Economy News

Uptick in services seen to push Q3 GDP mildly up: ICRA

Uptick in services seen to push Q3 GDP mildly up: ICRA

New Delhi: A modest uptick in the momentum of services, industry and agriculture is seen to mildly step up India's gross domestic product (GDP) growth rate during the third quarter of FY20 sequentially, according to ratings agency ICRA.ICRA expects the GDP and the gross value added (GVA) growth at b...

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V shaped recovery for global markets delusional: Nouriel Roubini

V shaped recovery for global markets delusional: Nouriel Roubini

New York: Painting a grim picture for global stock markets already reeling from the twin onslaughts of economic sluggishness and the coronavirus, American economist Nouriel Roubini said the prospect of a 'V shaped recovery, where all of the virus-hit is absorbed within the first quarter, is a "delus...

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Increase in public float to 35% may see action next fiscal

Increase in public float to 35% may see action next fiscal

New Delhi: With the 2019-20 fiscal coming to an end soon, the Budget proposal to consider raising the public float in listed companies to 35 per cent may see some action in the next financial year, officials said on Tuesday.It needs examination of impacts and trends, and also seek stakeholders' view...

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ISMA revises sugar production estimate to 26.5 million tonnes

ISMA revises sugar production estimate to 26.5 million tonnes

New Delhi: A trade body representing the sugar mills has revised the sugar production estimates in India from 26 million tonnes to 26.5 million tonnes during 2019-20.This comes after taking into account the reduction in sugar production owing to diversion of heavy molasses for production of more eth...

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CCEA nod for scheme for 10,000 FPOs

CCEA nod for scheme for 10,000 FPOs

New Delhi: The Cabinet Committee on Economic Affairs (CCEA) on Wednesday gave its approval for a scheme for the formation of 10,000 Farmer Producer Organizations (FPOs) in five years to ensure economies of scale for farmers.The new Central sector scheme titled 'Formation and Promotion of Farmer Prod...

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Wishful thinking to target $5 tn economy by 2025: Manmohan

Wishful thinking to target $5 tn economy by 2025: Manmohan

New Delhi: Lashing out at the government for its lack of focus, former Prime Minister Manmohan Singh on Wednesday termed the Centre's hopes of turning India into a $5 trillion economy by 2024-25 as "wishful thinking"."Today the government does not want to acknowledge the word slowdown. This is not a...

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Big crude oil supply deal expected during Trump visit

Big crude oil supply deal expected during Trump visit

New Delhi: India and US may seal a large crude oil supply deal during the visit of President Donald Trump later this month, with diplomatic sources indicating that American oil companies are coming with offers to make it attractive for Indian firms to increase oil imports from US despite long distan...

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'Women entrepreneurship can create 150-170 mn jobs in India'

'Women entrepreneurship can create 150-170 mn jobs in India'

New Delhi: Women in entrepreneurship can generate transformational employment in India and generate 150-170 million jobs, which is more than 25 per cent of the new jobs required for the entire working age population by 2030, a new report said on Tuesday.A joint report by Bain & Company and Googl...

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Urban consumer sentiment recovers in February: Survey

Urban consumer sentiment recovers in February: Survey

New Delhi: Consumer sentiments in urban India have witnessed a recovery in February, according to the latest joint-survey by Refinitiv and Ipsos.In February, consumer sentiment witnessed an improvement of 2.5 percentage points, according to the Refinitiv-Ipsos Primary Consumer Sentiment Index (PCSI)...

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FM allays fears on price rise, to discuss COVID-19 with PMO

FM allays fears on price rise, to discuss COVID-19 with PMO

New Delhi: Finance Minister Nirmala Sitharaman on Tuesday said she will discuss with the PMO about the relief that could be offered to industry but allayed any immediate worries about scarcity of any raw materials as yet on account of inventories built up by sectors as also on price rise."There coul...

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