Economics

‘Tussle between economists, IAS lobby’ The appointment of the deputy governor in the Reserve Bank of India to fill up the vacancy that was created after Viral Acharya’s departure could be a complicated one. This is because there is a strong view in a section of the bureaucracy that the …

West Bengal allows 15% of land in a tea garden to be used for economic activities The tea industry in West Bengal is witnessing a major boost to employment with the State government’s relaxation of norms for use of leasehold land in a tea garden. The move may induce garden …

The United Nations aviation watchdog, International Civil Aviation Organization (ICAO), is “not empowered to intervene” in the affairs of a country and will examine inputs from both India and Pakistan before it takes a decision to pursue the issue of denial of overflight to Prime Minister Narendra Modi’s aircraft during …

A rise in average temperatures across India would increase death rates by 10%, translating into an extra million and a half deaths by the end of the century, says a report by researchers based at The Climate Impact Lab, a collaboration of researchers from multiple U.S. universities and organisations. This …

As much as 97% of GST refunds due to MSMEs (Micro, Small and Medium Enterprises) as of August 23 has been paid by the government, according to the Finance Ministry. In a status report on the implementation of measures announced by Finance Minister Nirmala Sitharaman in August and September, the …

Positive momentum continued in the equity markets, with benchmark indices closing with gains for the fifth consecutive day. The BSE Sensex also touched its all-time high of 40,392.22 points before correcting to close at 40,129.05 , up 77 points or 0.19%, on Thursday. The top gainers in the Sensex pack …

Two new departments, with specialised cadre on supervision and regulation within the Reserve Bank of India, will start functioning from November 1, indicating the changes in the central bank’s approach to these two crucial issues of the financial system that has dominated public discourse in recent times. These departments have …

Output of eight core infrastructure industries contracted by 5.2% in September, indicating the severity of the economic slowdown. As many as seven of eight core industries saw a contraction in output in Septe-mber. Coal production fell steeply by 20.5%, crude oil by 5.4%, and natural gas by 4.9%. Output of …

Cheaper imports from Vietnam via Sri Lanka, duty-free, blamed for distress A drastic fall in the price of black pepper and low production owing to climate vagaries are the major concerns of farmers in Kerala and Karnataka, the two major pepper producing States in the country. Black pepper prices have …

Telecom major seeks formulation of a ‘constructive mechanism in the best interest of all parties ‘ Bharti Airtel on Wednesday expressed hope that the government would take a ‘balanced approach’ on the issue of adjusted gross revenue (AGR) to ensure long-term viability of the industry. The statement comes a day …

Industrialist Mukesh Ambani on Tuesday said the slowdown in the Indian economy was temporary and the recent measures taken by the government would help reverse the trend in the coming quarters. Speaking at Saudi Arabia’s annual investment forum, also known as ‘Davos in the desert’, he said the reforms undertaken …

Industry stares at over Rs. 1.4 lakh-crore payout to exchequer The government has constituted a Committee of Secretaries (CoS), headed by Cabinet Secretary Rajiv Gauba, to work out a relief package for the telecom sector, a move that may help mitigate the impact of the more than Rs. 1.4 lakh …

The festive season has brought some relief to automakers, with passenger vehicle makers witnessing up to a 50% jump in retail sales during the Diwali period — driven mainly by high discounts — as compared to the festive season last year. Even though this growth comes on a low base …

The Confederation of All India Traders (CAIT) has written to Finance Minister Nirmala Sitharaman alleging loss of GST revenue to the government due to deep discounting by e-commerce firms, particularly Amazon and Flipkart. Seeking investigation into the business model of both the players, CAIT said e-commerce companies sell goods much …

Domestic aviation traffic grew at a measly rate of 1.18% in September as compared to the year ago period, according to the monthly data released by the Directorate General of Civil Aviation (DGCA). Airlines altogether flew 1.15 crore passengers last month as compared to 1.13 crore during the same period …

Infrastructure Leasing and Financial Services (IL&FS), has completed its first asset sale plan, selling 51% stake in its wind energy arm to Orix Corporation. “The IL&FS Group has completed the sale process of its 51% stake, held through IL&FS Wind Energy Limited (IWEL) in seven operating wind power SPVs (with …

Karnataka has been ranked as the most innovative State in the NITI Aayog’s India Innovation Index 2019, released on Thursday. Tamil Nadu, Maharashtra, Telangana, Haryana, Kerala, Uttar Pradesh, West Bengal, Gujarat and Andhra Pradesh follow in the rankings of the 10 major States, in that order. “The study examines the …

India is ranked 102 of 117 countries in the Global Hunger Index 2019, behind its neighbours Nepal, Pakistan and Bangladesh. The report, prepared jointly by Irish aid agency Concern Worldwide and German organisation Welt Hunger Hilfe termed the level of hunger in India “serious”. In 2018, India was ranked 103 …

Centre explores opportunities for expansion of tourism in Ladakh A Buddhist monastery in Ladakh in Kargil district could soon be given Central protection as the Archaeological Survey of India on Tuesday invited objections or suggestions on declaring the Rangdum monastery a monument of national importance. Last month, Tourism and Culture …

Foreign cattle grew 32%, says Census The Centre’s drive to increase indigenous breeds of cattle seems to have had little impact among cows kept for dairy purposes, according to data from the 20th Livestock Census released on Wednesday. There are 4.85 crore desi (native) milch cows in the country, less …