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Kumar Mangalam Birla, chairman of Aditya Birla Group, at the Hindustan Times Leadership Summit in New Delhi on Friday, December 6, 2019.(Sanjeev Verma/HT PHOTO)

18 to 20 months before the economy recovers: Kumar Mangalam Birla at HTLS

Hindustan Times, New Delhi | By HT Correspondent
UPDATED ON DEC 06, 2019 12:43 PM IST
“The government has taken many steps but we need a stronger fiscal stimulus. if GST is brought down by 15%, that would be a huge stimulus,” Birla said at the Hindustan Times Leadership Summit.
The income-tax department said that it had processed 21 million refunds for the current assessment year 2019-20 as on November 28, 2019, a 20% year-on-year jump(Getty Images/iStockphoto)
The income-tax department said that it had processed 21 million refunds for the current assessment year 2019-20 as on November 28, 2019, a 20% year-on-year jump(Getty Images/iStockphoto)

Loans worth Rs 5 lakh cr, rise in income tax refunds may push up spending

Hindustan Times, New Delhi | By Rajeev Jayaswal
UPDATED ON DEC 04, 2019 09:39 AM IST
The loans push is part of the government’s efforts to revive demand in a slowing economy. Data released on Friday showed that the economy expanded by 4.5% in the second quarter (ending September 30) of 2019-2020, the lowest rate of growth since March 2013.
This GDP growth data for the September 2019 quarter is the lowest since January-March of 2012-13, when it was registered at 4.3 per cent. (HT photo)
This GDP growth data for the September 2019 quarter is the lowest since January-March of 2012-13, when it was registered at 4.3 per cent. (HT photo)

April-October fiscal deficit stood at 102.4 % of budgeted target

New Delhi | By Reuters
UPDATED ON NOV 29, 2019 07:56 PM IST
Net tax receipts in the April-October period was 6.83 trillion rupees, while total expenditure was 16.55 trillion rupees, the data showed
The FM would do well to speak more on this so that the investing community does not tar the central government with the same brush as the AP government(ANI Photo)
The FM would do well to speak more on this so that the investing community does not tar the central government with the same brush as the AP government(ANI Photo)

A blueprint to revive demand and growth in the Indian economy | Opinion

By Govind Sankaranarayanan
PUBLISHED ON NOV 28, 2019 07:42 PM IST
To boost manufacturing, the government must send out signals to the bureaucracy, courts, states and investors
Prime Minister Narendra Modi’s September visit to Vladivostok for the Eastern Economic Forum, where he met Russian President Vladimir Putin, signals India’s interest in the Far East.(Reuters image)
Prime Minister Narendra Modi’s September visit to Vladivostok for the Eastern Economic Forum, where he met Russian President Vladimir Putin, signals India’s interest in the Far East.(Reuters image)

HTLS 2019: Knowledge is essential to create $5-trillion economy

By TCA Raghavan
UPDATED ON NOV 26, 2019 04:14 PM IST
Knowledge production and foreign policy go hand in hand. Thus, stronger investment in the university system will ensure multidisciplinary and indigenously driven scholarship.
In January last year, the Statistics Ministry had said that it is set to change the base year of national accounts to 2017-18 from 2011-12 after completion of the household consumer expenditure survey and labour force data by the end of 2018. (HT photo)
In January last year, the Statistics Ministry had said that it is set to change the base year of national accounts to 2017-18 from 2011-12 after completion of the household consumer expenditure survey and labour force data by the end of 2018. (HT photo)

Centre to bring in new base year for GDP calculation in few months: Official

New Delhi | By Press Trust of India
UPDATED ON NOV 05, 2019 10:20 PM IST
Though the ministry is considering 2017-18 as the new base year, no decision has been taken as the committees of experts are awaiting some more data before finalising their opinion.
Former RBI Governor Raghuram Rajan reminded Finance Minister Nirmala Sitharaman that two-third of his tenure as the head of the central bank was under the BJP government.(Reuters image)
Former RBI Governor Raghuram Rajan reminded Finance Minister Nirmala Sitharaman that two-third of his tenure as the head of the central bank was under the BJP government.(Reuters image)

‘Worked majorly under BJP govt’: Raghuram Rajan hits back at Nirmala Sitharaman

New Delhi | By Press Trust of India
UPDATED ON OCT 31, 2019 04:16 PM IST
Raghuram Rajan was asked about Niramala Sitharaman’s comments in New York earlier this month where she said that the Indian public sector banks had the “worst phase” under the combination of former Prime Minister Manmohan Singh and Rajan.
File photo of Delhj’s IGI airport.(HT Photo)
File photo of Delhj’s IGI airport.(HT Photo)

India plans to open 100 airports at a cost of Rs 1 lakh crore by 2024: Report

By Bloomberg
UPDATED ON OCT 31, 2019 12:39 PM IST
With economic activity at a six-year low and prospects of further slowdown looming, Prime Minister Narendra Modi is keen to double down on infrastructure projects in a bid to revive growth and achieve a target of making India a $5 trillion economy by 2025.
Prime Minister Narendra Modi with World Bank President David Malpass in New Delhi.(PTI photo)
Prime Minister Narendra Modi with World Bank President David Malpass in New Delhi.(PTI photo)

India to gain from more land reforms: World Bank chief

Bloomberg, New Delhi | By Gireesh Chandra Prasad, New Delhi
UPDATED ON OCT 27, 2019 02:19 AM IST
Malpass’ suggestions on further reforms come in the context of India improving its position in World Bank’s ‘ease of doing business 2020’ study released earlier in the week showing that India had moved up 14 places in this year’s ranking to 63rd position, up from last year’s 77.
Gold sales on the most auspicious day in India to buy the metal tumbled this year as high prices and concerns about an economic slowdown saw customers limit purchases.(Bloomberg photo)
Gold sales on the most auspicious day in India to buy the metal tumbled this year as high prices and concerns about an economic slowdown saw customers limit purchases.(Bloomberg photo)

Biggest gold buying day ‘Dhanteras’ in India off to a disappointing start

Bloomberg, Mumbai | By Swansy Afonso
PUBLISHED ON OCT 26, 2019 06:09 PM IST
India’s gold imports have fallen for a third month in September to the lowest in more than three years as jewelers cut purchases on poor demand.
Prakash Javadekar said that the intention for the move was to increase farmers’ earnings.(HT photo/Sanket Wankhade)
Prakash Javadekar said that the intention for the move was to increase farmers’ earnings.(HT photo/Sanket Wankhade)

Govt hikes MSP for wheat and pulses, says move to ‘increase farmers’ income’

New Delhi | By Press Trust of India
PUBLISHED ON OCT 23, 2019 05:03 PM IST
“In a move to increase farmers’ income, the Cabinet has increased the minimum support price (MSP) of rabi (winter-sown) crops for the current year,” said Information and Broadcasting Minister Prakash Javadekar.
Union finance minister Nirmala Sitharaman at Columbia University in New York, Tuesday, Oct.15, 2019.(PTI)
Union finance minister Nirmala Sitharaman at Columbia University in New York, Tuesday, Oct.15, 2019.(PTI)

Manmohan Singh ‘looked the other way’ as corruption flourished, says Nirmala Sitharaman

Hindustan Times, Washington | By Yashwant Raj
UPDATED ON JUL 12, 2020 08:57 PM IST
Speaking to reporters on the sidelines of the annual World Bank Group meetings, the finance minister also expressed optimism about the “potential” of the Indian economy.
Former Prime Minister Manmohan Singh said achieving the $5 trillion target for the economy is not possible in the current circumstances.(PTI Photo)
Former Prime Minister Manmohan Singh said achieving the $5 trillion target for the economy is not possible in the current circumstances.(PTI Photo)

Can’t reach $5 trillion economy goal with current growth rate: Manmohan Singh

Hindustan Times, Mumbai/New Delhi | By Jayshree P Upadhyay and Anuja
UPDATED ON OCT 18, 2019 12:03 AM IST
With the growth rate declining, there is no hope of reaching this target by 2024, Manmohan Singh said on Thursday.
The marginal cost of funds-based lending (MCLR) would be effective from October 10, the revision in savings bank deposits rates will be from November 1, the bank said in a statement.(Photo: Mint)
The marginal cost of funds-based lending (MCLR) would be effective from October 10, the revision in savings bank deposits rates will be from November 1, the bank said in a statement.(Photo: Mint)

SBI cuts lending rates for 6th time; deposits rates down 25bps

Mumbai | By Press Trust of India
PUBLISHED ON OCT 09, 2019 03:36 PM IST
“In view of the festival season and extending the benefits to customers across all segments, we have reduced our MCLR by 10 bps across all tenors,” the bank said in a statement.
Finance Minister Nirmala Sitharaman(Raj K Raj/HT file photo)
Finance Minister Nirmala Sitharaman(Raj K Raj/HT file photo)

‘I have been working on it’, Nirmala Sitharaman’s retort to criticism

Hindustan Times, New Delhi | By HT Correspondent
UPDATED ON SEP 19, 2019 01:26 PM IST
In the first of a series of tweets, Nirmala Sitharaman justified her presence at the event that had given rise to speculation about more steps to support growth.
FICCI President Sandip Somany has said that the measures put forward by the government would help the slowing economy.(HT Photo)
FICCI President Sandip Somany has said that the measures put forward by the government would help the slowing economy.(HT Photo)

Centre’s steps for housing, exports will boost Indian economy: FICCI

New Delhi | By Indo Asian News Service
UPDATED ON SEP 15, 2019 06:32 PM IST
FICCI welcomed the government’s move a day after Finance Minister Nirmala Sitharaman announced steps to help the nearly stalled real estate sector and increase India’s exports.
Union minister Prakash Javadekar said at a press briefing on the Narendra Modi government completing 100 days in its second term.(ANI)
Union minister Prakash Javadekar said at a press briefing on the Narendra Modi government completing 100 days in its second term.(ANI)

‘Slowdown is a cyclic process’: Prakash Javadekar on economy

Hindustan Times, New Delhi | By HT Correspondent
UPDATED ON JUN 27, 2020 07:20 PM IST
The gross domestic product (GDP) numbers, released last week, showed that growth was at 5%, a six-year low. GDP growth has been declining for five consecutive quarters now.
Finance Minister Nirmala Sitharaman(ANI Photo)
Finance Minister Nirmala Sitharaman(ANI Photo)

Finance ministry sets up task force to identify infrastructure projects worth Rs 100 trillion

livemint | By Shreya Nandi
UPDATED ON SEP 07, 2019 12:45 PM IST
Finance ministry on Saturday said the task force will draw up plan for the ‘national infrastructure pipeline’ from 2019-20 to 2024-25. The task force will submit the report on the plan for 2019-20 by October 31
The West Bengal chief minister also attacked the centre for its decision to abrogate the article 370 which bifurcated the state of Jammu and Kashmir.(ANI Photo)
The West Bengal chief minister also attacked the centre for its decision to abrogate the article 370 which bifurcated the state of Jammu and Kashmir.(ANI Photo)

Mamata Banerjee says Chandrayaan 2 an attempt to divert attention from ‘economic disaster’

Kolkata | By Asian News International
UPDATED ON JUN 27, 2020 02:29 AM IST
West Bengal’s cheif minister Mamata Banerjee in the state assembly , attacked the government saying that the mission’s launch is an attempt to divert attention from ‘economic disaster.
Earlier in the week, IHS Markit survey had showed India’s manufacturing output in August grew at the slowest pace in 15 months.(Mint photo)
Earlier in the week, IHS Markit survey had showed India’s manufacturing output in August grew at the slowest pace in 15 months.(Mint photo)

India’s services growth lose pace in August : Survey

livemint, New Delhi | By Gireesh Chandra Prasad
UPDATED ON SEP 04, 2019 04:18 PM IST
The survey collects data from businesses in the second half of every month. The survey also pointed out that all the sectors it covered except real estate and business services showed sustained growth.
Consumption of electricity during the April-July period grew 2.4% from a year earlier.(Getty Images/iStockphoto)
Consumption of electricity during the April-July period grew 2.4% from a year earlier.(Getty Images/iStockphoto)

Why demand for power is surging amid India’s growth slowdown

Bloomberg | By Rajesh Kumar Singh and Debjit Chakraborty
UPDATED ON SEP 04, 2019 01:33 PM IST
Power requirement growth in the nation’s most industrialized states decelerated in the April-July period, as demand from businesses cooled in line with the broader slowdown in Asia’s third-largest economy.
Maruti Suzuki’s plant in Gurgaon’s Manesar plant.
Maruti Suzuki’s plant in Gurgaon’s Manesar plant.

Maruti Suzuki’s ‘no production’ at Gurugram, Manesar plants for two days amid auto crisis

Press Trust of India | By Press Trust of India
UPDATED ON JUN 26, 2020 01:24 AM IST
Reeling under severe slowdown, Maruti Suzuki India had reduced its production by 33.99 per cent in August.
While a real economy is infinitely more complex, the thumb rule holds. A low-growth, low-inflation situation is more likely to reflect a demand-side problem while a low-growth, high-inflation situation is likely to be the result of a supply-side problem.(HT FILE)
While a real economy is infinitely more complex, the thumb rule holds. A low-growth, low-inflation situation is more likely to reflect a demand-side problem while a low-growth, high-inflation situation is likely to be the result of a supply-side problem.(HT FILE)

Why the 2019 economic slowdown is different from 2012-13 | Analysis

Hindustan Times, New Delhi | By Roshan Kishore
UPDATED ON SEP 04, 2019 08:59 AM IST
Inflation was very high during the earlier slowdown compared to what it is now. This is the case even if one excludes food and fuel inflation, which plots GDP growth and core inflation (inflation excluding food and fuel).
After plunging 867 points during the day, the 30-share index ended 769.88 points, or 2.06 per cent, lower at 36,562.91. The broader Nifty too sank 225.35 points, or 2.04 per cent, to settle at 10,797.90. (Image used for representation).(REUTERS FILE PHOTO.)
After plunging 867 points during the day, the 30-share index ended 769.88 points, or 2.06 per cent, lower at 36,562.91. The broader Nifty too sank 225.35 points, or 2.04 per cent, to settle at 10,797.90. (Image used for representation).(REUTERS FILE PHOTO.)

Investors lose Rs 2.55 lakh crore as stock market tanks over 700 points

Mumbai | By Press Trust of India
UPDATED ON SEP 03, 2019 08:31 PM IST
Indian markets, after an extended weekend, opened on Tuesday sharply lower reacting to country’s worsening macro-economic situation as well as weak global cues attributed to the long-lasting US-China trade tiff.
At the beginning of the millennium, the per capita income of the five richest states (based on per capita income) in India was 145% higher than that of the bottom states.(Reuters Photo)
At the beginning of the millennium, the per capita income of the five richest states (based on per capita income) in India was 145% higher than that of the bottom states.(Reuters Photo)

India’s growing regional inequality challenge

Livemint | By Nikita Kwatra, Pramit Bhattacharya
UPDATED ON AUG 28, 2019 05:36 PM IST
On many development parameters, India appears to be almost like a continent, with different states at vastly different stages of development.
Congress leader Rahul Gandhi on Friday said the government’s own advisers had now admitted that the country’s economy was in a “deep mess”.(PTI Photo)
Congress leader Rahul Gandhi on Friday said the government’s own advisers had now admitted that the country’s economy was in a “deep mess”.(PTI Photo)

Govt’s own advisers have admitted economy in deep mess: Rahul Gandhi

New Delhi | By Press Trust of India
UPDATED ON AUG 23, 2019 05:57 PM IST
Congress had been cautioning about the state of the economy for long, Rahul Gandhi added.
Automobile sales in India witnessed its sharpest decline in nearly 19 years in July, dropping 18.71 per cent, rendering almost 15,000 workers jobless over the past two-three months as the sector reels under a prolonged slump.(Reuters Photo)
Automobile sales in India witnessed its sharpest decline in nearly 19 years in July, dropping 18.71 per cent, rendering almost 15,000 workers jobless over the past two-three months as the sector reels under a prolonged slump.(Reuters Photo)

Maruti pins hopes on festive season for demand revival in auto industry

Jaipur | By Press Trust of India
PUBLISHED ON AUG 23, 2019 05:36 PM IST
Maruti Suzuki India is hopeful that revival in demand, specially from rural markets, and peak discounts along with new model launches will play a crucial role converting inquiries into real purchases.
Finance Minister Nirmala Sitharaman addresses a press conference announcing a slew of economic measures to boost growth, at National Media Centre in New Delhi, India, on Friday, August 23, 2019.(Mohd Zakir/HT PHOTO)
Finance Minister Nirmala Sitharaman addresses a press conference announcing a slew of economic measures to boost growth, at National Media Centre in New Delhi, India, on Friday, August 23, 2019.(Mohd Zakir/HT PHOTO)

In 20 points, all the steps Nirmala Sitharaman announced to boost economy

Hindustan Times, New Delhi | By HT Correspondent
UPDATED ON AUG 23, 2019 08:30 PM IST
Finance Minister Nirmala Sitharaman Presser updates: Union finance minister, along with top officials from finance ministry addressed the media today on Indian economy. Ahead of her address, market benchmark BSE Sensex rebounded from early lows to close 228 points higher on expectations of FPI tax roll back.
The recent fall in equities is a result of growing uneasiness among the participants as they’re keenly awaiting some action from the government to boost the market sentiment.(Reuters Photo)
The recent fall in equities is a result of growing uneasiness among the participants as they’re keenly awaiting some action from the government to boost the market sentiment.(Reuters Photo)

Equities, rupee pare losses on hope Centre may roll back higher surcharge on FPIs

Livemint, Mumbai | By Ravindra N. Sonavane
UPDATED ON AUG 23, 2019 12:13 PM IST
According to Bloomberg report, the government is working on steps to arrest the economic slowdown, which may include an exemption for foreign portfolio investors (FPIs) from tax on super rich announced in the Budget.
Union home minister Amit Shah addresses UP government’s launch of investment projects worth Rs65,000 crore in Lucknow.(ANI Photo)
Union home minister Amit Shah addresses UP government’s launch of investment projects worth Rs65,000 crore in Lucknow.(ANI Photo)

Path to $5 trillion economy target goes through UP, says Amit Shah

Lucknow | By HT Correspondent
UPDATED ON JUL 29, 2019 01:00 AM IST
The road to becoming prime minister passes through Lucknow, and so does the path for India to become a $5 trillion economy, Amit Shah said.
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