Economics

‘Bulk of investment from govt. firms’ The government hopes to get investments from public sector companies as well as the private sector, according to Finance Secretary Subhash Chandra Garg. Mr. Garg said that the government’s own contribution to gross capital formation was small and so, in the unlikely event that …

Three-year road map to improve regulation, supervision The Reserve Bank of India (RBI) board, which met in New Delhi, finalised a three- year roadmap to improve regulation and supervision, among other functions of the central bank. This medium term strategy — named Utkarsh 2022 — is in line with the …

India is an important talent contributor to our global leadership in the U.S., says Ramadurai Minnesota-based 3M Company, that manufactures more than 60,000 products for homes, schools, enterprises, governments and hospitals, may be staring at a barrage of market challenges. These include flagging demand for cars and smartphones, growing end-market …

Repo transmission taking 2-3 months against the 6 months earlier, says Das The financial system is “hugely surplus” with liquidity, Reserve Bank of India Governor Shaktikanta Das said on Monday, adding that this would facilitate better transmission of rate cuts implemented by the central bank. “You have to keep in …

It can fine up to Rs. 10 cr. if a person tampers with information to obstruct probe, destroy data The Finance Bill, 2019 has given the Securities and Exchange Board of India (SEBI) new powers to act against entities that tamper or destroy electronic databases or fail to furnish information …

Surcharge on high income group, strong U.S. jobs data lowering prospects of Fed rate cut dampeners The first trading session of the equity markets after the Union Budget saw stocks in a free-fall mode on Monday as a mix of global factors and domestic concerns emanating from some of the …

The boards of Bank of Baroda (BoB), Vijaya Bank and Dena Bank, on Wednesday approved the share swap ratio for the proposed merger. Vijaya Bank and Dena Bank shareholders will get 402 and 110 shares of BoB, respectively, for every 1,000 shares held. The Union Cabinet approved the amalgamation of …

In a surprising move, Reserve Bank of India’s Governor Urjit Patel resigned on Monday, citing personal reasons, amid tensions between the government and the central bank on various issues. In a statement, Dr. Patel, who was appointed the Governor in September 2016, thanked RBI employees and the board of directors …

Amid a raging controversy over the revised economic growth numbers, former Chief Economic Adviser Arvind Subramanian has called for an investigation by experts to clear doubts and build confidence, while noting that the “puzzle” about the data needs to be explained. In an interview to PTI, Dr. Subramanian stressed that …

Separately, the Cabinet also gave its ‘in-principle’ approval for the strategic sale of the government’s existing 52.63% total paid-up equity shareholding in Rural Electrification Corporation to the Power Finance Corporation, along with the transfer of management control. “In my Budget speech, I had said that where multiple PSUs are operating …