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Updated: 27 min 44 sec ago

Moody's rating downgrade not surprising: SBI report

Tue, 06/02/2020 - 11:00am
India's sovereign rating was downgraded by Moody's to Baa3 with a negative outlook on the pretext of prolonged period of slower growth, rising debt and stress in financial system. Apart from sovereign rating downgrade, Moody's has taken rating actions on 11 Indian banks.
Categories: India News

Maharashtra to use drones to spray insecticides on locust swarms: Agriculture Minister

Tue, 06/02/2020 - 10:00am
Bhuse also said that 32 lakh farmers had applied under the 'Mahatma Jyotiba Phule' crop loan waiver scheme, and the amount of Rs 12,000 crore has been deposited in the accounts of 19 lakh of 30 lakh eligible farmers before the lockdown came into force.
Categories: India News

New connectivity to Amritsar; Expressway phase-I to cost Rs 25,000 crore, says Gadkari

Tue, 06/02/2020 - 9:00am
With this expressway, travel time from Amritsar to Delhi International Airport would reduce to about four hours from the present nearly eight hours, the road, transport and highways minister said adding that the first phase of expressway would involve investment of about Rs 25,000 crore.
Categories: India News

India steps up efforts to curb locust infestation

Tue, 06/02/2020 - 9:00am
India has brought the locusts under control at 399 locations in five states and has placed an order to buy 60 new insecticide spraying machines, two government sources said.
Categories: India News

Modifications in National Pension Scheme financially untenable: Finance Ministry

Tue, 06/02/2020 - 8:00am
Patel demanded modification in the National Pension Scheme (NPS) so that a large part of the contributory fund, which is currently invested in the market, can be made available to governments to supplement their fight against COVID-19.
Categories: India News

Over 68 lakh families to get free foodgrains under NFSA again

Tue, 06/02/2020 - 8:00am
The state government had distributed 72 lakh quintals of free grains to 68 lakh NFSA families in April and May costing Rs 802 crore at the current market price, it said.
Categories: India News

SBI Card reports average daily spends at over Rs 175 cr in May

Tue, 06/02/2020 - 8:00am
SBI Cards and Payments Services has said that customers continued using their credit cards during lockdown and due to the unique nature of business the average daily spends were in upwards of Rs 175 crore during May.
Categories: India News

Rabi oilseeds production in 2019-20 to fall by 13.48%, says NBHC

Tue, 06/02/2020 - 6:00am
Keeping in consideration the large-scale post monsoon developments and the sowing reports from various parts of the country, NBHC Pvt. Ltd. has come up with its Final Rabi Crop Estimates for 2019-20.
Categories: India News

Moody's downgrade expected, India unlikely to slip to junk status: BofA

Tue, 06/02/2020 - 6:00am
Moody's Investors Service on Monday downgraded the country's rating by one notch to 'Baa3', the lowest in the investment grade, with a negative outlook on worries over growth and fiscal risks.
Categories: India News

Amartya Sen, Satyarthi among over 225 global leaders to call for $2.5 trillion COVID-19 response plan

Tue, 06/02/2020 - 6:00am
The letter, signed by over 225 past and current leaders from around the world, calls for the G20 Summit to be convened urgently to address the health and economic crises in the wake of the COVID-19 pandemic and to put forth a global recovery plan.
Categories: India News

Five Indian states are leading economy to recovery from lockdown

Tue, 06/02/2020 - 5:00am
Kerala, Punjab, Tamil Nadu, Haryana and Karnataka have seen a pickup in activity, based on an analysis of indicators such as power consumption, traffic movement, arrival of farm products at wholesale markets and Google mobility data, Garima Kapoor, an economist at Elara Securities in Mumbai, wrote in a note.
Categories: India News

India's 2019-20 sugar production to be 270 lakh tonnes, says ISMA

Tue, 06/02/2020 - 5:00am
ISMA had estimated a production of 265 lakh tonnes for the current season. However, the gur and khandsari manufacturers shut their operations in U.P very early because of the lock down, because of which a substantial quantity of sugarcane got diverted to the sugar mills therein.
Categories: India News

21 million people got jobs in May due to improved labour market conditions: CMIE

Tue, 06/02/2020 - 4:00am
As per the report, the labour participation rate improved from 35.6% to 38.2% and the employment rate improved from 27.2% to 29.2% in May. “The total number of people employed increased by 21 million during May 2020, an increase of 7.5% over April,” CMIE said.
Categories: India News

India will definitely get its growth back, says PM Modi at CII event

Tue, 06/02/2020 - 3:00am
He said that the private sector is a participant in India's growth story and he will stand by India Inc in getting growth back. The PM said that the we have to take care of the economy while taking every possible action against the virus.
Categories: India News

Regulating crops doesn't guarantee better profitability for farmers: FSII Director General

Tue, 06/02/2020 - 3:00am
Regulating crops is not an end in itself and does not guarantee better profitability for farmers, Federation of Seed Industry of India (FSII) director general Ram Kaundinya told ET in an interview.
Categories: India News

Souring relationship between India and Nepal may help Darjeeling tea industry

Tue, 06/02/2020 - 2:00am
Nepalese teas have captured a sizeable portion of Darjeeling tea’s domestic market since 2017, when the four-month agitation in the hills from June to September had paralysed operations at the tea estates. In 2019, Nepal had exported teas worth Rs 63 crore to India.
Categories: India News

GST Council to discuss waiver of late fee for August 2017 to January 2020 in next meeting

Tue, 06/02/2020 - 2:00am
The issue of waiver of late fee for Goods and Services Tax (GST) for the past period (August 2017- January 2020) will be taken up in the next GST Council meeting, according to the Central Board of Indirect Taxes and Customs (CBIC).
Categories: India News

Government in talks with over 600 global investors: Piyush Goyal

Tue, 06/02/2020 - 2:00am
“Many countries are protecting their domestic industry from opportunistic takeover at a time when valuations are down. It is good if you can bring some restrictions so that companies do not get into hands of certain buyers who would exploit the situation,” Goyal said in an interview.
Categories: India News

Bountiful monsoon rains seen mitigating India’s economic woes

Mon, 06/01/2020 - 11:00pm
The monsoon, which shapes the lives of millions and influences food prices, is critical for agriculture as it irrigates fields directly and fills reservoirs that help winter-sown crops. It assumes greater significance this year as millions have lost their livelihoods because of stringent stay-at-home rules imposed to stem the coronavirus.
Categories: India News

No IBC and Covid NPAs coming, PSBs may sell Rs 20k-cr bad loans

Mon, 06/01/2020 - 11:00pm
An estimated Rs 20,000 crore worth of bad loans from state-run banks are up for sale to asset reconstruction companies as banks prepare for a fire sale due to suspension of the bankruptcy law which has blurred the recovery horizon.
Categories: India News

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