Economy News

Udan turns lifeline, supplies tons of medical supplies across India

Udan turns lifeline, supplies tons of medical supplies across India

New Delhi: The Centre on Wednesday said that under the "Lifeline Udan" initiative, 74 flights have transported 37.63 tonnes of medical supplies across the country till March 31.According to the Ministry of Civil Aviation, more than 22 tonnes was transported on Tuesday itself.In a statement, the mini...

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GST collection dips in March

GST collection dips in March

New Delhi: The sluggishness in the economy for the past few months has begun reflecting in the tax collections with the Goods and Services Tax (GST) mop-up breaching the psychological Rs 1 lakh crore level to Rs 97,597 crore in March.It has been 8 per cent lower than Rs 1,06,577 crore reported in th...

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Refinery products push India's core industries output to 11-month high

Refinery products push India's core industries output to 11-month high

New Delhi: Healthy production of electricity and refinery products pushed the output pace of India's eight major industries to an 11-month high of 5.5 per cent in February from a revised rise of 1.4 per cent reported for January 2020.However, this uptrend is expected to be fleeting due to the lockdo...

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BPCL strategic sale pushed by a month

BPCL strategic sale pushed by a month

New Delhi: The government has postponed strategic disinvestment process of country's second biggest oil refiner and retailer Bharat Petroleum Corporation (BPCL) by over a month in wake of prevailing situation arising out of COVID-19.The date of submission of expression of interest (EoI) by intereste...

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Salaries for sarkaari babus from Telangana and Maharashtra to be slashed

Salaries for sarkaari babus from Telangana and Maharashtra to be slashed

Mumbai On Tuesday, the Maharashtra government announced that salary for March would be paid in two installments. Salaries for Chief Minister Aditya Thackeray and his cabinet ministers, legislators, cadre officers, officials and other employees in the state are revised.  Legislators and top admi...

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Specified G-secs to be opened for NRIs from April 1: RBI

Specified G-secs to be opened for NRIs from April 1: RBI

New Delhi: The Reserve Bank on Monday notified that some categories of government securities will be opened fully for non-resident investors, and will continue to be open for the domestic investors.At present, G-secs are not fully opened for subscription by non-resident investors.The RBI, in a notif...

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Impossible to predict recession depth right now: Ex-Fed Chair

 Impossible to predict recession depth right now: Ex-Fed Chair

Washington: Former US Federal Reserve Chairwoman Janet Yellen said that the American economic downturn stemming from the coronavirus pandemic has been "rapid and sharp", and it was currently impossible to predict the depth of the recession."The downturn is different than any we've ever experienced i...

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Gov Das tells banks to give Shakti to loan-borrowers: rates slashed, EMI-relief and 10 key things inside

Gov Das tells banks to give Shakti to loan-borrowers: rates slashed, EMI-relief and 10 key things inside

Mumbai: Governor Shaktikanta Das on Friday answered the anxious prayers of millions of banking customers in the country. In a major policy announcement crucial lending rates have been slashed by 0.75 percent to 4.4 percent. The monetary policy committee took a 4-2 decision to announce the cut in the...

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India announces Rs 1.7 lakh crores PM Gareeb Kalyan package for welfare of poor

India announces Rs 1.7 lakh crores PM Gareeb Kalyan package for welfare of poor

New Delhi: Finance Minister Nirmala Sitharaman in a major announcement made on Thursday has said that the centre would spend Rs 170,000 crores as part of a relief package to tackle with Coronavirus.  Rs 1.7 lakh crores will be spent to protect weaker sections of the society from the economic fa...

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1.25 trillion package, cheaper petrol in Pakistan as cases cross 1000

1.25 trillion package, cheaper petrol in Pakistan as cases cross 1000

Islamabad: If reports are to be believed, Prime Minister Imran Khan's government in Pakistan has announced a PKR 1.25 trillion package to keep the country's economy afloat. On Tuesday initial reports pegged Covid-19 induced damage to Pakistan's economy at 1.3 trillions.The latest announcement was re...

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