Economy News

Food prices cool India's March inflation to 5.91%

Food prices cool India's March inflation to 5.91%

New Delhi: Retail inflation in the country has dropped to 5.91% in March from 6.58% in February, down majorly due to a deceleration in food prices. Although the latest numbers are on the lower side, it is still higher than the mandated 4% inflation target set by the RBI.  Data from the National...

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Analysts peg cost of 21 day lockdown at 8 trillion

Analysts peg cost of 21 day lockdown at 8 trillion

New Delhi: India's 21 day lockdown that would officially conclude on Tuesday, 14th February, touted among the world's biggest, could also be the costliest. The 21 day lockdown may cost India Rs 8 trillions or Rs 8 lakh crores, if analysts and reports are to believed.  The lockdown that began fr...

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Must convert Covid-19 adversity into opportunity: SpiceJet CMD

Must convert Covid-19 adversity into opportunity: SpiceJet CMD

New Delhi: Even as SpiceJet prepares a blueprint to eventually re-start operations with new safety norms, the company's top official believes the centre will support the industry through these tough times and turn the Covid-19 adversity into an opportunity by ushering in structural reforms.According...

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Opposition asks for a bolder economic package, give states their GST dues

Opposition asks for a bolder economic package, give states their GST dues

<b>New Delhi:</b> In the times of the distressing Coronavirus pandemic, the opposition party Congress has asked PM Narendra Modi's government to be bold in announcing a bigger economic recovery package.According to the opposition, a bigger recovery package will help state governments in ...

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Covid-Impact: India Auto sales down by half, Rs 48,300 crore damage reveals SIAM's data

Covid-Impact: India Auto sales down by half, Rs 48,300 crore damage reveals SIAM's data

Mumbai: The damage from the Coronavirus and the lockdown could be in several multiples of crores. The Society of Indian Automobile manufacturers on Monday published data that reveals a 51% decline in passenger vehicle sales for the month of March.According to the latest data, sales in March'2020 dro...

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Stung by Covid, Indian businesses expect months of tax revenue to stay afloat

Stung by Covid, Indian businesses expect months of tax revenue to stay afloat

Mumbai/New-Delhi: The pandemic coronavirus has affected the industry in myriad ways than one would have ever imagined. With the nation locked-down and only essential goods allowed to be transported, the business community is reeling and has been caught complaining on the potential loss arising from ...

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Sitharaman and ministry may be announcing relief package for sectors soon

Sitharaman and ministry may be announcing relief package for sectors soon

New Delhi: If reports are to be believed, Finance Minister Nirmala Sitharaman may soon be announcing a fresh stimulus for sectors stung by the pandemic coronavirus soon. The second package could be announced after the 21-day lockdown officially concludes.So far, the Finance Ministry announced the &l...

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Chaos and scrambling in the US oil patch as prices plummet

Chaos and scrambling in the US oil patch as prices plummet

New York: In Montana, a father and son running a small oil business are cutting their salaries in half. In New Mexico, an oil truck driver who supports his family just went a week without pay. And in Alaska, lawmakers have had to dip into the state’s savings as oil revenue dries up.The global econom...

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Shinzo Abe to declare emergency in Tokyo and other areas

Shinzo Abe to declare emergency in Tokyo and other areas

Tokyo: Japanese Prime Minister Shinzo Abe said that he will declare a state of emergency for Tokyo and six other prefectures as early as Tuesday to bolster measures to fight the coronavirus, but that there will be no hard lockdowns.Abe also told reporters Monday that his government will launch a 108...

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Raghuram Rajan calls Coronavirus as India's biggest economic emergency since 1947

Raghuram Rajan calls Coronavirus as India's biggest economic emergency  since 1947

New Delhi: Former RBI Governor Raghuram Rajan has said that due to the coronavirus crisis, India currently faces the greatest economic emergency since its independence.He noted that although the global financial crisis in 2008-09 had a severe impact on the country, economic activity was going on and...

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