, 2019, 7:44 AM IST

Economic revival unlikely soon: International Monetary Fund

Fund’s chief economist Gita Gopinath stresses need for ‘important reforms’ in land acquisition and labour laws

Updated: Dec 21, 2019, 6:58 AM IST

RoC may soon classify Tata Sons as ‘public company'

Registrar of Companies studying judgment; officials not keen to defy NCLAT directive, risk contempt.

Updated: Dec 20, 2019, 12:36 PM IST

It’s crunch time for Indian states’ finances as economy slows

The states have budgeted a consolidated fiscal deficit target of 2.6% of gross domestic product in the financial year ending March, a recent study by the Reserve Bank of India shows. Outstanding debt of states has risen over the last five years to 25% of GDP, posing medium-term challenges to its sustainability

Updated: Dec 20, 2019, 9:02 AM IST

Cyrus Mistry's ouster was a vindictive act of one person: Nusli Wadia

“I am proud that I was the only independent director who believed in Cyrus and was opposed to his unjust removal,” Wadia said.

Updated: Dec 19, 2019, 11:41 AM IST

Procedures not followed in Cyrus Mistry's ouster: NCLAT

Tata Sons did not follow the required procedures for the conversion, NCLAT said, adding that the process laid out under Section 14 of the Companies Act, which includes getting approval from the tribunal for conversion, was not followed.

Updated: Dec 19, 2019, 8:06 AM IST

9 major trends reshaping the world economy

Although goods are still traded in higher volumes, some services are growing up to 3X faster This changes the mix of industries and countries involved in this shift from goods to services.

Updated: Dec 19, 2019, 7:02 AM IST

Citizenship (Amendment) Act: Some facts vs Mythbusters

GoI has reached out to those opposed to the Citizenship (Amendment) Act (CAA) with a series of tweets, statements and declarations at political rallies.

Updated: Dec 18, 2019, 11:24 AM IST

Bengal FM cautions govt against reviewing exemptions under GST

West Bengal finance minister Amit Mitra, in his letter to Union finance minister Nirmala Sitharaman mentioned the exemptions to commodities from GST that were discussed in a meeting. He said the basic principle behind exempting these items was tha…

Updated: Dec 17, 2019, 6:53 AM IST

Core Sector puts up worst show in 14 years, shrinks 5.2% in September

Core Sector puts up worst show in 14 years, shrinks 5.2% in September

Updated: Nov 01, 2019, 7:59 AM IST

With no liquidity, liquor sales on the rocks

With no liquidity, liquor sales on the rocks Liquor trade’s hangover from the slowdown is similar to FMCG failing to take a bigger bite out of consumer spend, again thanks to liquidity issues. Hindustan Unilever had last month said trade was facing an acute liquidity crunch. Analysts expect …

Updated: Nov 01, 2019, 7:23 AM IST

Many companies in a fix as working capital may be stuck due to a GST regulation

Many companies could face a stress on their working after a Goods and Services Tax (GST) regulation may lead to hundreds of crores stuck in input tax credit claims.

Updated: Oct 18, 2019, 9:06 PM IST

PSUs unhappy with fines over corporate governance violations

Several government-owned companies are at loggerheads with domestic bourses over applicability of the capital market regulator’s new corporate governance laws. Stock exchanges have levied penalties on over a dozen public sector undertakings (PSUs) for not complying with the board and independent director requirements.

Updated: Oct 18, 2019, 6:00 PM IST

Government set to halve Air India baggage before selloff

Govt has raised Rs 22,000 crore through issue of bonds, as it looks to remove key hurdles in AI’s privatisation.

Updated: Oct 18, 2019, 8:48 AM IST

Economy in tailspin…doing very badly, says Nobel laureate Abhijit Banerjee

Abhijit Banerjee has repeatedly expressed concern over the slowing growth of the Indian economy, saying it was time India stopped worrying about monetary stability and started worrying a little more about demand.

Updated: Oct 16, 2019, 9:55 AM IST

Will meet tax targets: Ajay Bhushan Pandey, Revenue secretary

Revenue secretary Ajay Bhushan Pandey strongly refuted criticism that the goods and services tax was the cause of the current economic slowdown, saying it was a win-win for everyone, with the incidence of taxation coming down on every commodity.

Updated: Oct 16, 2019, 7:12 AM IST