As many as eight public sector banks (PSBs) have decided to raise capital from the market within four months as part of the Rs 2.11 lakh crore recapitalisation plan, according to official sources. Some banks have already got approval from the finance ministry while others are in the process of getting the green signal for raising capital either through private placement or the rights issue, the
Foreign investors pumped over Rs 19,700 crore into the country's stock markets in November, the highest in eight months, mainly due to government's plan to recapitalise PSU banks and surge in India's ranking in the World Bank's ease of doing business. In addition, such investors put in Rs 530 crore in the debt markets during the period under review.
According to deposi
CPI inflation is expected to firm up in the coming months driven by a cyclical recovery in the economy and further implementation of pay commission-related hikes by states, according to experts. Price pressures have been relatively subdued in the early part of the calendar year, as weak demand conditions and demonetisation program weighed on inflation. However, going forward, Consumer Price Ind
The Monetary Policy Committee, which will be meeting next week, is likely to keep repo rates unchanged at 6 per cent on inflation concerns, says a study. The retail inflation or consumer price index based- inflation inched up to a seven-month high of 3.58 per cent in October from 3.28 per cent in September.
The central bank will announce the policy review on December 6 after two days
A day after GDP data showed Indian economy has entered the revival lane, EAC-PM Chairman Bibek Debroy said the trend will continue in coming quarters too, reported PTI. Reversing a five-quarter slide in GDP growth, Indian economy bounced back from a three-year low to expand by 6.3 per cent in July-September as manufacturing picked up momentum and businesses adjusted to the new GST tax regime.
The Reserve Bank of India (RBI) is expected to keep its key interest rate unchanged at its penultimate monetary policy review of the fiscal on Wednesday owing to higher inflation in October and a surge in oil prices, even as the reversal in the decline of GDP growth during the second quarter has eased pressure on the central bank to cut rates.
At its previous bi-monthly policy review
Expressing disappointment about the Indian economic growth figures for the second quarter, former Chief Economic Adviser (CEA) Kaushik Basu said on Sunday that the country's GDP should have grown at over 9 per cent in the context of low crude oil prices.
"India's growth rate is now 6.3 per cent. It had reached a rate of 9.5 per cent from 2005-2008," tweeted Basu, who
The Indian healthcare market is likely to reach $372 billion by 2022 in a threefold growth in value terms, industry chamber Assocham said on Sunday, citing its latest study on the subject.
"India's healthcare market may see threefold rise as its size in value terms is likely to reach $372 billion by 2022 from the level of $110 bn as of 2016, thereby clocking a compounded
The Telangana government on Saturday announced that it will set up Information Technology campus for persons with disabilities, claiming this will be the world's first such facility.
On the eve of World Disability Day, the government entered into an agreement with Vindhya E-Infomedia Private Limited to setup the IT campus which will focus on creating employment opportunity fo
Former Prime Minister Manmohan Singh on Saturday said it was too early to conclude that the economic slowdown has reversed as the 6.3 per cent growth rate in the July-September quarter did not take into account the small and medium sector which suffered huge losses in the aftermath of demonetisation and hasty implementation of GST.
He welcomed the 6.3 per cent growth rate in the July-
UBS Optimus Foundation will provide $3.5 million initial working capital for Rajasthan Development Impact Bond aimed at reducing the number of maternal and newborn deaths in the state.
Said to be the world's first Development Impact Bond (DIB) in healthcare, it is expected to improve the quality of care among private maternity care providers.
UBS Optimus Foundation is th
India's foreign exchange (Forex) reserves kitty increased by $1.20 billion as on November 24, 2017, official data showed on Friday.
The Reserve Bank of India's (RBI) weekly statistical supplement released on Friday showed that the overall Forex reserves rose to $400.74 billion from $399.53 billion reported for the week ended November 17.
India's Forex reserves co
Amid the H1B visa row in India, the US government on Friday said there has been no change in law regarding the H1B regime and the system continued to be as before.
Acting Deputy Assistant Secretary for State for South Asia Thomas Vajda said no legislation has been passed so far on the particular category of visa.
"(There is) no change in the law today for H1B (vis
Prime Minister's Economic Advisory Council (EAC-PM) Chairman Bibek Debroy on Friday welcomed the GDP growth recovery in the second quarter of the current fiscal and said the trend will continue in the future quarters.
"In the wake of various measures being undertaken by the Central government, this GDP growth trend will continue in the future quarters also," he said, as
The International Monetary Fund (IMF) has said that it will update its growth rate forecast for India in January next year. Recently, the US-based Moody's upgraded India's sovereign rating after a gap of 13 years to Baa2, with 'stable' outlook, from Baa3 earlier, citing improved growth prospects driven by economic and institutional reforms.
Commenting on the issue, IMF
India’s eight core infrastructure industries grew at slower-than-expected pace of 4.7 per cent in October, 2017 as compared to 7.1 per cent in the same month last year, read a government statement. “The combined Index of Eight Core Industries, coal, crude oil, natural gas, refinery products, fertilisers, steel, cement and electricity, stands at 128.2 in October, 2017, which was 4.7
Finance Minister Arun Jaitley said the Goods and Services Tax (GST) has made doing business easier for traders by expanding the market place and reducing tax compliance burden, reported PTI. He further said that the two structural reforms -- GST and demonetisation -- will benefit the economy in the medium and long-term. "GST has made doing business and trade very easy. The market size for
The Union Cabinet on Thursday approved setting up of National Nutrition Mission (NNM) with a three year budget of Rs.9046.17 crore commencing from 2017-18. The NNM, as an apex body, will monitor, supervise, fix targets and guide the nutrition related interventions across the Ministries. The programme through the targets will strive to reduce the level of stunting, under-nutrition, anemia and lo
Finance Minister Arun Jaitley has said that the Government is planning at merging 12 and 18 per cent tax rates under GST once revenue collections pick up. The FM also said the top 28 per cent slab would be for a very thin list of luxury and sin goods. As per reports, the Goods and Services Tax (GST), rolled out on July 1, currently has four tax slabs of 5, 12 18 and 28 per cent. There is also a
While hailing Prime Minister Narendra Modi for his role in the Paris climate accord, former US President Barack Obama on Friday said that there is no problem that cannot be solved if India and the US work together.
"If India and the United States are working together, I believe there is no problem we cannot solve," Obama said while addressing the Hindustan Times Leadership S
The September quarter growth rebound shows that the economy has come out of the woods and economic expansion for the full year will come in at 6.5-7 per cent, Niti Aayog Vice-Chairman Rajiv Kumar said as per the PTI report. For the moment, "we must celebrate uptick in the economy", Kumar further said. "We have now started rising again.
The economy has come out of the wo
With India's growth improving to 6.3 per cent in July-September, industry bodies said the economy is on a solid recovery path and may fare better in the second half of 2017-18 as businesses adjust to GST, reported PTI. The expansion reversed five quarters of slackening GDP growth and came on the back of an improved show by manufacturing.
The gross domestic product (GDP) growth had
Reversing a five-quarter slide in GDP growth, Indian economy bounced back from a three-year low to expand by 6.3 per cent in July-September as manufacturing revved up and businesses adjusted to the new GST tax regime, reported PTI. The GDP growth in the second quarter of 2017-18 compares to 5.7 per cent in April-June, the lowest growth rate since the Narendra Modi government took office, and 7.
Finance Minister Arun Jaitley today said improved macroeconomic fundamentals have placed India on 7-8 per cent growth trajectory and the country needs big infrastructure investments over next two decades to evolve into a middle income economy and then into a developed one, reported PTI. The funding requirement for infrastructure in the country is huge and there is a requirement of a whopping Rs
Finance Minister Arun Jaitley said he intends to be on track on lowering fiscal deficit even as the figure for April-October hit 96.1 per cent of budget estimates, reported PTI. "The FRBM (Fiscal Responsibility and Budget Management) report is under consideration. The last three years, we have an exemplary record as far as maintaining that glide path is concerned. We intend to move on that