Business

Nirmala

India unveils $265 billion economic stimulus


New Delhi: Prime Minister Narendra Modi has announced a massive economic package, which along with previous packages and RBI reprieves, will amount to Rs 20 lakh crore ($265 billion), the largest such package in Covid-hit developing countries. He stated that it will address issues pertaining to land, labor, liquidity and loss. The total economic package...

us-iran

US-Iran conflict top risk to global economy in 2020: EIU


New Delhi: Renewed geopolitical uncertainty coupled with the emergence of novel coronavirus in China will limit any pick-up in business confidence and investment, and the balance of risks to the global economic outlook appears firmly tilted to the downside, according to the Economist Intelligence Unit (EIU). Meanwhile, the social unrest seen across the world in 2019...

Elon Musk

Musk reopens Tesla factory in California, Trump supports him


San Francisco:  President Donald Trump on Tuesday backed Tesla CEO Elon Musk in his fight with the local authorities in California as he reopened the company's electric car factory in Fremont against the state guidelines. On Monday, defying the stay-at-home order in place, Musk reopened Tesla factory in Fremont, California, challenging the authorities to arrest him...

Indian economy grew 4.7% in December quarter


New Delhi: India’s economy grew 4.7% in the December quarter, official data showed on Friday. The government also revised the growth rate for the July-September quarter from 4.5% to 5.1%, prompting a top government official to declare that the economy’s growth decline had bottomed out. The revision for the September quarter was up sharply...

5 Indian cities to buy best handloom sarees


India’s rich cultural heritage is the reason why the country has a history of handlooms. Every corner of India speaks for its own weaving and draping style. We have about 60 kinds of weaving patterns originating from rural India alone. There is a range of quintessential Indian handloom beyond the usual gota-patti, half-saris, embellished...

Arvind Krishna joins elite Indian-origin CEOs’ club, IBMers ecstatic


New Delhi: Arvind Krishna, the newly-appointed CEO of the world's oldest technology company IBM, has joined the high-profile league of Indian-American honchos who are calling the shots at the $1-trillion strong companies in the Silicon Valley. Krishna, 57, joins Microsoft CEO Satya Nadella, Alphabet and Google CEO Sundar Pichai, Adobe President and CEO Santanu Narayan...

No pump priming economy: Nirmala Sitharaman after Budget


New Delhi: Putting aside the hope of a strong fiscal stimulus to pump prime the economy, Finance Minister Nirmala Sitharaman said on Monday that the Budget gave a macro treatment to the economy rather than addressing sectors separately and put infrastructure spending as the highest priority while taking a fiscally prudent route. "The attempt is...

NRIs will pay tax only on India income: Nirmala Sitharaman


New Delhi: The government said on Monday it doesn’t intend to tax income that bona fide workers earn overseas, allaying concerns about a budget proposal relating to non-resident Indians (NRIs) that said those who weren’t taxed in another country were liable to pay tax in India. This had caused Indians working in the Middle...

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,...