Economy News

US economic recovery: Home construction up in September

US economic recovery: Home construction up in September

Washington: U.S. home construction rose a solid 1.9% in September after having fallen in the previous month, as home building continues as one of the bright spots of the economy.The increase last month pushed home construction to a seasonally adjusted annual rate of 1.42 million homes and apartments...

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Report finds Public finances of state governments weakens

Report finds Public finances of state governments weakens

New Delhi: State governments' deficit is seen higher at 5 per cent, up from earlier estimate of 4.5 per cent of gross state domestic product (GSDP) as Covid-19 continues to suppress economic activities resulting in lower resource mobilisation and higher state expenditure, Kotak Institutional Equitie...

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India is riding on Gasoline for its biggest economic package

India is riding on Gasoline for its biggest economic package

New Delhi: The Rs 20 lakh crore package announced by Union Finance Minister Nirmala Sitharaman in at least five sets is riding high on Gasoline.  Sensing the enormity of the situation and the need for a larger economic package, the government on May 5 had raised excise duty on petrol and diesel...

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Borrow more, dont worry about recession, Kerala FM assures Centre

Borrow more, dont worry about recession, Kerala FM assures Centre

New Delhi: The agenda on Compensation Cess could still be unfinished business for the Centre, according to Kerala's Finance Minister Thomas Isaac.The Center during last week agreed to a system which involves it borrowing from the market and funding states with the compensation shortfall.The centre a...

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RBI paper finds what impedes monetary policy

RBI paper finds what impedes monetary policy

Mumbai: What stops a 100 percent adoption of the RBI's monetary announcements? According to a recent white paper titled 'Bank Capital and Monetary Policy Transmission in India' the answer could be significantly higher non-performing assets at banks.The paper authored by Silu Muduli and Harendra Behe...

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Research & Development: Why India Inc's innovation is just loose talk

Research & Development: Why India Inc's innovation is just loose talk

Chalta Hai could still be the keyword in India Inc which has been desperately harping on words such as Innovation, Big Data, Machine Learning, Artificial Intelligence etc.In fact, all the keywords could just be loose talk considering a latest report that delves into how much India Inc spent on Resea...

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How bauxite mining can give more jobs and power to India's economy

How bauxite mining can give more jobs and power to India's economy

Import of bauxite, one of Indias most abundant ores, has caused an estimated forex loss of over $400 million in the last 5 years alone and caused missed opportunities of generating mass scale employment.Experts say bauxite mining creates livelihood opportunities in regions which otherwise have limit...

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Covid Rebound: Japan exports recovers, but at snail pace

Covid Rebound: Japan exports recovers, but at snail pace

Tokyo: Japan's exports fell at a slower pace in September in a sign that trade damage from the coronavirus pandemic is easing, according to Finance Ministry data released Monday.The report showed Japan's exports in September declined 4.9% from the same month a year earlier, better than the nearly 15...

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Markets Today: Sensex cracks 1,000 to sink below 40K, extreme weakness on Nifty

Markets Today: Sensex cracks 1,000 to sink below 40K, extreme weakness on Nifty

Mumbai: It was a carnage, a day that Dalal Street will remember for sometime. Indian equity markets crashed across several indices. The 30-scrip sensitive benchmark - BSE Sensex ended 1,066 points or 2.61 percent in the red, closing at 39,728.41 on Thursday.The 50 scrip Nifty50 was down by 2.43 perc...

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Persistent layoffs could likely keep US jobless higher

Persistent layoffs could likely keep US jobless higher

WASHINGTON: The government will issue its latest snapshot Thursday of the level of layoffs in the United States, which remain elevated seven months after the viral pandemic erupted and after the expiration of federal unemployment aid for millions of Americans.The still-high number of people seeking ...

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