India’s GDP grows 1.6% in Jan-March, says report

India’s economy contracted by less-than-expected 7.3 per cent in the fiscal year ended March 2021 after growth rate picked up in the fourth quarter, just before the world’s worst outbreak of coronavirus infections hit the country. Continue Reading

Budget is transparent & open: Finance Minister

Finance Minister Nirmala Sitharaman said the government has come out with an open and transparent Budget and has not made any attempt to hide anything under the carpet. Continue Reading

Afghan tops World Terrorism Index: Report

The Australia-based Institute for Economics and Peace (IEP) in its annual World Terrorism Index placed Afghanistan as the most-affected country on earth, imposing devastating loss to the countries economy, the media reported on Sunday. Continue Reading

India in historic recession, signals RBI

India’s economy probably shrank for a second straight quarter, pushing the country into an unprecedented recession, according to a team of economists including Michael Patra, Reserve Bank of India’s Deputy Governor in-charge of monetary policy.  Continue Reading

India’s Q1FY21 GDP contracts by 23.9%

Pandemic Covid-19 induced economic turbulence along with measures to curb its outbreak, heavily dented India’s economy and plunged the country’s GDP to (-) 23.9 per cent during the first quarter (Q1) ended June 2020-21. Continue Reading

RBI cuts repo rate by 0.25 bps to 6%

The six-member Monetary Policy Committee (MPC) headed by RBI Governor Shaktikanta Das today announced reduction of repo rates by 0.25 bps points to 6 per recent in its first bi-monthly monetary policy of 2019-20.
The move is expected to lead to reduction of lending rate by banks leading to lower EMI for housing, car loan and corporate borrowers. Continue Reading