Business

Eliminate needless government intervention to spur growth: Economic Survey


New Delhi: Eliminate instances of needless government intervention to enable competitive markets and thereby spur investments and economic growth, the Economic Survey 2019-20 said on Friday. According to the Survey, each government ministry must systematically "examine areas where the Government needlessly intervenes and undermines". However, it did not argue that there should be no Government intervention. "Instead,...

Economic Survey pegs GDP at 6-6.5% in financial year 2021


New Delhi: Expecting strong recovery in the economy, Economic Survey 2019-20 has projected 6-6.5 per cent GDP growth in FY21. This signals that the Union Budget would be growth-oriented and announce fiscal stimulus to spur growth and investment in the country. The projection also suggests that the slowdown has bottomed out and growth would pick...

India’s gold demand falls 9% on record prices in 2019


New Delhi: The World Gold Council (WGC) said on Thursday that India’s gold demand fell nine per cent to 690.4 tons in 2019 from the previous calendar year as record domestic prices and economic slowdown dented retail purchase. However, in 2020, gold demand in India -- the world’s second biggest consumer after China -- could...

Coronavirus: India Inc concerned as markets see fall


New Delhi: India Inc, as well as domestic stock markets, have showed concerns over the spreading cases of Coronavirus and its impact on global trade recovery. The new virus, which is of the same genre as SARS of 2003, was first reported in WHO Disease outbreak news on January 5 in China's Wuhan. Till now...

Tech Mahindra opens Google Centre of Excellence in Hyderabad


Hyderabad: Digital transformation provider Tech Mahindra on Tuesday launched a dedicated Google Cloud Centre of Excellence (COE) here to drive the digital transformation of enterprises globally. The COE will provide enterprises with access to technology and services they need to expedite their Cloud migration, and deliver tailored solutions to help them move critical workloads to...

Global markets under pressure over fear of coronavirus spread

Post Date: January 29, 2020

Mumbai: Fears that the outbreak of coronavirus in China may disrupt economic activity and global growth has sent the stock markets tumbling. Chinese health authorities on Friday said that 830 cases of pneumonia caused by coronavirus were confirmed in 29 provincial-level regions in the country. The pneumonia has so far claimed 25 lives. A sharp adverse...

India may raise import duties on over 50 items in budget


New Delhi: India plans to increase import duties on more than 50 items including electronics, electrical goods, chemicals and handicrafts, targeting about $56 billion worth of imports from China and elsewhere, Reuters reported, citing officials and industry sources. Finance Minister Nirmala Sitharaman could make the announcement when she presents her annual budget on February 1,...

US witnessing economic boom never seen before: Trump at Davos


Davos: Addressing the World Economic Forum (WEF) summit here, US President Donald Trump said on Tuesday that America is in the midst of an economic boom that has never been seen before anywhere in the world. According to President Trump, 11 million jobs have been gained by America since his election and the average unemployment...

IMF cuts India’s growth rate to 4.8% in ‘negative surprise’


United Nations: Calling it one of the "negative surprises", the International Monetary Fund (IMF) on Monday sharply cut India's growth estimate for the current fiscal to 4.8 per cent, darkening the economic picture from the rosy 7.5 per cent made this time last year. The latest cut follows a downward trend that reduced India's growth...